COMPANY REGISTRATION NUMBER: N1027659 CHARITY REGISTRATION NUMBER.. NIC103433 The Churches, Training Company Ltd Company Limited by Guarantee Unaudited Financial Statements 31 March 2024 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 2024 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 2024 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 2024. Reference and adminlstrative details Reglstered charlty name The Churches, Training Company Ltd Charity registratlon number NIC103433 Company reglstratlon number N1027659 Prlnclpal offlce and reglstered 11 Limavady Road offSce Waterside DerrylLondonderry BT47 6JU The trustees Mrs D Rudd- Chair Mr M Agnew Treasurer Mr B Bell Rev Canon S R Boyd Rev Fr M Canny Ms J Helherington Rev C Jones Mrs J Miller Mr D McGowan Mr J O'Kane Mr A Rowan Deacon M Skuce (Retired 21 September 2023) Member The Churches, Trust Limited Chief Executlve Mary Holmes Independent examlner Donaldson & Thomp50n Charlered Accountants 3 Limavady Road Londonderry BT47 6JU
The Churches, Training Company Ltd Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directors, Report) Iconilnuedj Year ended 31 March 2024 Structure* governanGe and management The organisalion is a charitable company limited by guarantee. incorporaled on 27th July 1993, accepted as a charity by HM Revenue & Customs under reference XR44841 and registered with the Charities Commission for Northern Ireland on 251h January 2016 under charily number 103433. The company was established under a Memorandum of Association which established the objects and power5 of the charitable company and is governed under ils Articles of Association. In the evenl of the company being wound up members are required lo contribute an amount not exceeding £5. The Directors are appointed by the Member Trustees of the charity's parenl 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 Ihe Board. The Directors are responsible for the strategic direction. and the overall management and accountabillty of the organisalion. The Board meel every six to eight weeks. Board membership is diverse in its representation across communities and has a broad skills and expertise base, induding financial management, PR, Health & Safety and various community & voluntary sector roles. The Director5 delegale responsibility for day-lo-day operations lo 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 ils work, primarily shaped by the reporting and accountabilily obligations defined by funding bodies, regulatory organisalions and various stakeholders. These systems include mechanisms for ongoing review and evaluation and feed directly into reports to the Board of Directors. whlch include the following.. Flnancial management {including monthly management accounts) Performance results against largels Stakeholder relationship development Regulatory, audit and compliance matters Policy and procedure development and approval New initiatives Human Resource and other organisalional matters Project I service evaluation and review Objectives and actlvitles The charity's objects are 'lo advance education and to provide vocational Iraining services in Northern Ireland and the Republic of Ireland... The charitable purposes of The Churches, Training Conipany Limited are.. the advanMent 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 Iraining and education attainment. and by enhancing Individuals, employment prospecls. The charity's trustees have had regard to the Charity Commission for Northern Ireland's guidance on public benefit.
The Churches, Training Company Ltd Company Limited by Guarantee Trustees, Annual Report (Incorporatlng the Dlrectors. Report) fconllftued) Year ended 31 March 2024 A¢hlevements and perfomiance The primary activity of Ihe company during the reporting period was Ihe operation of Twice Bul Nice charity shop. Our office location and charity shop is situated near some of the most deprived wards in Northern Ireland. The shop generales 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 lo find support and friendship - for some their main social interaction of the day. We particularly recognise the support needs of older people who embrace Ihe friendship offered by staff and volunteers in the shop. FinanGlal revlew The resulls contained within the Statement of Financial Activilies disclose a Net deficil for the year of £22,486, Small company provlslons This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The trustees, annual report lincorporaling the directors, report> was approved on 17 Oclober 2024 and signed on behalf of the board of Irustees by.. Mrs D Rudd- Chair Trustee MAgn ustee Treasurer
The Churches. Training Company Ltd Company Llmited by Guarantee Independent Examiner's Report to the Trustees of The Churches, Training Company Ltd Year ended 31 March 2024 I report on the financial slalemenls for the year ended 31 March 2024, which comprise the slalement of rinancial activities (including income and expenditure account), slalemenl of financial posltion and the related notes. Respectlve responsibilitle5 of trustees and examiner The charity's truslees {who are also the directors of the company for Ihe purposes of company law} are respoiisible for the preparation of the accounts in accordance with the requirements of the Conipanies Acl 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 Acl.. to follow the procedures laid down in the general Diredions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. and lo slate whether particular matters have come to my attention. Basls of Independent examlner'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(91(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 with those records,11 also included consideration of any unusual items or disclosures in the accounts. and seeking explanations from the trustees concerning any such matters. My role is lo slate whether any material matters have come to my attenlion giving me cause to believe.. That accounting records were not kept in accordance wilh seclion 386 of the Companies Act 2006 That the accounts do not accord with those a¢¢ounting records That the accounts do nol 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 Iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland. That there Is further information needed for a proper understanding of the accounts to be reached.
The Churches. Training Company Ltd Company Limited by Guarantee Independent Examiner's Report to the Trustees of The Churches, Training Company Ltd (continued) Year ended 31 March 2024 Independent examSner's statement I have completed my examination and have no concems in respect of the matters (11 to (4) listed above and, in connection with following the Directions of Ihe Charily Commission for Northern Ireland, I have found no matters that require drawing to YOUT altenlion. Donaldson & Thompson Chartered Accounlanls Independenl Examiner 3 Llmavady Road Londonderry BT47 6JU 17 October 2024
The Churches, Training Company Ltd Company Limited by Guarantee statement of Financial Activities (including income and expenditure account) Year ended 31 March 2024 2024 Unreslricted funds Total funds Total funds 2023 Note Income and endowments Other trading activities Total Income 52,720 52,720 53,780 52,720 S2,720 53,780 Expendlture Expenditure on raising funds-. Costs of other trading activities Expendilure on charitable activities Total expendlture 29,786 45.420 29,786 45,420 30,325 420 75,206 75,206 30,745 Net lexpendlture)1Sncome and net movement In fund5 (22,486) (22,486) 23,035 Reconclllatlon of funds Total funds brought fOard Total funds Garrled forward 23,035 23,035 549 549 23,D35 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 13 lorm part of these flnanclal 8tatement¥.
The Churches. Training Company Ltd Company Limited by Guarantee Statement of Financial Position 31 March 2024 2024 2023 Not• Current assets Debtors 12 969 23,455 Creditorn: amounts falllng due wlthln one year Net current assets 13 420 420 549 23,035 Total assets less current liabillties 549 23,035 Net assets 549 23,035 Funds of Ihe charfty Unrestricted funds 549 23,035 Total charlty funds 15 549 23,035 For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating lo small companie5. 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 direclors acknowledge Iheir responsibilities for complying wlh the requirements of the Act with respect to accounting records and the preparation of financial slatements. These financial statements have been prepared in accordance with the provisions applicable to companies subiecl to the small companies, regime. These financial statements were approved by the board of trustees and authorised for Issue on 17 October 2024, and are signed on behalf of the board by., Mrs O Rudd- Chair Trustee rMAg rustee Treasurer Company registration number- N1027659 The company is a private lirnSted company limited by guarantee, registered in Northern Ireland. The note5 on pages 8 to 13 fomi part of these flnanclal Statement$.
The Churches. Training Company Ltd Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2024 General Informatlon The charity is a public benefit entity and 8 privale company limited by guaranlee, reglstered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered off ice is 11 Limavady Road. Waterside, DerrylLondonderry. BT47 6JU. Statement of compllance 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 Slaleirenl of Recommended Practice applicable lo charities preparing Iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 {Charilies SORP {FRS 102)) and the Companies Act 2006, Accountlng pollcles Basls of preparatlon The financial statements have been prepared on the historical cost basis, as modified by Ihe revaluation of certain financial assels and liabilities and investment properties measured at fair value through income or expenditure. The financial slatements are prepared in sterling. which is Ihe functional currency of the entity. Golng concern There are no malerial uncertainties about the charity's ability to conlinue. Fund accountlng Unrestricted funds are available for use al the discretion of the Irustees to further any of Ihe charity's purposes. Designated funds are unrestricted funds eamiarked by ihe truslees for particular future project or commitment. Restricted funds are subjecled lo reslriclions on their expendilure declared by the donor or through the lerms of an appeal, and fall into one of Iwo sub-classes.. reslrlcted income funds or endowment funds.
The Churches. Training Company Ltd Company Limited by Guarantee Notes to the Financial Statements (conilnuedj Year ended 31 March 2024 Accountlng pollGles (¢ontinued) Incomlng resource8 All incoming resources are induded in the stalement of financial aclivilies when entitlement has passed to the charity., il 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 of grants Is recognised when there is evidence of enlitlement to the gift. receipt is probable and Its amount can be measured reliably. legacy income is recognised when receipt Is probable and enlitlement Is eslablished. income from donated goods 18 measured al the fair value of the goods unless this is impractical to measure reliably, in thich case Ihe 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 fiinds unless there is a conlractual requirement for il to be spent on a parts'cular purpose and retumed if unspent, in which case il may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expendilure 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 ralslng funds includes the cosls of all fundraisin9 aclivilies, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable acts'vities includes all cosls incurred by a charity in undertaking aclivilies that further ils charitable aims for the benefit of its beneficiaries. including those support costs and costs relating lo the governance of the charity apportioned to charitable activities. other expendilure includes all expenditure thal is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocaled to expenditure categories reflecting Ihe use of the resource. Direct costs attributable to a single activity are allocaled directly to Ihat activity. Shared costs are apportioned between the activitie5 Ihey contribute to on a reasonable, justifiable and consistent basis.
The Churches. Training Company Ltd Company Limited by Guarantee Notes to the Flnanclal Statements (ronlinuedj Year ended 31 March 2024 Accountlng pollcles (con¢inuedJ Flnanclal Instrumenls A financial asset or a financial liability is recognised only vthen the enlily becornes a party lo Ihe contractual provisions of the inslrumenl. Basic financial instruments are Inilially recognised at the amount receivable or payable including any relaled Iransaction costs, unless Ihe arrangemenl con51ilute5 a financing transaction, where it is recognised al the present value of the future P8ymenls discounted at a market rale of interest for a similar debt instrument. Current assels and current liabilities are subsequently measured at the cash or other consideralion expected to be paid or received and not discounted. Debt instruments are subsequently measured al amortised cost, Where Investments in shares or preference shares are publicly traded or their fair value can olheTwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured al cost less impairment. Deflned contrlbutlon plans Contributions to defined contribution plans are recognised as an expense in the period in which Ihe related service is provided. Prepaid contributions are recognised as an asset to the extenl that the prepayment will lead to a reduction in future payments or a cash refund. en contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding oflhe discounl is recognised as an expense in the period in which it arises. Llmltad 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 underlakes to conlribule such amount as may be required not exceeding £5 to the a55ets of the charitable company In the event of ils being wound up while he or she is a member, or within one year after he or she ceases to be a member. Other trdding aGtlvltle8 Unreslricled Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Shop income Employment subsidy 51,052 1,668 51,052 1,668 47,859 5,921 47.859 5,921 52.720 52,720 53,780 53,780 10
The Churches, Training Company Ltd Company Limited by Guarantee Notes to the Financial Statements (conllnued) Year ended 31 March 2024 Costs of other trading aGtlvitles Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Costs of other trading activities - Shop cos15 29,786 29,786 30,325 30,325 Expendlture on charltable actlvltles by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Other charitable activities Supporl costs 45.000 420 46,000 420 420 420 45,420 45,420 420 420 Expendlture on charltable actlvltles by activity type Grant funding of activities Support Total funds costs 2024 Total fund 2023 Other charitable activities Governance costs 45,000 46,000 420 420 420 45,000 420 45,420 420 Independent examination fees 2024 2023 Fees payable to Ihe independent examiner for= Independent examination of Ihe financial statements 420 420 10. Staff costs The total staff costs and employee benefils for the reporting period are analysed as follows.. 2024 2023 Wages and salarles Social security costs Employer contributions to pension plans 24,873 1,409 506 26.553 1,275 428 26,788 28,256 The average head count of employees during the year was 1 (2023.. 1). No employee received employee benefits of more than £60,000 during the year (2023.. Nill. 11
The Churches. Training Company Ltd Company Limited by Guarantee Notes to the Financlal Statements (¢ontinued) Year ended 31 March 2024 11. Trustee remuneratlon and expenses No remuneration or other benefits from employment wth the ch8rily or a related entity were received by the trustees. 12. Debtor8 2024 2023 Amounts owed by group undertakings 969 23,455 13. Credltors: amounts lalllng due wlthln one year 2024 2023 Accruals and deferred income 420 420 14. Penslons and other post retirement beneflts Deflned contrlbutlon plans The amount recognised in income or expenditure as an expense in relation lo defined contribution plans was £506 (2023.. £428>. 16. Analysls of charftable funds Unrestrlcted funds At 1 Apr 2023 At Income Expenditure 31 Mar 2024 General funds 23,035 52,720 (75,206) 549 At 1 Apr 2022 At Income Expenditure 31 Mar 2023 General funds 53.780 (30,745> 23,035 12
The Churches, Training Company Ltd Company Limited by Guarantee Notes to the Flnanclal Statements (conllnuedj Year ended 31 March 2024 16. Analys58 of net assets between funds Unreslncted Total Funds Funds 2024 Current assets Creditors grealer than 1 year Net assets 969 (4201 549 969 14201 649 Unrestrtcted Total Fund5 Funds 2023 Cuirenl assets Creditors grealer than 1 year Net assets 23,455 14201 23,035 23,455 1420) 23,035 17. Related partles During the year ended 31st March 2024 the charity made a donation of£45.000 to The Churches, Trust Limited. The Churches. Trust Limited is the 501e member of The Churches, Training Company Ltd, 13