**REGISTERED COMPANY NUMBER: NI072275 (Northern Ireland) REGISTERED CHARITY NUMBER: 103462** Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2024 for The Cornhill Belfast Trust (A Company Limited by Guarantee) ASC Wylie UBU Ltd Qualified Accountants, Tax & Business Advisors 7 Lisburn Street Royal Hillsborough Co. Down BT26 6AB The Cornhill Belfast Trust Contents of the Financial Statements for the Year Ended 31 March 2024 ||Page| |---|---| |Report of the Trustees|1 to 2| |Independent Examiner's Report|3| |Statement of Financial Activities|4 to 5| |Balance Sheet|6 to 7| |Notes to the Financial Statements|8 to 13| |Detailed Statement of Financial Activities|14 to 15| The Cornhill Belfast Trust for the Year Ended 31 March 2024 ## Report of the Trustees The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by 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 (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The Cornhill Belfast Trust helps with the advancement of the Christian faith and the advancement of education by teaching key principles of biblical teaching. These objectives will be met through the running of the Cornhill Training Course. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** The charity has provided training and support using the Cornhill Training Course by instructing students in the principles and practice of expository preaching and this will continue in the future. Over the past year, training has been provided to approximately twenty students, who have attended classes throughout the year. In addition training has been given to more than one hundred people, who have attended for occasional one-off training days and a one week intensive course. ## **FINANCIAL REVIEW** ## **Financial position** During the current financial year the charity had a deficit of £5,702 in the previous year a surplus (2023 - (£2,001)). ## **FUTURE PLANS** The charity will provide training to students in the principles and practice of expository preaching. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The Cornhill Belfast Trust is a company limited by guarantee and is registered as a charity. The registered office is in Northern Ireland. ## **Organisational structure** The members are responsible for making joint decisions regarding the company, the Reverend Moore Casement is responsible for the day to day management of the charity. The members are required to follow the policies and procedures laid down in the Memorandum and Articles of Association. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Registered Company number** NI072275 (Northern Ireland) ## **Registered Charity number** 103462 Page 1 The Cornhill Belfast Trust Report of the Trustees for the Year Ended 31 March 2024 ## **Registered office** 66 Kings Road Belfast Antrim BT5 6JL ## **Trustees** Rev D Luke TWD Johnston AGW Davis ## **Independent Examiner** ASC Wylie UBU Ltd Qualified Accountants, Tax & Business Advisors 7 Lisburn Street Royal Hillsborough Co. Down BT26 6AB This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on 31 December 2024 and signed on its behalf by: Rev D Luke - Trustee Page 2 Independent Examiner's Report to the Trustees of The Cornhill Belfast Trust I report on the accounts of the company for the year ended 31 March 2024, which are set out on pages four to thirteen. ## **Respective responsibilities of charity trustees and examiner** As the charity's trustees (and also the directors for the purposes of company law) you 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 - 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 - state whether particular matters have come to my attention. ## **Basis of the independent examiner'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(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 with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe: 1. That accounting records were not kept in accordance with Section 386 of the Companies Act 2006 2. That the accounts do not accord with those accounting records 3. 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 4. That there is further information needed for a proper understanding of the accounts to be reached. ## **Independent examiner's statement** I have completed my examination and have no concerns 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 drawing to your attention. Mr ASC Wylie FCA ASC Wylie UBU Ltd Qualified Accountants, Tax & Business Advisors 7 Lisburn Street Royal Hillsborough Co. Down BT26 6AB 31 December 2024 Page 3 The Cornhill Belfast Trust ## Statement of Financial Activities for the Year Ended 31 March 2024 |||2024|2023| |---|---|---|---| |||Unrestricted|Total| |||fund|funds| ||||as restated| ||Notes|£|£| |**INCOME AND ENDOWMENTS FROM**|||| |Donations and legacies||23,387|19,209| |Other trading activities|3|30,473|46,032| |Investment income|4|1,033|269| |**Total**||54,893|65,510| |**EXPENDITURE ON**|||| |**Charitable activities**|||| |Support costs||60,599|63,509| |**NET INCOME/(EXPENDITURE)**||(5,706)|2,001| |**RECONCILIATION OF FUNDS**|||| |**Total funds brought forward**|||| |As previously reported||78,789|76,788| |Prior year adjustment|9|(10,278)|-| |**As restated**||68,511|76,788| |**TOTAL FUNDS CARRIED FORWARD**||62,805|78,789| ||||| The notes form part of these financial statements Page 4 The Cornhill Belfast Trust ## Statement of Financial Activities for the Year Ended 31 March 2024 ## Surplus and Deficit Account 968 Posting discrepancies were found in the reserve accounts listed below. This is because the brought forward postings in the current year are not equal to the figures carried forward by IRIS at the end of last year. Please check your postings in the brought forward account for the surplus and deficit account 968. ||Unrestricted|| |---|---|---| ||funds|Total funds| ||£|£| |Brought forward - 968/1|78,789|78,789| |Prior year adjustment - 496|(10,278)|(10,278)| |Carried forward|68,511
78,789|68,511
78,789| |Difference|10,278|10,278| |||| Post to relevant accounts (see ICHA chart of accounts for further details) The notes form part of these financial statements Page 5 The Cornhill Belfast Trust ## Balance Sheet 31 March 2024 |||2024|2023| |---|---|---|---| |||Unrestricted|Total| |||fund|funds| ||||as restated| ||Notes|£|£| |**FIXED ASSETS**|||| |Tangible assets|10|14|18| |**CURRENT ASSETS**|||| |Debtors|11|3,418|13,710| |Cash at bank||61,470|68,913| |**CREDITORS**||64,888|82,623| |Amounts falling due within one year|12|(2,097)|(3,852)| |**NET CURRENT ASSETS**||62,791|78,771| |**TOTAL ASSETS LESS CURRENT**|||| |**LIABILITIES**||62,805|78,789| |**NET ASSETS**||62,805|78,789| |**FUNDS**|13||| |Unrestricted funds||62,805|78,789| |**TOTAL FUNDS**||62,805|78,789| ||||| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes form part of these financial statements continued... Page 6 The Cornhill Belfast Trust ## Balance Sheet - continued ## 31 March 2024 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 31 December 2024 and were signed on its behalf by: D Luke - Trustee The notes form part of these financial statements Page 7 The Cornhill Belfast Trust Notes to the Financial Statements for the Year Ended 31 March 2024 ## **1. LIMITED BY GUARANTEE** The Cornhill Belfast Trust is a company limited by guarantee and accordingly does not have a share capital. Each member of the Trust has undertaken to contribute to the assets of the Trust in the event of its being wound up while he is a member, or within one year afterwards, for payment of the debts and liabilities of the Trust contracted before he ceased to be a member, and the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributors among themselves, such as may be required, not exceeding ten pounds (£10.00). ## **2. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by 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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. continued... Page 8 The Cornhill Belfast Trust ## Notes to the Financial Statements - continued for the Year Ended 31 March 2024 ## **3. OTHER TRADING ACTIVITIES** **----- Start of picture text -----**
|||| |---|---|---| |2024|2023| |as restated| |£|£| |Booking fees|27,150|43,578| |Summer School & evening class|3,323|2,454| |30,473|46,032| |4.|INVESTMENT INCOME| |2024|2023| |as restated| |£|£| |Deposit account interest|1,033|269| |5.|NET INCOME/(EXPENDITURE)| |Net income/(expenditure) is stated after charging/(crediting):| |2024|2023| |as restated| |£|£| |Depreciation - owned assets|4|4| **----- End of picture text -----**
## **6. TRUSTEES' REMUNERATION AND BENEFITS** ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. ## **7. STAFF COSTS** The average monthly number of employees during the year was as follows: **----- Start of picture text -----**
|||| |---|---|---| |2024|2023| |as restated| |Administration|1|1| **----- End of picture text -----**
No employees received emoluments in excess of £60,000. continued... Page 9 The Cornhill Belfast Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2024 ## **8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** ||Unrestricted| |---|---| ||fund| ||as restated| ||£| |**INCOME AND ENDOWMENTS FROM**|| |Donations and legacies|19,209| |Other trading activities|46,032| |Investment income|269| |**Total**|65,510| |**EXPENDITURE ON**|| |**Charitable activities**|| |Support costs|63,509| |**NET INCOME**|2,001| |**RECONCILIATION OF FUNDS**|| |Total funds brought forward|76,788| |**TOTAL FUNDS CARRIED**|| |**FORWARD**|78,789| ||| ## **9. PRIOR YEAR ADJUSTMENT** continued... Page 10 The Cornhill Belfast Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2024 ## **10. TANGIBLE FIXED ASSETS** |**10.**|**TANGIBLE FIXED ASSETS**|||| |---|---|---|---|---| |||||Computer| |||||equipment| |||||£| ||**COST**|||| ||At 1 April 2023 and 31 March 2024|||451| ||**DEPRECIATION**|||| ||At 1 April 2023|||433| ||Charge for year|||4| ||At 31 March 2024|||437| ||**NET BOOK VALUE**|||| ||At 31 March 2024|||14| ||At 31 March 2023|||18| |**11.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||| ||Other debtors||2024
£
3,418|2023
as restated
£
13,710| |**12.**|**CREDITORS: AMOUNTS FALLING**|**DUE WITHIN ONE YEAR**||| ||Social security and other taxes||2024
£
531|2023
as restated
£
-| ||Pension Control Account||222|-| ||Accruals and deferred income||1,344|3,852| ||||2,097|3,852| |**13.**|**MOVEMENT IN FUNDS**|||| ||**Unrestricted funds**|Prior
year
At 1/4/23
adjustment
£
£|Net
movement
in funds
£|At
31/3/24
£| ||General fund|78,789
(10,278)|(5,706)|62,805| ||**TOTAL FUNDS**|78,789
(10,278)|(5,706)|62,805| |||||| continued... Page 11 The Cornhill Belfast Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2024 ## **13. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |Incoming|Resources|Movement| |---|---|---| |resources|expended|in funds| |£|£|£| |**Unrestricted funds**||| |General fund
54,893|(60,599)|(5,706)| |**TOTAL FUNDS**
54,893|(60,599)|(5,706)| |**Comparatives for movement in funds**
At 1/4/22
£
**Unrestricted funds**
General fund
76,788|Net
movement
in funds
£
2,001|At
31/3/23
£
78,789| |**TOTAL FUNDS**
76,788|2,001|78,789| Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**|Incoming
Resources
resources
expended
£
£|Movement
in funds
£| |---|---|---| |General fund|65,510
(63,509)|2,001| |**TOTAL FUNDS**|65,510
(63,509)|2,001| A current year 12 months and prior year 12 months combined position is as follows: |Prior
Net
year
movement
At 1/4/22
adjustment
in funds
£
£
£
**Unrestricted funds**
General fund
76,788
(10,278)
(3,705)
**TOTAL FUNDS**
76,788
(10,278)
(3,705)|At
31/3/24
£
62,805
62,805| |---|---| continued... Page 12 The Cornhill Belfast Trust ## Notes to the Financial Statements - continued for the Year Ended 31 March 2024 ## **13. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|120,403|(124,108)|(3,705)| |**TOTAL FUNDS**|120,403|(124,108)|(3,705)| ||||| ## **14. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 March 2024. Page 13 The Cornhill Belfast Trust Detailed Statement of Financial Activities for the Year Ended 31 March 2024 |Detailed Statement of Financial Activities
for the Year Ended 31 March 2024||| |---|---|---| ||2024|2023| |||as restated| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Donations|19,969|5,499| |Gift aid|3,418|13,710| |**Other trading activities**|23,387|19,209| |Booking fees|27,150|43,578| |Summer School & evening class|3,323|2,454| |**Investment income**|30,473|46,032| |Deposit account interest|1,033|269| |**Total incoming resources**|54,893|65,510| |**EXPENDITURE**||| |**Charitable activities**||| |Honoria, speakers & conference|12,030|16,088| |**Support costs**||| |**Management**||| |Wages|38,000|32,236| |Social security|-|4,250| |Pensions|1,120|2,660| |Insurance|860|860| |Light and heat|2,250|2,250| |Postage and stationery|4,925|3,777| |Depreciation of tangible and heritage||| |assets|4|5| |Bank interest|-|50| |**Governance costs**|47,159|46,088| |Accountancy and legal fees|1,342|1,333| |Bank interest|68|-| ||1,410|1,333| This page does not form part of the statutory financial statements Page 14 The Cornhill Belfast Trust ## Detailed Statement of Financial Activities for the Year Ended 31 March 2024 |Detailed Statement of Financial Activities
for the Year Ended 31 March 2024||| |---|---|---| ||2024|2023| |||as restated| ||£|£| |Total resources expended|60,599|63,509| |**Net (expenditure)/income**|(5,706)|2,001| |||| This page does not form part of the statutory financial statements Page 15