COMPANY REGISTRATION NUMBER: N1622089 CHARITY REGISTRATION NUMBER: NIC101787 Npw Covenant Ministries Ltd Company Limited by Guarantee UrRudited Financial gtatements 31 December 2016 c) Q) |lINTh.IY AcGouniants and Ta￿rIOn Cungultahts 197 Moyadd Road Kilkeel Co. Down BT34 4HL New Covanant Ministries Ltd Company Limited by Guarantee Financial Statements Year ended 31 December 201 S Page Trustee's annual report (incorporating the directorfs report) Statement of financial adivities (including income and expenditure account) Statement of financial postknon Notes to the financial statements The followlng pages do not fom) part of the financial statements Accountants and taxation consultants report to the trustee on the preparation of the unaudited statutory financial statements 10 New Covenant Ministries Ltd Company Limited by Guarantee Trustee's Annual Report (Incorporating the Dlrectorfs Report) Year ended 31 December 2016 The trustee, who is also the director for the purpose5 of company law, presents her report and the unaudtted financid statements of the charity for the y88r ended 31 Decernber 2016. Reforence and administrative details Registered Gharity name New Covenant Ministries Ltd Charity reglstration number NIC101787 Company registration number NI822089 Principal office and registered 27 Brackenagh West Road offico Ballymarbn Co. Down BT34 4PW The trustea Mrs Fadzai Burrowes Company secretary Mr William John David Burrowes Accountants Cunningham & McPartiand Accountants and Taxation Consultants 197 Moyadd Road Kilkeei Co. Down BT34 4HL structure, governance and management New Covenant Ministries Ltd is a company limtted by guarantee. One £1 ordinary share has been issued to Mrs Fadzai Bumwes who is also the sole director of the company. Mr William BU￿oweS is the company secretary. QbjeGtives and activities The companls objects are spectfically restricted lo:_ 1. The advancement of the Christian faith in accordan* with the teachings of the New Covenant Ministries. 2. To promote unity among the different communities of Northern Ireland. 3. To rell8v8 persons who arg in Conditions of need or hardship or who are aged or sick, and lo relieve the distress caused thereby in Northem Ireland as the ttjslees may from time to time think fil and accordlng to the awailabls r8sources. Achievements and pèrforniance Naw Covenant Ministries Ltd continued to strive to achieve their objectNes and successfully advance the Christian faith and alleviate hardshlp among all communibes in Northem Ireland to the best of their abllit18S. New Covenant Ministries Ltd Company Limited by Guarantee Trustee's Annual Report (Incorporating the Director's Report) (tontsnue Year ended 31 December 2016 Financial rèview The company had net incoming resource3 for 2016 of {£1) {(£475F 2015)on gross income of £6,880 (2015- £5,813). Small company provtsions This report has been prepared in accordan￿ with the provisions appllcable to companles entitled lo the small companies exemption. The buslee's annual report ￿a$ approved on 26 September 2017 and signed on behalf of the board of trustees by: r feLKJLS Mrs Fadzai Burrowes Trustee New Covenant Ministries Ltd Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) 31 December2016 2016 Unrestricted fLJnds Total fijnds Total funds 2015 Note Income and end0￿entS Donatlons and legaci Total income 6.880 6,880 5,813 6.880 6,880 5,813 Expenditure Expenditure on ralsing funds- Costs of other trading activities Total expenditure 6.881 6,881 6,881 6,881 6.288 6,288 Net expenditure and net movement in funds {11 (4751 Reconciliation of funds Total funds broughl forward Total funds carried fOn￿ard 13151 {316) (3151 (316) 160 (3151 The staternenl of financial activities includes all gains and losses recognised in the year. Al inGome and expenditure derive from continuing act￿￿tieS. The not88 on pages 5 to 8 forn) part ofthese financial statements. New Covenant Ministries Ltd Company Limited by Guarantee Statement of FinancTal Position 31 December 2016 2016 2015 Currènt assets Cash at bank and in hand 468 233 Creditors: amounts falllng duè wtthin one year Net current liabilities 548 316 315 Total assets less current liabllitles (316} (316) (315) 13151 Net liabilities Funds of the charity Unrestricted funds (3161 (3161 (3151 (3151 Total charity funds For the year ending 31 December 2016 the tharity was entiued to exemption from audit under section 477 of the Cofflpanies Act 2006 reIabng lo small companies. Trustee's responsibilities.. The member has not required the charity to obtan an audit of its finanaal statements for the year in question in accordance wth section 476- The trustee aCkno￿edgeS her responsibilities for complwng wth the requirements of the Aot with respect lo accounting records and the preparats.on of financial slalements. Thes8 fin8n¢ial slalements have been prepared and delNered in accordance with the provlsions applicable lo companies subject to the small companies, regime. The staternent of financlal activities and Trustee's report have not been delivered to the Registrar of Companies In aGcordance wth the speGial provisions applicable to companies subject to the small companies regime. These financial statements were approved by the board of tnJstees and authorised for issue on 26 September 2017, and are signed on behalf of the board by. Mrs Fadzai Burrowes Trustee The notès on pages S to 8 fom) part of these finaneia] statements. New Covenant Ministries Ltd Company Limited by Guarantee Notes to the Financial Statements Year endod 31 December 2016 GenarJ infomiatlon The chartty is a private company limited by guarantee lo the value of one £1.00 ordinary share issued to Mrs Fadzai Burrowes. The company is registered in Northern Ireland and it is reglstered charity in Northem Ireland. The address of the register8d office is 27 Brackenagh West Road, Ballyrnarbn. Co. Down, BT34 4PW. Statement of compllance These financial statements have been prepared in compliance wth FRS 102, The Financial Reporting Standard appliGable in the UK and the Republic of Ireland,, the Statement of Recommended Practi￿ appli(2ble lo charides preparing their accounts in accordance ffilth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP IFRS 102}l and the Charttie3 Act (Northem Ireland) 2008. Accounting policies Basis of preparation The finan￿8] statements have been prepared on the historic￿ cost basis. as modified by the revalu21ion of certain financial aggels and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared ln steding, which is the fvnctional currency of the entity- Going Concern There are no material uncertainties about the Ghantys abilty to continue. Dlsclosure ex8mptions 121 ND cash flow statement has been presented for the company. Ibl Discltssures in respect of finanGial Inst￿ments have not been presented. Judgements and key sources of osttmation uncertalnty The preparation of the financial ststements requires management lo make judgernents, estimates and assumptions that affect the amounts reported. Thes@ estimates and judgements are continually reviewed and are based on experience 2nd 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 charivs purpos8S. Designated funds are unrestricted funds earmarked by the tru5te8 for particular future proJe¢t or commTtment. Restricted funds are subjected to restrictons on their expenditure declared by the donor or through the lemis of an appeal, and fdl into one of two sub-classes- resthcted income funds or endowm9nl funds. New Covenant Ministries Ltd Company Limited by Guarantee Notes to the Financial Statements [contlnu8 Year ended 31 December 2016 Accounting poliGies (Gontinueo) InGoming resources l incoming resources are included in the statement of finanGial activities when entitTement has passed to thè charitr, it is probable that the economiG benefits associated Mth the transaction wll flow ta the charity, and the amount can be reliably measured. The follo￿ng specific policies are applied to p3rticular categories of income- income from donations or grants Is recognised when there ts evldence of entillemenl to the gfft. receipt is probable and its amount ￿an be measured rellably. legaGy income is recognised when receipt Is pFobable and entiuement Is estsblished. Ineomg from donated goods is measured at the fair value of the goods unless this is impractica to mèasure reliably, in which case the value is derived from the cost lo the donor or the estimated resale value. Donated faCIl￿e5 and serrtces are recognised in the accounts when received rf the value can be reliab￿ measured. No amounts are included for the oontribution of general volunteers. 1ncome from contracts for the supply of services is recognised with the delivery of the ttonlracted service. This is classffjed as unrestrcted funds unless there is a contractual requirement for tt to be spent on a particular purpose and retumed rf unspent, in which casè it may be regarded as restricted. Resources expended Expenditure is recognised on an awruals basis as a liability is incurred. Expenditure includes any VAT which c3nnol be fully recovered, and is dassified under headlngs of the statement of flnancial activities to which it relates: expendlture on raising funds Indudes th8 Q)sts of all fundraising activities, events, non- charitable trading activities, and the sale of donated goods. expenditure on charttable 8ctivitses Includes dl costs inryjrred by a chartty in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support Gosls and costs relating to the g0veMan￿ of the Gharity apportioned to chartLable aGtivilies. other expendtture inGludes all expenditure that is neither related to raising funds for the charity nor part of tts expendtiure on charitable acttVTtses. All costs are allocated to expenditure categories reflecting the use of the resource. Dlrect costs attributable lo a single activity are allocated dire0￿Y to that activity. Shared costs are apportsoned behveen the activities they Gontribute lo on 2 reasonable. Justif￿ble and consistent basis. Financial instruments A finanGl81 asset or a financial liability is re¢x)gnised only when the charity become5 a party lo the Gontractual provisions of the instrumenL New Covenant Ministries Ltd Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 December 2016 Accounting policies (￿thUed) Financial instruments (Gonvnued) Baslc financial Instrumenis are Intttally recognised at the amount receivable or payable including any relatèd transaction costs. Current ass8ts and Gurrenl liablltb&s are subsequenlly measured at the cash or other consideratlon expected to be paid or recgrved and not dlscounled. Debt instruments are subsequentiy measured at amorbsed cost. Where investrnenls in shares are publicty traded or their far v￿ue can otherwse be measured reliably. the investment Is subsequently measured at fair value wlh changes in fair value recognised in income and eXpendi￿re. Ail other SUGh investments are subsequently measured at cost less impaimient. Other financial instruments, induding derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normaI business temis or financed at a rate of interest that is not a market rate. in which rase the asset is measured at the present value of thg futur8 payments discounted at a market rate of interestfor 2 similar debt instNment other financial instruments are subsequentty measured at fair value, any changes recognised in the statement of financial aclivities. with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cx)sl are reviewed for objecbve evidence of impairmenl al the end of each reporting date. If there 15 objectNe evidence of impairment. an Impairment loss ts recognised under the approprisle h8ading in the statement of flnanaal activities in which the initial gain ￿d8 reCognis￿. For all equitr instruments regardless of signtficance, and other financial assets that are Indivldually signtfic3nt, these are assessed individually for impai￿rent. Other financial assets are either aagessed individualty or grouped on the basis of similar credit risk characteristics. Any reversals of Impaimient are retx)gnised irnmediately, to the extent that the reversal does not result in a c2rrwng amount of the financial asset that exceeds what the carrying amount would have been had the impaimient not premously been recognised. Trustee remuneratlon and expenses No rernuneralion or other benefits from employment with the charity or a ￿lated entity were received by the trustees. No t￿stee expenses have been Incurred. Creditors.. amounts falling due wthin one year 2016 2015 Olhsr creditors New Covenant Ministries Ltd Cornpany Limited by Guarantee Notes to the FinanGial Statements (contrnueoj Year ended 31 December 2016 Analy$is of charitable funds UnrestriGted fund5 At 1 January 201 At 31 December 2016 Income Expenditure Ggneral funds (315) 6.880 16,881) 13161 Analysis of net assèts bet￿een funds Unrestricted Total Funds Fund5 2016 Current assets Credttors less than 1 year Not liabilities 468 (784> (3161 468 {784) 1316) N.ew Covenant Ministries Ltd Company Limited by Guarantee Management Information Year ended 31 Decemb.er 2016 Th&.followirfg"'batyeYth".":iwllfDnn part of thefinancial statèJlTerts. New Covenant Ministries Ltd Company Limited by Guarantee Accountants and Taxation Consultants Report to the Trustee on the Preparation of the Unaudited Statutory Financial Statements of New Covenant Ministries Ltd Yaar ended 31 December 2016 In order to assist you lo fuln your duties under th& Companies Act 2006, we have prepared for your approval tho financial statements of New Covenant Ministhes Ltd for the year ended 31 December 2016, which comprise the statement of financial actiiaties (including income and expendllure account), statement of financial position and the related notes from the charitls accounting reeords and from inforniation and explanations you have given us. A8 a prdGtising member firm of Chartered Accountants Ireland, we are subject lo its ethical and other professional requirements which are detailed al ww.charteredaccountanls.ie. This report i8 made solely to the trustee of New Covenant Ministries Ltd in acrnrdan￿ wth the terms of our engagement letter dated 26 September 2017. Our work has been undertaken solely lo prepare for your approval the financial staletnents of New Covenant Minlstries Ltd and stale those matters that we have agreed lo stale to you in this report in accord2nTr wth the requirements of Chartered Accountants Ireland as detailed al www.charteredaccountant5.ie. To the ftillest exlent peimTtted by law, we do not accept or assume responsibility to anyone other than New Covenant Ministries Ltd and ts trustee for our work or for this reporL 11 is your duty to ensure that New Covenant Ministries Ltd has kept adequate accounting records and lo prepare statutory financial statements that gDie a t￿e and fair view of the assets, liabilities, financial position and profft of New Covenant Ministries Ltd. You consider that New Covenant Ministries Ltd is exempt from the statutory audit requirement for the year. We have not been instructed lo out an audit or a review of the financiai statements of New Covenant Ministries Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or infomiation and explanations you have given lo us and we do not, therefore. expr888 any opinion on the statLrtoryfinancial statements. triv¥I CUNNINGHAM & NAcPARTL4ND AGcountants and Taxation Consultants 197 Moyadd Road Kilkeel Co. Down BT34 4HL 26 S8ptember 2017 10 New Covenant Ministries Ltd Company LTmited by Guarantee Detailed Statement of Financial Activities 31 Decernber 2016 2016 2015 Income and endowmgnts Donations and légaei8s Tithes & 13fferings 6,880 5,813 Total incorno 6.880 5,813 Expenditure Costs of other trading activities Rent Light and heat Repairs and malnl8nanc8 Insurance Motor vehiGle expenses Legal and professional fees Telephone Other offic8 costs Tllhès AccounÈncy Fags stationary Webstte costs 3,356 162 1,062 274 216 93 51 273 420 417 183 374 3,366 98 866 162 127 131 177 388 278 573 122 6,881 6.288 Total expenditure 6,881 6,288 Net expenditurÈ {1) 14751 Carrled fonmard 11 New Covenant Ministries Ltd Company Limited by.Guarantee Notes to the Detailed Statement of Financial Activities 31 December 2016 2016 2015 Costs of other trading activities Cost5 of other trading activities - Shop Costs Shop costs- rent Shop Gosls - light & heal Shop costs - repairs & equipment Shop costs - insurance Shop cosls - motor vehicle expenses Shop costs- legal and professlonal fees Shop costs- telephone Shop Gosls- books & consumables Shop costs- lithes Shop costs- accountancy fees Shop costs - Stationery Shop Gosts - website costs 3,356 162 1,062 274 218 93 51 273 420 417 183 374 3,366 98 866 182 127 131 177 388 278 573 122 6,881 6,288 Costs of other trading activities 6,881 8,288 12