OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-03-31-accounts

Charity registration number NIC103291

Company registration number NI031262 (Northern Ireland)

CHRISTIAN COMMUNICATIONS NETWORK (EUROPE) LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

CHRISTIAN COMMUNICATIONS NETWORK (EUROPE) LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Dr C H Stewart Mr P Stewart Dr H A Odeyinka Secretary Ms G E Todd Charity number NIC103291 Company number NI031262 Principal address 468 Shore Road Whiteabbey Co Antrim BT37 0AB Registered office Alfred House 19 Alfred Street Belfast BT2 8EQ Independent examiner GMcG BELFAST Chartered Accountants & Statutory Auditor Alfred House 19 Alfred Street Belfast BT2 8EQ Bankers Ulster Bank Limited Connswater Arches Retail Park Belfast BT5 4AF Solicitors Hool Law 15 - 17 Chichester Street Belfast BT1 4JB

CHRISTIAN COMMUNICATIONS NETWORK (EUROPE) LIMITED

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3 - 4
Statement of financial activities 5
Balance sheet 6 - 7
Notes to the financial statements 8 - 18

CHRISTIAN COMMUNICATIONS NETWORK (EUROPE) LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2023

The trustees present their annual report and financial statements for the year ended 31 March 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

The principle objective of the charity is to propagate the Christian gospel. This objective is achieved through the organisation of outreach events and through the publishing, production and dissemination of biblical literature and broadcast material.

The Trustees have taken cognisance of the Charity Commission for Northern Ireland's guidance on public benefit as defined in the Charities Act (Northern Ireland) 2008. The public benefit requirements are met through the advancement of religion by advancing the Christian Gospel message locally and worldwide by the publication, production and dissemination of biblical literature, CDs, DVDs and broadcast material by sale or gift either singly or in association with other compatible bodies. The direct benefits which flow from the proclamation of the Christian gospel message of God's love and grace is to bring hope and salvation to the readers, listeners and viewers. These benefits are demonstrated through feedback and testimonies from service users and regular assessment of the materials, publication and broadcasts being provided. The charity's beneficiaries are the general public, locally and worldwide. We do not believe there are any harms flowing from the purpose.

In 2010 the charity focused on Belfast to reach, rescue and restore the hurting and broken society; to be part of the collaborative effort to positively impact issues of moral decay, substance abuse, hunger, healthcare, homelessness and poverty, violence and division in the city and beyond; and to contribute to honour the work already being undertaken to meet the physical, spiritual, and long-term needs of the people of Belfast in The Name of Jesus Christ.

Achievements and performance

During the year the charity continued to produce and publish biblical literature and broadcast material, and a number of successful conferences and events were held. In 2020 CCN acquired a new facility which provides office, conference centre and television studio facilities.

Financial review

The charity's financial results are set out in detail on pages 5 to 18. The income of the charity is mainly from gifts and donations and during the year it relied on existing reserves to further its charitable objectives. The results for the year show net expenditure of £92,643 (2022 - £89,989). The charity has no restricted funds.

At 31 March 2023, the total funds of the charity amounted to £1,480,133 (2022 - £1,572,776), which entirely represents unrestricted funds.

The trustees consider that the charity should maintain free reserves at a level which is sufficient to cover overheads and administrative costs for a period of at least twelve months. At 31 March 2023 the charity had free reserves of £95,358 (2022 - £235,221).

CHRISTIAN COMMUNICATIONS NETWORK (EUROPE) LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 StruGturOp gov•manca and managemant The charity was establlshed und8r a Memorandum of Assodatlon véhlch established the obj8Ct8 and powers of the company and is governed under its Articles of Assoclallon. Ch￿StIan CommunlGatK)ns Network (Europ8) Limited Is a charitable company limited by guarantee and does nol have a share caplL21. The charity is managed on a daY-tO￿aY basls by Dr C H Stew8rt, truste8. The Board of Trust88s Is responsible for recruiting and appotnting new truslees. New trustees are brlefed on Ihelr responsibiliti8s wh8n appointed and all necessary training Is provided. The trustees have assessed the malor rlsks to whlch the charity is expoged and havè estsblished 8yStem8 and procedures lo manage those risks accordingly. The trustees, who are also the dlredor8 for Ihe purpose of company law. and who 8•Ned durlng the y8ar and up to the date of slgnature of the financial statement8 were; Dr C H Stewart Mrs E Stewart Mr P Stewart Dr H A Od8yinka (Deceased 24 November 2023) The trustees conlinue to pursue opportunities to hold evangelfcal outreach e￿nts. In preparing thbs report. the directors have taken advantag8 of the small companies exemptions provlded by section 415A of Ihe Companies Act 2006, Charfty Reglstratlon Number.. NIC103291 Company R8gl6lratlon Number: N1031262 Dr C H Sl•wart Trustee Dated.. .%.!..l.J.k.l LS

CHRISTIAN COMMUNICATIONS NETWORK (EUROPE) LIMITED

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF CHRISTIAN COMMUNICATIONS NETWORK (EUROPE) LIMITED

I report to the trustees on my examination of the financial statements of Christian Communications Network (Europe) Limited (the charity) for the year ended 31 March 2023.

Responsibilities of charity trustees and examiner

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the charity is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner's report

I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act.

My examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters.

My role is to state whether any material matters have come to my attention giving me cause to believe:

CHRISTIAN COMMUNICATIONS NETWORK (EUROPE) LIMITED INDEPENDENT EXAMINER'S REPORT (CONTINUED) TO THE TRUSTEES OF CHRISTIAN COMMUNICATIONS NETWORK (EUROPE> LIMITED Indopendent examlnerfs statement I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to bere igel M GMCG BELFA FC Chartered Accountants & Statutory Auditor Alfred House 19 Alfred Streel Balfast BT2 8EQ Dated.. 21 December 2023

CHRISTIAN COMMUNICATIONS NETWORK (EUROPE) LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted Unrestricted Unrestricted Unrestricted
funds funds
2023 2022
Notes £ £
Income and endowments from:
Donations and legacies 3 24,701 33,182
Investments 4 57,332 39,243
Other income 5 7,692 -
Total income 89,725 72,425
Expenditure on:
Charitable activities 6 182,368 162,414
Net expenditure for the year/
Net movement in funds (92,643) (89,989)
Fund balances at 1 April 2022 1,572,776 1,662,765
Fund balances at 31 March 2023 1,480,133 1,572,776

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

CHRISTIAN COMMUNICATIONS NETWORK (EUROPE) LIMITED

BALANCE SHEET

AS AT 31 MARCH 2023

Notes
Fixed assets
Tangible assets
12
Investment properties
13
Investments
14
Current assets
Stocks
15
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within
one year
17
Net current assets
Total assets less current liabilities		 2023
£
£
674,540
710,234
1
1,384,775
508
24,579
76,884
101,971
(6,613)
95,358
1,480,133		 2022
£
£
692,538
645,016
1
1,337,555
614
13,911
230,670
245,195
(9,974)
235,221
1,572,776		 2022
£
£
692,538
645,016
1
1,337,555
614
13,911
230,670
245,195
(9,974)
235,221
1,572,776
1,337,555
235,221
1,572,776

CHRISTIAN COMMUNICATIONS NETWORK (EUROPE) LIMITED BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2023 2023 2022 Notes Income funds Unrestrlcted funds 1,480.133 1.572,776 1.480,133 1.572,776 The company Is entitled to the 8xemptiM from the audit requlrement ￿ntaIned ift s8Lak)n 477 of the Companles Act 2006. for the year endad 31 March 2023. No members have requlred the company to obtaln an audlt of Ils flnancial st818ments for the year In question In accordanc• wtth s8Ctlon 476 of the Companles Act 2006. The directors 8cknowl8d98 thelr responsibilitles for complying wlth the requlrem8nts of the Companles Act 2006 with respect to accountlng records and the pr8par81ion of financi81 ststements. The members have not required the company to obtaln an audit of Its financl818tatement8 for the year In questlon In aGcordance wllh section 478. These finandal statements have been prepared in accordance with the provlslons appllcable to companies Subleci to the small companies regime. The finarKlal statements were 8pprovod by the Trustees on ..a.i..l.i.i.l.L) Dr C H Stewart Tru8te• Company R•g18trallon No. N1031262

CHRISTIAN COMMUNICATIONS NETWORK (EUROPE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

Charity information

Christian Communications Network (Europe) Limited is a private company limited by guarantee incorporated in Northern Ireland. The registered office is Alfred House, 19 Alfred Street, Belfast, BT2 8EQ.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

CHRISTIAN COMMUNICATIONS NETWORK (EUROPE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies (Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.

Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities and Governance costs are costs incurred on the charity's educational operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.

All expenditure is inclusive of irrecoverable VAT.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 2% straight line Fixtures and fittings 25% straight line Motor vehicles 25% straight line

1.7 Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

CHRISTIAN COMMUNICATIONS NETWORK (EUROPE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies (Continued)

1.8 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.9 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.10 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.11 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.12 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

CHRISTIAN COMMUNICATIONS NETWORK (EUROPE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies (Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.13 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Fixed Assets - The annual depreciation charge on fixed assets depends primarily on the estimated lives of each type of asset and estimates of residual values. The directors regularly review these asset lives and change them as necessary to reflect current thinking on remaining lives in light of prospective economic utilisation and physical condition of the assets concerned. Changes in asset lives can have a significant impact on depreciation charges for the period. Details of the useful lives is included in the accounting policies above.

Investment Property - The trustee made key assumptions in the determination of the fair value of an investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset.

Debtors - Short term debtors are measured at transaction price, less any impairment. Impairment of such debtors involves some estimation uncertainty.

CHRISTIAN COMMUNICATIONS NETWORK (EUROPE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

3 Donations and legacies
**Unrestricted ** Unrestricted
funds funds
2023 2022
£ £
Donations and gifts 24,701 33,182
4 Investments
**Unrestricted ** Unrestricted
funds funds
2023 2022
£ £
Rental income 56,867 39,216
Bank interest 465 27
57,332 39,243
5 Other income
Unrestricted Total
funds
2023 2022
£ £
Management income 7,692 -

CHRISTIAN COMMUNICATIONS NETWORK (EUROPE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

6 Charitable activities

Staff costs
Pension Costs
Accommodation
Production and broadcasting costs
Computer costs
Printing, postage and stationery
Miscellaneous expenses
Travel and hospitality
Subscriptions
Events expenditure
Books and tapes for resale
Gifts
Bank charges
Telephone
Other charitable expenditure
Share of support costs (see note 7)
Share of governance costs (see note 7)		 2023
£
5,837
3
1,641
18,583
2,852
1,474
1,970
714
2,686
-
106
17,207
854
2,732
46
56,705
123,023
2,640
182,368		 2022
£
5,456
3
1,252
17,417
1,402
4,491
2,952
695
2,043
1,249
19
9,753
638
2,702
96
50,168
109,340
2,906
162,414

CHRISTIAN COMMUNICATIONS NETWORK (EUROPE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

7
Support costs
Support
costs
Governance
costs
£
£
Staff costs
59,333
-
Depreciation
19,213
-
Heat and light
14,710
-
Repairs and
maintenance
9,791
-
Rates
6,279
-
Insurance
6,372
-
Legal and professional
7,146
-
Secretarial Support
179
-
Accountancy
-
2,640
123,023
2,640
Analysed between
Charitable activities
123,023
2,640
8
Net movement in funds
Net movement in funds is stated after charging/(crediting)
Depreciation of owned tangible fixed assets		 2023
£
59,333
19,213
14,710
9,791
6,279
6,372
7,146
179
2,640
125,663
125,663		 Support
costs
Governance
costs
£
£
58,100
-
18,652
-
11,017
-
8,825
-
7,756
-
4,574
-
282
-
134
-
-
2,906
109,340
2,906
109,340
2,906
2023
£
19,213		 2022
£
58,100
18,652
11,017
8,825
7,756
4,574
282
134
2,906
112,246
112,246
2022
£
18,652

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

CHRISTIAN COMMUNICATIONS NETWORK (EUROPE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

10 Employees

The average monthly number employees during the year was:

2023 2022
Number Number
3 3
Employment costs 2023 2022
£ £
Wages and salaries 64,644 62,710
Social security costs 526 846
65,170 63,556

No employee received remuneration amounting to more than £60,000 in either year.

The key management personnel of the charity are considered to be the trustees. No remuneration was paid to key management personnel in the current or prior year.

11 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

CHRISTIAN COMMUNICATIONS NETWORK (EUROPE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

12
Tangible fixed assets
Freehold land
and buildings
Fixtures and
fittings
Motor vehicles
£
£
£
Cost
At 1 April 2022
701,285
31,270
8,000
Additions
-
1,215
-
Disposals
-
(828)
-
Transfer
-
(4,799)
-
At 31 March 2023
701,285
26,858
8,000
Depreciation and impairment
At 1 April 2022
21,039
20,645
6,333
Depreciation charged in the year
14,026
3,520
1,667
Eliminated in respect of disposals
-
(828)
-
Transfer
-
(4,799)
-
At 31 March 2023
35,065
18,538
8,000
Carrying amount
At 31 March 2023
666,220
8,320
-
At 31 March 2022
680,246
10,625
1,667
13
Investment property
Fair value
At 1 April 2022
Additions through external acquisition
At 31 March 2023		 Total
£
740,555
1,215
(828)
(4,799)
736,143
48,017
19,213
(828)
(4,799)
61,603
674,540
692,538
2023
£
645,016
65,218
710,234

The 2023 valuations were made by the trustees, on an open market value for existing use basis.

14 Fixed asset investments

Other
investments
Cost or valuation
At 1 April 2022 & 31 March 2023 1
Carrying amount
At 31 March 2023 1
At 31 March 2022 1

CHRISTIAN COMMUNICATIONS NETWORK (EUROPE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

14
Fixed asset investments (Continued)
Other investments comprise:
Notes
Investments in subsidiaries
19
15
Stocks
Finished goods and goods for resale
16
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
17
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Accruals and deferred income		 2023
£
1
2023
£
508
2023
£
19,491
5,088
24,579
2023
£
1,344
938
4,331
6,613		 2022
£
1
2022
£
614
2022
£
7,500
6,411
13,911
2022
£
1,118
2,799
6,057
9,974

18 Related party transactions

At 31 March 2023 Willowbrook Private Healthcare Limited, a subsidiary company, owed the charity £536,523 (2022 - £536,523) in relation to monies advanced in prior years. This charity has made a provision of £536,523 (2022 - £536,523) against this balance.

CHRISTIAN COMMUNICATIONS NETWORK (EUROPE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

19 Subsidiaries

Details of the charity's subsidiaries at 31 March 2023 are as follows:

Name of undertaking Registered Nature of business Class of % Held
office shares held Direct Indirect
Willowbrook Private Northern Ireland Property Development Ordinary 100.00
Healthcare Limited Shares

The aggregate capital and reserves and the result for the year of subsidiaries excluded from consolidation was as follows:

Name of undertaking Profit/(Loss) Capital and
Reserves
£ £
Willowbrook Private
Healthcare Limited - (537,123)