The House of Vic-Ryn Trust Limited
IA Company Limited by Guarantee)
Trustees. Report
For the Year Ended 30 June 2023
The Trustees present their annual report together with the audited financial statements of the Trust for the 1
July 2022 to 30 June 2023. The Annual Report seprfes the purposes of both a Trustees, report and a directors,
report under company law. The Trustees confirm that the Annual Report and financial statements of the
charitable company comply with the cu￿ent statutory requirements, the requirements of the charitable
companls governing document and the provisions of the Statement of Recommended Pradice (SORP)
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable
in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Trust qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required
of medium and large companies under the Companies Act 2006 (strategic Report and Directors, Report)
R9gulations 2013 hae been omitted.
Objectives and activities
. Policies and objectives
The Trust has two objectives for the benefit of the public, with its principal activty being the advancement of the
Christian religion. The trust also strives to prevent. relieve. and cure sickness and ill-health of every kind
{Including physical injuries) and to promote health in anyway.
b. Factors relevant to achieve objectives
The Trust has a committed Board of TTUStees who are passionate in delivering all the objectives of the Trust.
Achievements and perfomiance
a. Review of activities
Over the past year we have continued to achieve many good things in tenns of fulfilling our charitable aims
which are, to advance the Christian faith and the relief of sickness. We continue to partner with other indNiduals
and organisations recognised for their work and experience in these areas. Fuifilment of these charitable aims
is how the Trust assesses Suc￿sS in the reporting period. The Trustees decide upon grant-making based upon
the charitable aims of the Trust in order to achieve the aims as set out.
We have taken instruction on both the Charities Act 2008 and the Companies Act 2006. The trustees have in
particular considered the obligations regarding the public benefits test of the Charities Ad 2008 and can confimi
that the charity meets the criteria set down therein.
During the financial year the Trust had income of £217.602 (2022.. £2,033,750) and expenditure of £1,153,295
{2022'. £1,412,771). During the financial year the Trust had an unrealised gain on investments of £25,572 (2022
£Nil). At 30 June 2023 total funds of £4,443.854 were available to the Trust (2022: £5,355,455).
b. Fundraising activlties and income generation
The Trust recerves donations from related party companies and other voluntary sources. During the financial
year. £850 (2022: £2,025.131) of donations were received from related parties (related by virtue of common
director) as disclosed within Note 17 to the financial statements. Such donations allowed the Trust to maintain
the level of charitable acttvities and to strengthen the balan￿ sh￿t of the Trust for future charitable activities.
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The House of Vic-Ryn Trust Limited
(A Company Limited by Guarantee)
Trustees. Report (continuedl
For the Year Ended 30 June 2023
Financial review
. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectstion that the Trust has adequate
resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt
the going concern basis in preparing the financial statements. Further details regarding the adoption of the
going concern basis can be found in the accounting policies.
b. Reserves pollcy
It is the policy of the Trust that reserves that have not been designated for a specific purpose should be
maintained at a level equivalent to behveen three- and six-months expenditure. The Trust considers that
reserves at this level will ensure that. in the event of a significant drop in funding, they will be able to continue
the Trust's current activities.
At the year*nd total funds available to the Trust V￿re £4,443.854 (2022.. £5,355.455) of which £4,433,854
(2022.. £5.345,455) has been designated to the fLrture establishment of a nursing home. £10,000 was retsined in
General Funds in line with the Trust's reserve policy.
Structure, governance and management
a. Constftution
The Trust is incorporated under the Companies Act 2006. being a Company limited by guarantee not having
share capital.
The Trust has been fornally admitted as a charity for income tax purposes. The statutory reliefs under s.505 of
the Income and Corporation Taxes Act 1988 are admissible on income subject to compliance with the terms of
s.505 of the acL
The House of vIC-R￿ Trust limited is registered with the Charities Commission for Northem Ireland under
registration number NIC101859.
The Trust is governed by its Memorandum and Articles of Association since its incorporation on 16 January
2007.
b. Methods of appointment or election of Trustees
New trustees are appointed by the board as required.
c. Organisational structure and decision-making policies
The day-to4ay responsibility for the provision of seplices rests with Mr J Black, who ensures that the Trust
delivers the seNice specified and complies wth all relevant laws and regulations.
d. Policies adopted for the induction and training of Trustees
The Trustees are familiar with the practical work of the charity through their involvement with religious
organisations. Additionally. new members are infomied about the charity and their prospective role in it by the
existing Twstees. New members re￿1ve the relevant goveming documents, and financial reports. together with
a set of policies which govern the management of the organisation.
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The House of Vic4yn Trust Limited
(A Company Limited by Guarantee)
Trustees. Report (continued)
For the Year Ended 30 June 2023
Structure, governance and management {continued)
e. Related party relationships
The following companies are deemed to be related parties by virtue of common control; Wamiflow Engineering
Co. Limited, KVS Group (UK) Limited and leds Properties Limited. The Trust continues to work in partnership
with Child Evangelism Fellowship in the pursuit of its charitable objectives.
f. Risk management
The Trustees have assessed the major risks to which the Tnjst is exposed, in particular those related to the
operations and finances of the Trust, and are satisfied that systems and procedures are in place to mrtigate
exposure to the major risks.
Plans for future periods
i. ro advance the Christsan faith
Christian bookshop
The bookshop continues to trade in the House of Wic-Ryn in partnership with The Faith Mission. We reviewed
this partnership at the end of June 2021 and following discussions we were happy to mutually continue together
in this arrangement. Given the uncertainty in retail from conknnual Covid-19 Issues. we will keep this under
review. However, there is great value keeping the bookshop in the House of Vic-Ryn as it makes Christian
literature readily available to people from all walks of lrfe and it complements the T3 conference centre.
T3 Conference and Events Centre
Following Covid-19 lockdowns we have been able to start operating the new conference facilities at House of
Vic-Ryn, albeit on a redU￿d capacity. We are able to use these facilities in a very practical way to fulfil our
charitable objectives. There have been events to help promote the Christian faith such as generosity and
cornpassion, to continuing partnering with some of our health focused charities to educate around health issues.
The frequency and extent that we can do these initiatives remain very much dependent on the Covid-19
restrictions and rules.
2. Rellef of slckness
We have Continued to work together with The Friends of the Cancer Centre in the past year. Through
partnership wth them we have been able to help many people directly whose lives have unfortunately been
impacted by the disease. Keeping our work with the cancer sufferers in mind we have continued our support of
the Northem Ireland Children's Cancer fund and their respite ￿ntre in Newcastle. 'Daisy Lodge..
There still remains a desire to build a nursinglcare home but one of the potential sttes we had carried out a
feasibility study on has now been leased for fp4e years. This site still remains a longer-tern option for us and as
in previous years we feel that the timing is not right to progress.
In summary, this has been another year of learning. As ever there are challenging issues to deal with but we
have also been able to continue to assist many people in very varied and meaningful ways.
Members. liability
The Members of the Trust guarantee to contribute an amount not exceeding £1 to the assets of the Trust in the
event of winding up.
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The House of Wic-Ryn Trust Limited
IA Company Limited by Guarantee)
Trustees. Report (continued)
For the Year Ended 30 June 2023
Statement of Trustees, responsibilities
The Trustees (who are also the directors of the Trust for the purposes of company law) are responsible for
preparing the Trustees, Report and the financial statements in accordance wrth applicable law and United
Kingdom Accounkn'ng Standards (United Kingdom Generalty Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the
Trustees must not approve the financial ststements unless they are satisfied that they give a true and fair view
of the state of affairs of the Trust and of tts incoming resources and application of resources. including its
income and expenditure. for that period. In preparing these financial statements. the Trustees are required to:
select surtable accounting policies and then apply them consistently.,
observe the methods and principles of the Charities SORP (FRS 102)"
make judgments and accounting estimates that are reasonable and prudent.,
stste whether applicable UK Accounting Standards (FRS 102} have been followed. subject to any
material departures disclosed and explained in the financial stst@ments'.
prepare the financial statements on the going concem basis unless it is inappropriate to presume that the
Trust will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the Trust's transactions and disclose wrth reasonable accuracy at any time the financial position of the Trust and
enable them to ensure that the financial statements Gomply with the Coinpanies Act 200@. Tliey are also
responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention
and detection of fraud and other irregularities.
Disclosure of Inforniation to auditors
Each of the persons who are Trustees at the time when this Trustees, Report is approved has confimied that:
so far as that Trustee is ayrfa￿, there is no relevant audit infomiation of which the chartys auditors are
unaware, and
that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of
any relevant audrt infomation and to establish that the chaiitys auditors are aware of that information.
Auditors
The auditors, ASM (B) Ltd. have indicated their willingness to continue in office. The designated Trustees will
propose a motion reappointing the audiiors at a meeting of the Trustees.
Approved by order of the members of the board of TTUStees on 3 November 2023 and stgned on their behalf by..
U;Gl<>n'o UdlGds
Ms Norma Cousins
Ms Victoria Hylands
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