EXODUS TRUST (A COhlPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS YEIAR NDED 31 AUGUST 2022 Registered with Ilic Charity Con)Jnission lorNoithem Ireland.. NIC 102463 Conipany regisiralion number.. N1065788
EXODUS TKUST l&1 COIJPANY LIhllTED BY GUARAKIEE) YTr:AII F-NIJTr'I) 31 AUGUST 2022 CONTENTS Page Charity Tr)formation Tnislees, Report 3-10 Iiidepeiideiit Aiiditors, Report Stalemei)t of Fiiiaiicial Activilies (ii)cludiiig incoine ¢lnd expeiiditui'e accoiint) 17 B<11ance Sl)eel 18 Sialeiiiei)l of Casli Floivs 19 Noies to tlie Fiiiaiici1< I Sic1teinei)ts 20-36
EXODUS TRUST {Il COIIPANI. I,INlttED IIY 6UARANfEL) YEAR ENDED 31 AUGUSI. 2022 CHARITY INFORMATION Reglstei'ed iyitli Tlie Charity Coinnilssioii for Nortlierll Irejand NIC 102463 Company Registralion Number NI 065788 Trustees Mr A R Lynas Mr P R Lynas Mrs G A Wiiherow Mrs L R Lynas Mr S J Richtiiond Mrs K Welsh Dr C Agneiv Mrs G Maxiyell Chlel Execullve offleer Mr J Broivn UK & Ii'elalld Dlrector Mr J Cumniings Seci'etary Mr S Broivii Reglstered olee 29 Railivay Sireet Li5burn BT28 IXP Auditors Jackson Ai)dreivs Chc1rlered Accouiilants & Registered Auditoi. 6 Miindeville Mews Porliidoivn BT62 3NS Accountaiits Aiken & Co LLP Building 2 The Sidings Anlriiii Road Li5biJrn BT28 3AJ Sollcltor McFar111 nd Griqhli m Mccornbe 41-43 Bachelors Walk Lisburn BT28 IXN Maiii Bankei Bank of Irelaiid 2 The DianioIid Coleraine, BT52 1 DE
EIODUS TRU.ST Ill CO.IIP&lNI' l.IhllTED DI GUARAKfEE) I'EAR ENDED 31 AUGUSI 2022 TRUSTEI Ei S, REPORT (INCLUDING DIRECTORS, PORT) The TnJsl¢es presenl their report and audited financial statenienls for the year ended 31 August 2022. The fiiii< ncial slaleniejils Iiave been prepared in accordance ivith ihe accoiinling policies set oiil iji Il)e iiotes lo the fin¢1nci%il slalenienls and comply ivilli the cliarity's MeIiioTaiiduJn and Article5 of Association, Ilie Charities Acl (Noriliern Ireland) 2(K)8, Charilie.s Act (Norihern Jreland) 2013. Tl)e Clidrilies (Accounls and Reports) Regulalioiis (Northern Ireli¢ lid) 2015, Con)PL11)ies Act 2006 and Accoiinliiig aiid Reporting by Charilies: SiateEiieiit of Recoiiiiiiended Prnclice applicable to cl)(Irilies pi'epai'ing tlieir accounts iii accord4111ce ivith Ilie Fiiiancial Repoi'lino Slrfiiid41rd applicable iii Ihe UK Iiiid Repiiblic of Ii'eland SORP 2019 (FRS 102). STRUCTURE, GOVEI RNANCE AND MANAGIMEI NT Exodus TrLisI is registered chi1rily iviih the Chariiy Cornmissioi) for Noi'iliern Irelaiid and d Colllpally lii)iiled by g1142raniee. registered in Northern Irel41nd. The coii)pAny ivas iiieorpornied 0116th August 21x17. Th¥ company iv1 esl<iblished linder a meiiior4iiiduiii of Association ivhich eslablished the objects E1T)d poivers of Ilie ¢oii)pany and is governed by ils Arlicles of Associ¢1tion. The liability of ils niembei's is imiied in Ihlll every Iiieiiiber of the coiiipaiiy undertakes lo coniribiiie <lll 1111i0uni not exceeding £ l in tlie eveiit of the conip1¢ ny being ivoiind lip. Refereiice aiiil a(IministraliYe (letails The registered Iianie of Ilie charily is Exodus Trusl. charily regislrillion niliiiber: NIC 102463 aiid COl))P¥1ny regisiralion nuiiibei.. NI 065788. Registered olet Clilef Executlve Offlcer 29 Rciilivay Slreel, Lisburii, BT28 1 XP. Mr J Brown UK & Ii'elaiid Dlrector Mr J Ciiinniings Jackson Andreivs, Chartered Accounl4inls & Sl4?lulory Auditor 6 Maiideville Meivs, PoTladoiYJi. Co. Arniilgh, B T62 3NS Bank of Ireland, 2 The Diamond, Coler<iine, BT52 1 DE McFarlaiid Grahaiii Mccoiiibe. 41-43 Bachelors Walk. Li5burn, BT28 IXN Audiloi. BAiikers Sollcltoi's Trustees The TrLisl¢¢s, Ivho arc iilso Ihe direclors for ihe piirpose of coiiipany laiv, and ivho served diirlng ihe ye&ir ivere.. Mrs C Aiken Mi. D Keys Mr A R Lynas Mr P R LyI)as Mrs G A Willierow Mrs L Bell Mrs L R Lyiias Mr S J Richniond Mrs K Welsli (resigned 6 December 2022) (resigned 17 February 2022) (resigiied 13 October 2022) (appointed 17 February 2022) Dr C Agiieiv and Mrs G Maxivell ivere appointed Iriistees on 6 DeCen)r 2022.
EXOI)US TRUST IA CO,IIP&lNY l.IhifTEDBY GUARANrv.L) YEAR Tr:NDED 31 AUGUST 2022 TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) STRUCTURI, GOVIRNANCE AND MANAGCMEtNT (CONTINUfD) Trustees (ctsiiliiiiied) Neiv Triislees are appoiiiled ivhen iippropriate. Suilable candidales are considered on ilie basis of their skills, exi)erience and syiiipaihy iviih Ihe ilillis of Ilie charily to ensure Ih&l1 they al-e coiiipetent to fulfjl Iheir role. Neiv Th'LlStees ivill be agreed al a board nieeling before being invited to join. Ti'&1ining ai)d suppoi'l for Trustees is provided as required. Ilow tlie charlty iiiakes (leei51ons The Trustees and execulivc iiiailageiiieiil nieei 3 10 4 liiiies a year to sel strategy. disciiss significi111t niatlers 42nd reviciv inanageTiienl accouiils for Ilie charily. Dui'ing these iiieeliiiBS jIllPOrtaiil decisio)Is are m¢lde by coi)sensus of the board. D4iy lo day decision 111<1king responsibililies rfire delegated lo the ch¢1rily'.s .senior iiianageiiienl leai)i and ils deparlnieiilal leaders. Reniuiiei'allon of key niaiiagenient The Trusiees sel the Pliy for k.ey iiiaiiageiiienl al a level Ihey believe reflects ilie Iialiire of the i'ole aild Ilie level of responsibility involved. This is revieived aiiiiually in lighi of current perforiiiaiice, cost of liviiig and budgetary coiisidei-alions. RelAtlonslJlps ivitli related partles The charity requii'es Triisiees to con)plele disclosure of interesl fornis on appoinlii)eIil and lo iipdale these ¢1S required in order io idenlify potential relaled parlics Ihlll n7ay require disclosure iii Ilie fiiiaiicilll sl¢11ements. Tliis disclosure llnd il descripiioii of Iliose re111 ted Pllrties Clln be found al Iiole 25 to Ihe financiAI stalenienls. Ad(lilional i'elAted partles Aiken & Co I.l.P are eiig<iged oiir accountaiils aiid a parlner in ihis rim) is i))arried to Claire Aiken, one of the ch4qrity's Ti'tsslees. OBJECTIVES AND ACtIVlTILS Tlie princip471 aclivlty of Ihe ¢h¢lrily is lo advaiice the Chrisliaii religion and proIiiole the benefit of youiig people prim(Irily but iiol exclusively in Ireland. We i?r¢ a cliarity 11)at ediicclles and assisls such young people, ieSpective of tlieir religious beliefs, Ihi'ough their leisure-liine activities so as lo develop iheir physical, ii)¢nlal aIkd spiriiual capacilies Ihiil they ii)ay grow to full iniilurily as individuals and inenibers of society. Iii particuli, Ive: Provide fd1cilities for recrealion or oiher leisure tiine occupation ii) the interest of social welfare for young people in Irell& nd iviih the object of iiiJprovii)g the coiidilions of life for sucli person5; Provide 1< 11 <ilcohol aiid drug free ¢ro8s comniunily environiiieIil for Ilie spiritlliil, Sociiql and pI)ySlC<111'ecreiilion aiid Iraining of young people iviih Ihe object of iiiiproving the condilions of life of siich yoiing people; Piovide progfiommes of n)entoriJ)g and small groups whereby young people can learn from and be supported by older people and so help achieve their full educational and persoilal polenlial. We also provide developnienl aid and support lo local coniiiiuiiilies. priniarily biii not excliisively in developing coiinlries, for tlie furtherance of the relief of poverty, the advaiicenienl of edtication aiid oiher purposes beneficial lo these I11 cojimnunities.
EXODU.S Tllus'r (A CO)IPANY LlhllTED IJI. GUA]IANfEE) IEAR ENDTr,D JJ AUGUST 2022 TRUSTEfi S, REPORT (INCLUDING DIRECTORS) REPORT) (CONTINUED) OIIJECTIVES AND ACTIVITIKS (CONTINUED) Exodus ivas esl<iblislied in Portsteivart, Northern Ireland in 1997 #nd our vision is to see generaliojis of youiig people boldly folloivlng Jesus aiid becomiiig lifelong disciple 1114ikers. We currently ivork" 1¢ loJ)gside youn8 people. disciple niakers. chiiithes and conimui)ilies in li'eland, Huiigary iiiid RoiiiaiJi<?. We see our role as r¢iisiJig up yoiing people who ivill live oiil a bold ai)d aciive Cl)iislian fnilh ivhere they live and throiigh 25 years ol disciplc Ii)aking, Ive have joiirneyed i%'illi over 15,000 youiig people and leaders. We offer four primary opporliinilies fiill of depth. fun aiid dventU. I. TEAMS - Unforgeiiable sii11&11 group Iidi'eiilures coii)bii)ing discovery, friendsl)ip and ini.ssion. 2. EVENTS & RESIDENTIALS - Full, ii)lenlional aiid cre4ilive opi)orluiiilie8 ivhicli build coimmiinily and cre4ile discipliiig iiion)eiils. 3. MENTORING - Deep discipliiig relaltonships beiiveen youiig people and older Christians. 4. TRAINING AND RESOURCES Cre11 live 11111 lert<l1.s and ivoiK"8hop.$ 10 equip le¢1d¢rs, pareiits and youiig people lo iiiake disciples. GrAiit iiiaking pollcy Tlie cliariiy 11147y provide some finaiici411 assislaiice to or8anisalioiis Iliii l il believes ivill advance its oiperall objectives. Prin)arily Ihis is directed lo our sister org4inisalioi) 'Exodus CEE" operalii)g in Hiingary and Roiiiani2¢ . Use of volui)teers The chai'ity conlii)ues lo rely on ihe iyork of voliinleers ivho assisi in office odihinislrsilive roles, help al v(Irioiis eveiils Ihroiighoiil Ilie year <2nd lei2d Ihe le<1ms ivl)ich nieel Ilirouglioul Ihe year and ITiivel dui'ing the siiiiiiiier. We esliii)ale a conlribiilioii oral lerfisl 45.51K) volunieer llours in 2021122 eqiiivalent 10 £568,750 ai ail iiveri1ge hourly Tille of £12.50. Fiill Tliiie.8elf Fuiided Voluiiteers - e.g. Mi5.sionarAes & Interns - 18.IM)O hours ReEiIIAr & Sesslonttl Yoiith Ivoi'k Volunteers - e.g. Team leaders & iiienlors - 25,000 hours Regulai. pxi* tlfftiie supi)oi't voluiiteers- e,g. Flnancial & Adinin Siipporl - 2,5(X) hoiiys PUBLIC BEI NfFrr STATCMINT The Board of Exodiis Trust confirni Ihal they have had due regiird for the guidance produced on piiblic benefit by the Charity Cominission for Northern Ireland and c1re pleased io Teport Ihi( I during Ilie ye1( r the chLlrilable conipany h1¥ s coiilinued io provlde public benefjls lIoUgh Ihe prograiiiine8 aiicl services we offei.. II) P41rticiil¢ir, Ilie directors ¢oiisider how plani)ed aclivilies ivill conli'ibule to the 1¢ inis aiid objectives they have sel out. Public benefsts The iruslees believe that boih our purposes .salisfy boih elenieiits of ihe piiblic benefit requireiiient. Piiryose l.. The direct benefils ivhicli floiv from this puq)ose include: The opportiinily lo consider, celebrale and express ilie Chrislicin faith. The 1& doptioii of il morqil franieivork folloiving the leacliiiigs of Jesus. This includes proiiioliiig peace, iiieeting the i)eeds of others, lolerance cind respeci for diversily recognising all 4iS being created by God i1nd therefore all are equal. The provision of Cljrislian religious educc?lion. Provision of Iraii)iiig nd sK"ills developiiienl linked lo Exodus proorammes thai iyill have aid oIigoing coiiIEKlence in areas such as public speaking. groiip facilitation. good Pnciice in youth work, leadership, eveiit nianagenient aiid teaiiiivork".
EXODUSTRUST IA CO,IIPANI' r.IhItrED BY GUARANtEE) YEAR ENDED 31 AUGUST 2D22 TRUSTEES, REI PORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) OBJECTIVES AND ACTIVITJLS (CONTINUED) Public benefits (continued) - The provision of youth cenlres and activities opeii to all whicli encourage social contacl aiid inleractioii Iviih il positive ethos. The i)rovisÉoii of volunleeriiig opporlunities iviihiii cenlres and I(al coi)Iniunilies. These benefils are denionslraled Ilirough stories recorded froni participanls aiid rtner organisalions, feedback fi'oiii voliinteers, quartei'ly iipdales and Ilic aiiiiual report. Iii providing Ihes¢ bei)efits, Exodus seeks to share the core tenets of the Chrislian faith, however, il ivill iiol condone aIiy acliyilies ivhich put uiidue pressiire on Individuals lo laK"e on Ihese beliefs. The beiieficiaries of this piirpose are young people liviiig in Ireland Aged 15-25, There ivill also be a diTeci beiiefil lo youth leaders Irained in roles, ,111 iIidir¢cl benefit lo the f4iniilic.s of youiig people and a ivider benefil lo the local coiiiiiiiiiiilies. A i)I'ivale beiiefil lo staff ivill &1rise as Iliey are patd <iiid lllso Irained lo carl'y out Ilie role bul Ihis is neces8¢1ry c lid iiicidei)l&il aT)d Pciyiiienl Is iii liiie ivilli appropri¢il¢ levels of reiiiuiieralion. Aiiollier priv¢11e beiiefil floiyiiig frojii this purpose is Il)at gaiiied by 11 Tnislee ivho also lias a leenage child ivho lake8 pai'l iii aclivilies. This Ii'iislee applies for and is assigiied places iii Ihe saiiie ivay 41S lill oiher beiieficiuries. This b¢i?¢fil is incidciilal and iiecessai'y lo ejisure Ilie bcJ)efil is tx'ovided lo oiir beneficiai'ies. Piiryose 2.. The direct beiiefils ivliich floiv froni Ihis purpose iiiclude: The provision of practical repairs. niaiiilei)ance and food dislribiilion lo care for those iii iieed. The provision of Christian religious educalioIi. These benefils are dei))oiislraled Ihrougli siories recorded froiii participaiils aiid Pl& rliier orgrfinisaiions, feedback froin voliinleers, qiiarlerly updates and Ilie ai)niial report. In providiiig these beiiefils Exodus seek.s lo shal'e Ihe core leiiels of the Chrisliaii f4iilh, however il ivill iiol condoiie aiiy activities ivhich pill iindiie pi'essure OI) individuals 10 lake on Ihese beliefs. The beiieficiaries of this purpose are iiidividuals aiid coIiiiiiunilies priiijarily bul iiol excliisively in developii)g couiilrie5. ACHIEVEMENTS AND PERFORMANCE Marcli 2022 Tepresenled 25 years since ihe Exodiis ivas foui)ded and ive h4ive been able 10 enjoy a speci<il year lo inark the occasion! Beliveen I September 2021 aiid 31 Aiigusl 2022, Exodus slaff and voliinleers in Ilie UK & Irelaild delivered 489 unique Iiiinislry opporliinilies and experiences to an aniaziilg 12619 pJi'licip&i)Is, These ivere delivered across oiir 6 localion5 Coleraine, Lisburn, Derry, Belfast, Currick, Baiibridge aiid represeiil significaiit celebraiioii. Teanis 49 Teaii)S <111d 420 P£qTlicipants Teaiiis represenl our core youih niinislry aclivity represen111 an iiivestii)ent of at lea51250 houiE ITI each P*irli¢ipi1111. This year saw teams return lo interiiational voluiileering (alongside Jiiuliiple groups serviiig in Irelaiid) and partlclpiltion nuiiibers increase by 12% (althougli still Short of ihe pre-covid level of aroiind 420).
Tr.XOI)US TRUST (A Coll IPANI. LINirrED BY GUAKANrF:fr') I'fr.AK Tr.NDED JI AUGUST 2022 TRUSTEES, REPORT (INCLUDENG DIRECTORS, REI PORT) {CONTINUED) ACHIEVE11 NTS AND PE4 RFORMANCE (CONTINUED) I vents & Resldenllals 426 events <2nd 11917 participants Events t1¢ke either an oulreacli focus enabling young people io coiinecl iviili peers cind Ihe oi'gi2nis¢ltion foi. the first liine or a discipleship focus ivhere the priorily is investing in young people Ivho are keen to develop thetr fJilh. Tl)is year has seen 11 .signific?( nt groivih in our school's ivork ivliich represenls 30% of these participants aiid incliides a ivide riinge of aclivilies includiiig Asseinblies. Clwislilin Unioiis. Alpha courses Klnd our neiy SOAR leadership coiirse. Mentoi'ing Meiitoring for Iipprox 60 young people Mentoring rcniilil)s a prioi'ily for our approach lo youili iiiiiiislry, hoivever reslarliiig activilies post- Pli ndeniic has required greater efforl in our leaii)s ai)d iiienloring and seeii this restart IllOTe sloivly. Ti'aliilng & Resoureing 350 youth leaders trained aiid 2501)arliier i1Ctivilies Over 50% of oiir <iclivities ivere Ci1rried out in Pi1rlnei'.ship iviih one or ii)ore chiirclies or organis¢11ion8. This i'epresenls <7 sigiiific1L Iii liighlighi in our aiin lo Iraii). equip and r¢leilse oihers as Iliey work ivilh yoiiiig people. Olliei. Higliliglits & Aclileveiiieiils Neiv Ai'eas - Exodus Ilelfcisl found a honie in Si Andreiv's presberian chui'ch and Exodus Ci( rrick ii)oved lo creiiliiig consisleiil oppoi'luiiities Iliroiighoiii Ihe year. SOAR coui'se - Developiiienl aiid roll oiil of a neiv 6 session self-leadersliip progranlme for school pupils. Wrfftlleii in liiie iviih Ihe LLW curriculiiiii aiid Llsbui'ii Ceiitre Refurb - After l O years.lhe ceiilre ivas renovaied to create 1¢ lighier, brigliier space Ivilli a iiiore ii)ulii-fiiiiclional approcich lo reflect Ihe ivider raiige of opportuiiiiies ive noiv deliver. ioun(liiig of Exodus Latvla - Our sister organisalioii Exodus CEE ivork'ed iviili parlners in Li?Ivia lo establish the niinislry Iliere beginniI)g iviih leiims iiicliiding over 90 p47fiicipaiiis! Drive 25 - To celebrate oiir 25 years, Jiiii Broivn (CEO & founder) drove to RoJi)ania and I'L ised £15.(M)O lo support £1nd inspire a grealer focus on outreach. FINANCIAL REVIEI IV Tl)e deliiiled fiiiancial resulis for Ihe year ended 31 August 2022 are shoivii oli page 17 of the finaiicial staleiiicnls. The i)el incoii)e for Ihe year Lliiioiinled lo £76.472 {2021- nel expenditure of £15,292). Ai 31 Augiisl 2022. the fiii)ds of the cliL1ri1y aniounled to £589,400 (2021: £512.928) coinprising iiiiieslricled i ncoine fuilds of £559.102 (2021: £476,479) unr¢slri¢led designated fiinds of £Nil (202 I: £Nil) and reslyicted funds of £30.298 (2021: £36.449). Ai 31 August 2022. fIxed assets included iviiliiIi iini'eslricled fuiids are £248.549 (2021.. £245,830) ind iviihin restricted fiJnd5 al'e £16,215 (2021." £12,008). AI 31 Aiigiisl 2022. free reserves being total funds afiet dediicling reslricled fund5, desigiialed ruiids ai)d fixed <issels are £310.553 (2021: £230,649). Principal Soiirces of liicoiiie Olir pi'liicipal SOrceS of inconie came from: Geiiei'ated - 20Yo - Coi)Iribiilion5 froii) participanls toivard I1[r ini'olyemeiil in opportunities Coiiii)iitted 28V Pledges & standing orders from churches. trusts & individuals Oi)e Off - 400/0 Linke<l io project grai?Is & don1¢ lions froim individu2d Is & chui'ches - iiicluded a on¢- off appeal for Ukrainian partnS working ivith fii(rees. (Also includes Gift Ald). Team fiiiiidrAlsliig . 12Q70
.XODiiS TRUST IA CO,%IPANI' I.INIIA'fr.D IIY GUARiiNfEEI I':AM Tr:h'DLD 31 AVGUST2022 TRUSTEI ES, REPORT (INCLUDING DIRE CTORS, REI PORT) (CONTINUED) rtlNANCIAL REVIEIV (CONTINUED) I xpenditure Olir priiiiiiry areas of expenditure are linked io: Salaries 40% Priniarily front line youih WOTk" investing in voliinieer leaders & young people (including suppon for Exodus CEE (sisler organisalion) Teani Costs - 2110 Flights. accoiiu)iodalioii & i)iat¢rials - Youth Minlslyy Costs- 10 % Ruiiiiliig Costs - 9Q/ Oiie Off - 20% - Ukraine Appe2& l & Centre renoviilion Resei'yes po]icy and goiiig eoneern The charily's reserves sliould provide tlie org.IlliSlllion iviih adequate financial stability and Ihe J)ielrf ns for it lo Ineel its ¢h¢iril&1ble objectives for Ihe foreseeable future. The Trustees iiileild lo maiiilain the ch4irily'S reserves at level ivhich is al lecisl equiv<ilenl to three i))onihs operaiioiial expeiidilure and have done so h<iving regards lo ils manner of operntion of likely fiinding Slrei?IllS. Tl)e board iyill revieiv the re8erves lo ensure Ihat ilRy are adequaie to fulfil the charity's ¢oniiJiuiiig obligations on ai) aiinual basis. Of the lolal funds reported above, £309.288 (2021: £243.972) is Jnade lip ofcii sh nl bil nk. The Tnislees are coi)fidei)I that the Clish reserves, logeilier iviili expected fulure ineoiiie, Ivill be sufficieiil to iiieet the woi'king capi11( I requii'einenls for ihe forihcoliiiiig year. The Truslee have also considered the exlenl io vhicli existing activities coiild be curtailed, sliould Ilie need arise. Tlie level of reserves incre%ed due lo a Iiiiinber of signifjcllnl eveiils: A Covid Recovery Programnie Grant - received againsl losses. Ali unexpected and iinreslricled legiicy gifi A nuiijber of gr47nls or conlribuiions CeiVed in advaiice of developnienl ivork in the ii)comiiig year for projecls iiicludiiig Neiv siiiall group niiilerials Upd4lte of Mentoring App tA)Ccil Outreach projects We expecl to speiid inuch of this allocation in 22123 ivhich ivill create deficit for the year and see the casli reserves in line iviih wl)ai Ihe trustees 11re expecting. Factors AfTectlJig Fulure Flnaiiclal Performance t£vel of inflation liiiked lo cost of iilililies and cost of international Iravel l£vel of P1( rlicipation in oiir leanis prograjiiine Success of 41 siiiall niiinber of specific Granl applications Consistency of larger ongoing doiiors Rlsk MaiiRgement The Trlislees h7ve &ssessed Ihe 11i&1jof ii5k-s lo ii.llicli Ihecharity is exposed, aJ)d are salisfjed Il)at sysleIi)s are iii place lo niiligale exposure lo the iiiajor risk-s. The Trustees iiiainlaiii a NvritteI) risk regislei ii) order lo docuIiieiil aiid revieiv identified risks. The piincipiil risks conliniie to be- Operational strain caused by changeover of personnel The need for a iiiore coii)preheiisive approach to fire .8afely Jnanlc genienl- and The challenges of ivorkiijg froin aiid maintaiiiing a large listed building in Lisburn.
EXODUS TRUSf IA CO,%IPANI' LIhllTEDBY C.VA]blNTTr.Tr:) YEAR ENDED 31 AUGUST 2022 TRUSTEES, REPORT (INCLUDING DIRECTORS, REI PORT) (CONTINUED) rilNANCJAL REIVIEW (CONTINUED) Plans foi" tlie futui'e Ii) Marcli 2022 Exodus released a neiv 3 year plan lo coiiuilence in Septeiiiber 2022. In i'espoiise 10 a shift of young people aivay fron) Ihe Clirislian laith aiid ehurcli life ive h2( ve set our 3 pi'iorities REACH, DISCIPLE, PARTNER. As such we recogiiise the need io accelerate the developiiienl of oppoituiiilie5 and slep inlo neiv areas lo support great youth inii)iSlry. Our tivelve developniei)I goals dre l. To eiiiploy a neiv, fully fund¢d worK"er for Exodus NE focused oji Te1¢ ching neiv young people. 2. To pilot a te4?In oppoi'lunily liiiked 10 le.Idcrsl)ip dei'elopiiieni ihai appeals Io 12nd eiigciges tliose Ivlio aren'l Chrisli<gns. 3. To catl£ lyse a range of iieiv dl)d crealive oulreach iiiilialives pioneeied by our b¢1ses. 4. To deliver I'eshaped ai)(I re-branded inlern prograiiime iviih an inteJilion11 I fociis on disciple 11)¢ik"iiig leadership developiiienl. S. To ci'ecile a lull Sel of leaiii coiirses - re-wrillen, disiially delivered. 6, To build a slralegic Iipproiich to developiiig innovative and advenliiroiis placeiiieiils for leaiiis. 7. To build and1i1lll)cli a neiv iiiodel for Churcli coi)Iiiiissioned Lxodus ivorkers ivho reach local youiig p¢oplL ivill) Ihe gospel r42ise lip lifeloi)g disciples of Jesus. 8. To11d iinch a niiiiislry 10 Iielp fathers disciple Ilieir children 9. To appoiiil a ivorker iyho will unlock Jylore of Ihe poiential of Ik ivilh Me Ihi'ough refining tlie process aT)d largeled iiivilnlion, Iraiiiijig aiid sijpport. 10. To sei up a honie for the iiiii)islry in Cclrri¢k and Neivloivnnbbey. I l. To build neiy database aiKI onliiie pliiilonn io sii)Iplify & slreaiiiline aclivilie.s for pai'ticipanls & staff 12. To forni a voliinleer suppori groiip for eiicll Exodus Aa ivorkii)g lo help Ilie ivork flourish locally. The.5e projects will e42ch be sel al a pace that is recilisii¢ for Ilie slaff leam and achievablc wtihin existing biidgels or iieivly soiirced income. As ive hli ve grown froni I centre lo 6, Ive noiv iecognise the need for (1 Iieiv, iiiore siislainable iiiodel for fiitiire ivork. Tliis Jnodel Ivill seek slronger P&1rliierships wiih local churches Éind iiidividuiils lo secure Ihe ois'iiersliip and invesiinent for long lei'ni consisleiil youth iyork in s?n area. With all this in mind ive look out expectant of the nexl 25 years and n)any Inore lives Iransfornied. STATCMII NT OF DIREcfoRS' RPoNSIBILITIEs Tlie twstee.s (who are also Ihe direclors of Exodus Trusl) are responsible for prepariiig the Truslee5' Report ai)d Ihe fiiiancial slilleineJ)Is in accoid<1nce iviih applicable laiv aiid Uiiiled Kingdom Accounliiig Siaiidards (United Kingdoni Generally Accepted Accounling Pnciice). CoiiipKlny laiv requires the direclors lo prepare fiiiaiicicil stalenienis for ei1ch financial year. Ivhich give a true 12nd fi?ir Yieiv of the sl<ile of i1ffairs of the cliarilable conipaiiy aild of the inconie aiid expenditure of ihe charitable coIiipany for that period. In prepariiig these financial stateinei)Is Ihe directors are reqiiired to: • select suitable 41ccounling policie5 and ihen apply thetn consislenily; observe the methods aiid principles in the Cliarlties SORP 2019 (FRS 102). i)iake jiidgeimenls and esltmales that are reasonable and prudent-
EXODUS TRUST IA COIIP,%NI' I.INJII'EI) TII. GUARANTEEI YEAR ENDED 31 AUC.UST 2022 TRUSTEES, REPORT (INCLUDING DIR1 CTORS, REPORT) (CONTINUED) STA TEI MENT OF DI¥ CTORSI RESPONSIBILITILS (CONTINUED) slate ivheil)er applicable UK Ac¢ouDling Slandi1rds have beeli folloived. subject lo any inaterial dep<lrlures disclosed aiid explained iii ilie fii)anci¢11 statemenls: prepare the fin42llcicil sl<21emei)Is on the going concern basi5 ujiless it is inappropriate lo presunie tlial the charitable comp<iny will contiiiue in operalion. The Trustces are responsible for keepiiig adequale accountiiig records that disclose with reasonable 1cciiracy al <iny liine ihe finailcial position of the cliartloble conipany aiid enable thein ¢0 eiisure Ihi( t the rin1& llciiil s11< lenieiils coiiiply iviih the Compaiiies Acl 2006. Tlie directors are also responsible foi. .S?I fLg111É rdiiig Ilie assets of the ch4irilc1ble cojnpaiiy aiid hence to lake reasoIiable sleps foi- the prevention lid deleciioii of fraud aiid other irreguliirities. Disclosiii'e of Infoi'n)atloii to auditors Ive. Ihe direcioi's of11)e coi)Ipai)y ivlio l)eld office al the dale of approval of these fin<incicil Sialejiieiils .7$ scl oiil above each eoiifiriii, so f4?r 11 s ive i& re aivare, Ih¥ll: there is iio relevanl iiudil inforni&1tion of ivhich Ihe charitable COmP41ny's audiiors iinaware; ve hiive lakeii all Ilie sleps Ihal iY¢ ought to liave taken us directors in order lo make OUT5elves .iivare of aiiy r¢l¢vaDt aiidil iiiforinalion and lo eslablisli Ilial Ihe chciriiable coiiipany, s Iiiidilors are aiyare of Ihal infornialion. Tlie Iruslees are responsible for the n)aiiilei)ance and inlegrily of the corporale aTid fJJianciiil inforlnalioii incliided oli ihe cliii rilable Coiiipilny's ivebslte. Legisli4 lion in Ihe Uniled Kingdom goveriung Ihe preparaiioii and disseininalion of flnancial slaleiiienis may differ froIi) legislalioii iii otlier jiirisdiclioiis. SniRII coiiipaiiles exeIp110n Tliis report has been prepared in accordance wilh the special provisions iel*ting lo sninll conipaiiies Iviihin Pi?rl 15 of the Companies Act 2006. Aiidltors J?1 cksoii Aiidreivs liave indicaicd their iyillii)giiess lo conlinue iii olee and qi resolulioii coiicerning Iheir re-appoinirnent ivill be proposed al ilie Aniiuiil General Meeliiig. By order of the Board Mrs L R Lynas Trustee Dale: io
.XODUS'rRusr IA CO%fPANS' LlhllTED BY GUARANIEE) I'LAR Tr.NW)Tr.D JI AUGUST 2022 IND1 PEI NDfi NT AUDITORS, Rfi PORT TO MIMBERS ofi XODUS TRUST (A COMPANY LIMITED BY GUARANTEIE) Oi)inioii We h2¢ ve ¢?udiled the fini?llciiil sl%Trleiiienls of Exodus Trust (the 'charilable compaiiy.) for the yeai. ended 3]M August 2022 ivhich coiiiprAse the Stateiiienl of Financial Aclivilies (incliiding inconie ¢lnd expenditure accoiint). the Balaiice Sheet. Ihe Sialetiienl of Cash Floivs and notes lo Ihe fin(In¢ial sti2lemeiils, including a siimm1& ry of significcinl &1CCOITnling policies. The finciiicial reportiiig fr¢11neivork th¢21 h( been applied in Iheir prep4iralion is <2ppIic4ible111IV iind United Kingdom Accouiiiii)g Sl1¢ 1)dili'ds, iiicliiding Fii).Inci<il Reporting Siaiidard 102 Tlie fiiiaiicial Reporliiig Siaiidai'd applicable iii ilie UK aiid Reyiiblic of li'elaiid (Ui)ited Kingdo1 Gener.Illy Accepted Accounliiig Practice). In our opinion Ihc financial sliilcm¢nls: give <7 Iriie and fiiir vieiv of ihe slale of the cliJril¢lble coi)Ipany's affairs a$ 111 31 Aiigii812022fr cind of ils incoiliing resoiirces and qipplicalion of resources. including its income and expenditure. for the year ilien elided; hlliie beeii properly prepared in accordance ivlth Uniled Kingdoni GeIierally Aceepied AccoLinliiig Priiclicey lind h&ive been prepilred in ccordance wilh Ihe reqiiirements of Ihe Coinpiinies Act 2(X)6. Basls foi. opliiion W¥. Coiiducl¢il our i?iidil in ccordance iviih Inlernalionol Siandards on Audiling (UK)(ISAs(UK)) nnd applici1ble law. Oiir responsibililie.s under those $161nd1i rds are fi)I'ihei' described in Ihe Aiidilor's responsibilities for Ilie audit of the finttnci£il slaleiiieiils section of our reporl. We indenden1 of Ihe chiiril¢1ble comp¢lny in 47ccordc1nce with IhL elhiciil re(iiiii-emenls Ihic I cire I'eleviinl lo oiii. audit of Ilie finaiicial slaieineiils iii the UK, iiicliiding Ilie FRC'S Eil)ical Standard, ai)d ilie provisions aipailable for siiiall eiitities, iii Ihe circuinslaiices set out in iiote 24 10 Il)e flnancial slaleiiients, and we have fulfjlled our other eiliical respoiisibililies in accordaiice ivilli these requiremen15. We believe Ihai the audil evidence ive h47ve obiained is sufficienl lind i?ppropriilte lo provide a b4iSiS for our opinion, Concluslon5 l'elatlng to goiiig concern In aiiditiiig Ilie fii)anciiil slalenienls. Ive have concluded Ihat the Iruslees, use of the going COiKerJi basis of accouiitii)g in tlie prepariltioi) of the fiiiancial slatemenls is appropriate. Based oil the ivork ive have perfornied, Ive have ilol ideiilified ally n)aleriiil unc¢rlainlies relaling lo eveiils or conditions Iliil, iiidividually or collectively. niay cast significant doubi on Ihe chqirilable COIIIP4111y's ability lo coiiliiiue q< s a goiiig concein for a period of .11 leiisl livelve inonihs froili ivhen the fin?¢ llciill .slillemenls are ¢?Iiihorised for issiie. Oiir responsibililies Thd Ihe responsibililies of the Iruslees iviih respect lo going concern are described in the releviTrnl sections of this report.
EXODUS TRU.ST (A COIIVAP4Y I,1]rrED BY GUARAKfEE) ITAtt ENDED JI AUGUSI 2022 INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF EXODUS TRUST (A COMPANY LIMITED BY GUARANTEE) (CONTINUED) Othei. informatlon The Ti'iislees rfll'e respoiisible for the other inforjnalion. The otl)er inforTnil1ion coinprises aiiy ii)foriiialion other Ih%in the fJnanci411 slalenieJ)1s and our auditor's report Iheieon. Our opiiiioii on il)e ftiiaiicial sli£ leiiienls does not cover the other inforilialion and. except to the extent othei'ivise explicitly slated in our report, Ive do not express aiiy fonii of assurdnce coiiclusion Ihereon. In coniieclion ivilh our audit of the financial slatemeiits, our responsibilily is lo read ilie other inforn)(21ion c1nd. li) doing so. consider ivhether ihe other inloriiialioij is nialerially ii)coi)sisleiit ivilli the fiiiL111cial slalenienls or our k'nowledge obtained in Ihe audit oi. oiheriyise appei¢ I's lo be nialerially Inisslaled. If Ive idei)lify such nii?teriii l incoJ)sislencies or appareiil iiiaterial nusslaleiiienls, ive are required lo delerinine ivhell)er there is Illiilerial Inisslaleiiient iii Ilie fiJ)aiicial 51<ilemenls or a Iiialerial iiiisstateiiient of Ihe ollier inforiiici1ion. If, bit Sed on Ihe ivork ive have rfor1]]ed, ive conclude thi¢ I there is 11 lli¢1teri111 iiiisslalemenl of this other ijifoTlI)ation: Ive are required 10 repon Ihal facl. We have tiothing to report in this regivd. Opiiiions 011 othew iiiatters presci'lbed by Ilie Compaiiles Ac12006 Iii our opiIiioi), b£lsed on Ihe Ivork iindertaken iii the course of Ihe aiidil., the inforniiilion given in Ilie directors, report for the finailcial year foi. iyhich Ihe fjnaiicial slaieiiienls are prepared is consislenl wilh Ihe financial slaleiiienls. aiid the directors, report has beeii pr¢pq( red in accordaiice ivith 41pplicable legal requireiiieIits. Mfttters on ivhicli Ive air i'eqiilred lo repDrt by exception In the light of our knoivledge and uiiderslaiiding of Ihe charitable coinpany aiid ils environinenl obiained in the coiirse of the audit, we have not ideiilified nialerial n)isslaleiiieiits in Ihe directors, i'eporl. We l)ave noihiiig lo report in respecl of the following iiiaiiers in relalioii lo ivhich the Compllnies Act 2006 requires us lo report lo you if. in our opinion: ,1deqiiate accouiiliiig records h47ve ttol been kepi, or returns 21 dequl1 le for our audtt have nol been received fi'oin brcinches not visiied by us; OT the finc1ncial st<lteniei)Is are nol in agreeiiienl wilh the accounting records and returiis. or ccrti2in disclosures of directors, reJMuneT14 tion specified by laiv are noi mil de- or ive have not received 811 the iiifornialion aiKI explanations we require for our audil; oi. the Iruslees were not ejiiitled lo prepare the financial stateinents in accordance iviili tlie sIiiall coinpanies. i'egiine aiid lake advaiilage of the small coiiipaiiies, exempiions in preparing the directors, KepoN lind froln Ihe requireineiit lo prepare cl strategic report. 12
EXODUS TRUST IA COIIPANY LIhlITED BY GUARANTEEI YEAR ENDED 31 AUGUST 2022 INDEPENDENT AUDITORS, REPORT TO THE NqEMBERS OF EXODUS TRUST (A COMPANY LIMITEI D BY GUARANTEE) ICONTINUED) Respoiislbllltlos of Trustees As explaiiied n)ore f1511y in the Slatejiienl of Trustees, Responsibililies sel out on pages 9 aiid l O, the Trustees (Ivho l< re also the direclors of ihe charilable conipany for Ihe puipose of coiiipany law) are responsible for Ilie preparation of the finaI)cial slaleii)ei)Is and for being salisfied Ihlil they give aiid ti'iie and fc1ir vieiv. and for sueli internal control Ihe Iru.4lees detern)?i)e is iieces8ary lo encible Ilie prep¢1ralioii of fii1l¢ iicial 8iai¢mL'nts th1¢ l are free froi)i ii)alcrial Inisslaleinent, Ivhellier due to fraud or error. In pi'ep¢11'ing Ilie fJnai)cial statenienls, Ihe Inislees lire re.sponsible for assessing the charilable coinp4?Ily'S abilily to conliniie ¢18 11 going concerii. disclosing, as appliciible, In<illers related lo going coiicerii and Lising the going concern b41SiS of accoui)liiig uiiless Ilie Iru51ees iviiher inleiid 10 liquidate Ilie cliarilable coinpuiiy or to cease oper4ilions, or have no realislic aliernalive but lo do so. Auilitor's respoiislbllllles for Ihe auillt of the tliiaiielal slfileiiients Oiir objectives cire lo obti1in reasoni2ble assurance aboul ivheiher the fin4incial slaleniei)Is as a ivhole are free froiii Tll<iiericil iiiissl411eiiiei)t. Ivlietl)er diie lo frlud or etTof, 1¢ nd lo issue ali auditor's i'cporl Ihlll incliides our opinioi). Reasonable assurilnce is a l)igh lel'el of assiirance, bill is iiol a giiaranlLc that ali audit coiidiicied iii accord11 nce ivilh ISAS (UK) will alivays delecl a in471erii¢ l iiiisslaleJi)eJil ivlieii it exists. Misslatemenls can lse froi)I fraud or error aiid are considered nialerial if. individually oi- in Ihe ggi'egale. Iliey coiild Keiisonably be expected 10 influence the econoniic decisioIis of users taken on the bl& sis of these fin4incial slaleiiieiils. Irregiilarilies, iiicludiiig fraiid, are iiislances of non-coJ)Ipliaiice will) l4iiVS and regiilalions. We design pi'ocediii'es ii) liiie iviih our i'espoi).sibililies, oiillined iibove. to delecl iillllerial i?iisslalenienl.s in respect of in'egiil(IriliLs. Ancludiilg fraiid. The specifi¢ prixeduies for Iliis engageiiieiil aiid the extenl lo which tliese are ClipAble of delLLling irrcgularilies, including fraud is deiftiled beloiv.. I xlenl to Ivlilcli tlie Rudit li'a5 eonsldei'ed capfil)l¢ of dctectlng Iri'egularities, includli)R fi'aud We idenlify &ind 1ssess the risks of i1171ericil n)issliileiiienl of Ilie fiiiaiicial slalenienls, Ivhether due lo fralid or error, aiid then design 47nd perforiii tlie audii procedures responsive to Ihose risks. including oblciiiiiiig audil cvidence thal is sufficienl and approprillie to provide 47 basis foi oui opiiiioii. lllentifying And Assesslng poteiitlal rlsks related to irregularltles Iii identifying cind assc.85ii)8 risks of Iiiaicrial InisslaleTnenl in respect of irregularlties, includii)g fraud aiid IioIi-coinpliance ivilh laiv.s and regulations. Ive considered Ihe folloiving: Aiidlt i'espoiise to rlsks identified: Ilie n611ure of Ihe induslry .Ind sector, control environn)enl and charily's finaiicial results aiid position. currei)I COVID-19 environinenl resiilis of oiir eiiquiries of inaiiageinenl abolit their oivn idenlificatioii and assessiment of the risks of irregul&lrilies: ,qny IiTratters ive identified having obtained revieived the Charity's documenlalion of their policies and procediire.S Tel411ing lo- idenlifyiiig, evalualing and coiiiplying iviih Iclivs aiid tegulatioiis and ivheiher Ihey wei'e aivcire of i?ny instances of noii-coiiipliaiice. deieciing and responding lo Ihe risks of fraud ai)d wlieiher they have knoivledge Of any 1clual, suspected or alleged fraiid. and 13
F,YODU,S TRUST (A COIIP*lNI' 1,1241tTED BI. GUARANTEEI Yli.AR Tr.NDTr,D 31 AUGUST 2022 INDEPEINDENT AUDITORS, REPORT TO THE MEMBERS OF EXODUS TRUST (A COMPANY LIMITED BY GUARANTEE) (CONTJNUED} Auditor's responsibilltles for the &udll of the financial staten?eiils (coiili1114ed) Audit response to rlsks fdcntificd (coiiliiiiied): the internal controls eslabli5hed to ii)iligale risks of fraud or i)on-complIaie iviili laivs and regulaiions-, Ilie iiiallers discussed among ihe audit engageinent teaiii regiirding hoiv and ivliere fraud might occur in tlie fiiianci4?l .sl<iiemenls i1nd poieiiiiiil indicators of fnud. As a i'esLIII of these procediires. Ive considered tl)al Ihe particul4if iire¢l8 in the fii)aiicial slalei)iei)Is Il)at Ivere ,8uscepiible io niissiateineni ivere related to 1111¢ nagemenl bias iij accouiiiiiig ¢stiinales aiid jiidgei)ients' recogThitioii. cl&1ssificalion Ilnd coinpletei)ess of iiicoiiie. In coii)iiion iviili all audits uiider ISAS (UK), Ive also required 10 perform specific procedures to respoiid to the risk" of iiiniiagei)ieiil OVelTide, We also obi14 ijied an undersl¢lnding ol the legal And regulalory (raiiieivoi'k"s ihal Ihe Cliarily opeTaies iii, focu.sing on provisioiis of those laivs and regulations Ihlil had a direct effect on ihe delerniin4lioi) of Inalei'ial aiiioiinls ai)d disclosures iii Ilie fin&ill¢i111 sliilemeiils. The key laivs and Yegiilalions ive considered in 11)is context iiicluded Cliarlly legisl4ilioii applicable lo Northern Irelaiid, Chayily's goveriiiiig docuiiieiil, eniployinenl law, he&?Iih and safely aiid lax legislalioii. In 41ddilion, Ive con8idered piovisions of oiher laivs alid reguli?lions Ilial do iiol have a direct effecl on the fiiiclncilil slaleinents bul coiiipliaiice iviih ivhich irÉay be fuIid4inicnl¢il lo Ihe Charily's ability to operi11e or lo avoid a Ji)aierial penaliy. for ex¢iniple coJ)Ipliance ivilh appliccible ATOL regulalions. Our procedures lo i'espond lo risks ideiitified include Ihe folloiving: ideiilifyiiig aiid assessing Ihe d&sign effe¢iiveness of coiilrols nianic gen)eiii has iii place to pi'evenl aI)d detect fraiid- revieiving the finaiicial slalenieiils disclosures 1¢ nd lesttng to siipportiiig d(Kuiiienlation 10 ssess conipliaiice ivilh provisions of Televanl Iilivs and regLilaltoI)s described as having direct effect on the financial slaienienls; eiiqiiirii)g of iiian4igeiiient 4ind exiernal legal advisors concerning AclLial and poleiilial litigation and c114 ims- perforIi)ing analyiici?I procedures lo identify any unusual or uiiexpected relatioiisl)ips th4lt iiiay indic411e i'isk of n)aterial iiiisslalejmeiils due lo fraud: reading minutes of meetings of ihose chllrged iviih goveriiance: oblaii)ing ali iiiiderslailding of provftsions and holding discussion5 Iviih managemeiil lo Liiidei'slaiid Ilie basis of recogiiilion. and in addressing the risk of fraud throiigh manageinenl override of conti'ols, testing 11)e ,Trpproprialeness of jOUTiial entrie5 <ind other adjusliiieiils including those relc11ing to reveniie recognilioI)' <lsse55tng wheihei. the judgeineiils.Ji)iide in m(1king accouiiliiig esiiinates 4ve indicative of polenli¢il bi1( s; llnd evaluating the ratioiiale of 16 ny sigi)ificani Iransaclioiis that are large, ujiusual or ou15ide Ihe nomi<l1 course of tlie charily'S <iclivilies. 14
F:XOY)US U'IIUST (A CO.IIPANY LI1[[ED BY GUARANTEE) I'Tr.AX Tr.NIITr.I) 31 AUGUST 2022 INDEPENDENT AUDITORS9 REPORT TO THE MEMBERS OF EXODUS TRUST (A COMPANY LIMITIID BY GUARANTEE) (CONTINUED) Auditor's responsibilllles for the audlt of the financlal slatements (coiiliiiiied) We also comniiinic4iled relev¢inl identifjed IRivs and regulaiioiis aiid potei)tial fraud risk.s to all eiigageiiienl leaiiis nieinbets <ind iemained alett 10 4iny indicaiions of fraud or I)oii-coniplidiice ivitli1&2IVS nnd itgiilaiioijs Ihi'oiighoul the audil. BecnLise of the inherenl liniil¢llioiis of an audit, Ihere is a risk Ihai ive ivill iioi delect all irregularilies, incliiding those leilding to ll malei-i141 niisslal¢i?i¢nl in ilie fjiiaiicial slatenieJ)Is or non-coJJiplj¢?nce ivilh regulalion. This risk incre14 ses the Jnore Ih4i1 complirf1nce with a laiv or regiilaiion is i'ejnoved frojii the eveiils aiid Iralisaclions retlecled iii Ihe fiiiancial slaleJiiei)Is) 14 s ive ivill be less likely lo becon)e aiv<ire of insliiiices of non-coii)pliaiice. The risk is lilso gTei4 ler iegarding iTregulai'ilies IKcuiring due 10 fraud rallier 11)aii error. as fr4iiid involves inieniionftl conceii lineni, foi'gery, collusioii. oiillssion oi. niisrepresenlalion. We 4ire noi respoi)sible for preveniing noii-conipliaiice aTid caniiot be expecled 10 deie¢i non-compliiiiice ivilh all laivs and regulalions. As parl of 01) audit in accordaiice wilh ISAS {UK). Ive exercise professionic l jiidgeiiienl 1¢ nd maiijlain pinfessioiial scepiicisni Ihroughoul the udil. We nl.$0: deiilify and asse.ss Ihe risks of millerial iiiisslaleiiieiil of Ihe fiiiancial slalenienls, Ivhelher diie 10 fi'&liid or eNor. desigii aiid perforiii audit procedures responsive to ihose risks, ond obioin aiidit evidcncc Ihat is .sufficienl ancl appropriate lo provide a basis for our opinion. The risk of nol deiecling 1& iiialerid11 nii5slaleTii¢nl res111iing from fraud is liiglier Ihan for oi)e resuliiiig froiii error, as fr<iud n11¢ y involve colli)sion, forgery, inleiilioiial oniissioiis, iiiisrepreseiilalioiis, or Ihe oveiTide of inlernnl conlrol. Obiaiii an iiiiderslai)diiig of iiiieriial conlrol relevaiit lo Ihe aiidil in order lo design audit pi'ocedures thai are appropriate in the circuiiislances. bul not for ihe piirpose of expressiiig ali opinioIi the effeeiiveiless of Ilie ehic rilal)Ic COlllPil1)y's inlcrnal control. Evalu<iie Ihe approprialeness of a¢¢ounling policies used aiid the reasonableiiess of accouIiting e51iiii<il¢s llnd relnled disclosur¢s made by Ihe Irustees. Conclude on the &ippropri<lleness of Ihe truslees. use of ilie goiiig concern bosis of accouilling 1nd. b1( sed on Ihe Iiiidil evidence obtained, w'helher a Inaierial iii)cerl.iiiily exists i'el2L led lo evenls or coiidilioiis Ihal iiiay cast sigiiiftcaiil doubt oil ihe clLirilable Coiiipii ny'.$ i?bilily lo conliiiiie <18 a goiiig concerji. Jf ive conclude ili(Il iiiaterlal uiKertaiiily ¢xisls. Ive ¢ire iequircd lo draw i?Ileiilion iii oui. aiidilor's report io Ilie related disclosures in the financial .slaleiiienls or. if siich disclosui'es .ire ii)adequ4?le. lo iiiodify our opinion. Oiir conclii8ions are based oil Ihe audit evidence oblaiiied up lo Ilic dale of our auditor's reporl. Hoivever. future eveiils or coildilions iiiciy cause Ihe charilcible conipiiny lo ce(Ise lo continue as a goii)g coiicerIi. Evaliial¢ ihe overall presenlalion, slruclure and coiitenl of Ilie fiijaiicial slatenient5. iIicluding the disclosiires, Iqnd ivheiher (he finan¢iig1 slalements represei)t Ilie ujiderlyiiig iransactions lind evei)Is in a iiliqnner IhqTrl Iqchieves flqif presenl4l1ion. We coniiniiniciile with those chc1rged ivith governance regarding, aniong oiher Jiiallers, the planned scope iiiid tiTiiing of Ihe audit and significant audit findings. including significani deficiencies iii inlernal onlrol lh11 ive idenlify during our iiiidit. 15
EXODUS TRUST (A COIIPANI l.lli Ji'fED BY GUARAKTEEI I'EAR ENDED31 AUGUST 2022 INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF EXODUS TRUST {A COMPANY LIMITED BY GUARANTEIE) (CONTINUED) Use of our repoi't Tliis report is ni4ide solely to the charilable coiiipany's menibers. as body. in accordaIice iviih Chapter 3 of Parl 16 of the Conipaiiies Acl 2006. Our 1¢ iidil ivork has been underl¢lk"en so that ive iiikghi slale lo Ihe cliiirllable coiiipany's iiieiilbers those inaiiers ive are required lo slate to il)eni iii Illl iluditoi s report und for 110 other purpose. To Ihe fullesi exleilt perniiiied by laiv, Ive do nol accept or assiiine responsibility lo anyoiie other Ihan the chiirilable eoii)pai)y and the chiiriiable coiiipany's mejnbers as a body, for our aiidil ivork. for this report, or for lh¢ opinions ive hcive forn)ed. Michael Mccarler FCA (Senior Siaiiitory Auditor) For ai)d on behiilf of Jacksoii Andreivs Charlei'Ld Acrounlaiils and Sialulory Auditor 6 Maiideville Mews Porladoivn BT62 3NS . qp4& LL 16
EXODUS TRUST (A CO,IIPANI' LIlI.1.l) Ill. GUAKANI'Tr:Tr. YF.AR ENDED 31 AUC.U.ST 2022 STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2022 Unreslrlcted generRI fuiids Unre5tdcled desiguated funds TotHI Fuiids Tot2LI Fuiids 2021 Resti4cted fuiids 2022 Notes Jiicome fi'oni: 1)0114l1ioi)s tii)d Icg41cies Cliic fillible 4lClivilies Oiher Irilding ¢icliviliey Oilier 653,553 294,790 32,844 4,036 80 657,589 294,870 32,844 495,829 102,470 8,636 87 Tolnl Income 981187 985 303 607,022 Exi)endllui'e Ch4lriliible aelivilies 908 831 622,314 Totnl exyeiidlture Not Iiicon)e I (expeiidllui*) Traiisfoi's between funds Net inovement li) fiinds (898 564 (908 831 622,314 82,623 (6,151) 76,472 (15,292) 82,623 (6,151) 76,472 (15.292) Reeoiitlllallon of fiinds: Toldl fuiids brouglil forw7rd Tol#l fuiids ¢g1'rled foi'iynrd 476 79 528.220 SS9 102 589 400 512,928 All incomc and expendilure derive from coniinuing nclivilies. Tlie slaieiiieni of fini?ncial acliviiies includes all gains und losses recognised in ihe year. 17
LXOI)IlS I ItLI.S J. IA LO.IIPANY LIF411Tlt.D JII. GUARANTEF.) YFJIR F.NDED.11 AU'Gusf 2022 BALANC SHE4 f*T- 31 AUGUST 2022 2022 Fixed H&scl8 Tingible ii SSCIS 14 264 764 257.818 Cili'lnI Awts -76,Df3 309,2811 J45,341 (20 705 324 636 C'asl) lll bliiik ftiid ii) liaiid 243.972 2C)9,519 (14.44C) 255,090 Ci'edltTrr.s: aiiioijiits fallliig duc ii'ilhin one )ear Ncl ciii'rcnl e18 16 Toll1 l aC.IS le&4 c'ui'i'eiil lialjililli's Net A.et8 589 400 512.9?8 Clinrity Tr iinds Ilnre.%lrrf tpl fiinil.s 55Y,IU2 47CI.479 Designii led TolAI tsrtr¢slrictcd fiiiids 19 559 102 476,479 Reslrlcled fui)ds 18 30,298 36.449 Tiit•il ¢hiirily I'un(Is 5¥Y4UO 512.928 The fiiiai)Liiil.slalcsnciii.s 'Cr¢ approvcd and llii1horisL for is5uc by Ihe Tnjslees on . Si8ned oil bchalf of Ih 'D'olrd ofTnisltYS'. Mr% l. I'l.yn8S fv(VJ Tlie noi0% un pagc$ 20 In 36 lonn pl ri of Ihcsc ucrounls. C'nnipii)y rryi4if.TrlTnn i)iirMhe.r' NI1($788 18
EXUDUS TkUS1' IA CONIVANY I.IIUTFD B Y (:UARANfir.F. yi,'.Iii i.-%i)[?I).11 .4T-,C'(T,ST 2n22 S'l'A'fiMENT or CASH fiLOWS- 31 AUGUST 2022 Not 2022 2021 Casli floii's froiii operaliuR ncllyilles: tNet L41&1i pri)viiled iiy UP¢1411iRg 4lLlivilic5 40.377 Liisli noi'.s from ini'isliR&¥ 41cliilies: Proc¢Lils froiii s?le of iaiigible lixed a%sL%i8 Purchi2SC OK tJngible fixed assels 19.-584 N'¥1 iiisli U>C'd in iiivcsÉinK 4Llivili 19.225 Net Incrense In cash ai$h equivaliiilR in ilie reyoi'iliig i)erlort 65,316 27.1.12 C.fLsh llnd cJ]81i equli&leiil.s al tlie l)eglnnliig of the repThrllng peri(>d 243,972 216,R2 Cash Iiiid eAsh cfjulv¥leiits Al tlic ¢ii(l of (h¢ rrportii)R pcrlod 309 288 241,972 Aiialysls oftnsli Aiid eSLsh tquli'Alelltx Cusli b¢liik ulld iii hand 'I'ot81 c8.4h Riid c&sli eqiili'olellL 3092XR 243 l)72 A. Rtt'onelllalion ttf iitl incniiiel(txp¢lldilyrc) to iicl c#511 noiv froni opei'nllJiK Acilvliies 2022 2021 Nct incoiiitl(cxyriidllurcl for tlie reporliii% pcrlod (as per Ilie 8fiiteiiieni of fiii&iic*AI Aclivitiesj Dcprcci4ilion Profjl oil Ilie.sal¢ of fixed .Iswl.% (IncrL'iS¢)Idecrcas¢ iii debiors Iiicreilsel(decrei1se) in etedilur¥ Net Cli811 pr¢)i'ldtil liy opernllng aelii'llle% 7ts,472 46,663 11.5.24)2) 110,486) 25,4311 118,905 116.377
Tr:XODUS'fiiusT (A COIIPANI, Lllk IITED BY GUARAKfEE) YEAR ENDED 31 AUGUST 2022 NOTES TO THE FINANCIAL STATEMENTS- 31 AUGUST 2022 I. ACCOUNTING POLICIFS (A) Geiiei'al inforniation and basEs of prepai'atloii Exodus Trii81 js pfiv£lle compaily lijnited by giiarantee, iiicorpornted in Noilhern Ireland. Comp<1ny registration iiuniber. N1065788. The registered office is 29 R41ilivay Sireel, Lisbiiri), BT28 IXP. Tlie cl)aritable coinpany conslilLiles a piiblic beiiefit eiiiily as defined by FRS 102. Slalejiieiil of Coiii lirfince The fin1( ncii?I siaienieiils have been prepared in 7CcOrdn¢e iviili Accouilling and Reporling by Cliarilies: Stiilenieni of Reconimcnded Praclice applic14 ble lo charilies prei)ai'iiig tlieir accoiinls in E1ccoKd<iiice with 11)e Financial Reportiiig Siandrfird applicable iii the Ui)ited Kingdoni and Republic of Ire11& 1)d issued iii October 2019. Ihe Finaiicial Reportiiig SILliidard applicable in the Uiiited Kingdoiii iiiid Republic of IiEl&1nd (FRS 102), Ilie Ch&ll'ilies A¢l (Noi'iliern Irelai)d) 2008, Charities Acl (Norihern Ireli1nd) 2013, 11)e Coli)2n1es Act 21X)6 and UK Gci)erally Accepted Practice. The finaiicial stalejnenis are prepared on ll going coiicerji lSS under Ihe hisiorical cost conveiilion, The finiiiicial slalenienls are prepared iii sterlin8 which is Ihe funclional cue11¢Y of Ihe ch4rily. Monetary aiilouiils iii Ilie5e financial slalemeiils are rounded lo the neaT¢sI £, The signific4int d1c¢oiinling policies are set out beloiv. The Trustees consider Ilial these accounling policies are siiithble, h4?ve been consislenlly applied nnd are supported by reasonable aiid prudei)i judgeniei)t aiKI eslimales. {b) Golng concern The fin1¢ nci<ql .slat¢menls have been prepared on a going concei'n basis as Ihe Iru51ees believe Ihcgt iio iiialerial iincerlaiiilies exist. Tlie Ilusiees have considered Ihe level of funds held cind the expecled level of incoliie and expeiidilure for 12 Jiionihs froiii auiliorising these fin¢1Ticial slffj2lenienls. The biidoeled inconie and expendiluTe is sU1¢icnI with the level of reserves for the cl)arity lo be able lo conliniie o going coiicerii. (c) Chai'fitable funds Fuiids held by the charity are eilher: Unreslricled general fuiids- Ihese are funds ivhich cali be used ill accordance with the charilc1ble objects ai the discTeiion of Ilie iruslees. Designated funds- these are fuiids Sei asid¢ by Ihe iruslees out of uilreslricted general fuIids for specific fulure purposes or projecls. Reslricled fLinds these ilre funds that can only be used for particular restricted purposes ivithin the objecls of the charity. Resirictions ivhen specified by the donor or ivhen Ihe funds are raised for particular reslricled purposes. The purposes and uses of the reslricied funds are scl oiit in nole 18 to Ilie fii)aiicial statemenls. 20
EXODU.S TRUST (A COIIPANI l.IhllT*.I) III. GUARANTEE) I'EAR F.NDED 31 AUf.UST 2022 NOTES TO THE FINANCIAL STATEMENTS- 31 AUGUST 2022 (CONTINUED) I. ACCOUNTING POLICIES (CONTINUFD) (d) Inconie reeogiillion All ii)coming resources are included in the Statejiienl of Finaiicial Aclivilies (SOFA) Ivhen the ch&1rity is legrfilly enlitled lo the iiicoiiie after aiiy perforniance conditions have beei) mel. the aiiioiinl can be niecisured reli14 bly lind il is probl1 ble thal Ihe incoiiic ivill be received. For doiialions lo be recognised the ch?( rily Ivill h¢lve been nolificd of the ati)ounts aiid tlie seiilenient date iii ivriling. If Iliere re coiidilioiis allached lo Ilie donation 1¢ nd this requii'es level of perforiiiaiice before enliilen)enl can be oblaiiied Ihen incoine is deferred iintil ihose conditions are fully iiiei or the fuifili)ieni of those conditions is ivilhiii the conli'ol of the chl& rily ai)d il is pi'obiible Ih<?t they ivill be fulfilled. Voluiilary iiicoii]e is received by ivay of gici111s, donalioi)s aiid gift.s i?nd is included in full in Ihe Sialeiiienl of Fiiiancial Aciivilies (SOFA) Ivliei) receivable. liicome received froni collections is recognised when received. Don&led facililies and donaled professioiilll services are recognised iii incoIi)e al their fair value Ivhen Iheir econoiiiic benefit is probable, it can be iiieasuied relii1bly aiid the chai'ily hÉiS conli'ol over the ileiii. Fair value is deleriiiined on Ihe biisis of the value of the gift lo the cl)arily. For exaiiiple Ihe anioiiiii the chi1rily ivould be willing Io P41y in Ihe open ii)arkel for sucli facilities aiid services. A correspoiidiiig amount is recognised in expendilLire. No amoiint is included in the fiii&incial slaieiileiils for voluiileer liine iii IiT)e iviil) the SORP (FRS 102). Graiits aiid coiilracls. iiicluding capital grants, froni ihe governinenl and oiher ugencies l)&lve beeii ii)cluded as iiiconie froni aclivilies in furtherance of the charily's obj¢cls ivhere ihese aniouiil lo a contract for services. but iiicliided as donations where Ihe iiioney is given in respos)se to an appeal or iviih 8rei2ler freedoni of iise. Oiher income represents income thal caJin(A be reported under tlie other ailalysis headings provided ivithin Ihe SOFA. (e) Ei xpei)diture recoEIiltlon All expenditiiie is iecogni5ed on &1n 47cciuals basis as a Itabilily Is incurred, 21)clusive of VAT whicli cannot b¢ recovered aiid ha5 been classified Uler IieadiI)gs il)al aggregate all costs related to the c&legory. Fiiiiding s)rovided throiigh con11aclu2I L1greenientS nd perfornilc nce ielaled gran15 al'e recogiiised as goods and serviccs are supplied. Oiher grant Piiyinenls cire recogi]ised ivhen a conslruclive obligalioi) arise.s ihat resulis in the P41yJiienl being uiiavoidable. 21
EXODU.S TRUST {A CO)IIJ,INI' I.INIITED BI. GUARANTEEI Yb.AIE ENDED 31 AUGUST 2022 NOTES TO THE FINANCIAL STAT1 MENTS _ 31 AUGUST 2022 (CONTINUED) ACCOUNTING POLICIES (CONTJNUED) (e) Ei xpendlture reeogiiition (coiiliiiited) All other expendiliire is recognised ivhere there is a legal or conslruclive obligation lo i)iake payiiiei)Is lo tl)ird parlies. il is prob1& ble Ihlit the seltlen)ent ivill be required and the aiiioiinl of the oblig1¢ lion Ccin be measiired reliably. It is C¢ltegorised iindcr the following headiiigs: Costs of raising fiiilds include5 Ihe cosls associrflled with allracliiig volui1114 ry incoiiie; Expendilul'e oil charitable aciivilies includes those cosls incurred by Ihe cli&irily iii Ilie delivery of ils 11 clivilies cind services for its beneficiaries. Ji includes both costs Iliat can be 4illocilted direclly io such activities and those costs of an indii-ecl iialure necessary lo support Iheni, and Other cxpeIidilure represenls Ihose ileii)s nol falling ijiio the categories above. (Q Support costs allocation Siipporl costs are those Ihal assisl the work of the charity biii do not directly represeiit cl)arilable aclivilies &111d include office ¢osis. governaii¢e cosls ai)d adniii)islralive P¢2ywoII costs. They are inciirred directly in supporl of expenditure oi) the object.s of the chRI'ily. Where siipporl ¢OSlS Ciiiiiol be directly allribuled to P¢lriiciilai' headiiigs, they l)ave beeii lllloc4iled to expendilure on charilable a¢iiYities oil a basls consislenl ivilh the use of the resources. (g) TAI)glble filxed assets Tangible fixed assets are iiulially iiieasured al cost less and subsequenlly iiieasui'ed ai cosl or valuaiion, nei of deprecialion and any ii))paimienl losses. Capital graiits received in respect of t4ingible fixed assets are ainortised over Ilie life of the assel in line with deprecicilion. Depreciation is recognised so as to ivrile off ihe cost or Yaliialion of assets less Ilieir residual V&ilites over Iheir useful lives on ihe folloiving bases: Iiiiprovenieiils lo property Fixliires and fillings Equipiiienl 510 slraighl line IO% reducing b<ilciiice IO% reduciiig balance 22
.¥ODUS TRUST (A COIIPANY LIhIrrED BY GUARANTkTr. EAR ENDED 31 AUCUST 2022 NOTES TO THE FINANCIAL STATEMENTS - 31 AUGUST 2022 (CONTINUED) ACCOUNTING POLICIES (CO&Y71NUED) {h) Debtors and creditors recelvhble / payable wltliin oiie year Debtors and credilors ivilh iio slated ijileresl rate and receivable or payable iviihin one year are recorded al Iransaclion price. Any losses arising froiii inipaimienl are I'ecognised in expenditure. {1) Impaliinent Assets nol nieqisured al f4?ir valiie are revteived for 14 ny indicalion Ihai Ihe asset iiiay be iinpaired al eacli balaiice slie¢l ds?le. If .such iiidicalioii exists, Ilie recovei'able aiiiounl of the .Issel, or rhe assel's cash generaling unil. is estiiiialed 1nd coinpli red lo Ihe carrying ainouiil. Where Ihe carrying aniounl exceeds ils recoverable <llllOI)nl, iiiipaii'nieiil loss is recogJ)ised in pi'ofil or loss iii)less the asset 15 caiTied al a revaliied aniouiil where the iiiipiiirnieni1088 i.s a revalLl<ilioI) decrease. a) Casli Aiid cfisli equivhlenls Casli aTid casli equivalents incliide Ccish in hi?nd, deposils lield al call ivith bcinks, olher,shorl- leriii liqiiid inveslinenls ivilli original iiiaiurilies of Ihi'ee months or less. (k) fi iiiaiieial instruments The charily has elecled lo apply Ilie provisions of Seclion I I 'Basi¢ Fiiiaiicial Inslrui)ienls' and Section 12 '0iher Fii)ancial Iiislruiiienls Issues, of FRS 102 to all of its fini¢ iicial ii)slrunients. Financial instrunienls are recognised in the charily's balaiice sheet ivhen Ihe ¢hai'ily becoiiies P&lrly to ihe conlracluiql provisions of Ihe inslruiiieiil. Fiiiancial assets aiid liabililies are offset, Iviih ihe iiei ainounls presented iii Ihe finai)cial stalenieI)Is. Ivlieii Ihere is a legally enforceable rigl)I lo set off Ilie recognised amoiii)1s and Ihcre is i1n inlenlion lo settle on a net basis or lo iealise the asset aild settle the liiibilily simullaneoiisly. Basicfiiiaiicial llssets B4?5ic fin¢incial t155ets, Ivhich include debiors and cash lind b<ink b411an¢es, are iiiilially Jneasured al Iransaclioji price iiicluding Iransaclioji costs 4?nd are subseqiienlly C<ll'ried at amorlised cosl using the effective interest Ineih(Kl unless ihe arraiigeiiienl coi)slitules a fii)Iqncing trans41clion. Ivhere the IransactiOJi 15 Ine4isiired al the preseiit value of the fului'e receipts discouiited at a niarkei rate of intere51. Financial assets classified as recetV47ble ivilhin one year i1re i)ot ainortised. 23
EXODUS TRUST IA CONIPJSNI LihifTED BI. GUARAKfEE) I'F.AR Tr.NI)F.D 31 AUGusf 2022 NOTES TO THE FINANCIAL STATEMENTS- 31 AUGUST 2022 (CONTINUED) ACCOUNTING POLICIES (CONTINUED) (k) Fliiftnelal litrumentS (coiiliiiiied) Basicliiiaiicial liabililies Basic flnancial liabililies. iiicludiiig credilors q?nd bank loaT)s are iiiilially recogiiised ai Iiansaclion price iinless the Iirr41ngement coi)slilules a fiiiancii)g IraIisaclion, Ivhei'e the debt iiislrunieiil is measui'ed al Ilie preseiil value of ihe future Piiyiiienls discounted al a iiiarkel rale of inleresl. Finii nci111 liabilities cliissified as payable ivilliin oIie year are noi aiiionis¢d, Debt inslrunien15 are subseqiienily carried al aiiiorlised cost. suiiig Ille effective iiilerest rale nieiliod. Trade crediloi's lire oblig¢ilions Io P1¢ y for goods or services Il)al llave beeIi <icquired in Ilie oi'dii)<ll'y coiirse ol operalioi)s froiii suppliers. Aiiiounls payable fti'e cliqssified lls ciirreiit liilbililies il yiiiei)l is due iviiliiI) oiie year or le55. If not, Ihey al'e pre.sented as iion-ciiii'eiil linbililies. Trjde credilors are recogiiised initially al Iraiisaclion price aIid subsequenlly Jiie&sured 411 aiiiortised cost usiiig the eff¢clive interest meihod. (l) Leasos Renials payable lind receivable under operaling leases are charged lo ilie SOFA on a slraighl- lii)e basis over Ihe period of ihe lee. (m) Ei)Iployee bencllts The cost of nny iiniised holiday enlillement IS Tecognised in the period iii Ivhicli the einployee's s¢rYices are received. Terminalion benefils are recognised iinmedialely as an expense ivhen the chwc'ily is deiiioiislrably conllnilled to termii)ate11)e eiiiployiiienl of an employee or to provide ieiiiiiT)alion benefils. (li) Relli*le11lS beiiefits The charily operales a defined contribution plaii for the benefit of ils en)ployees. Conlribiilioiis are expensed as they beconie payable. (o) Taxation As a charity, the cojnpaiiy is able to recover Jnosl Iclx deducled al soiirce froiii its iiivesliiieiil incorne and is nol liable for corponlion lax on ils (Aher iiicoine or on capffilal gains. Recovery is therefore Inude of tax credils and lax deducled from inconie received uiider deed of covenant or gift aid, 24
kXOI)US TRUST IA COIIPANI, LlhllTED tly GUAHANTTr:Tr.) 'fr:AR Tr.NDED 31 AUCUST 2022 NOTEI S TO THE FINANCIAL STATEMENTS- 31 AUGUST 2022 (CONTINUED) ACCOUNTING POLICIFS (CONTJNUFD) (p) Judgenients and estin)afes Iii Ihe application of Ihe churily's accounting policies, Ihe Trustees are required to 11)42k'e jiidgemenls, esliinales and assunipiions aboiil Ihe cAY]ng ai)iouiil of fÉssets and li1¢ bililies th1¢ 1 al'e not readily app(Ireiil froIi) olhLr soiii"ces. Tlie estiniales aiid l2ssociaied 1¢ SSLillipiioi)S Llre based on hi.storical exi)ei'ience aiid other faciois Ihal ai¢ considered lo be relevanl. Aclu.211'esulls differ froiii Ihese estiii)ales. The esliiii¢11es nnd Linderlyiiig assiiiiipiioi)s are revieived oil an ongoiiig basis. Revlsions lo accounting esliiiic1tes are recognised iii Ilie period in ivhich Ihe esiiT)iaie is rei'lsed ivhere Ihe revision affecls only Ihal period. or ill Ilie period of the revision aiid future periods ivhere the ievisioii affects botl) curreiit aiid fuiure periods. The folloiving jiidgenienl.s incliiding iliose involving eslimi?les hcive been i))ade iii the process of applyiI)g the above accoiinling policies Ihat l?ave Iiad the niosi significani effect oil tlie aiiioun15 recognised in the flnancial slaleiiiei)ts and Ih4lt have a signifieanl risk of causing iiialerial adju51iiienl to Ilie carrying 4imounis of asseis ajid liabililies ivithin Ihe iiexl financial ye<lr.' (i) depreciaiion nielhod and assei useful lives INCOME FROM DONATIONS Unreslrlf ted rullds Reslrlcled (unds Total Unresiricieil 2022 funds Rcsiriclcd funds Tolal 2021 Doniilions, Icgncics and gifts Gi'.2nls Trus15 and or£i( nis<ilions Gift Aid Job l<cteiiiion ,Schcinc grani 276,527 91,IAO 50 276,577 91,11 231,218 13.675 244.308 26,260 258,852 27,(164 3,978 262,830 27,072 163.289 24.384 6,400 169.689 17,513 450 079 17,513 49.5,829 653 453 657 589 45.750 ncluded ivilhin donation5 is £20,000 (2021: £20.0(Ml) Ivliich rel¢iles lo the fil cililies provided freely lo the charily. This figure is Ihe value of the gifi lo 11)e ch1¢ Tily ivhich i.s Ilie anioiiiil Ihal the ch?( I'lly ivoiild expecl to pay in Ihe open markel for an alternative ilem Ihal woiild provide an equiv¥?lent benefit. The Sc11ne aIiiouiit is included iviihin renl and rates eApeiises. Addilioniilly. dojialioiis also incliide an 4iiiioiinl of £lO,(X)0 (2021: £Nil) Ivhich ivas received io coiilribule loward expendilure in Ihe folloivii)g fiiianci¢11 yeiqr, 25
EXODUS TRUST IA CO%IPANI' LihirrED BY GUARANTEEI 'EAR ENDED 31 AUGUST 2022 NOTES TO THE FINANCIAL STATEMENTS- 31 AUGUST 2022 (CONTINUED) INCOMEI FROM CHARITABLE ACTIVITIFS Unrestrlcted Reslrl¢¢td fiinds (unds Total UnT¢sirieied 2022 funds Resiricied funds Total 2021 isciple$liip fiindr4qising isciplesliip personiil ¢oniribiilions l)oor 1< dmissions aiid lill sales 126,663 126,663 52.725 52,725 147,667 147,667 44,042 44.042 80 80 5.703 102,470 294 790 294 870 102,470 OTHER TRADING AC'fiviTILS unstrIcted Re51rlcted ruiids (Iinds TolAI Uiire51ricted 2022 funds R¢siri¢i¢d runds 2021 Residei)tial centrc income Hirelrenial Iniernship iiicome Oilier incoiile 15,228 15,485 1,452 679 15,228 15,48S 1,452 679 1,649 6,231 756 8.636 1,649 6,231 756 8,636 OTHER INCOME Unyeslrlcted fiin(Is Reslrlcled funds TotAI Unrestricted 2022 funds Rcstricied funds Toliil 2021 Profit on disposal of fixed assels 87 87 87 87 26
EXODUS TRUST (A COIIPANI. i.IhirrED BY GUAKINTTr:Tr. YEAR ENDED 31 AUGUST 2022 NOTES TO THE INANCIAL STATEMENTS - 31 AUGUST 2022 (CONTINUED) ANALYSIS OF TOTAL EXPENDITURE Clbarllable aclli'illes: Enlioncement of Clirislillii rellglon ljasls of a110¢41ilon Total 2022 Costs dlreclly ouocated to acilvltles Graiit fuiiding Depreci?1 lion nnd illlP&iirffl¢nl Discipleship expei)ses Tri2vel exp¢ns¢s Flighis nild YISKIS Dirc¢l nirecl 84,055 46,663 95,904 16,639 89,497 12,352 1,229 3,226 207 84,055 46,663 95,904 16,639 89,497 12,352 1,229 3,226 207 4,816 3,587 33,359 33,489 21,788 Dirccl Direcl Direcl Dircci Direci Direcl Subscriptioils Licence fees Sundry expenscs .Siic ff d¢v¢lopiiienl Meeling cxpci)scs Gifts Prograinii)e expenses Roiii(1111%2 cenire l)irect DiTeci Direci 4,816 3,587 33,359 33,48Y 21,788 Dhrecl DiTccI Dirccr Dirccl Refreslimenls 448,000 448,000 Suyporl Cost$ GoYern%ince (see note 7) .814ilf ¢osis (See note 12) Rent and F?¢ les Cost 15,064 358,027 22,406 13,765 3,354 23,638 4,424 16,212 15,064 358,027 22,406 13,765 3,354 23,638 4,424 16,212 Cosl Cos1 Lighi ¢ll)d lieal TelLphone Postsige. slalionery 4ind priiiling Cle<1ning Insiirllnce Bil nk eharges Cosi Cost Cost Cosi Cost 460,831 460,831 908,831 908,831 27
EXODUS TRUST (A COIIP,INY I.ThIED BY GVARANfEE} YEAR ENDED 31 AUGUST 2022 NOTES TO THE f4JNANCIAL STATEMENTS- 31 AUGUST 2022 (CONTINUED) ANALYSIS OF TOTAL EI XPENDITURE (CONTINUED) Cliarilable aclivilies: Enhancemeni of Chrisli¢1n religion Tolal 2021 •IIoc¢11ion Cosés dli'eclly allocoled to Aellvltles Graiit fuiidiiig Depr¢ciaiion aiid inipairmeni Disciple511ip expeiises Travel expeiises Flighis and visas Repli irs Subscriptions Liceiice f¢c5 Siiiidry expeiises Siaff developii)ent Mceling cxpcnses Gifis Progrllninie expcnscs Roii)ai)ift ceiilre Direct Direci 74.030 45,716 59,954 3,636 200 74.030 45.716 59.954 3,636 200 Direci Dir¢¢i Direct l)irecl 22,379 3.436 5.899 42 22,379 3,436 5,899 42 1,280 1,012 2.216 16,856 2,900 2.114 241,670 Direcl Direci Direcl l)ir¢¢i 1,280 1.012 2.216 16.856 2.900 2,114 241,670 Direct Direct Direct Direei Direct Refr¢5hmenl$ Siipport Costs Govem41nce (see nole 7) Staff COS13 {sc¢ noic 12) Renl ftnd rftles Cost Cost 12.387 308.757 21,298 6.901 2,814 11,302 2.246 12,180 2.759 380.644 12,387 308,757 21,298 6,901 2.814 11,302 2,246 12,180 2,759 380,6M Cosl Cost Liglil and Iicnl Tclephone Posl%igc, slationcry and printing Cleaiiithg Insur¢1nce Cosl Cost Cost Cost B.211k- cli2rges Co 622.314 622,314 28
EXODUS TRUST IA CO.IIPklNI l.IhllTED III. GUARANTEE) AR ENDED 31 AUGUST 2022 NOTES TO THE FINANCIAL STATEMENTS- 31 AUGUST 2022 (CONTINUED) ANALYSIS OF TOTAL EXPENDITURC (coMriNUED) £7.179 (2021- £19.214) of the cost of activities Under11ken dii¢ctly and £3,088 (2021 £22) of supporl costs iyei'e 1¢llYibulable lo reslricled lunds. £440,821 (2021 £222,456) of Ihe cost of activitie5 ui)derlakeii directly aiid £457,743 (2021 £380,622) of supporl costs ivere atlribiildble lo uiuestricled fuiids. £Nil (2021 £Nil) of the cost of 4lCtivilies iinderlaken direcily and £Nil (2021- £Nil) of support costs were aiiribulable to desigilaled funds. 7. GOVERNANCE COSTS Uiwesli'lcte(J Re51rlcted funds funds Total Unrestricled Restricted funds 2022 funds 2021 Trusic¢ remuncralion 'rrusi¢c Iravcl Au(lilor's rcinuiicralion Legal .Iiid proFcssional 3,456 3,456 3,456 3.456 8.931 12,387 15,064 GRANTS PAYABLE Tlie ch&lrily ljl12de griint P1yJnenis of £83.095 (2021: £73,070) duriiig Ihc year lo Exodus Ccnli'iil 1( nd Ea51ern Europe ivlllcli is based iii Hungary Io 11ssisI il in rei1chiiig Ihe Sc1111e 801( Is as those ii) Exodus iii the UK. Tlie iigreeiiieiil is for iiioiiihly payinenl8 ivhich can be aliered or cancelled by Ilie Iruslees at lilly liiiie. NEIT INCOMfi(EXPENDITURE) FOR THEI YEAR Nel inconiel{expei)dilure) for the year is slaied after charging l (crediling): 2022 2021 Deprecirf1tioI) of taiigible fixed asse¢s Operating le&lse rent¢ils Audilors, reniiineration 46,663 45.716 3,456 10. AUDITOR'S REMUNERATION The aiidiior's reniuneration amoui)Is to an 1¢ udit fee 01£3.456 {2021: £3.456) and other services of £Nil (2021." £Nil). 29
EXODUS TRUST IA COIIPANI. LIlTr£ BY GU&lRANTTr.Tr.) ENDED 31 AUGUST 2022 NOTES TO THE VINANCIAL STATEMENTS - 31 AUGUST 2022 (CONTINUED) 11. TRUSTE, AND KEY MANAGmENT PERSONNEL REMUNERATION AND I XPEI NSES Tlie charity coiisiders ils key iiiaiiagenienl personnel comprise the Board of Trustees and the senior leadership leaiii. The 1011& l aTnounl of remiiner<ltion Alnd benefits received by trusiees aiid senior leadership te?1 l)) in the ye<lr was £78,180 (2021: £75,683). Tlie Iriisiees did Jiot have aiiy expenses reijnbursed during ihe yeiv (2021: £Nil). 12. STAFf cosi's AND E1MPLOYEI BENifiTS The average nionlhly nuiiiber of employees during the year ivas as folloivs: 2022 Nuiiiber 2021 Nuiiiber Office Tiian<lg¢iiienl 17 15 The lolal slaff costs and employees, benefils was as folloiys: 2022 2021 Wages and saliiries Soci111 seciirily DefiIied conlribiilion pension cosls 323,848 27,196 281,795 20,363 6,599 308,757 358 027 2022 2021 Allocaled lo: Enhanceineni of Chrislian religion 358 027 358 027 308.757 308,757 No eiiiploye¢ received rernuneralion of niore than £00.0 duriiig the year. 13. TAXATION As a chai'ily, the conipaiiy benefils froin various exeiiipiions afforded by lax legislalioii. 11 is Iherefoi'e not licible lo corporation l<iX oil iiiconie oi. gains falliiig due iviil)in those exeinpiions. Recovery is niade of lax deducled froi)i receipts linder gifi Ilid. 30
EXODUS TRUST (A CO,%IPANI Llhifib,D IIY GUIlllANTTr'Tr.I YEAR ENDED 31 AUGUST 2022 NOTES TO THE4 FINANCIAL STATEMENTS - 31 AUGUST 2022 (CONTINUED) 14. TANGIBLE FIXED ASSETS Improvements to properly riixtures and Equlpnieiit fittiiigs Tolnl Cost At I Sepianber 2021 Additi011S At 31 August 2022 840,801 26.447 867.248 64.248 7,976 84.845 19.166 104,011 989.894 53.58L) 1,043.483 Depi'eclatloi) Al I Septeinber 2021 Ch<1rge for the year At 31 Augu512022 625,626 40.949 666,575 52,379 1,810 54,051 3,904 57.955 732,056 46,663 778,719 Net book valiie At 31 Aiigu5t 2022 200 673 18,035 264 764 Ai 31 Aiigiisl 2021 215,175 1,869 30,794 257 838 Iiiiprovenienls lo properly represent costs in respect of Ilie folloiving properlies, owned by Padly Limited.. 1. 36 Long Coniilions, Coleraine 2. 29 Railway Sireei, Lisburn Tivo of the directors of Pcidly Limited are directors and Irusiees of Exodus Tnist. 15. DEBTORS 2022 2021 Trnde Debtors oihei. debtors Prepayi))ents and accrued income 10,869 20,596 455 21,337 3,775 25.567 31
F:XOt)US TIIUST IA CO.IIPANY LINIED BY GUARANTEE) I'LAR ENDED3A AUGUST 2022 NOTES TO THE FINANCIAL STATEMENTS - 31 AUGUST 2022 (CONTINUED) 16. CREI DITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2021 Trade creditors 4,067 1,328 15,310 4,134 1,209 9,106 14.449 Oiher creditors Acci'11471s 17. RETIREMENT BENEFITSCHEMLS Defiiieil conti'ibutioii sclieines Tlie cliarily operaies 11 defined conlribulion pension schejne for all qualifying eiilployees. The assels of Ilie scli¢Iiie 1lr¢ held 5ep¢lrat¢ly froni Ihose of ihe cliai'ity in an iiidependently adi))inisleied fi)nd. The charge lo profil or loss in respecl of defjiied contribution scliejnes iV<15 £6,983 (2021: £6,599). 18. RLSTRICTED fuNDS The inconie of Ihe fiiiids of the chariiy incliKle reslricted fuIids coi))prising Ihe folloivins unexpeiided balances of doiialions aiid graiils held on Irust for spe¢ific purposes. Baliince I September 2021 Moveineiil iii fuiids Income Expendilure Balance 31 Aiigust 2022 Transfers SOAR Erasnius Spanish Developiiient Coleraiiie refLirbishiiieni 8,767 2.879 2,240 2,580 1,478 (4,479) 6,868 4,357 1,280 (960) i'eveniie 10.555 12,008 58 {3,449) {1,379) (5,586) 5.586 1,578 16,215 capital 36,449 4,116 (10,267) 32
XODUS TRUS'I (A COIIPANY LlhJITED BY C.UARANTEE) I'F.AK F:NI)F.l) 31 IIUGUST 2022 NOTES TO THE FINANCIAL STATEMENTS- 31 AUGUST 2022 (CONTINUED) 18. RLSTRICTCD FUNDS (CONIINUED) B4llcince I Sepieiiiber 2020 Moveinenl in funds Income Expeiidilure Balance 31 AugLSsI 2021 Transfers SOAR 4,825 .910 3,200 5.000 6.260 {1,058) (5,291) (960) 8.767 2,879 2,240 Eri?811111S Spanish Developmenl Coleraiiie refurbi8hmenl i'evciiue 34,490 (11.638) (12.297) (289) 12,297 10,555 12,008 capital 9,935 45.7.fj0 19,236 36,449 Pur Ose of Restrlcted Fuiids SOAR is li schools b¢ed leadership developjiienl programnie. Erasiiiiis is an exehaiige progTaiiiiiie ivhere inleriis froiii Europe coIiie and ivork iviili tlie charity. Spanish Developnienl is to lielp fuiid a niissionary in Spain. The chfirily is refLirbishing Ilie Coleraine properly and has received funding ioivfirds Ilie refurbishnienl. 19. UNRfsTRICTED FUNDS Balance I Sepieiyiber 2021 Moveinent iii fuiids Inconie Expendilure Bnlance 31 Aiig115t 2022 Transfers Unrestricted funds: Cjciieral 476.479 476.479 981.187 981,187 898.564 (898,564) 559 102 559,102 Desi2n¥ll¢d Fixed assel fund 476,479 981.187 898.564) 559 102 33
EXODUS TRUST IA COIIPANI. Llf+ITfED B), GU,IRANfEE 'EAR ENDED 31 AUGusf 2022 NOTE4 S TO THE FINANCIAL STATEMENTS- 31 AUGUST 2022 (CONTINUED) 19. UNRESTRICTED FUNDS (CONTINUED) Moven)ent in funds Income Expendilure Transfers B¢ilaiice 31 Aiigiisl 2021 I Scpteiiiber 2020 Uiiiesiricted fui)ds: General 299.883 299.883 561,272 561,272 (603,078 1603.078) 218 402 218,402 476.479 476,479 DesiRiialed Fixed asset fuiid 218,402 218.402 218,402 (218,402) 518.285 561,272 (603,078 476.479 Pui. ose of Desl Jiate(I fuii(Is Flxcd Asset fiuiid - Coi)sisls of fiiiids designaled for Ilie purchase of fixed assets and is released over tlie related assets. useful lives. Tlie Iruslees dceiii as Ilie purcl)ase of Ihe Iissels h47ve beei) iiiade, releasii)g Ihe depi'eciÉ21ion over tl)e life of Ihc assels is Iio loiiger prudeili. Tlie reniaiiiing luiid been Iransfeed lo unreslricied funds. 20. TRANsfiERS Trai)sfers repi'esenls: siirplus fuiids moved from reslricled funds to unre51ricied general fiinds ivhen the resirictioIi lias ended. for ¢Xfiiiiple, Ivhen Ihe associated projecl is coiiipleie and Ihis has been con)iiiiinic42ted lo the cl)arily by the fiind provider: fui)ds iiioved froi)i iinreslricled geiieral fiinds 10 reslrict¢d flinds to iiieel aiiy shorifi2lls* lind fixed assets pUrchlSed Irai)sfeiTed fi'on) revei)ue 10 capilal restricted funds. 21. ANALYSIS OF NET ASSETS BETWEEN FUNDS Tai)Eible rixed assets Cun'enl assels Balaiice Rt 31 Aiigiist 2022 Unreslrirlcd funds.. General reserve 248,549 310.553 559,102 Restricted 16,215 16,215 Rei'eJ)ue 14,083 14,083 16,215 30,298 264.764 324,636 589 400 34
EXODUS'I'JIUST {A COIIVANY LIllrF.D III. GUAR4pifEE) YEAR Tr.NDED JI AUGUST 2022 NOTES TO THE FINANCIAL STATEMENTS - 31 AUGUST 2022 (CONTINUED) 21. ANALYSIS OF NET ASSETS BEI TIVE4 EN FUNDS (COJVYINUED) Tangible fixed assets Curreiit assets B1¢ lai)ce at 31 Aiigiisl 2021 Uiireslricied fiinds: Geiieral Teserve 245.830 230,649 476.479 Reslricted Capital Reyeniic 12,(K)8 12,008 24.441 36,449 12.008 24,441 257,838 2.55,090 512,928 22. CONTINGENT LIABILITJLS Tlie chq?ri11¢ ble coinpaiiy lias conliiigeiil liability lo rep&iy gr•nis received if the coiiipaiiy fails lo coinply Iviih cer141ill condilioiis Slipuli11ed in Ilie leller of offeT and lei'i?Is aiid condiiions of contracl undei. Ivhich th¢ grants ivere paid. The direclors Ilo iiol expecl ciny clainis lo be Ji)1ide in Ihis i'especi. 23. COMPANY STATUS The ¢oiiipany is liiniled by giiaratllee and has no share capiial. On a iviiidiiig up members niay be requird to contribute a ii)aximurn of £ l. 24. ETHICAL STANDARDS In coii)nioi) willi iiiany other organis<i1ions of oilr size aiid iialuie, we use our auditors to preprf1 aiid llssist in the i)reparalioii of Ilie financial slalenienls. 25. RELATED PARTY TRANSACTIONS Trustees key Inanageiiieni personnel reinuneralion 4gnd expeiises are disclosed ii) note I I to the notes lo tlie fiiianci411 slatemenls. Iiicluded ivilhln expenditure on charilable activities are aniouiils lotallillg £234 (2021: £2.240) paid lo Lynas Foodservice, a coiiipaiiy in which Mr A Lynas is a director. The amount oivii?g al the yeiir-end. iiicliided in trade creditors ivcis £Nil (2021: £Nil). Incliided ivithiii expendilure on legal aild professional fees are ainoiinls lotalliiig £3.960 (2021: £3,960) paid to Aikei) Accoiinlancy LLP, a cotllP61ny in Ivhich the spouse of Claire Aiken is a direclor. Tlie iiiouiit oiviiig %il the year-end, ijicluded in credilors ivas £Nil (2021.. £Nil). 35
EXODUS TRUST IA CO_IIPANY lJl4llYTr.D IIY GUAIIANTTr,K) YLIR ENDED JI AUC.UST2022 NOTES TO THE FINANCIAL STATEMENTS- 31 AUGUST 2022 (CONTINUED) 25. RELATED PARTY TRANSACTIONS (CONTINUED) Incliided iviihin donalions and legacies is an aniouiil of £143.333 (2021: £110.799) froii) The Lynas Ch41rilable Triisl Fund. of ivhich a Iruslee is a close faniily iiieinber of ali Exodus Trust Irusiee. There vei'e iio aniouT)Is oulslanding at the year-ei)d (2021: £Nil). Included iviihin donations ai)d legacies is an aiiiouiit of £1,150 (2021: £900) frojii Mr A Lynas. There Ivei'e Iio diiiounls oulslandii)g al Il)e year-end (2021.. £Nil). Iiicluded ivithin doi)alions 4lnd legacies is 4in aiiioiinl of £Nil (2021: £2,IM)O) from Mi's C Aikeii. Tl)ere Ivere no ainounls oiilslandi))g at the year4nd (2021: £Nil). 36