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 Monitor￿ng 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-