COMPANY REGISTRATION NUMBER." N1027659 CHARITY REGISTRATION NUMBER: NIC103433 The Churches. Training Company Ltd Company Limited by Guarantee Unaudited Financial Statements 31 March 2023 DONALDSON & THOMPSON Chartered Accountants 3 Limavady Road Londonderry BT47 6JU
The Churches. Training Company Ltd Company Limited by Guarantee Financial Statements Year ended 31 March 2023 Page Trustees, annual report (incorporating the directors, report) Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) statement of financial position Notes to the financial statements
The Churches. Training Company Ltd Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directors, Report) Year ended 31 March 2023 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2023. Reference and administrative details Registered charity name The Churches, Training Company Ltd Charity registration number NIC103433 Company registration number N1027659 Principal office and registered 121 Spencer Road offiGe Waterside DerrylLondonderry BT47 6AE The tNstees Mrs D Rudd- Chair Mr M Agnew Treasurer Mr B Bell Rev Fr M Canny Ms J Hetherington Rev P Linkens Mr D McGowan Mr J O'Kane Mr A Rowan Deacon M Skuce Rev Canon S R Boyd Rev C Jones (Retired 21 September 2023) (Retired 20 October 2022) (Appointed 20 October 2022) Member The Churthes, Trust Limited Chief Executlve Fiona Fagan Independent examiner Donaldson & Thompson Chartered Accountants 3 Limavady Road Londonderry BT47 6JU
The Churches, Training Company Ltd Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directors. Report) {eontlnuèdJ Year ended 31 March 2023 StruGtureg governance and management The organisation is a charitable company limited by guarantee, incorporated on 27th July 1993. accepted as a charity by HM Revenue & Customs under reference XR44841 and registered with the Charities Commission for Northem Ireland on 25th January 2016 under charity number 103433. The company was established under a Memorandum of Association which established the objects and powers of the charttable company and is govemed under tts Articles of Association. In the event of the company being woundup members are required to contribute an arnount not exceeding £5. The Directors are appointed by the Member Trustees of the charity's parent company, The Churches. Trust Limited, who are the leaders of the Church of Ireland. Methodist Church, Presbyterian Church. and Catholic Church in the North West area. Each Member Trustee appoints one clergy and two lay people to serve as Directors on the Board. The Diredors are responsible for the strategic direction. and the overall management and accountability of the organisation. The Board meet every six to eight weeks. Board membership is diverse in its representation across communities and has a broad skills and expertise base, including financial management, PR. Health & Safety and various Community & voluntsry sector roles. The Directors delegate responsibility for day-to-day operations to the Chief Executive and staff team. The Chief Executive provides direct line management for staff employed. The organisation has developed robust systems and procedures for monitoring and evaluating its work, primarily shaped by the reporting and accountabilty obligations defined by funding bodies, regulatory organisations and various stakeholders. These systems include mechanisms for ongoing review and evaluation and feed directly into reports to the Board of Directors, which include the following: Financial management (including monthly management accounts) Performance results against targets Stakeholder relationship development Regulatory, audit and compliance matters Policy and procedure development and approval New initiatives Human Resource and other organisational matters Project I service evaluation and review Objectlves and activities The charity's objects are lo advance education and to provide vocational training services in Northem Ireland and the Republic of Ireland... The charitable purposes of The Churches, Training Company Limited are= the advancement of education and vocational training and the prevention or relief of poverty in areas of social and economic deprivation, particularly among unemployed people, by addressing the lack of opportunity to develop skills and the low levels of training and education attainment, and by enhancing individuals, employment prospects. The charity's trustees have had regard to the Charity Commission for Northem Ireland's guidan on public benefit.
The Churches. Training Company Ltd Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directors. Report) (continued) Year ended 31 March 2023 Achievements and performance The primary activity of the company during the reporting period was the operation of Twice But Ni charity shop. Our Offi location and charity shop is situated near some of the mosl deprived wards in Northem Ireland. The shop generates income that supports some the charitable aims of the organisation. It is more importantly recognised as an unsung social service where people from all faith traditions come in to find support and friendship- for some their main social interacts-on ofthe day. We particularly recognise the support needs of older people who embrace the friendship offered by staff and volunteers in the shop. Financial review The results contained within the Statement of Financial Activities disclose Net Income of £23,035. Small company provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small Companies exemption. The trustees. annual report (incorporating the directors, report) was approved on 8 November 2023 and signed on behalf of the board of trustees by.. Mrs D Rudd - Chair Trustee rMA rustee Treasurer
The Churches, Training Company Ltd Company Limited by Guarantee Independent Examiner's Report to the Trustees of The Churches, Training Company Ltd Year ended 31 March 2023 I report on the financial statements for the year ended 31 March 2023, which comprise the statement of financial activities (including income and expenditure account), statement of financial position and the related notes. Respective responsibilities of trustees and examiner The charity's trustee5 (who are also the directors of the company forthe purposes of company law) are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. 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= examine the accounts under section 65 of the Charities Act- to follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act- and to state whether particular matters have come to my attention. Basis of Independent examinerfs report I have examined your charity account5 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 seclion 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented wtth those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees conceming any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe.. That accounting records were not kept in accordance wth section 386 of the Companies Act 2006 That the accounts do not accord with those accounting records That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the 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. That there is further infomiation needed for a proper understanding of the accounts to be reached.
The Churches. Training Company Ltd Company Limited by Guarantee Independent Examinerfs Report to the Trustees of The Churches, Training Company Ltd {¢ontInu) Year ended 31 March 2023 Independent examiner's statement I have completed my examination and have no COnM$ in respect of the matters (1) to {4) listed above and. in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawng to your attention. Donaldson & Thompson Chartered Accountants Independent Examiner 3 Limavady Road Londondery BT47 6JU 8 November 2023
The Churches. Training Company Ltd Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2023 2023 Unrestricted funds Total funds 2022 Total funds Income and endowments Other trading activities Total income 53,780 53,780 53.780 53,780 Expenditure Expenditure on raising funds.. Costs of other trading activities Expenditure on charitable activities Total expenditure 30,325 420 30,325 420 30,745 30.745 Net income and net movemont in funds 23,035 23,035 Reconciliation of funds Total funds brought fomard Total funds carried forward 23,035 23,035 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 8 to 12 fo part of these financial statements.
The Churches, Training Company Ltd Company Limited by Guarantee Statement of Financial Position 31 March 2023 2023 2022 Note Current assets Debtors 12 23.455 Creditors: amounts falling due within one year Net current assets 13 420 23,035 Total assets less current liabilities 23,035 Net assets 23,035 Funds of the charity Unrestricted funds 23,035 Total charity funds 15 23,035 For the year ending 31 March 2023 the charity was entitled to exemption from audit under section 477 ofthe Companies Act 2006 relating to small companies. Directors, responsibilities.. The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476., The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statements were approved by the board of tnjstees and aLrthorised for issue on 8 November 2023, and are signed on behalf of the board by: Mrs D Rudd- Chair Trustee Agn stee Treasurer Company registration number.. N1027659 The company is a private limited company limited by guarantee. registered in Norihern Ireland. The notes on pages 8 to 12 forni part of these financlal statements.
The Churches, Training Company Ltd Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2023 General infomiation The charity is a public benefit entity and a private company limited by guarantee, registered in Northem Ireland and a registered charty in Northem Ireland. The addiess of the registered office is 121 Spencer Road, Waterside, DerylLondonderry, BT47 6AE. statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charrties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of sub-classes.. restricted income funds or endowment funds.
The Churches, Training Company Ltd Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 Accounting policies (continued) Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity. it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unles5 there is a contractual requirement for it to be spent on a particular purpose and retumed if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expendtture categories reflecting the use of the resource. Direct costs attribLrtable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable. justifiable and consistent basis.
The Churches. Training Company Ltd Company Limited by Guarantee Notes to the Financial Statements (Continuedj Year ended 31 March 2023 Accounting policies {contlnuédJ Financial instruments A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised ost. Where investments in shares or preference shares are publicly traded or their fair value can otheiSe be measured reliably, the iniiestment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporiing date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Limited by guarantee The Churches, Training Company Itd is a company limited by guarantee and accordingly does not have a share capital. Every member of the company undertakes to contribute such amount as may be required not exceeding £5 to the assets of the charitable company in the event of its being wound up while he or she is a member, orwithin one year after he or she ceases to be a member. Other trading activitiès Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Shop income Employment subsidy 47,859 5,921 47,859 5,921 53,780 53,780 10
The Churches. Training Company Ltd Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 Costs of other trading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Costs of other trading activities - Shop costs 30,325 30,325 Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Support costs 420 420 Expenditure on charitable activities by activity type Support Total funds costs 2023 Total fund 2022 Governance costs 420 420 Independent examination fees 2023 2022 Fees payable to the independent examiner for: Independent examination of the financial statements 420 10. Stsff Costs The total staff costs and employee benefits for the reporting period are analysed as follows- 2023 2022 Wages and salaries Social security costs Employer contributions to pension plans 26,553 1.275 428 28,256 The average head count of employees during the year was 1 (2022= Nil). No employee received employee benefits of more than £60,000 during the year (2022.. Nil). 11. Trustee remuneration and expenses No remuneration or other benefits from employment with the charity or a related entty were received by the trustees. 11
The Churches, Training Company Ltd Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 12. Debtors 2023 2022 Amounts owed by group undertakings 23.455 13. Creditors: amounts falling due within one year 2023 2022 Accruals and deferred income 420 14. Pensions and other p05t retirement benefits Defined contribution plans The amount recognised in income or expenditure as an expense in relation to defined GontribLrtion plans was £428 (2022: £Nil). 15. Analysis of charitable funds Unrestricted funds At 1 Apr 2022 At Income Expenditure 31 Mar 2023 General funds 53,780 (30,745) 23,035 At 1 Apr2021 At Income Expenditure 31 Mar 2022 General funds 16. Analysis of net assets between funds Unrestricted Total Funds Funds 2023 Current assets Creditors greater than 1 year Net assets 23.455 (420) 23,035 23,455 {420) 23,035 Unrestricted Total Fund5 Funds 2022 Current assets Creditors greater than 1 year Net assets 12