COMPANY REGISTRATION NUMBER: N1027659 CHARITY REGISTRATION NUMBER: NIC103433 The Churches, Training Company Ltd Company Limited by Guarantee Unaudited Financial Statements 31 March 2025 DONALDSON & THOMPSON Chartered Accountants 3 Limavady Road Londonderry BT47 6JU
The Churches, Training Company Ltd Company Limited by Guarantee Financlal Statements Year ended 31 March 2025 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 Llmlted by Guarantee Trustees. Annual Report (Incorporating the Directors, Report> Year ended 31 March 2025 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 2025. Reference and administrative detalls Reglstered charity name The Churches, Training Company Ltd Charlty registration number NIC103433 Company reglstration number N1027659 Prlnclpal offlce and reglstered 11 Limavady Road offlce Waterside DerrylLondonderry BT47 6JU The trustees Mrs D Rudd- Chair Mr M Agnew - Treasurer 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 Mr T Hume (Appointed 14 November 2024) Member The Churches, Trust Limited Chlef Executive Mary Holmes Independent examlner Donaldson & Thompson Chartered Accountants 3 Limavady Road Londonderry 8T47 6JU
The Churches, Training Company Ltd Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directors. Report) (contlnued) Year ended 31 March 2025 Structure, 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 Northern 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 charitable company and is governed under its Articles of Association. In the event of the company being woundup members are required to contribute an amount 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, Presbyierian Church, and Catholic Church in the North West area. Each Member Trustee appoints one clergy and 0 lay people to serve as Directors on the Board. The Directors 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 & voluntary sector roles. The Directors delegate responsibiliiy 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 Monitorng and evaluating its work, primarily shaped by the reporting and accountability obligations defined by funding bodies, regulatory organisations and various stakeholders. These systems include mechanisms for ongoing review and evaluation and feed directly into reports lo the Board of Directors, which include the following.. Financial management (including monthly management accounts) Performance results against targets Stakeholder relaticnship 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 actlvities The charity's objects are 'to advance education and to provide vocational training services in Northern 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 Northern Ireland's guidance on public benefit.
The Churches, Training Company Ltd Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directors, Report) (continued) Year ended 31 March 2025 Achievements and perfomiance The primary activity of the company during the reporting period was the operation of Twice But Nice charity shop. Our office location and charity shop is situated near some of the rnost 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 to find suppart and friendship - for some their main social interaction of the day. We We particularly recognise the support needs of older people who embrace the friendship offered by staff and volLJnteÈrs in the shop. Financlal revlew The results contained within the Statement of Financial Activlties disclose a Net surplus for the year of £2,902. Small company provlsions 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 25 September 2025 and signed on behalf of the board of trustees by: Mfs D Rudd - Chair Trustee Tre er ustee
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 2025 I report on the financial statements for the year ended 31 March 2025, which comprise the statement of financial activities (including income and expenditure account), statement of financial position and the related notes. Respectlve responsibilitles of trustees and examiner The charity's trustees (who are also the directors of the company for the 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 6519){bl of the Charities Act., and to State ether particular matters have come lo my attention. Basls of Independent examinerfg 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 section 6519){bl of the Charities Act. The examinatlon IllGluded 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 explanation5 from the trustees concerning any such matter5. 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 wtth 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 lo charities preparing their account5 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 acccunls 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 (contiftuedj Year ended 31 March 2025 Independent examlner's statement I have completed my examination and have no concerns in respect of the matters (1) to 14) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. Donaldson & Thompson Chartered Accountants Independent Examiner 3 Limavady Road Londonderry BT47 6JU 25th September 2025
The Churches. Training Company Ltd Company Llmited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2025 2025 Unrestricted funds Total funds Total funds 2024 Note Income and endowments Charitable activities other trading activities Total Income 500 41,857 42,357 600 41,857 42,367 52,720 52,720 Expendltur8 Expenditure on raising funds.. Costs of other trading activities Expenditure on charitable activities Total expendlture 37,117 2,338 39.455 37,117 2,338 39,455 29,786 45,420 75,206 Net Incomel{expenditurg1 and net movement In funds 2,902 2,902 122,486) Reconciliation of funds Total funds brought forward Total funds carried forward 549 549 23,035 3,451 3,451 549 The statement of financial actlvlties includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 8 to 13 form part of these financial ¥tatements.
The Churches, Training Company Ltd Company Limited by Guarantee Statement of Financial Position 31 March 2026 2025 2024 Note Current assets Debtors 13 3,991 969 Credltors: amounts falling due wlthln one year Net current assets 14 540 420 3.4S1 549 Total assets less current Ilabllities 3,451 3,451 549 Net assets 549 Funds of the charlty Unrestricted funds 3,451 3,451 549 Total charlty funds 16 549 For the year ending 31 March 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companles. 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 complwng with the requirements of the Act with respect to accounting records and the preparation of financial staternents. These financial statements have been prepared in accordance with the provisions applicable lo companies subject ta the small companies, regime. These financial statements were approved by the board of trustees and authorised for issue on 25 September 2025, and are signed on behalf of Ihe board by.. Mrs D Rudd - Chair Trustee Agne ustee Tre Company registration number: N1027659 The company is a private limited company limited by guarantee, registered in Northern Ireland. The notes on pages 8 to 13 form part of these flnancial statements.
The Churches. Training Company Ltd Company Llmited by Guarantee Notes to the Financial Statements Year ended 31 March 2025 Gen8ral informatlon The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northem Ireland. The address of the registered office 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 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) (Charities SORP (FRS 102)) and the Companies Act 2006. Accountlng pollcles Basis of preparatlon 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, lch 15 the functional currency of the entity. Golng 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 charitys purposes. Designated funds are unrestricted funds eamiarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expendlture 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 2025 Accounting policies (continued) Incomlng 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 lo particular categories of income.. income from donations or granls is recognised when there is evidence of enlillement 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 falr 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 volunteer5. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is reccgnised 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 Ihe govemance of the charity apportioned lo 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 expendilure categories reflecting the use of the resource. Direct costs attributable lo 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 Llmited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 Accountlng policies (contlnuedj Financlal 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 instrLbments 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 al 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 C05t. Where investments in shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value wth changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Deflned contrlbutlon plans Contributions to defined ccntribution plans are recognised a5 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 reporting dale in which the employees render the related service, the liability is measured on discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Llmlted by guarantee The Churches, Training Company Itd is a company limited by guarantee and accordingly does not have a share capital. Every member af 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, or within one year after he or she ceases to be a member. Charltable activities Unrestricted Total Fu nds Unrestricted Total Funds Funds 2025 Funds 2024 Other income from charitable aclivities 500 500 Other tradlng activltles Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Shop income Employment subsidy 36,548 5,309 36.548 5,309 51,052 1,668 52,720 51,052 1,668 41,857 41,857 52,720 10-
The Churches, Training Company Ltd Company Limited by Guarantee Notes to the Financial Statements fcontinued) Year ended 31 March 2025 Costs of other trading activltles Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Costs of other trading activities - Shop costs 37,117 37,117 29,786 29,786 Expenditure on charltable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Other charitable activities Support costs 1,603 735 1,603 735 45,000 420 45,000 420 2,338 2,338 45,420 45,420 Expendlture on charltabl8 actlvltles by activity type Activities undertaken directly Support costs Total funds 2025 Total fund 2024 Other charitable activities Governance costs 1.603 1,603 735 45,000 420 735 1,603 735 2,338 45,420 10. Independent examlnation fees 2026 2024 Fees payable lo the independent examiner for.. Independent examination of the financial statements 540 420 11. Staff costs The total staff costs and employee benefits for the reporting period are analysed as lollows.. 2026 2024 Wages and salaries Social security costs Employer contributions to pension plans 31,961 1,889 656 24,873 1,409 506 34,506 26,788 The average head count of employees during the year was 2 (2024.. 11. No employee received employee benefits of more than £60,000 during the year (2024= Nil). 11
The Churches, Training Company Ltd Company Limited by Guarantee Notes to the Financial Statements f¢onlnu8d) Year ended 31 March 2025 12. Trustee remuneration and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. 13. Debtors 2025 2024 Amounts owed by group undertakings 3,991 969 14. Creditors: amounts falllng due withln one year 2025 2024 Accruals ané deferred income 540 420 16. Penslons and other post retlrernent benefft$ Defined contrlbution plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £65612024.. £5061. 16. Analysls of charltabl• funds Unrestricted funds At Income Expenditure 31 Mar 2025 At 1 Apr 2024 General funds 549 42,357 139,455) 3,4S1 At Income Expenditure 31 Mar 2024 At 1 Apr 2023 General funds 23,035 52,720 175,206) 549 12-
The Churches, Training Company Ltd Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 17. Analysis of net assets between funds Unrestricted Total Funds Funds 2025 Current assets Creditors less than 1 year Net assets 3,991 (540) 3,451 3,991 1540) 3,451 Unrestricted Total Funds Funds 2024 Current assets Creditors less than 1 year Net assats 969 (42Q) 549 969 {420) 549 18. Related partle5 During the year ended 31 st March 2024 the charity made a donation of £45,000 to The Churches, Trust Limited. The Churches, Trust Limited is the sole member of The Churches, Training Company Ltd. 13-