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 COn￿M$ 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
othe￿iSe 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