Charlty rnglstratlon numb•r NIC102096 {North•rn Ir•l•nd} Company rnglstratlon numb•r IP00257 INTERNATIONAL SCHOOL FOR PEACE STUDIES LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
INTERNATIONAL SCHOOL FOR PEACE STUDIES LIMITED CONTENTS Pag• Legal and adminlstrative Inforniation Twste88' report Independent a*1108 report Statement of finandal activlties 10 Balance 11 Notes to the financlal slat•ments 12-19
INTERNATIONAL SCHOOL FOR PEACE STUDIES LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Truslo•s Mrs D Martin Mr D Jenkin4 Mr P Craig Mr D Woods Mr M Mccartney Ms M Cronln-McC8rtney Mr G Dodds {Appointed 23 October 2023) (Appointed 27 February 2025) (Appolnted 24 Aprfl 2025) S•cr•tary Mr M McC8rtney Charlty numb•r (North•rn Ir•land) NIC102096 Company numb•r IP00257 R•glst•r•d offlco Ebrington Business Centre Glendermott Road Londond6ry 8T47 6BG Audltor Moore (Nl) LLP 21123 Clarendon Street OerylLondondery BT48 7EP 8ank•rn AIB Bank Meadowb8nk Strand Road Dery-Londond8ry BT48 7TN Ulster B8nk POBox3 29 Clooney Terrace Londonderry BT47 6AS SollGltor• Glllan Baff & Co. Inc Mcclenahan Cros8ey 41 New Row Coleralne County Londond8rry BT52 1AE
INTERNATIONAL SCHOOL FOR PEACE STUDIES LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 AUGUST 2024 Thè Trustees present their report and finand81 statemenk8 for the year ended 31 August 2024. The financlal Statements have been pr8P8r8d In accordance wlth the accountlng pollcles set out In not8 1 to the flnancial ststem&nts and comply wlth th& chartys Memorandum and Articles of Associatlon, the Industrlal and Provident Societles Act 1969 and 'Accounting and Reportlng by Charitles: Statsment of Recommended Practlce appllcable to charfties prgparlng thelr accounts in accordanc6 wlth the Financial Reportlng StarKl8rd appIlble in the UK and Republ of Ireland (FRS 102)" (as amended for accounting peric>ds commencing from 1 January 2019) ObJ•ctlv•s and actlvttlos Our Vl•lon, Ml88lon and Values The work of the Intemational School for Peace Studies is to help build bridges and promots 8 peaceful and irdu81 society for all in the island of Ireland. Our Vlslon We believe'.- In a Society where conflict can be resolved non vlolently That everyone has a voice and deserves to be listened to In a society where the humanity of everyone is respected and acknowledged Our Mls*lon The Internats'onal School for Peace Studies (l.S.P.S) Is dedicated to the resolwng of differences and wnflict transfomiation through exdu81vely peacefijl mean8, and rejects all fomis of violence or 1ntlmldat1 88 8 means to creating change. Our V•lu•8 All our worklg drfven by our purpose and core values.. To promote confllct resolutlon, reconclllatlon and paace bulldlng for thè publlc benefft, nath)nally and Intematlonally so as to r8118ve suffarfng and dlstr8SS To bulkl and malntsln 8ocI81 coheslon and trust V41thln and between commurmties Promote undetstsndlng, r8spect. frlendshlp. tolerance 8nd peace between all communl Devi88 and dellv8r slngle identy and cross communlty programmes Advance communlty development through accr8drted and non accr6ded educatlon81 courses To encourage cultural development whlch 8UPPOrt peace actlvltles In Northern Ireland and the R8publlc of Ireland To be a locatlon for people to vlsit and participate In programm8S To fulfil our alm8 through inclu8ivty, credibillty, honesty 8nd integrity and by wothing in p8rtnership w¢th others To apply the hh86t corporate govemanca standards to all proJectslprogramma8 in reGelpt of publlc funds Offer equal opportunities for all to benefft from what we have io offer To invite all people of Ireland to embrace the story of Messines and its spirlt of brotherhood
INTERNATIONAL SCHOOL FOR PEACE STUDIES LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Achlev•mant$ and porfomiance traban Al &9 Through the allocation of DCSDC Good Relations Grant in August 2023 the Intemational School for PeaGe Sttxlies Was able to deliver a $8rtes of workshop8 'Holocaust Awareness". The group participated in 5 workshops. visit to synagogue and delivered a Holocaust Memorial Day event. Th8 Conflict Transformation and th8 Messin8s Story Homephase Project (REcFUND4)LlS82) was 8uccessfiJlty delivered to Sion Mills Communlty Forum and due to an under-spend the group engaged In a further 4 workshops under the theme of Flags & Emblems. This took place JanuarylF8bruary 2024. An appllGetion was submitted to the Department of Foreign Aff8lrs to deliver an OCN Level 1 in Conflict Tran8fomalyon and the Me38ines Home-phase Programme 2024-2025. A Letter of Offer was I1Ved in June 2024 statlng that a grant has been 8pproved for the amount of E12,488 (£10,247.40). This programme will be delivered to Bovalley Communlty A8swation. hu As part of Good Relations Week th8 Churches Trust engaged the Servlces of the Intemational Sehool for Peace Studies to d8llv8r a workshop under tt)e toplcs TNomen In Warlwomen & Peace.. Thls was dellvered t approximately 100 women on 211¢ September 2023 in the Gulklhall. ommun Through the organisatlon Good Relatlons Grant ISPS was asked to dellver a workshcp based on protestant cultural to th8 r8sldents wlthin the area. This took place on 20th September 2023. m••l• C•n As part of the commemoratlon for the 25th Annlversary of th8 Island of If81and P8ac8 Park th8 coryml8 C8ntrè ask8d the Intematlonal School for Peace Studies to facilltstè a workshop In Belglum to young people from all around tho VK)rld. In February 2024. ISPS received a Letter of Offer to deliver Holocau8t Awarene88 Workshops through its Funding and Development Programme of the Nl Community Relatlons Council. The amount granted towayds tho dellvory of the programme was £2,415.00. The programme was dellvored within the deadline of 3111 March. Groups from the Easvsouth 88lf8St ar8a completed an OCN L8V811 in Confllct Transformation & The Messlnes Story Homephase. Through the success of this programme the group travelled to B8lgiumlFr8nce in October 2023 to complet• their OCN L•vel 2 "Conffict TranSf0mtIOn & The Messines Experlence.. In In September 2023 the Ebrington Oaks group participated in our newly developed one-d8y tsstsr w)rk8hops. They completed 5 workshops and attended a play In the Mlllennium Forum titled "Observe the Sons of Ulster Marching to the Somme.. Trlan l• Housln & Arc Housln Participants from the Armagh area complet8d an OCN Level 1 "Holoc8USt Awar8n888" programme In January 2024 which was followed by an educational trip to Krakow In April.
INTERNATIONAL SCHOOL FOR PEACE STUDIES LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Trlan le H usln hool Llnk$ Pro mmo Through a series of meeting8 with the Good Relatlons 01Cer (Trlangle Housing), ISPS staff and Sthool Prindpals Ft was agreed that Limavady High School and St Mary's High School would engage in the following programmes OCN Lével 1-Conflict TransfoMtIOn & The Messines Story Homephase. and OCN Level 2 "Conflict Transfonnation & The Messin8s Exp8ri8nce. nn Residents from the Whiteabbey area have been Selected to take part in an OCN Lev811 'Conflict Transf0mtiOn & The Messines Story Homepha68 Programme.. This programme commenced in June 2024. Repr&senlativ8s from Ormeau and Rosario Men's Shed completed an OCN Level 1 'Conflict Transformation & The Messines Story Homephase. programme. The programme delivered from October 2023 to November 2023. The housing association also approved a group of young people from Rosario & Streetbeat Youth Clubs to engage in our OCN Level 1 Holocaust Awarèness programme. The series of workshops commeneed in February 2024 and finish March. In August 2024 the yDurKd people travell8d to Poland to experience the atrocib'es of Auschwllz and 8irkenar and the holocaust. Flnanclal r•vl•w Total Income for the y8gr wa8 £213,908. of whlch approxlrnately 7% wa8 generated frorn grants and 93% from other charltabla activltlos. Total expendlture ¥v88 £192,497 and 100% of thls was expended on dlrect ch8ritablo actlvltl8S. The balart8 on total funds at th• y8ar4nd wa8 £276,119. of whlch £265,872 wa8 unreslrlcted In naturo and £10,247 was restrlcted In natur8. R•ry•S pollcy The Trustees conslder It prudent to hold monlès In reserve In tho ev8nt that unforeseen c1uMstanceS shoukj lead to flnanclal dlfflcultla8 whlch mlght put the future of Its 8mployment capaclty. user8, w811-belng and general chatabl0 work in Jeopardy. The Trustees have examined the charity's requirements for reseprfes in the lighl of the maln risks to the organlsation and established a formal pollcy whlch stlpulates that free reserves be malntsined at a level whid) ensures that the charfty's core acfvlty could continue durlng a pèriod of unforeseen drfficulty. Free reserves are defined by the Trustees as unrestrlcted income funds freety avallabl8 for use as the charity so detemiln88 and thereby exclude8 any funds commrtt8d, inv8sted in tarKJible fixed assets held by the charlty and restricted or d86ignated funds. The Trustee8 have as8ess8d the major rl8k8 to which the charity, and are satisfied that systems are In place to mitigate exposurn to tho major ri8k8.
INTERNATIONAL SCHOOL FOR PEACE STUDIES LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Plans for fvture p•rlods Our immediate plan for the future is to contlnue to work and secure the sustainability of the charity and the vrtal work of our Messines Project. We are rrenY focused on continuing to source fundlng from trusts, foundatlons and statutory agencies for programme and core co8ts to contlnue our vital projects and services. The Intemational School for Peace Studies is exiendlng its portfolio of ac(*edil8d and non-accredlted programme8 and is in the process of developing the following :. OCN Level 1- Dlversty & Good Relations, Prejudice. Discrimination OCN L8vel 1- Diversity & Good Relations. Dlversity In Socioty OCN Level 2- Conflict Transft>rmation The Balkans One Day Introductory Programme:. Confllct Transfomiation Flags. Identity, Culture & Tradth'on - Far more than Ywo Traditk)n8" Genocide - A Waming from History The Holocaust War in Bosnla - Rememberbng Srebr6nl¢a Women in War Struclur•i gov•rn•nc• and managom•nt Govornlng docum•nt Intematlonal School for Peac8 Studles Is a society Ilmlted by gu8r8ntee and accepted as charttabl8 by HMRC under reference 40250. The socloty was establlshed under the Industrial and Provident Socl8t18s Act 1969 whlch 8stabll8hed the objects and powers of the soclety. Th8 Ilabllity of members Is limited in that every memb8r of the 8oclety undertake8 to contrlbute an amount not exc88dlng £1 In the event of the company b8lng Und up. The Trust885. who are also the dSr8clors for the purpose of company law, and who served durtng the year and up to the date of slgnature of the Ilnanclal 8tatements wgre: Mr SW Barr (Reslgned 27 November 2023) Mrs D Martln Mr D Jenkin8 Mr D Whlte MrPCra Mr D Woods Mr M Mccartney Mrs K McLaughSln Ms M Cronin-mccartney Mr G Dodd8 (Re8ign8d 19 October 2023) (Appointed 23 Octob8r 2023) (Appoint•d 23 Octobèr 2023 and reslgned 28 January 2025) (Appointed 27 February 2025) (Appolnted 24 Aprll 2025) R•crultm•nt and •ppolntm•nt of tru•tees Under the requlrem8nts of the Industrlal and Provident Soclety unless oth8rwbe detem)ined by the company In General M88ting the number of Trust888 shall not b8 less than four. Truste8s are 818ct8d 10 8èrv8 only unt51 th8 next Annual General Meeb'ng at whlch they shall th8n b& ellglble for reelectlon. In the financial year two new Truste88 were appolntod. The Board as a wholo was apprnved by the AGM and contlnu8S to monbtor tts member8hlp.
INTERNATIONAL SCHOOL FOR PEACE STUDIES LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Rl8k Man&g•m•nt The Trustees are awar8 of the major rfsks to whlch the charity is exposed. Vthere appropriate, systems Of procedurès hav8 b88n established to mFtsgate the risks the charity faces. Intemal control are minimised through the procedures for authorisation of all transaction8 and projects. Procedures are in place to ensure compliance with applicable laws and regulations. Th88e procedures are reviewed perlodically to ensure that they (x)ntinu8 to m88t the needs of the charity. All members of the Board of Trustees give their time voluntsrily and receive no b&nefft8 from the charlty. Any expanses redaimed from the ch8rtty ar8 set out in the not66 to the financial 8tatements. Statsm•nt of Tru8t•••' rn•pon•lbllltl The Trustees. wtho ara also the d1ctOrS of International School For Peace Studies Lirnit8d for the purpose of company Lqw, are respon84ble for preparing the Trustees, Rert 8nd the financial ststemonts In accordance wlth applicable 18W and United Klngdom Ac¢ounUng Standards (United Klngdom Generally Accepted ACCOUnn9 Practice). Company law requ1rn8 th8 Tru8tee8 to wep8re fin8ndal 8tatements for each fin8nci81 ye8r whlch gfve a true and falr vlew of the state of affalrs of the charlty and of the Incoming r880urces 8fKI appllcatlon of resourceg, induding the Income 8nd axpendllure, of the chwltable company for that year. In pr8parlng these flnancial statements, Ihe Trustees are required to: - select suitable accountlng polldes and than apply them consi8tenty; - observe the methods and prfnclpl8s In the Char4tles SORP., - make judgements and estlm8tas that are reasonable and prudent: state whelher appllcabl8 UK Accounung Stsnd8rds have been followed, subject to any materlal departur88 dlsdosed and explained In th8 financlal ststèments; and - prepare the flnanclal statements on the going concam basls unless It Is In8pproprl8te to presum• that the charlty wlll contlnue In operatlon. Th8 Trustses are respDn8lbl8 for keeplng 8d8quat8 accountlng records that dlsclose wSth reasonable accuracy at any time the finandal posltion of the charty and enable them to ensure that the financial statements comply wlth the Companles Act 2006. They are also responsible for safeguarding the assets of the charlty a1 hence for taking reasonab 8t8P8 for the preverftlon arKS detectlon of fraud and other Irrngu1aTItI. Audltor In accordance with the charitvs article8, a r8801utSon proposlng that Moore (Nl) LLP be reappointed as audltor of tha chaiity will be put at a General Meetlng. The Tru8tses' report wa8 approved by the Board of Tru8tee8. Mrs D M8rtin Trusts• Mr P Craig Mr M Mccartnay S•crntary 18 September 2025
INTERNATIONAL SCHOOL FOR PEACE STUDIES LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF INTERNATIONAL SCHOOL FOR PEACE STUDIES LIMITED Oplnlon W8 have audited th8 flnanclal statements of Int8mational School For Peace Studies Limited {th8 'charity} for the year ended 31 August 2024 which cornprise the ststement of financial activities, the balance Sheet and notes to the financial 8tstements, including significant accounting PDIici8s. The financial reportlng framework that has be8n applied in their preParatn Is appllcable law and United Kingdom Accx>unting Standards, including Flnancial Reporting Standard 102 The Financlal Reporting Standard applicable in the UK and RepublK of Ireland (United Kingdom Generally Accepted Accountlng Pr8Ctice). In our opinion, the financial staternents.. glve a true and fair vlew of the stste of the charilable society's affairs as at 31 August 2024 of its incomlng resources and application of resources, for the year then end8d' have been pmperty preparad in accordance with United Klngdom Generally knepted Accthintlng Practlce: and havo been prepared In ac(x>rd8rK8 wth the requlraments of the Industrlal and Provldent Sodetles Act 1969. B••l8 for oplnlon We corfflucted our audlt In 8ccordanc• ¥th Int8m8tlon81 Standards on Audltlng (UK) (ISA8 (UK)) and appllc8ble law. Our re8ponslbllltl88 under those 8tar¥J8rd8 are further d88cribed In the Audltorfs rnsponslbllltlos for the audlt or the ffn8nclal st8tementS 88Ction of our report. We ar8 independent of the charity In accordance wlth the ethical r8qulr8ments that are rel8vant to our audit of the financial statements In the UK, Includlng the FRC'S Ethlcal Standard. and we have fuffi118d our other ethical re8pon81biliti88 in accordance with these requirements. We believe that the audit evidence we hav8 obtsined 18 sufficient and 8pproprlate to provKle a b88is for our opinion. Conclu•lons r•lallng to golng concorn In auditing the finandal statements. wo have concluded that the Trustees, u88 of the going concem basis of accountlng In thg preparatlon of the flnancS818tstem8nts is approprfatg. Based on the VK>rk we have pèrlom)ed. wo have not Identified any Mate81 uncertaintles relatlng to events or condltlons that, individually or collectively, may cast slgnificant doubt on the charity's ability to contlnu8 as a going concem for a perkJJ of at least twelve months from when the financial statements are authorts8d for Is6ue. Our responsibilitses and the responsIlItIeS of the Twstees with respect to going concem are doribed In ttr relevant 8ection8 of th18 report. Oth•r Inforniatlon The other informatlon compr1•88 the Informatlon Included In the annual report other than the flnancl81 stotements and our 8udltorf8 report thereon. The Trustèes are re8pon81ble for th6 other Infonn8tlon eontalnod wlthln th6 annual report. Our oplnlon on tho flnenclal 8tatements do8s not covar tha othor Infomaoon arKI we do not •xprè88 any form of 88sur8nce conclusion thereon. Our responslblllty Is to read the other information and, In doing so, consider whether the olh8r Inforrnatlon Is matarlally inconslst8nt the fin8nd81 ststements or our knowledge obtained In the course of the audrt, or oth8rwi8e appears to b& materlally mlsstated. If we identfy such materlal In(x)nslstencles or apparent materfal mSsstatèments, we are requlr8d to determine whether this glves rlse to a material mi88tatement In the financial statements them8elves. If. based on the work we have performed, we condude that there is a materlal mlsststement of thls other Inlorm8tk)n. we are requlred to report that fact. We have rthIng to report In thls regard. Matters whlch w• ar• r•qulr•d to r•port by •xc•ptlon We have nothing to report in respect of th8 followrng matter8 in rèlatlon to whlch the Charltles Accounts and Reports Regulations (Northern Ireland> 2015 requires us to report to you rf, in our opinion: the Infonnation gNen in tho financial statements is inconsistent in any material respect wilh the Trustaos, report: or sufficaent accounting records have not been k6pt' or the financial statements are not in agreement wtth thè accounting records., or we have not recelved all the Inft)miation and explanations we require for our audlt.
INTERNATIONAL SCHOOL FOR PEACE STUDIES LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF INTERNATIONAL SCHOOL FOR PEACE STUDIES LIMITED Responslbllltles of Trust•os As explained more fully in the st8tament of Trustees, responsibilities. the Trustees, who are also the directors of the Gharity for the purp08e of company law. are responsible for the preparation of the financial statem6nts and for being $8ti$fied that they give a true and fair view. and lor such Internal control as the Twstees determine is necessary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or error. In preparlng the financiol statements, the Trust8e6 are responsible for assessing the charity's 8bllity to continue as a going concem, disclosing, as applicable, mattats related to going concem and using the going concern basis of accounting unless the Trustees elther Intend to liquidate the charitable company or to cease operatlons. or have K) rnalistlc alternave but to do so. Audltofs r•spon•lbllltl•• for the audll of the fina141 #tal•m•nt8 Our objectives are to obtain reasonable assurance about whether the financial statements as a wholg are free from material mLsstatement, whether due to fraud or error. and to Issue an auditorfs report that includes our oplnlon. Reasonable assurance Is a high level of as8urance but is not 8 gu8r8ntee that an audit conducted In accordance wlth ISAS (UK) will always detact a materlal misstatement when It exists. Misstatements can artse from fraud or error arrtl are consldered m8terlal11, Indlvidu81ty or Sn the aggregate, they could reasonably be exK>ected to Influence the economlc dè¢i8ion8 of u8ers taken on tho basis of the88 flnanclal statemants. The extant to whlch our procedures arn Capable of detectlng irregularitles, Includlng fr8ud.18 det811ed below. Ext•nt to whl¢h th• audlt vms conslder•d capabl• of d•tKtlng Irr•gularltl•8, Includlng fraud The objectlves of our 8udSt in respect of fraud. are; to Identy and 8ss&ss the rlsks of material rnlsst8t6ment of tha financial ststsments due to fraud., to obtaln sufficient approprlate audil evldence ragardlng the assessed rSsks of mated81 mlsstatament du8 to fraud, through deslgnlng and implementing appropriats responses to those ass888ed r18k8: and to respond appropriately to Instsnces of fraud or 8USPeCt8d fraud identlfled durfng the audlt. However, the prlmary responsibillty for the preventlon and deteclk)n of fraud rosts wlth both management and thc*a chargod wlth govemance of the charttable company. Based on our understanding of the charltable company and Its operatlng environment, w6 determlned that the m08t 81gniflc8nt frameworks which have a dlrect impact on th8 preparation of the financlal statements are those re18ted to the reportlng framework, (FRS 102, the Charlties Act {Northem Iraland) 2008, The Charities (Acc%)unts and Reports) Regulatlons (Northom Ireland) 2015, the Charity SORP and the Industrial Provid6nt Society Act. We a88888ed th8 8USC8Ptlblllty of the charltable compan8 financial Statements to matertal mi88tatement, Indudlng how fraud mlght occur, Including evalu8tlng management's Incentlves and opr)Drtunitie8 to manage eamings or Inlluence the reported r88uIts. From the results of our a86886mant, w• dotemiined that the prlncipal ri8k8 of fraud relate to Posting inapproprfate Joumal •ntrl88 and use of charity funds for purpo8e8 outslde of r8stridon8 Imposed by tho donor. In common wlth all audit8 under ISAG (UK), we are required to perform splfi¢ procedures to rew>nd to th0 rl8k of managem•nt ov•rrfd8.
INTERNATIONAL SCHOOL FOR PEACE STUDIES LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF INTERNATIONAL SCHOOL FOR PEACE STUDIES LIMITED
Audft rnsponse to rlsks Id•ntlft•d
AS Part of an audit in accordance with ISAS (UK) we exer58 professional judgement and malntaln professional
scepticism throughout the audrt. Audit procedures perfomed by the engag8ment tearn included:
We obtained an under8t8nding of the ch8ritsble company's internal control systems in order to desrgn audit
prcKedures that are appropriate in the circumstances, but not for the purposes of expresslng an oplnlon on
the effectiven&ss of the charitable companls intemal control.
We obtained an understanding of how the charitsble company rnmplies with relevant laws and regulatlons,
including those as a resutt of Its reglstratlon wFth the Charity ComrniSsn for Northwn Ireland and
charitable status with HM Revenué & Customs . by making enquiri86 of management and those charged
with gov8mance.
Enqulry of management, those charged whth governance and the entty's solldtofs around actual and
potential Irtigation and claims.
Enquiry of entity staff to IdentFfy any Instsnces of non-complian¢8 laws and regulaOn$.
Perforrning analytical procedures to identify any unusual or unexpected relationships that may Indlcate
risks of materi81 misstatement due to fraud
Reviewbng mlnutes of meetings of those charged with governance
Reviewing financial ststement disclosures and testing to supporting documentation to 88sess compll8nce
with applicable18W8 and regulations.
Audth'ng the rlsk of management override of contrds, Includlng through testing journal entrles and other
adjustments for 8ppropri8teness, and evaluatlng the bu81ne88 ratlonale of sSgnificant transactlon8 that are
unusual or outslde the nomal course of buslness.
Audrting the rlsk of u88 of charity fvnds outslde of rostrlctlons Imposed by the donor by revl•w of fundlng
18tt8rs of offer to identify restrlcllons, and revlew of furKIINJ dalm8 prepared by management to check
Com18n¢8 with restriclions.
We communlcat8d relevant18W8 and r8gulatlons and potentlal fraud rlsks to all engagemènt t8em member8. and
remalned alert to any Indlcatlons of fraud or non
INTERNATIONAL SCHOOL FOR PEACE STUDIES LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024 Curr•nt financl•l y•ar UnrMtrIcl R•8trlcted fund8 fund• 2024 2024 Total Totsl 2024 2023 Not•s Charltable activrti8S 199.245 14,663 213,908 218,475 nd Charitable aCtIve8 187,238 5,259 192,497 251,299 Not 1ncomell•xp•ndIre> for th• y•arl Ngt mov•m•nt In fund• 12.007 21,411 (32,824) Fund balances at 1 September 2023 253,865 254,708 287,532 Fund b8lanc•s •131 August 2024 265.872 10,247 276,119 254.708 The slatement of finan¢lal activltles Includes all galns and l¢)sses recognlsed in the year. The statement of finandal actlvltle8 Includes all galn8 and losses recognised in the year. All income arKI expendlture derive from (X)nnu1ng actlvitle8. The 8t8t6rn8nt of financlal 8Ctlvltss al80 compll8s vAth the requlrements for an income and expendllure account under thè Companies Act 2006. Prtor Ilnanclal y•ar Unrn•trlcled R••trfct•d fund• fund• 2023 2023 Total 2023 Charitable aclivltles 207,733 10,742 218,475 Iturn Chadtable activtties 239.856 11.443 251,299 Nel Income1(exndI1ul•) for tho yoarl Not mov•m•nt In fund• (32,123) 1701) (32.824) Fund balances at 1 September 2022 285,988 287,532 Fund balanc at 31 August 2023 253,865 254.708 10-
INTERNATIONAL SCHOOL FOR PEACE STUDIES LIMITED BALANCE SHEET ASAT31 AUGUST2024 2024 2023 Notos Flx•d a8•0ts Tangible ass8ts io 722 551 Current a8ut• Debtors Cash at bank and In harKI 51.703 248,114 3.053 269,719 299,817 272,772 Credltorn: amounts falllng du• wlthln yaar 12 (24,420) (18,615) N•t ¢urr•nt as8•ts 275.397 254,1S7 Total a•s•ts 1•81 curr•nt Il•bllltl•• 276,119 254,708 276,119 254,708 Th• fvndl of th• charlty R•8trlct8d Incorn• fiJnd8 Unrostrfcted fur 13 10,247 265,872 253,865 276,119 254,708 The company Is enuued to the 8xemptlon from the audlt requlr6m8nt contalned In 88ctlon 477 of the Companles Act 2006, for the year ended 31 August 2024. The dlrectors ackrN)wledge thelr rèsponslblllUe8 for complylng wlth the reoulrements of tho Companlgs Act 20r with respect to accountlng records and th6 pr8p8ratlon of flnancl81 statements. Th• flnancial statements wero approved by the Tru8tee8 on 18 September 2025 Mrs D Martln Trt•• MrPCra Tru8t•o Mr M Mccartney Secretary Company registration number IP00257 (Northem Ireland) 11
INTERNATIONAL SCHOOL FOR PEACE STUDIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accountlng pollcl•B Charlty Inforniatlon International School For Poace Studl88 Limlted is a soclety Ilmlted by guarantee incorporated in Northern Ireland. The registered office is Ebrington Business Centre, Glendermott Road, Londonderry. BT47 6BG. 1.1 Aceountlng conv•ntlon The finandal 8tataments have been prepared In accordanca wlth the charlty'8 M8morandum and Athl88 crf A660clatlon, the Industrfal and Provldent S(xletl88 Act 1969 and "Accountlng and RewtlrYJ by Charftie8: ststement of Rècommand•d Practlce appllcabla to charltl&8 preparlng th•lr accounts in accord8nce wlth th• Flnanclal Reportlng Standard appllcablo In the UK and Republlc of Ireland (FRS 102). (a8 amendad for accounung p8rltsJ8 commendng trom 1 January 2019). Th• charlty 18 a Publlc Benofit Entty a• d•fin•d by FRS 102. The charity has tsken advantage of Ihe provlsions Sn the SORP for charttles applylng FRS 102 Update 8ulletin 1 not to prepare 8 Statement of Cash Flows. The financial statements are prepared in sterlln9, whlch Is the functional currency of the charlty. Monetary amounts in the8e flnanclal 3tstements are rounded to the nearest £. The financlal staloments havo been prepared under the historical cost convantlon. [modified to include t revaluation of freehold prop8rt188 and to include inveslment properties and certaln financial in8trum6nts at fair value]. The prlndpal accounting polKles 8dopted are sot out below. 12 Golng conc•rn At the time of approving the financlal statements, the Tru8tee8 h8ve a re880nable expectatlon that the charfty has adequate re80urce8 to contlnue in operational existence for the foreseeable future. Thu8 the Tru8tee8 continue to adopt the golng concern ba818 of accountlng in prepaflng the fjnanclal Statements. 1.3 Chrltabl• funds Unrestrictad lund8 are available for u80 at the dlscmtion of the Trustees In furtherance of tholr charllable objecttV•J, De81gnated fvnd8 comprlse fiJnd8 whlch have been set aside at the dlscretlcffi of the TnBtees for spedfic purposes. Th8 purpos8s and u88$ of tha d•snated funds are set out Sn tha notes to the finand818tatements. Restricted fijnds are subject to Specific conditions by donors or grantors 88 to how they may bo u68d. The purpos8s and usos of the r88tr1ctod fund8 are s8t out in the notes to the financial statements. 1.4 Incom• Incom818 recognlsod when the charity 18 legally entitlad to It 8fter any performance condltlon8 have bean mot, the amounts can be measured r8llaW, and It Is probablo that nme wlll be received. Cash donations are recogni88d on recaipt. Oth8r donations are recognisad once the charity h88 been notified of the donation, un188S P8rformance conditTrons require deferral of the amount. Income tsx rec¥)verable in relation to donatlons recelved urM*er Gfft Aid or deeds of covenant is recognised at the time of the donatDn. Legacles are recognlsed on r8c8iPt or otheiS& If the charity has been notlfied of an impendlng dlstrlbutk)n, the amount is known, and receipt Is expected. If the amount is not known, thè lègacy is treated as contlngont 8888t. 1.5 Exp•ndltur• Expendhur8 Is recognised once there is a legal or construcdve obligation to make a payment to a third paty. it is probable that settlernent will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT 18 charged as a cost ag8inst the 8Ctivity for which the expenditure was iUrred. 12-
INTERNATIONAL SCHOOL FOR PEACE STUDIES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Ac¢ountlng pollcl (Contlnu•d) Expenditure on charitable activitles Indudes the cosls of services undertaken to further the purpws of the charity and their assoclated support costs. 1.6 Tanglble fixad a88•t8 Tangible fixed assets are inlti8lly measured at cost and subsequently m8asured at C061 or valuatlon, nfrl of depreciation and any Impalnnent losses. Depreclation Is racognlsad so as to wrFte off tho Cost or valuatlon of as8ets1888 th•ir re8klual values over thelr usefijl INes following ba8es: Flxturns and ffttlng8 12.5% & 20% 8tralght Ilno The gain or loss arlsing on Ihe disposal of an asset Is determirled as the dlfference bètween tho sale proceeds and the carrying value of the a&8et. ar is recognised In the statement of financial activitie8. 1.7 Impalrni•nt of Ilx•d a•Mts Al each rfrportlng erKI date, the charlty revl8ws the carrylng 8mount8 of Its t8nglble a888ts to d8t8rmlno wh8th6r there Is any Indlcatlon that those assets have suffer8d an Impalrmont 1088. ff any such Indlcatk)n xists, recovefabl8 amount of ts as8et18 08tlm8ted In order to d8t8rmlne tho •xtent of tho Impairment loss (If any). 1.8 Cuh and ca•h •qulval•nt• Cash and cash equlvalents Include Cash In hand, deposlts held at call with banks, Other short-term Nquld Investments wllh orlginal maturiti8s of three months or less. and b8nk overdrafts. Bank overdrafi8 8re shown wlthln borrowlngs In current Ilabilitles. 1.9 Flnanclal In#truThnts The charlty has èlected to appty the provisions of Sectlon 11 'Baslc Financial Instruments, and Sectlon 12 'Other Financial Instrumants Issues, of FRS 102 to all of Its financial In8truments. Fin8n¢Tral in8trum8nts ar8 recognised in the charW8 ba18nce 8heat when ts charlty becow party t£• the contractual provl8lons of the In8trumenL Financial assets and Ilabiliti08 are off8Ot, wlth th• n•t amounts presenlad In th8 financlal 6tatement8. wn there is a legally enforceable rlght to set off the recognised arnount8 and ther8 18 an Intention to 8etUe on a net basis or to realise the asset and setue the liablllty simultsngously. B•8lc financ1 a8s•ts Basic financial assets, which include debtors and cash and bank balances, are InFtFally measur•d at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes 8 financing transactlon, where the transaction is m88sured at tha present value of th8 future receipts discounted 8t a market rat8 of Interest. Flnancf81 assets classlfied a8 recelvable wlthln one year are not 8morttsed. 13-
INTERNATIONAL SCHOOL FOR PEACE STUDIES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accountlng pollcl•8 (Contlnu•d) Bask fln•nclal Ilablll(l•s Basic financial li8bllities. induding creditors and bank loans are iniallY recognised at transactlon price unless the arrangement constitutes 8 financlng transaction, where the debt instrument is measured at the present value of the futu p8yments dISUnted at a market rate of Internsl. Financlal li8bilitie8 dasslfied 88 payable within one year are not amorb'sed. Debt instruments are sub8equenty carrfed 8t arno8ed cost, uslng the effectlve Interest rate m8ttrth. Tr8de cmdltors are obligatlons to Pay for goods or seDAce8 that have bn acqulred In the ordlnary couw of operations from suppliars. Amounts p8yeble are cla8$tfiod as Currant Ilabilities If payment Is dua wlthln one year or 1888. If not. they are pr888nted as non<urr6nt liabllltles. Trade credttors are recognlsed inhlalty at transaction prlce and subsequenty me88urod at arno88d c08t Uslng eff8dve Int8re6t mthod. D•r•¢ognldon of fln•ncl•l IlablllU•8 Flnandal Ilabllltles are derec4)gni8ed when th8 charltys contractual obllg8tlons explre or are dl8charu8d or can(x116d. 1.10 Taxatlon The company 58 a ch8r7ty and 18 recognlsed 88 such by HM R6venue & Cu8tom8 under the charlty 18X referenco XR11534. AS a r88uft. there18 no liablllty to taxatknn on any of its Income. 1.11 Employm b•n•fit• Tha cost of any unusod holKJay entitlement Is recognised in the pariod In whlch the empk)yee'8 8•rvlce8 ar8 Temiinatk)n beneffts aro recognised Immedl8tely as an expense when the charfty18 demonstrabty corrmltted to terminate th• •mployment of an empk)yee or to provide termination benefits. Crltl¢al accountlng tImat and Judg•m•nts In the application of tho charfty's accounting polici88, the Trustees are required to make Judgements, estlmates and assumptlons about the caryin9 amunt of asset8 and liabllities that are not readily apparent from other sources. The estimates and associated assumptions are based on historlcal experlence and other factors that are considered to be relevant. Actual results may drffer from these estimates. The estlmates and underlying assumptlons are reviewed on an ongoing basis. Rev6sions to accountlng estimates are recognised in the perlod in whieh the estimate is revised where the revision affects only that period, or In the pericKJ of the revision and fvture periods where the revision affects l)oth current and future perlods. 14-
INTERNATIONAL SCHOOL FOR PEACE STUDIES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Charttabl• actlvlU•s 2024 2023 Performance related grants Programm8 incom• Other income 14663 198.395 10,742 207,038 695 213.908 218,475 Analy•l• by fvnd Unrestricted funds - general Restrlcted funds 199245 207.733 10.742 213.908 218,475 P•rfornianu r•lat•d grant• DCSDC - Good Relalons CRC - Holocaust Awareness DFA M6ssines Home Phase 000001582 DFA Me86in88 Home Phase 000002251 1000 2.416 6.799 10347 10,742 Ewndltur• on charltabl• actlvltles 2024 2023 Dlr•ct cost• Depreciatlon and Impalment Grant costs Programme u)sts 233 11,443 151,633 5.259 104691 110,065 163.309 Sh*r• of •upport And gov•rn•nc• co•1• (M• not• 5) Support Governance 71.103 68.247 19.743 192N97 251.299 Analysh by fund Unrestricted funds Restricted fijnds 187238 5,259 239.856 11,443 192A97 251.299 15-
INTERNATIONAL SCHOOL FOR PEACE STUDIES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Support costs allocat to actlvltl•s 2024 2023 Staff costs Prernises costs Administratlon cost8 Motor $ts 8ank charges Sundry c08ts G0manCe costs 48,500 12.894 3.757 78 411 2.607 19,743 13,123 3.287 387 3,512 11.329 82,432 87,990 Analys•d b•tw••n: Charltable actlviti88 82,432 87,990 N•t mov•m•nt In fund• 2024 2023 The nèt mvement in fund8 18 8tsted after chargingl(crediting): Fees payable for the audlt of the charitvs financlal 8tatem6nts Depreciation of owned tsnglble fixed 888ets 4,085 115 3,975 233 Tru•t•8• None of the Trustees (or any p8r8on8 connected wlth thern) receNed any remuneration or beneffts from the charity during the year. Employ••• The average monthty number of employees durfng the year was: 2024 Numb•r 2023 Numb•r Ernploym•nt co•ts 2024 2023 Wages and salarfes 50.400 48,500 There were no 8mployees who8e annual rernuner8tion was more than £60.000. 16-
INTERNATIONAL SCHOOL FOR PEACE STUDIES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Employee8 (Contlnu•d) R•mun•rntlon of k•y manag•ment p•rnonnel The remuneratlon of key menagement personnel was as follows: 2024 2023 Aggr8gate cx)mpensalkJn 50.400 48.500 Taxatlon The charlty Is exempt from taxatlon on Its actlvltles because all Its Income Is appllad for charttable purposes. 10 Tanglbl• ffxed ass•t8 Flxtur•• and fdlln Cost At 1 September 2023 Additlon8 5.649 287 At 31 August 2024 D•pr•cl•tlon •nd SmlMnt At 1 Soptembfjr 2023 Deproclatlon Charged In tho y•ar 5,099 115 At 31 Augu8t 2024 5,214 Carylng amount At 31 August 2024 722 At 31 August 2023 551 11 D•btor• 2024 2023 Amounts falllng du• wlthln on• year: Trade debtor6 Prepayments and accrued In¢x)m• 48,087 3,616 3,053 51.703 3.053 17-
INTERNATIONAL SCHOOL FOR PEACE STUDIES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 12 Cr•dltors: amounts falllng du• wlthln on• yoar , 2024 2023 other taxation and social security Trade creditors Accruals and deferred Inc(xne 1,159 15,101 8,160 1,325 9,315 7,975 24,420 18.615 13 RMtrlct•d funds Thè r88trlcted funds of th8 charlty ts)mpd88 the unexp8nded balanc08 of donatlons and grants hold on tnjst subct to 8pedfic condltlons by donors as to how they may be used. Incomlng r••ouru• S•pt•mb•r 2023 R•sourc•s At 31 August •xp•nd•d 2024 DCSDC - Good Relatlons DFA- Messines Home Phase RECFUND 000001582 CRC - Holocau8t Awareness DFA- Mes8lnes Home Pha86 RECFUND 0002251 2,000 (2,000) 18431 (2,416) 2,416 10,247 10.247 14,663 15259) 10?47 Pr•vlous y•ar: Incomlng R•sourc•s At 31 August r•sourc•s exp•nd•d 2023 S•pl•mb•r 2022 DCSDC - Good Relatlons DFA- Pilot Programme RECFUND 00c92 DFA- Messines Hom& Phase RECFUND 000(M)1582 (3,943) (1,544) 6,799 (5,956) 10.742 (11.443) 18-
INTERNATIONAL SCHOOL FOR PEACE STUDIES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 A UGUST 2024 14 Anaty$l# of n•t ass•ts funds Unr•strlcted R••trl¢t•d funds funds g•noral 2024 Total Unrestrlcted R•$trlct fund8 funds general 2023 Total 2024 2024 2023 2023 Fund balanc68 at 31 August 2024 are represented by: Tangible a$set8 Current asse(liabilItie8) 722 265,150 722 275.397 551 254.157 551 254.157 10,247 265,872 10,247 276,119 254.708 254,708 15 Flnanclal commllments. gu•rant••• and contlngont Ilabllltl•8 Certain grants recerved and receivable may become repayable to the fijnder if the charity is no longer able to meet th8 corKlltlons und6r which they were awarded. Due to the nature of these contingencle8, It may not be posslble to qU8ntfy thè potenti81 financial effect or give an Indication of the timing as to the liabllitie8 that may an6e. 16 R•lated wrty tran8a¢tlon• There re no dlsclosable related paty transactlons durfng tha year (2023 - none). 19-