TRANSFORMATIONS IRELAND LIMITED IA company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 The Trustees present their annual report together with the financial statements of the Company for the 1 January 2022 to 31 December 2022. The annual report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements. the requirements of the charitable company's governing document and the provisions of the Ststement of Recommended Practice {SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Since the Company qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. Structure, governance and management a. Constitution Transformations Ireland Limited is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 5th December 2004. The company is a registered charity with the Northern Ireland Charits"es Commission under number NIC102856 and accepted by HMRC as a charity under the reference XR84067. b. Methods of appointment or election of Trustees The management of the Company is the resF)onsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association. As required on an ad hoc basis the Trustees discuss the appointment of potential new Trustees for appointment to the Board. Suitable people are approached and if they are willing to serve on the Board their nomination is put forward for approval. c. Organisational structure and decision-making policies The Board of Trustees are responsible for all aspects of corporate governance within the company. They meet a minimum of four times a year to define and agree strategic priorities for the charty, monitor progress and review the resources available to sustain the company. d. Financial risk management The Trustees have assessed the major risks to which the Company is exposed, in particular those related to the operations and finances of the Company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. Objectives and activities a. Policies and objectives The principal objective of the company is the advancement of religion through the organisation prayer events for the promotion of the word of God. Transformations Ireland Limited was set up to give form and accountability to our existing ad hoc group that had been meeting since 2001 to pray and to unite with others in repentance before God and to seek the power of his Holy Spirit at work in bringing all Ireland. but particularly Northern Ireland, back to God.
TRANSFORMATIONS IRELAND LIMITED IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Objectives and activities (continued) b. Activities undertaken to achieve objectives The activities undertaken to achieve the objectives include the organisation of a number of prayer events and gatherings to facilitate the neOrkIng and communication beeen various local prayer groups and other Christian organisations throughout the UK and Ireland to promote the word of God through the provision of teaching courses, guest speakers and support. c. Main activities undertaken to further the Company's purposes for the public benefit The main projects undertaken for the public benefit include facilitating events where members of the public from different areas, churches and social backgrounds can come together to communicate, build relationships and strengthen their faith through the promotion of the word of God. The public benefit can be seen through the spiritual, social and general wellbeing from those who attend the events, as well as providing a place for peace and reconciliation with people from different communib.es and perspectives. Achievements and perfomiance
TRANSFORMATIONS IRELAND LIMITED IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Achievements and perfomiance (continued) a. Review of activities In 2022 we have organised and managed prayer for Stormont politicians via Zoom lon three occasions). In addition, we were delighted to be able to recommence meeting physically in the building, which we were able to do on for the first time in November. In addition, we finished a programme of teaching (begun 2021) via Zoom from Alistair Petrie (Partnership Ministries, Canada) for participants and leaders across Ireland and UK. In May 2022, in partnership with Kairos Trust we ran three discussion meetings on future forms and directions for the church. These were directed primarily at church leaders and were moderated by John and Christine Larkin from Southampton (Restoration House). Our neorking, and relational activits-es have also continued and have seen an increased number of physical meetings including one trip to the West of Ireland in February. We continue to maintain regular contact with prayer leaders across Ireland, England. Scotland, Wales and the Channel Islands as well as farther afield and were pleased to join with them in our first (since Covid) physical forum in Scotland in September. We continue to have meetings with a neOrk of participants from the house church movement in England (but also some from Wales, Scotland and US). Also. our relationships with the North Devon House of Prayer as well as with various local (Northern Ireland) prayer inits-atives remains healthy. Such connections bring information and encouragement for our own circle of support and we. in turn, are able to unite with and to encourage others. In 2022 we were also able to see a major refresh. re4esign and upgrade (as well as simplification) of our website. This has greatly eased our ability to keep the information and announcements up to date. Overall therefore, whilst activities have been positive. it has been difficult to quantify benefits since they have been mostly in the areas of encouragement and in building and maintaining relationships. Expenses this year were slightly higher than previous because of the recommencement of some physical meetings, but overall remain low compared with pre-covid times. This has meant that this year we have not needed to expend effort on fundraising and we finish the year with a respectable positive bank balance. We expect 2023 to have more in the way of expense as we travel and organise acts'vities across the island. In addition, we anticipate some expense as we organise a "Rivers. retreat in Bangor. Overall, we remain very conscious of the critical need for prayer for our communities in these days of rapid social change, of political uncertainty and increased world instability. Once again, much of our work this year has been encouraging and connecting with individual people and other prayer ministries both within Northern Ireland and also across the rest of the UK and the Republic of Ireland that have a heart for prayer and community transformations. We remain open to the counsel and advice from our Committee of Reference and look forward to the challenges ahead.
TRANSFORMATIONS IRELAND LIMITED IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Financial review a. Going concern After making appropriate enquiries. the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existen for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounts'ng policies. b. Reserves policy The Trustees assess the level of reserves on a continual basis to ensure that they are able to meet any commitments that could reasonably arise. It is the policy of the charitable company that unrestricted funds which have not been designated for specific use should be maintained at a level equivalent to six months operating expenditure. The Trustees believe that reserves at this level will ensure that, in the event of a significant drop in incoming resources, they will be able to continue the charity's core activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. c. Financial risk management objectives and policies The Trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks. d. Financial review The results for the year are set out in the attached financial statements. The results for the year and the financial position were considered satisfactory by the Trustees. Members. liability The Members of the Company guarantee to contribute an amount not exedIng £10 to the assets of the Company in the event of winding up.
TRANSFORMATIONS IRELAND LIMITED IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Statement of Trustees. responsibilities The Trustees (who are also the directors of the Company for the purposes of company lawl are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally ACpted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure. for that period. In preparing these financial statements. the Trustees are required to.. select suitsble accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP (FRS 102)" make judgments and accounting estimates that are reasonable and prudent., stste whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps ft)r the prevention and detects'on of fraud and other irregularities. Approved by order of the members of the board of Trustees on 21 June 2023 and signed on their behalf by.. Margaret Clarke (Trustee)