COMPANY REGISTRATION NUMBER: N1622089 CHARftY REGISTRATION NUMBER: NIC101787 New Covenant Ministries Ltd Company Limited by Guarantee Unaudited Financial Statements 31 July 2018 Accountants and Taxation Consultants 197 Moyadd Road Kilkeel Co. Dovm BT34 4HL New Covenant Ministries Ltd Company Limited by Guarantee Financial Statements Period from 1 January 2018 to 31 July 2018 Page Trustee's annual report (incorporating the directorfs report) Statement of financial activities (induding income and expenditure account) Statement of financial positton Notes to the financial statements The following pages do not forni part of th• financial stat•m•nts Accountants and taxation consultants report to the trustee on the preparation of the unaudited statutory financial ststements 11 New Covenant Ministries Ltd Company Limited by Guarantee Trustee's Annual Report (Incorporating the Directorfs Report) Period from 1 January 2018 to 31 July 2018 The Iruslee. who is also the director for the purposes of company law. presents report aThJ the unaudited financial statemenls of the charity for the pernd ended 31 July 2018. Reference and admlnlstrallve ddallg R•glsterad charity namo New Covenant Ministries Ltd Charfty registration number NIC101787 Company roglstratlon number N1622089 Principal Offi￿ and rggisterod 16 Ballyveaghbeg Road offico BalWartFn BT34 4XG The trustee Mrs Fadzai Burrow8S Company secretary Mr William John Oamd Burr(N￿$ Accountants Cunningham & McPartlaThJ Accourrtants and Taxation Consultants 197 Moyadd Road Kilkeel BT34 4HL Structurol governance and management New Covenant Ministries Ltd Is a company limlted by guarantee. One £1 ordinary share has been Issued to Mrs Fadzai Burrowes who is dso the sole director of the company. Mr William Burrowes is the (x)mpany secretsry. ObJectlv¢8 and a¢tlvlttes The CoMpan￿S objects are spectfically restricted to:. 1. The advan￿ment of the Christian faith in acc(Ydance with th8 teachings of the New Covenant Ministries. 2. To promote unity among the drfferent communities of Norlkn Irdand. 3. To rel￿ve p8rsons who are in conditions of need or hardship or who are aged or sick, arKI to relieve the distress caused thereby in Northern Ireland as tt* tru$le89 may from time io time think fil and according to the availat￿e resources. New Covenant Ministries Ltd Company Llmited by Guarantee Trustee's Annual Report (Incorporating the Directorfs Report) (conllnu¢d) Perfod from l January 2018 to 31 July 2018 Achlevements and perfomiancè New Covenant Ministries Ltd continued to strive to achieve their objectives and succ8ssfully advan the Christian faith and alleviate hardship among all communities in Northern Iretand to the best of their abilitie5. FIDanGlal rgvlow The company had nel incoming resourLX fLY 2018 of (£186) ((£￿F 2017)on gross income of£2,021 (2017- £7.3361. Small company provlslon8 This report has been prepared in acthrdance V+ith the provisions applicabb to C4Jmpanies 8nlitled to the small companies exemptbQn. The trustee's annual rewrt was approved on 17 October 2019 arKI signed on behalf of the board of tnjslees by. Mrs Fadzai BU￿oWeS Trustee New Covenant Ministries Ltd Company Umited by Guarantee Statement of Financial Activities (including income and expenditure account) Period from 1 January 2018 to 31 July 2018 Perlod from 1 Jan 18 to 31 Jul 18 Unrestricted funds Total funds Total funds Year lo 31 Dec17 Income and endowments Donations and legaaes Total income 2.021 2.021 7,338 7,338 2.021 2.021 Expgnditurg Expenditure on raising funds: Costs of other trading activities Total expendlture 2.207 2,207 2,207 7,942 2,207 7.942 Not expendlture and not movement In funds 1186) {186) (606) Reconciliation of funds Total funds brought forward Total funds carrlod foTh•ard 1922> (1.108> (922) (1,108) (3161 1922) The statement of financial athl1￿ I￿￿ude$ all gains and losses rwnised in the ypar. AJI [r￿me and expenditu￿ desive from ojntinuing actsvibes. Th• notes on pages S to g forni part of thH• finandal stat•m•nts. New Covenant Ministries Ltd Company Limited by Guarantee Statement of Financial Positlon 31 July 2018 31 Jul 18 31 Dec17 Current assets Cash at bank and in hand Crodltors: amounts falling dug wlthln one year Ng1 current Ilabllltlgs 1,108 1,020 922 1.108 Total assets less current liabilities (1.1081 {1.1081 19221 19221 Net Ilabllltles Funds of the charlty un￿strICted funds {1.108) 11,108) 19221 {922) Total charity funds For the period ending 31 July 2018 the tharity was entiued to exemption from audit urKler section 477 of the Companies Act 2006 relating to small companies. Directorfs responsibilities: The member has not required the company lo obtain an audtt of its finanryal statements for the period in question in accordan￿ with SeCt￿n 476.. The director acknowledges h¥ responsibilibes fix cornp￿ng vmth the requiremeni¥ of th8 Act with respect lo accounting records and the preparabon of financiat statements. These finanoal statements have been prepared and deIN￿ed in accordance with the provisions applicable to companies subject to the small companies. re&ime. The stalement of financial activities and Trustee's rewt have not been delivered to the Registrar of Companies in a¢c4)rdance with the special prowslons app1kat￿e to companies subj￿1 lo the Small companies regime. These financial statements Vove approved by the boar(l of trustees and authorised for Issue on 17 Oct 19. and are Sign￿ on behalf of the trJ)ard ty. Mrs Fadzai Burrowes Trustee The n¢)tss on pago$ 5 to 9 form part ofth•se flnMdal •t•tomonts. New Covenant Ministries Ltd Company Limlted by Guarantee Notes to the Financial Statements Perlod from 1 January 2018 to 31 July 2018 General Infomiation The tharity is a prwale company limited by gu*ant* to the value of one £1.00 ordinary share 15sued to Mrs Fadzai Burro￿. The company is registered in Northem Ireland and il is a registered charty in Northem Ireland. The addTr5s of the registeJed ofFice is 16 Ballyveaghbeg Road. Ballymartin. Co. Down. BT34 4XG. Statement of compllance These financial statements have been prepared in compliance with FRS 102, The Finanaal Reporting Stsndard ap￿ICable in the UK a￿1 the Republic of Irdand,, the Ststement of Recommended Practs¢e appl￿ble to charities preparing their accounts in accordance wth the Fillancial Reporting Standard a￿l¢abl0 in the UK and RepU￿le of Ireland IFRS 1021 {Chariti&s SORP (FRS 102}l arKI the Companies Act 2(X)6. Accounting policies Baslg of preparatlon The financial stalemonls have been prepared on the historic￿ cost basis. as modrfied by the revaluation of certain financial assets and Ikablibes and investrnent properbes measured at fair value through irts)me or expenditure. The financial statements are prepared In sterfing, which 1$ the funG*or￿[ ￿rren¢Y of the entity. Golng concern The Director has ￿nf1mled New Covenant Ministries Ltd ¢eased its activibe$ as a charitable company on 31 July 2018 and is currenty undrying the proces5 for dissolution of the company and an active proposal to slrike off ￿ beiThJ dealt wth by Companies House. Dlsclogure exempllons la) No cash flow statement has been presented for the ￿fflpany. (b) Disclosures in respect of financial irtstruments have N)1 be￿) presented. Judggrngnts and koy sources of ostimallon uncertalnty The preparation of the finanaal statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements a￿ continually reviewed and are based on expwience and other factors. induding expectations of fijlure events that are bdieved to b8 reasonable under the LircumstarKes. New Covenant Ministries Ltd Company Limited by Guarantee Notes to the Financial Statements (conrfnwdj Period from 1 January 2018 to 31 July 2018 Accountlng pollcles {condnu8rf1 Fund accountlng Unrestricted funds are available for use at th8 discretion of the trustees to further any of the charitys purposes. Designated funds are unrestricted funds eamarked by the trustee for par￿laT fu￿re project or commitment. Restricted funds are subjected to restriL*ons on thew expenditure declared by the donor or through the lemis of an appeal. and fall into one of SUE￿￿asSeS. restricted income fund$ or endowment funds. Incomlng re80urces l incoming re50uros ￿ induded in the statement of financial actwitie5 then enltuemenl has passed to the charity. tt is probable that the economic benefits associated with the transaction wll fEow lo the tharity and the amount Can be rella￿Y measured. The fdlowng sp￿lf￿ policie5 are applied to particular categories of income: in￿rne from donations or grants is recognised when there evidence of entitlement to the glft, receipt 15 probable and its arnount can be measured reliably. legacy income is recogniwj vh￿n recoipt probaNe arKI entitlement is established. in￿rne from donated g)ods is rneasured at the fair v￿ue of the goods unless this is impractical to measure reliably. in whith case the value is deriv￿ from the c05t to the donor or the estimated resale walue. Donated faCIl￿e$ and services are recognised in the accounts then receNed rf the vdue can be rdiabty ffleasur￿. No amounts are induded for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of th8 Contracted service. This is classif￿d as unrestr￿ed funds unless there is a contractual requirement for tt to be spent on a partM￿lar purpose and returned rf unspent. in ￿lch cage it may be regarded as restricted. New Covenant Minlstries Ltd Company Limited by Guarantee Notes to the Financial Statements (cortinu* Period from 1 January 2018 to 31 July 2018 Accounting policies (¢ontlnu• ResouTGes exponded Expenditure is recognised on an aryyuals basis as a liability incurred. Expenditure Indudes any VAT which cannot be fully recovwed. and is dasSffj￿d under headin9s of the statement of finon¢ial aGtivitie51o whith it relates- experwjilure on raisin9 fvnds includes the costs of all furKlraising activilies. events, non- charitable trading acttvities. arKI the sale of donated gocMJs. experKlilure on chatilable activities indudes all costs inr#Jrred by a charity in undertaking actNilieg that further its charitable aims for the benefft of its beneficiaries. including those support costs arKI costs relating to the ￿)veManCe of the charity apportioned to Gharitable activities. other expenditure includes all expendiiure that i8 neither related lo ralsing funds for the charity nor part of sts expenditure on charttable activities. I costs are allocated to expenditure catewries refiecting the use of the resource. Direct costs attributable lo a single aclNsty are allocated direcuy to that activty. Shared ¢osts are apportioned betsveen the activities they contritr￿ to on a reasonable, justifiatde arKI consistent basis. Flnanclal instwments A financtal asset or a financk81 liability is r¢¢c*3nised On￿ th the charity beo)mes a paty to th8 contractual provtsions of the instrument. Basic financial instruments are initialty rwi5ed at the amount receNable or payable including any related tran￿tion costs. Cuffent assets and current liabilities are subsequenty measured at the cash or other considerdtion expected to be pahl or ￿1ved and not discounted. Debt instruments are subs8quenty measured at amorbsed L7JSt. Where investments in shares are publKly traded c* their fair vdue Gan othemse be measured reliably. the investment is sUbseqUen￿Y measured at fair value changes in fair valu8 recognised in income and expendilure. All other such inveslments are subsequendy measured at C05t le$$ impawmenL Other financial instruments. induding derivatives. are initially recognised at fair value, unless payment for an asset is deferred beyond I￿rnal l)usiness temis or financed at a rate of inlorest that is not a markel rale. in ￿lch case the asset is measured al the present value of the futur8 payments discounted at a market rate of interest for a similar debt instrument. ot￿ finanrial instruments are Subsequ￿ measured al fair vatue, wtth any changes recognised in the stslement of financial &tsvit*s. with the exc*ptKJn of hedging insknjments in designated hedging relationship. New Covenant Ministries Ltd Company Llmlted by Guarantee Notes to the Financial Statements Perlod from 1 January 2018 to 31 July 2018 Accounting poli¢igS (¢onthJu•dJ Flnancial instruments (¢tyrtinwd) Financial assets that are measured al Cost ￿ amortised cost are revith%pd for objecllve evlden of impaimienl al the end of each reporting date. tf there is objectNe evidence of impairment, an impairment loss is recognised under the approrKiate heading in the stalement of financ¢al activities In which Ihe initial gain vras recognised. For dl equty instruments regardless of S1gnrf￿nee, aThJ other financial assets that are individually signfficant, these are assessed indiwdually for impaimienl. Other financial assets are either assessed individudly or grouwj on the basis of similar Lyedrt risk characteristics. Any reversals of impairment are reo)gnised immediately. to the extent that the reversal does not result in a caryying amount of the financial assel that exceeds what the carrying amount would have been had the impaiment not previou5ty been recognised. Trustse romunoratlon and oxpenses No remuneration or othw beneffts from ernF4￿ent *ryih the tharity or a related entity were received by the trustees. No trustee expenses have been Incurred. Credltors: amounts falllng due wlthln one year 31 Jul 18 31 Dec17 Bank loans ar￿ overdrdfts Accruals and deferred income Director loan accounts 622 518 502 1.108 1.020 Analysls of charltablé funds Unr•striGtgd funds At 1 January 201 In(x)me Expendiiure 31 July 2018 General funds (922) 2.021 {2.207) {1,108) At 31 December 2017 1 Janu¥y201 Income Expendsbjre General fur¥Js (316) (7.942) (9221 New Covenant Ministries Ltd Company Limited by Guarantse Notes to the Financial Statements (Conl1ft￿dJ Period from 1 January 2018 to 31 July 2018 Analysls of nel assets between funds Unrestrithd Total Funds Funds 2018 Current assets Creditors less than 1 ypar Not liabilities (1,108) (1,108) {1.108) {1,108) Unrestricted Total Funds Funds 2017 Cur￿n¢ a$sel$ Creditors less than 1 (1.0201 {9221 12.040) (1.844) Net Ilabllltles New Covenant Ministries Ltd Company Limited by Guarantee Management Infomiatlon Perlod from 1 January 2018 to 31 July 2018 The followlng pages do not fomi part of the flnandal statements. 10 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 Ministrias Ltd Period from 1 January 2018 to 31 July 2018 In order lo assist you to fulfil your duties urKler the Companies Act 2006. we have prepared for your approval the financial statements of New Covenant ministr￿ Ltd for the period ended 31 July 2018, which comprise the statement of finanryal activities (l￿1uding income and expenditure account). statement of financial position and the related notes from the charÉVs a¢￿Unting ￿COrdS and from infomialion arKI exF4anations YDU have given us. As a practising member fi￿ of Chartered A(wJntants Ireland, VR we subjed to its ethical and other professional requirements whth are detailed at WhW.Chart￿￿acCOuntants.lti. This report is made solely to the trustee of New Covenant Ministries Ltd in ac¢ordance ￿th the tenns of our engagement letter dated 17 Od 19. Our ￿￿rk has been undertaken solely to prepare for your approval the finanual statements of New Covenant Ministries Ltd and slate those mattets that we have agreed lo slate lo you in this rep￿ in accordance ¥￿th the requirements of Chartered Accountants Ireland as detailed al wmV.charter￿jaCCtsunt8nts.E. To the fullest extent pemiitted by law, we do not accept or assume responsibilty lo anyone other than New Covenant Ministries Ltd and its trustee for our work or for this reptNt. 11 is your duty lo ensure that New Covenant Ministries Ltd has kept adequate acLounling ￿cOrdS and lo prepare statutory financial statements that gNe a true and fair view of the assets. liabilities, finanual position and profit of New Covenant Ministries Ltd. You o)nsKler Ihal New Covenant Ministries Ltd is exempl from the stalulory audit requirement for the per￿. We have not been instructed to carry out an audit or a review of the finaTrial statements of New Covenant Ministries Ltd. For this reason, we have not verified the 2Lxuf8cy or completeness of the aeeounting records or inf¢ymation and exFAanations have given to us and we do not, therefore, express any opinion on the statutory financiat statements. CUNNINGHAM & MCPARTLAND Accountsnts and Taxation Consuhants 197 Moyadd Road Co. Do BT34 4HL 11 New Covenant Ministries Ltd Company Limited by Guarantee Detailed Statement of Financial Actlvltles Period from 1 January 2018 to 31 July 2018 Périod from lJan1810 31 Jul 18 Year to 310ec17 Income and endowments Donatlons and legacles Tithes & Offerings 2.021 7,336 Total income 2.021 7,336 Expenditure Costs of other trading activities Rent Light and heat Repairs and maintenance Insurance Other establishment Motor vehide expenses Vehicle leasin￿hIre Other motorltravel costs Legal and professional fees Telephone Other office costs Tith8S Accountancy Fees Stationary Website costs 1,033 227 18 51 899 13 879 13 25 175 310 504 420 336 417 47 2.207 7,042 Tolal expendlture 2.207 7,942 Not expondlture {186) 1608) 12 New Covenant Ministries Ltd Company Llmited by Guarantee Notes to the Detailed Statement of Financlal Activities Period from 1 January 2018 to 31 July 2018 Perlod from 1 Jan 18to 31 Jul 18 Year lo 31 Dec17 Costs of othgr tradlng actlvfties Costs of other tradlng activitigs- Shop costs Shop costs - rent Shop costs- light & heal Shop costs- repairs & equipment Shop costs- insurance Shop costs- Bank Charges Shop costs- motor vehide expenses Shop ¢0sts- Grft Aid Shop costs- Travel & Conferences Shop costs - legal and FXofesS￿nal fees Shop costs - telephone Shop costs - t￿kS & Consumables Shop costs - tithes Shop costs - ac¢ountarw fees Shop costs- Stationery Shop costs- website costs 3.OCKI 1.033 227 18 51 879 13 13 25 175 310 420 336 417 47 2.207 7,942 Costs of other tradlng activttles 2.207 7,942 13 To the Director New Covenant Ministries Ltd During the course of our work on your Unaudita A¢