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 advan￿Ment 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 fO￿ard
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