CHARITY REGISTRATION NUMBER: XR25091 The Kairos Trust Financial Statements 31 March 2023
The Kairos Trust Financial Statements Year ended 31 March 2023 Page Trustees, annual report Independent examineff s report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements
Page 1 The Kairos Trust Trustees. Annual Report Year ended 31 March 2023 The trustees present their report and the unaudited financial staterrEnts of the charity for the year ended 31 March 2023. Reference and administrative detsils Registered charity name The Kairos Tntst Charity registration number XR25091 Principal office The trustees Derek MCKeeY Helen McKefvey Irvine Lavery Margaret vlSon Lester Manley Melanie Douglas Valerie Little Tim Houston (Retired 6 April 2022) (Retired 6 April 2022) (Appointed 6 Aprrl 2022) (Appointed 6 April 2022) Independent examiner Elaine Mulholland for and on behalf of Johnston Graham Limited 2161218 Holywood Road Belfast BT4 1PD Structure, governance and management The Kairos Trust is a registered charity WFlh The Charity Comnission for Northern Ireland, number 103640. The prin(ipal address of the charity is 6 Grangewood Chase, Dundonakg, Co. Down. Northern Ireland, BT16 1HW. The charity's goveming docunEnt is Fts Trust Deed. dated 28 November 1998. The charity is managed by its trustees. Trustees et regularly throughout the year.
Page 2 The Kairos Trust Trustees. Annual Report f¢onbnuedJ Year ended 31 March 2023 Objectives and activities The trustees present their Trustees, Report prepared in accordan wf(h Charities SORP (effective January 2015) and the unaudited finanaal statements for the year 31 March 2020 a150 prepared in accordance the aforementioned Statement of Recommended Practice. Principal Activities The prinapal activities of the charity are as follows: Individual and group mentoring of young ministers from a variety of denominations especially those in the first years of sole charge of parishes or congregations. Training for Prayer Ministy which is to equip churth members wrth the basic skilL8 to listen effectively. pray wisely and thereby assist those in difficulty who seek help. - Training for Exisling Prayer Ministy Tea in congregations Work with the Di0e of Vellore in rural Tamil Nadu South India which includes training local leadership and. thus far, the building of four rurdl prirrrary schools for Dalit children and a vocational nursing school for Dalit gits. Work with the local community leadership in a township (Blanco) in George, South Africa, training, equipping and providing infrastructure to assist their work with the local communty. Achievements and perfomiance - Two new trustees were appointed at the annual meeting in 2019 namely Lester Manley and Melanie Douglas. These appointments will wlden the denominational spread of the trust and lower the average age of the trustees sut6tantially. The trust will conlrnue to seek further trustees to secure its future. - The need for this work is clear. The trustees are now actively involved in discussions ty which the material. gather and refined over the last 20 years, can be trRde more widety available for use by others. Financial review The charity raised £3,883 during the year. Expenditure increased from £2.158 last year to £5,560 this year. The trustees remain confident that the charity can continue to successfijlly work towards meetirvJ its aim and objectives. The trustees. annual report was approved on 14 December 2023 and signed on behalf of the board of trustees by: Derek McKetv Trustee Helen McKelvey Trustee
Page 3 The Kairos Trust Independent Examiners Report to the Trustees of The Kairos Trust Year ended 31 March 2023 I report to the trustees on rry examination of the finanaal Statents of The Kairos Trust he charity) for the year ended 31 March 2023. Responsibilities and basis of report As the trustees of the charity you are restk)nsible for the preparation of the financial statements in accordance with the requirements of the Charities Act (Northern Ireland) 2008 (the ?008 Act,). You are satisfied that your charity is not required by charity law to be audited and have chosen instead to have an independent examÉnation. I report in respect of my examination of the charity's fjnancial statements as carrted out under sectton 65 of the 2008 Act. In carrying out my examination I have followed the general Directtons given by the Charity Commission for Northern Ireland under sedion 65{9)(b) of the 2008 Art. Independent examinerfs statement I have completed my exarrmnatton. I confjmi that no matters have come to my attention in connection with my examination giving me cause to believe that in any material respect: accounting records were not kept a5 required by with sectton 63 of the 2008 Act,. or the financial statements do not accord with those records" or the financaal statements do not comply with the accounliThJ requirements of the 2008 Act" or the financial statements do not comply with the applicable requirements conceming the form and content of accounts set out in the Chatites (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a Irue and fairf view which is not a matter considered as part of an independent examination. I confimi that there are no other tterS to which your attention should be drawn to enable a proper understanding of the accounts to be reached. Elaine Mulholland for and on behalf of Johnston Graham Linvted Independent Exarriner 216r218 Holywood Road Belfast BT4 1PD
Page 4 The Kairos Trust Statement of Financial Activities Year ended 31 March 2023 2023 Unrestricted funds Totsl funds Total fund5 2022 Note Income and endowments Donattons and legacies Total income 3,883 3,883 3.883 3.883 Expenditure ExFEnditure on charitable activities Total expenditure 5,560 5,560 5.560 2,158 2.158 5.560 Net expenditure and net movement in funds (1,67n {1,67n (2,158) Reconciliation of funds Totsl ftjnds brought foMard Total funds carried forward 20.096 20,096 18,419 22,254 20,096 18,419 The statement of fjnanaal acttvities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activib'es. The notes on pages 6 to 9 form part of these financial statements.
Page 5 The Kairos Trust Statement of Financial Position 31 March 2023 2023 2022 Note Current assets Cash at bank and in hand 18,419 20,096 Net current assets 18,419 18,419 20,096 20,096 Total assets less current liabilities Funds of the charity Unrestricted funds 18,419 20.096 Total charity funds 18,419 20.096 These financial statements were approved by the board of trustees and authorised for issue on 14 Dember 2023. and are signed on behalf of the lJ)ard by". Derek Md<elv Trustee Helen McKelvey Trustee The notes on pages 6 to 9 form part of these financial st*ments.
Page 6 The Kairos Trust Notes to the Financial Statements Year ended 31 March 2023 General infomiation The charity is a public benefit entity and a registered chartty in Northern Ireland arKI is unincotporated. The address of the principal office is 6 GrarNJewood Chase, Dundonald, BT15 1HW, UnÈted Kingdom. Statement of compliance These financial statements have been prepared in compliance with FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of IrelarKI', the Statement of RecomnEnded Practice applicable to charFties 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 Charittes Act (Northern Ireland) 2tMJ8. Accounting policies Basis of preparation The financÈal statements have been prepared on the historical cost basis. Going concern There are no rrraterial uncertainties aLx)ut the charity's abtlty to continue. Fund accounting Unrestricted funds are availatle for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted fuTrJs earnrked by the trustees for particular future project or commÉtment. Restricted funds are subjected to restrictions on their experKliture declared by the donor or through the terrrE of an appeal, and fall into one of two sub-classes: restrtcted inco£ funds or endowment funds.
Page 7 The Kairos Trust Notes to the Financial Statements (continued) Year ended 31 March 2023 Accounting policies (¢ontinuedJ Incoming resources All incorring resources are included in the statement of fjnancial adivities when entitlement has passed to the charity" it is probable that the economic benefjts asso(iated with the transaction will flow to the chartty and the amount can be reliably measured. The followng speafic policies are applied to particular categories of income: income from donations or grants is recognised when there is eviden of entitlement to the gift. receipt is probable and its atrmjunt can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. inconE from donated goods is measured at the fair 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 fa(Ilities and seNices are recognÈsed in the accounts when received if the value can be reliabty asUred. No aThunts are induded for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted seNice. This is classified as unrestiicted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it be regarded as restricted. Resources expended Expendtture is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fulty recovered, and is dassified under headings of the statement of finanaal activities to which it relates: expenditure on raising funds includes the costs of all fundraising activttÉes, events, non-charitable trading activiti'es, and the sale of donated gocKIs. expenditure on charitable activities includes all costs incurred by a charity in undertaking activittes that further its charitable airtB for the benefit of its benefficiaries. including those support costs and costs relating to the governance of the charity apFortroned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitabie activities. All costs are allocated to expendttijre categories reflecting the use of the resource. Direct ]Sts attriLxrtable to a single activity are allocated direct to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifjable and consistent basis. Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instruwEnt. Basic financial instruments are initially reccgnised at the amount receivaNe or payable incIlIrj any related transaction costs. Current assets and current liatmlittes are sut6equently measured at the cash or other consideration expected to be paid or reiVed and not discounted.
Page 8 The Kairos Trust Notes to the Financial Statements {continuedJ Year ended 31 March 2023 Accounting policies (continued) Financial instruments (continued) Debt instruments are sut6equently measured at amortised cost. Where investments in shares are publicly traded or their fair value (xn othernise be measured reliably. the investment is sut6equently measured at fair value with changes in fair value recognised in income and eXpeIlture. All other such investments are sut6equenty measured at cost less impaimient. Other financial instruments, including derivatives. are inttially recognised at fair value. unless paynEnt for an asset is deferred beyond nomial business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discount&ts at a market rate of interest for a sIrrlar debt instrument. other financial instruments are subsequently measured at fair value, with any changes recognised in the stateEnt of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective eviden of impaimient. an impairment loss is recognised under the appropriate heading in the statement of finanaal activities in which the initial gain was recognised. For all 4uity instruments regardless of significance. and other financial assets that are individually significant. these are assessed indmdually for impaimient. other financial assets are either assessed individually or grouped on the basis of sitrilar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Donalions Donations 3.883 3,883 Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestricted Totsl Funds Funds 2023 Funds 2022 Event Costs Support costs 5,386 174 2,000 158 2,000 158 174 5.560 5.560 2.158 2,158
Page 9 The Kairos Trust Notes to the Financial Statements (continued) Year ended 31 March 2023 Expenditure on charitable activities by activity type Activities undertaken directly Support costs Total funds 2023 Totsl fund 2022 Event costs Support costs 5.386 174 2,000 158 174 5,386 174 2,158 Staff costs The average head count of employees duriwJ the year was Nil (2022: NID. No ernOyee received effployee benefits of Thre than £60,000 during the year (2022: Nill. Trustee remuneration and expenses No remuneration or other beneffts from employment with the charity or a related entity were received by the trustees. Analysis of charitable funds Unrestricted funds At 31 March 202 At 1 April 2022 Incon* Expenditure General funds 20,096 3,883 (5.560) 18,419 At 1 April 2021 31 March 202 Income Expenditure General funds 22,254 (2.158) 20,096 10. Analysis of net assets between funds Unrestricted Total Funds Funds 2023 Current assets 18,419 18,419 Unrestricted Total Funds Funds 2022 Current assets 20,096 20.096