COMPANY REGISTRATION NUMBER: N1614721 CHARITY REGISTRATION NUMBER: NIC104734 North West Methodist Mission Company Limited by Guarantee Financial Statements 31 December 2022 DONALDSON & THOMPSON Chartered Accountants & statutory auditor 3 Limavady Road Londonderry BT47 6JU
North West Methodist Mission Company Limited by Guarantee Financial Statements Year ended 31 December 2022 Page Trustees, annual report (incorporating the director's report) Independent auditor's report to the memb8rs Statement of financial activities (including income and expenditure account) Statement of financial position 13 14 Statement of cash flows 15 Notes to the financial statements 16
North West Methodist Mission Company Limited by Guarantee Trustees, Annual Report (Incorporating the Dlrector's Report) Year ended 31 December 2022 The Irust6es, who are also th8 directors for the purpos&s of company law, present their r8POrt and Ihe flnancial statements of th8 charity for the year ended 31 December 2022. Refornnce and admlnlstratlv8 detalls Reglstered charlty name North West Methodist Misslon Charlty reglstratlon number NIC104734 Company reglstratlon numb8r N1614721 Prlnclpal offlce and roglstered 36 Cloon8y Terrace offlce Londonderry BT47 6AR The trustee8 Mrs J Doherty Mr J Glbson Ms M Hamilton Ms T R Hegarty Mr M Johnston Dr W P Leeson Mr J G Lusby Miss J Mccandless Rev Dr S F Skuce Mrs H Wray Mlss J Given Mrs M Young (R8sign8d 31 D8C8mber 20221 (Roslgned 31 Decomber 20221 Mlsslon Dlreclor Liam Mllllgan Audltor Donaldson & Thompson Charterod Accounlants & statutory auditor 3 Llmavady Road Londondery BT47 6JU Bankers Ulster Bank Ltd 29 Clooney Terrace Waterside Londonderry BT47 6AS Sollcltors Babingtons Sollcltc)rs 9 Limavady Road Londonderry BT47 6JU
North West Methodist Mission Company Limited by Guarantee Trustees. Annual Report (Incorporating the Dlrector's Report) (oontlnued) Year ended 31 December 2022 structure, govérnance and manag8ment North West Methodist Mission is part of the Methodlst Church in Ireland and is a charltable company limited by guarantee, incorporated on 1st Oclober 2012, acceptod as a charity by HM Revenue & Customs under referance XT39218 and registered with th6 Charity Commission for Northern Ireland on 8th February 2017 under charity number NIC104734. The company was astablished under a Memorandum of Association which states the objects and powers of the charitable company and is governed under its Articles of of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £1. North West Mothodist Mission is a providerofsupporting People servic8s, as accredited bythe Northern Ireland Housing Executlve. Governance During the year Ihe Mlsslon Board mel quarterly. The Board membershlp as a whole was approved by the Melhodlst Conference in Ireland. The Board continues to monitor its membership. A skills audit of the Board rnembershlp has taken place and is reviewed on a regular basis. A Reglster of Interests for Board Members has also been compilad. Doclaralion of int8r8Sts is a standing Itam on all of the agendas for Board me8tings. The Board has devised a Confllcts of Interests Pollcy as well as financlal polici8S and procedures. The Board provides training on various issuas including recruitment and seleclion, appraisal, etc. Board members must always act in the best Intorests of NWMM and as such are covered by qualifying for third Party indemnity provlsion, whlch has been in place throughout the pasl yoar and will remaln in place. Policies ar8 reviewed and updated on a circulatory basis and also in response to legislative changes, whllo new pollcles and procedures are devised as required. In line wllh new requirements the Board wlll review its Safgguarding of Vulnerable Adults and Childrgn Policy on an annual basis. The Board has devolved some of its powers to thg Executive Board, which meets when n8c8ssary.
North West Methodist Mission Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnu•d) Year ended 31 December 2022 structure, governanco and management {oontlnuod) Primary Purposes Mission The purpose of NWMM is to demonstrate faith in action by responding affectively to the needs of people in the North West and enable them lo achieve their potential Vision The vision of NWMM is of a soclgty enrlched by a commltmant to promote social lustlce In all aspects of Ilfe Values Social lustlce A commitment to the principles of equality, solidarity and human rights that re¢ognises the dignity of every human balng Empowerment Supportlng the development of Indlvlduals and communltSes to take more responslblllty for, and control of, thelr own lives Compassion Llvlng our fallh In action through s&lftess conc8rn for others Incluslon & DSverslly A commitment to a welcoming hospitality that treats everyone with dignity 8nd respect, celebrates dlverslty, and en8bles the marglnalized to fe81 they belong R8sponsiven8SS Respond effectlvely to the changlng needs and asplratlons of the local communlty Inlegrity Belng open and tr8nsparent In all our actlvltles - dolng what we say and saylng what we mean Risk manag8ment During 2022 the Mlsslon Board and Senlor Management consldered the major rlsks thal the charily faces through its strategic planning proc855. This eiiables compliance with relgvant regulations and leglslation. Tho Mission Board has devised a Rlsk Register, and thls is revlewed at each of our meetlngs. A Fixed Assets list has been compl6t0d. In respect of financlal rlsk, the Board recelves regular flnancial reports with systems and controls in plac& to mitigate significant financial risks. Flnance policies are r8viewed and updated. During these uncertain economic condltSons, we contlnue to revlew our business rfsks. The current external onvironment continues to have a significant impact post pandemic. We contlnue to maintaln posltive relations wlth our clients, funders and stakeholders.
North West Methodist Mission Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Director's Report) (contlnuodj Year ended 31 December 2022 ObJ8ctlv8s and activltles Prlmary Objectives North West Methodist Mission has within its Strategic Plan 2020 - 2025 eight core objectlV8S'. Homelessness To respond effectively lo homelessness in the North-west. Community To respond affectivel to the n8ads of the local community in the North-west. Collaboration To ensure that NW collaborates effectively with other churches and organisatlons In achieving its mission. Communlcatlons To ensure 8ffective communication with NWMM internal and 8xt8rnal stakeholders Finance To ènsure that NWMM has the financlal r8sources It requir8S to achleve its plans and thase rasources are effectlvely and efflclently managed, Human Resources To ensure that NWMM has the staff and volunteers that It needs lo achleve Its plans and these volunt88rs and staff arg effectively utillzgd, valued, supported and managed. Premises and Physlcal Resources To ensure that NWMM has the premises and other physical r8sourc8S It requlr8S to achi8V8 its alms 8nd prlorltles efflclently and effectlvely and thes6 resources are well managed and malntalned. Governance To onsure thal the governance 8nd structure of NWMM are fll for purpose and comply wlth th8 requiremenls of the law and best practice. Publlc Beneflt The Trust8&s have consid8red relevant Gharity legislation, which sets out the requirements for charities to demonstrate their aims and activities are for public benefit. The Trustees confirm that they have had regard to the Charlty Commisslon for Northern Ireland guidance on publlc benefit. Homeless The direct benefit flowing from our purposes include r8duced numbers of men experiencing homelessness. The support ofclients In our service to overcome the causes that lead to them becoming homeless in Ihe first place, enabling them to integral8 back into the community and sustain tenancies. This reduces the pressure on other statutory seNices a5 8 result of harm reduction interventions whilst in our service. The wider community benefits due to a reduction in rough sleeping and anti social bohaviour. Sociely benefits as clients acquire skills and become able to live independently and seek training andlor employment.
North West Methodist Mission Company Llmited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (¢ontlnu8dJ Year ended 31 December 2022 ObJ8Ctives and actlvities (¢ontlnu8d) The Mission has been fortunate Ihat there have been no major Covid outbreaks impactlng servlGe delivery however, there hava been soma instances of recorded positlV8 cases. These resulted in periods of occupancy voids due to isolation requir8ments however Supporting People have provided funding support in respect of lost income. Supporting Peop16 Covid claims have also covered additional costs incurred and tolal around £342. There has bèen no major impact on income or expenditure as a result of Covid. On Ihis basis. the Trustees are satisfied that there are adequate resources available to continue operating for the foreseeable future. As w8 progros$8d through the year there was a significant easlng of restriction and by the end of 2022, most restrictions have been Ilfted. We havg continued to support blended working over the perlod for relevant staff. Booklngs at our Clooney Centre remaln slow to return to pre pandemlc levels and thSs is belng kept under revlew. On Ihls basls. th8 Trustees are satlsfled that there are adequate resources avallable lo contlnue operatlng for the foreseeable futur8. stratoglc report The followlng sections for achievements and performance and financial revlew form the 5trat8gic report of the charity. Achl8vernents and performance Our homeloss services contlnue to b8 delivored lo Fligh standards with the emphasis on person centred support. Clarendon Shelter has been successfully Integrated into the Mlssions structure and ethos whllst retainlng its unique Identity and caring approach to h81ping wom8n and children experiancing homelessness. Considerable preparation had b88n completed ahead of mergerto ensure the harmonlsation of systems and approaches and this has resulted in a relatively seamless transitlon for both Clarendon and the Misslon ben&filing both service users and staff alike. The delivery of services is against a backdrop of inc'reasing demand and challenging economic and flnancial circumstances, driven in large part by Ihe cost-of-living crisis. Thls has resulted In challenges to control costs and maximlse revenue. As well as the expected cost increases, such as utilities, we have seen a sharp rise in bad debts from non-payment of services charggs and rent. Glven the vulnerable nature of tlie cllonts we serve It Is unlikely this situatlon wlll Improve and thls issue is being highlighted with our funders and key stakeholders. The Mission held an Awareness Event in December to reflect on tho work over the year and provide greater awareness on homolessness issues lo religious, civic, business and community leaders in the clty which was very well attended.
North West Methodist Mission Company Limlted by Guarantee Trustees. Annual Report (Incorporating the Director's R8POrt) (conllnuod) Year ended 31 December 2022 Achl8v8ments and p8rformanc8 (contlnued) Men's Hostel Key Performance Indl¢ators Referrals Admissions Move On utilisation Occupancy 900 85 98 Clarendon Sheller Key Performance Indlcators Referrals Admisslons Move On Utilisation Occupan¢y 139 44 42 94,55010 Flnanclal r8vlew Review of activities 2022 The Statement of Flnanclal Actlvltles for the year ended 31 December 2022 Is set out on page 13 of th8 Financial Statements. The company returned a d8ficil for the year of £71,758 after other recognlsad galns and losses. Income generated from the company's actlvltles was £1,646,113 (2021 £1,704,714) of which 630/0 was grants from the Nl Housing Ex8CUtiva and the Western Health Social Care Trust. Supportlng People provSded addltlonal fundlng support durlng Ihe year vla the Covld 19 emèrgency Funding in respect of lost incom8 and additional costs incurred to maintain staff and rosidenl safety- clalms for the year totalled £342. Support servlces are regulated and funded by the Supporting Peopl8 policy and funding framework, which is administered by th& Northern Ireland Housing Executive. The Mission Board share collective responslbility and ar8 committed to good stewardship of funds receiv8d, a high standard of servic8 provision and a prudent reserves policy. Tha aims and obj8CtIV8S for 2022 included continuing enhancement of quality services, including staff restrucluring, greater partlcipatlon of residents, the strengthenlng of resettlement services, actlvely supportlng residents to "move- on" and to sustain more independent tenancies and the development of management informatlon reportlng systems. The Mlsslon Board Is pleased to roport that slgnlflcanl progress has been made to meet the alms and objectives durlng 2022. A budget income and expendllure account including the above objectives is is prepared at the start of each flnancial year and Ihe 2022 objectives were largely met desplte the threat from Covid-19. The NWMM Board considers it prudent to hold funds in resgrv8 in case unforeseen circumslan¢8s should lead to financial difficulties, which might put the future of its employment capacity, residents, wellbeing, genèral mission work and property in jeopardy. Reserves may be defined as restricted or unreslricted. Restricted reserves relate lo surpluses accumulated as a result of a blnding restriction by the donor over the use of the income donated. Unrestricted reserves relate to surpluses accumulated from all othor sources of income and will be applied to general purposes within Ihe company at the discretion of the Board. Deslgnated reserves refer to thal Portlon of unreslrlcted reserves whl¢h the Board has allocated for 8 specific purpose. The Board considers 100 /0 of annual operating costs lo be adequate reserves. Accumulated reserves as at 31 December 2022 were £1,520,91912021- £.1,592.677) of which £771,242 (2020 £687,064) wero designated funds and £69.356 (2021- £60,196) were restricted funds.
North West Methodist Mission Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (¢ontlnu8dJ Year ended 31 December 2022 Plans for future perlods Contlnue to provide hlgh quality temporary accommodatlon and support to homeless men Includlng harm reduction support through our Men's Hostel. Continue to provide refuge and temporary accommodalion to women fleeing domestic abuse, homeless single women and children via our Clarendon Shelter services. Continue to work in partnership and build sustainability. Explore and research longer-term accommodation solutions for our service users. Re-establish other services such as the Drop-in Centre. Parenl & Toddler Group, Luncheon Club when it is saf& to do so. Further develop Clooney Centre as a community resource Further develop and communicate the work oflhe Five Missions Forum Continue to develop and deliver our homelessn855 aducation and awareness programme to schools and community organisations withln Ihe region Continue to invest in lh8 skills and d8v&lopment of our Trustees, staff and volunteers through appropriate Irainlng and development opportunltles b()th on and off the lob Continue to ensure quality standards are underslood and met across the organisation Ensure our core values and clients are at the centre of all we do At the time of wrltlng this report we recognise the continued cost of Ilvlng challenges, the Impact of the absence of stormont.and the posslblllty of fundlng cuts given Ihe recent budget announcement. Thls wlll have an Impact on our ablllty to dellver on fulur8 plans and the management of r15k In the comlng year. Tru8toes' re8pon8lbllltles 8tatemont The trustees, who are also directors for the purposes of company18w, aro responsibl& for preparing the trustees, report and the financial statements in accordanGe with applicable law and United Kingdom Accountlng Standards (Unlled Klngdom Generally Accepted Accounting Practlcel. Company law requires the charity trustees to prepare financial statements for each year which glve a true and falr vlew of the state of affalrs of the charltable company and the Incomlng resources and application of resources, including the income and expenditure, for that period. In preparlng theso flnanc181 statements, the trustees are requlr8d to: select suitable accounting policles and then apply them consistently., observe the methods and principles In thè applicable Charit18s SORP., make judgments and accounting estimates that are reasonable and prudent., stale whgther applicable UK Accounting Standards have been followed, sublect to any material departures disclosed and explained In th8 financial statements; prepare the financial statements on the going concern b851s unless It is inappropriale lo presume that the charity will continue in business.
North West Methodist Mission Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (¢ontlnuod) Year ended 31 December 2022 The trust88s are responsible for keeping adequate accounting records that ara sufficient to show and explaln the charity's transactions and disclose with reasonable accuracy at any time the flnancial position of the charity and anable them lo ensure that the financial stalements comply with the Companles Act 2006. They are also responsible for safeguardlng the assets of the charity and hence for taking reasonable steps for Ihe preventlon and detectlon of fraud and other irregularllles. Atsdltor Each of thè parsons who is a trustee at the date of approval of this r8POrt confirms that: so far as they are aware, th&r8 is no relevant audit information of whlch the charity'5 audltor Is unaware; and they have taken all steps that they ought to have taken as a trustee to mak8 themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The auditor 15 deemed to have been re-appointed in accordance with section 487 of the Companles Act 2006. The Irustees, annual report and the strateglc report were approved on 18 May 2023 and slgned on behalf of the board of trustees by.. J Doherty Trustee
North West Methodist Mission Company Limited by Guarantee Independent Auditor's Report to the Members of North West Methodlst Mission Year ended 31 December 2022 Oplnlon We have audited the financial statements of North West Methodist Mlsslon (the 'charity'l for the year ended 31 December 2022 which comprise the st8temont of financial activities (including income and expenditure account), stalemant of financial position, statement of cash flows and the related notes. including a summary of significant accounling policies. The financial reporting framework that has been applied in their proparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland {United Kingdom Generally Accepted Accounting Practice). In our opinion the financial stat8ments'. give a true and fair view of the state of the charity's affairs as at 31 December 2022 and of ils Incomlng resources and applicatlon of resources, includlng its income and expendlture, for the year thon ended; have been properly prepared in accordance wlth United Klngdom Generally Accepted Accounting Practlce., hav8 been prepared in accordance wlth the requlrem6nts of the Companies Act 2006. Basls for oplnlon We conducted our audlt in accordance wllh International Standards on Audiling (UK} (ISAS {UK)) and applicable law. Our responslbllltles under those standards 8re further descrlbed In the auditorfs responsibilities for the audit of the financlal statements sectlon of our report. We are independent of the charlty In accordance wlth the elhlcal requirements that are relevant to our audit of the flnanclal statements in th8 UK, including tho FRL'S Ethical Standard, and the provisions available for small enti118s, in the circumstances sel out in note 28 to the firiancial statements, and wo have fulfilled our other ethlcal responslbllltles In accordance wlth these requlrements. We belleve that the audit evldence we have obtained is suffl¢lent and approprlat8 to provide a basls for our opinlon. Concluslon8 relatlng to golng concern In auditing the financial statem8nts, we have concluded that the trust8GS' use of the golng concern basis of accoLtntlng In the preparatlon of the flnanclal statements Is appropriate. Based on the work we have performed, we have not Identlflod any materlal uncertainties relating to events or conditions that, individually or collectively, may cast significant doubl on the charity's ability to continue as a going concern for a period of at least iwelve months from when the flnancial statements are authorlsed for issue. Our responslbllltles and the r8sponsibilities of the trustee5 Wlth respect to going concem are described in the relevant sections of this report.
North West Methodist Mission Company Limited by Guarantee Independent Auditor's Report to the Members of North West Methodist Mission (contlnuèd) Year ended 31 December 2022 oth8r Infomiatlon The other information comprises the information in¢luded in the annual report, other than the financial stratements and our audltor's roport thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, ex¢6pt to the extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion Ihereon. In connoction with our audit of the financial statements, our responsiblllty is to read the other information and, In doing so. conslder whether the other informatlon is materlally inconsistent wlth the financial statements or our knowledge obtainod in the audit or otherwise appears to be materially misstated. If we identlfy such materlal Inconsistencies or apparent material misstatements, we are requlred to datermine whether there is a material misstatement in th8 financial statements or a material misstatement ofthe other Information. If, based on the work we have perfomed, we conclude that there is a matarial misstatemant of this other Information, wa are required to report that fact. We have nothing to report in this regard. Oplnlon8 on other matters prescrlbed by the Companles Act 2006 In our opSnlon, based on th6 work undertakon In the course of the audlt.. the Informatlon glven In the trustees, report for the flnanclal year for whlch the financial statements are pr8par8d is cons1$16nt with the financial statements; and the trustees, report has been prepared In accordance wlth appllcable legal requlrements, Matter8 on whlch we are requlred to report by excapllon In the Ilght of the knowledge and undgrstandlng of Ihe charlty and Its envlronment obtalngd In the course of the audlt, we have not identifi8d material mlsslatements in Ihe Irustees, report. We have nothing to report In respect of th8 following matters In relation to whlch the Companies Act 2006 requlres us to report to you If, In our oplnlon: adequate accounting records have not been kept, or returns adaquate for our audit have not been received from branches not visited by us., or the flnanclal statements are not In agreement wlth the accountlng records and returns., or cèrtain disclosures of trustees, remuneration specifled by law are not made; or W8 have not r8ceived all the information and explanations we r8quir8 for our audit. 10
North West Methodist Mission Company Limited by Guarantee Independent Auditor's Report to the Members of North West Methodist Mission (¢ontlnued) Year ended 31 December 2022 Rosponslbllltles of trustees As explained more fully in the trustees, responsibilities statement, the trustees {who are also the dlrectors for the purposes of company law} are responslble for the preparatlon of the financlal statements and for being satisfied that they giv6 a true and fair view, and for such internal control as the trustees determlne Is necessary to enable the preparation of financlal statements that are free from materlal misstatement, whethgr due to fraud or error. In preparlng the financlal statements, the trustees are responslble for assesslng the charity's ablllty to continue as a going concern, disclosing, as applicabl8. matters related to going concern and using Ih@ going concern basis of accountlng unless the trustees either Intend to Ilquidale the charlty or to cease operations, or have no r6alistic alternative but to do so. Audltor's responslbllltles for the audlt of the flnanclal statements Our objectives are to obtain reasonable assurance about whath8r the financlal statements as a whole are free from material mlsstatement, whether due to fraud or error, and to issue an audltor's report that includes our opinion. Reasonabla assuranc8 is a high level of assuranco, but is not a guarantee that an audlt conducted In accordance with ISAS (UK) will always detect a materlal mlsstatement when it exlsts. Mlsslatements can arise from fraud or arror and are considered m8terlal if, individually or In the aggregate, thoy could reasonably be expected to Influence the economio declslons of users taken on the basis of those financial slataments. Irregularltles, Includlng fraud, are Instances of non-compllance wlth laws and regulations. We design proc8dures in line with our responslbllities, outlined above, to delect malerial misstatem8nts in respect of Irregularltles, Including fraud. The extent to whlch our procedures are capable of delectlng irregularitS8s, including fraud is detailed below., Because of the Inherent Ilmllatlons of an audlt, there Is 8 rlsk that we wlll not detect all Irregularltles, Including those leading to a material misstatement In the financial statements or non-complianc& wlth regulatlon. Thls risk Increases the more that compllance wlth a law or regulatlon Is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-complianGe. The risk is also greater regarding Irregularlties occurrlng due to fraud rather than error. as fraud Involves Inlentlonal concealm8nt, forgery, colluslon, omlsslon or misr@presentation. As part of an audit in accordance wlth ISAS (UKI, we exercise professlonal judgment and maintaln profession81 sceptlcism throughout the audit. We also.. Identlfy and assess the risks of material misstatement of the financlal slatements, whether due to fraud or error, design and perform audil procedures responsive to those risks, and oblain audit evidencg that is sufficient and appropriate to provlde a basis for our oplnlon. The risk of not detocting a matarial misstatement resulting from fraud is high@r than for one resulling from error, as fraud may involve collusion, forgery, intentional omissions, misreprasentations, or the override of internal control. Obtain an understanding of internal control relevant lo the audit in order to design audit procedures that are appropriate in the clrcumstances, but not for the purpose of expressing an oplnlon on tho effectiveness of the inlernal control. Evaluate the appropriateness of accounting policies used and Ihe reasonableness of accounting estimates and related disclosures made by the trustees. 11
North West Methodist Mission Company Limited by Guarantee Independent Auditor's Report to the Members of North West Methodist Mission (contlnued) Year ended 31 December 2022 Conclude on the appropriateness of the trustaes, use of th8 going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability lo continue as a going concern. If we conclude that a material uncertainly exists, we are requlred to draw attentlon in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequat6, to modify our oplnlon. Our concluslons are based on the audlt evldence obtained up to the date of our auditor's report. However, future events or conditions may cause the charity lo cease to continue as a going concern. Evaluate the overall presentation, structure and Gontent of the financial statements, including the disclosures, and whether th8 financial statement8 represent th6 underlying transactions and ev8nts In a manner that achleves fair presenlatlon. We communicate with thos& charged with govomance regarding, among other matters, th8 planned scope and timing of the audlt and signlflcant audlt flndlngs, includlng any significant deficiencies In internal control that we Identify during our audit. Use of our report Thi5 report is made so161y to the charity's members, as a body, in accordance wlth Chapter 3 of Part 16 of the Companles Act 2006. Our audlt work has been undertaken so that we mlght state to the charSty's members those matters wa are required lo state to them in an auditor's report and for no olher purpose. To the fullest extent pemiltted by law, we do not accept or assume rèsponslblllty to anyone other than th6 charity and th8 charity's m8mb8rs as a body, for our audit work, for thls report, or for the opinlons we have formed. Alistalr Sterrilt (Senlor Statutory Auditor) For and on bahalf of Donaldson & Thompson Chartered Accountants & statutory audltor 3 Llmavady Road Londonderry BT47 6JU 18 May 2023 12
North West Methodist Mission Company Limited by Guarantee Statement of Financial Activitles {including income and expenditure account) Year ended 31 December 2022 2022 Restricted funds Total funds 2021 Unrestrlcted funds Total funds Note Income and ondowments Donations and legacles Charitable activities Other tradlng activities Investment income Other income 70,329 657,170 6,338 6,230 1,696 904,350 72,025 1.561,520 6,338 6,230 65,733 1,283,031 11,257 2,219 342,474 Total Income 740,067 906,046 1,646,113 1,704,714 Expendlture Expendlture on ralslng funds.. Costs of other trading activit16S Expendlture on charltable actlvltles Total expendlture 10 11,12 50 601,094 50 1,591,010 1,591,060 989,916 1,330,758 601,144 989,916 1.330,758 Net Income 138,923 (83,870) 55,053 373,956 Transfers between funds (93,0301 93,030 Othar recognl8ed galn8 and losse8 Losses from revaluation of fixed assets (126,811) (80,918) (126.8111 (71,7581 (24,129) 349,827 Net movement In funds 9.160 Reconclllatlon ol funds Total funds brought foNard Total funds carrled foThvard 1,532,481 1,451,563 60,196 1,592,677 1,520,919 1,242,850 1,592,677 69,356 The statement of financial aclSvities includes all gains and loss&s recognised in th8 year. All incom8 and expendlture derive from continuing activitles. The notes on pages 16 to 28 form part of these flninclal statements. 13
North West Methodist Mission Company Limited by Guarantee statement of Flnancial Posltlon 31 December 2022 2022 2021 Note Fixed assots Tangible fixed assets 17 14,945 11,212 Current ass8ts Debtors Investments Cash at bank and in hand 18 19 57,352 656,998 956,090 53,584 703,809 992,888 1.750,281 1,670,440 Crodltors.. amounts falllng due wlthln one year Nat current assets 21 164,466 168,816 1,505,974 1,520,919 1,520,919 1,581,465 1,592,677 1,592,677 Total as8Ot8 le85 current Ilabllltle8 Nat as88t8 Funds of the charlty Restricted funds Unrestrlcted funds.. Revaluatlon reserve other unrestricted income funds 69,356 60,196 126,602 1,405,879 1,532,481 1,451,563 1,461,563 Total unrestrlcled funds Total charlty funds 23 1,520,919 1.592,677 These flnanclBI statements were approved by the board of trustees and authorSsed for Issue on 18 May 2023, and are signed on behalf of th6 board by,. - W-JbWy • JL rs J Doherty Trustee Rev Dr S F Skuce Trustee The noto8 on pages 16 to 28 fomi part of these flnan¢lal statements. 14
North West Methodist Mission Company Llmited by Guarantee Statement of Cash Flows Year ended 31 December 2022 2022 2021 Not• Cash flows from operatlng actlvltles Net income 55,053 373,956 Adjustments for." Depreciation of tangible fixed assels Divldends, interest and rents from investments Accrued income 6,761 (6,2301 (69,986) 10,181 (2,219) 14,4051 Changes in.. Trade and other debtors Trade and other creditor5 15,661 45,777 2,756 26,423 Cash generated from operations Nel cash from operating activities 47,036 47,036 406,692 406,692 Cash flow8 from Investlng actlvltles Dividends, interest and rents from investmen18 Purchase of tangible assets Purchases of other investments 6,230 {10,494) (80,000) (84,264) 2,219 (13,281) Net cash used In investing aclivltles (11,042} N8t (d8crease)Ilncr8a8e In cash and cash equlvalents Cash and cash 9qulvalonts at bgglnnlng of year Cash and cash equlvalenls at end of yaar (37,228> 992,782 955,554 395,650 597,132 992,782 20 Thé notes on pages 16 to 28 form part of these flnanclal statement8. 15
North West Methodist Mission Company Limited by Guarantee Notes to the Financial Statements Year ended 31 December 2022 G8n8ral Informatlon The charity is a publlc benefit entity and a private company Ilmited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the regi5ter8d office is 36 Clooney Terrace, Londonderry, BT47 6AR. statement of Compllanca These financlal statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable In the UK and the Republic of Ir8land', the Statem8nt of Recommended Practlce applicable to charlties preparing thoir accounts In accordance with the Financial Reporting Standard applicablo in th8 UK and R8public of Ireland IFRS 102) (Charities SORP (FRS 102)) and the Companles Act 2006. Accountlng pollcles Basls of preparatlon The financial statements have beon prepared on the historical cost basls, as modified by the revaluatlon of certaln flnancial assets and Ilabilltles and Investment propertles measured at falr value through income or expendilure. The flnanclal statements are pr8pared In sterllng, whlch Is the functlonal currency of the entity. Golng concern There are no m8tgrf8l uncertalntles about the charlty's ablllty to contlnue. Judgements and key sources of estlmatlon un¢ertalnty The preparatlon of the financlal statements requlres management to make Judgements, estimates and assumptions that affect the amounts reported. Thes8 estimates and judgements are conllnually revlewed and are based on experience and other factors, Includlng expectations of future events that are believed to be reasonable under the circumstances. Fund accountlng Unrestricted funds are available for use at the discretlon of the trustees to further any of the charlty's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future prolect or commitment. Restrictod funds are subjected to restrictions on their expenditur8 declared by the donor or through the terms of an appeal, and fall Into one oftwo sub-classes.. restricted income funds or endowment funds. 16
North West Methodist Mission Company Limited by Guarantee Notes to the Financial Statements (conllnuedj Year ended 31 December 2022 Accountlng pollcles (¢ontlnu8d) Incomlng resources All Incoming resourc85 ar8 included in the statoment of financial activities when 8ntitlamanl has passed to the charity., it is probable that the economic benefits associated with the Iransaction will flow to the charity and the amounl can be reliably measured. The following specific policies are applied to particular categories of income: income from donatlons or grants Is recognised whon there Is evidence of entitlement to the gift, receipt is probable and its amount can b8 measured reliably. legacy Income is recognised when receipt is probab16 and entitlement Is 8Stab1ished. Income from donated goods is measured al the falr value of the goods unless thls Is impractical lo measure reliably, in which case the valuo is derived from the cost to the donor or the estlmated resale value. Donated facllltles and seNlces are recognised in the accounts when received if the valuo can be reliably measured. No amounts are included for the contribution of general volunteers. Income from contracts for th8 supply of servlces Is recognlsed wlth the dellvery of the contracted seNlce. This is classified as unrestricted funds unless there is a Contractual requirement for il to be spent on a particular purpose and returned if unspent, in which cas& it may be regarded as restricted. Resources expended Expendlturo is recognised on an accruals basi5 as a Ilability is incurred. Expenditure includes any VAT which canriot be fully recovered, and 1$ classlfled under headlngs of the statement of flnanclal activities to which it relates: expenditure on raising funds includes tho costs of all fundralsing aclivities, events, non- charltabl8 trading actlvltles, and the sale of donated goods. expenditure on charitable activiti85 includes all costs incurred by a charity in undertaking activities that further its charitable alms for the beneflt of ils beneficiaries, including thos8 support costs and costs r91ating to the governance of the charity apportioned lo charitable activities. other expenditure Includes all expenditure that Is neither related to ralslng funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expendllure categorles reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contrlbute to on a reason8ble, lustlfiable and conslstent basls. Tangible assets Tanglble assets are inltially recorded at cost, and subsequently stated at ¢ost18ss any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the falr value at the date of revaluation less any subsequent accumulated depreclation and sub$8qU@nt accumulated impairmont losses. 17
North West Methodist Mission Company Limited by Guarantee Notes to the Financlal Statements (contlnuod) Year ended 31 December 2022 Accountlng pollcl8s {contlnu•d) Tanglble a88ets {contlnuedJ An increase in the carrying amount of an asset as a result of a rgvaluation, is recognised in other recognised gains and losses, unless il reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, Is racognised in other recognised gains and losses, except to whlch It offsets any prevlous revaluatlon galn, in which case th8 loss Is shown wlthln other recognI5ed galns and losses on the statement of flnancial actlvllles. Deproclatlon Depreciatlon Is calculated so as to wrlte off the cost or valuation of an assot, less its resldual value. over the useful 8conomic life of that asset as follows.. Fixtures & fittlngs Motor V8hicles Equlpment 25 % straight line 33010 Straight line 20910 slralght line Impalmient of flxod a888ts A revlew for Indlcalors of Impalrment Is carrled out al each reportlng date, wlth the recoverable amount being estimated wher8 such indicators exlst, Wher8 Ihe carrying value exceeds the recoverable amount, the 8ssel Is impaired accordlngly. Prlor Impalrments are also revlewed for possible reversal at oach reporting dat8. For the purposes of impairment testing, when il is not possible to estimate the recoverable amount of an indlvidual asset, an estimate is mad8 of Ihe recoverable amount of the cash-g8neraling unil to whSch the asset belongs. The cash-generatlng unit Is the smallest Idenllflable group of assets that includes the assel and genèrates cash inflows that largely ind8p8ndent of the cash inflow8 from other assels or groups of assets. For impairment testing of goodwill, the goodwlll acquired in a business combinatlon Ss. from the acquisition date, allocated to each of the cash-generating unlls that are expected to benefit from the synergies of th8 comblnatlon, Irrespective of whether other assets or Ilabilities of the charity are assignod to those units. Flnanclal Instruments A financial asset or a financlal Ilablllty is recognlsed only when Ihe charlty becomes a party to the contractual provisions of the instrument. Baslc flnancial in5trumenls are initially recognlsed at the amount receivable or payable Includlng any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected lo be paid or received and not discounled. Debt Instruments are subsequently measured at amortised cost. 18
North West Methodist Mission Company Limited by Guarantee Notes to the Financial Statements (contlnuod) Year ended 31 December 2022 Accountlng pollclès (contlnuod) Flnanclal Instruments fcontlnu•d) Wh8re investments in shares are publicly traded or their fair value can olherwiso be measured reliably, Ihe investment is subsequently measured at falr valLte with changes in fair value recognis8d in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instrum8nts, including derlvatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal buslness temis or financed at a rate of interest that is not a market rate, in which case the assot is measurgd at the present value of the future payments dlscounted at a market rate of Interest for a slmllar debt instrument. other financial instruments are subsequently measured at fair value, with any changes recognised In the statement of flnancial actlvltles, with the exceptlon of hedglng Instruments In a designated hedging relationship. Flnanclal assets that are measurad at cost or amortlsed cost are revlewed for oblecllve evldence of impairm8nt at the end of each reporting dat8. If there is objoclive evid8ncG of impairment, an Impaimient105s is recognis8d under the appropriate heading in the statement of flnanclal actlviti8S in which the Initial gain was r8cognis8d. For all equlty Instruments regardless of slgnlflcance, and other flnancl81 assets that are Sndlvldually significant, these ar8 assessed indlvidudlly for impairment. other financial assets are esther assessed Indlvldually or grouped on the basls of slmllar credlt rlsk characteristlcs. Any reversals of impairmenl are racognised imm8diately, to the ext8nt that the r8v8rsal does not result In a carrylng amount of the flnanclal asset that exceèds what the carrylng amount would have been had the impairment not previously been recognised. Deflned contrlbutlon plans Contributions to defined contribution plans are recognl$6d as an expense in the period in which the related servic8 Is provided. Prepald contribullons are recognised as an asset to the extenl that the prepayment wlll lead to a reduction in future payments or a cash refund. When contribullons are not expected to be settled wholly wlthln 12 months of the end of the reporting date in whioh Ihe employees rander the related sorvice, the liability is measured on dlscounted present value basis. The unwinding of the dlscount is recognlsed as an expense In the period in whlch it arises. Llmlted by guarantee North West Melhodist Mission is a company limited by guarantee and accordingly does not hav8 a share capital. Every momber of th8 company undertakes to contribute such amount as may be required not exceeding £1 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 ha or she ceases lo be a member. 19
North West Methodist Mission Company LimSted by Guarantee Notes to the Financial Statements (¢ontlnu8d) Year ended 31 December 2022 Donatlons and legacles Unrestricted Funds Restricted Total Funds Funds 2022 Donations Clooney church donations- restrlcted Clooney church donations- unrestricted Other donations 1,696 1,696 50,402 19.927 50,402 19,927 Legacles Clooney church legacles 70,329 1,696 72,025 Unrestricted Funds Restricted Total Funds Funds 2021 Donatlons Clooney church donallons- restrlcted Clooney church donalions- unrestricted other donations 777 777 51,148 13,708 51,148 13,708 Legaclo8 Clooney church legacles 100 100 64,956 777 65,733 Charltable actlvltle8 Unrestricted Funds Rostricted Total Funds Funds 2022 Grant incom8- Supporting People Grant income- W.H.S.C.T. Hostel accommodation & personal charges Room hlre & related Income Facilities rental Project & actlvltles income 884,504 884,504 84,893 488,665 32,092 11,000 60,366 1,561,520 84,893 488,665 32,092 11,000 40,520 657,170 19,846 904,350 Unrgstricled Funds Restricted Total Funds Funds 2021 Grant Income- Supportlng People Grant inGoma - W.H.S.C.T. Host61 accommodation & personal charges Room hire & related income Facilities rental Project & activitSes income 838.191 838,191 80,916 310,336 19,945 11,000 22,643 80,916 310,336 19,945 11,000 8,545 14,099 430.742 852,290 1.283,031 20
North West Methodist Mission Company Limited by Guarantee Notes to the Financlal Statements (conllnu8dJ Year ended 31 December 2022 Charltable actlvltles (contlnu•d) Included within Grant Income - Supporting people for the year ended 31st December 2022 are the following grants.. Provider Investment Fund Covid 19 Emorgency Fund £9,629 £6,424 other tradlng actlvltle8 Unrestricted Total Funds Unrestricted Total Funds Funds 2022 Funds 2021 Fundralslng events Provision of support Services 2,412 3,926 2,412 3,926 6,338 2,317 8,940 2,317 8,940 6,338 11,257 11,257 Investment Incom8 Unrestrlct8d Total Fund8 UnrestrSct8d Total Funds Funds 2022 Funds 2021 Income from Ilsted Investments Incom8 from cash investments 4,254 1,976 8,230 4,254 1,976 6,230 1,902 317 1,902 317 2,219 2,219 Other Income Unrestrlcted Funds Restrlcted Total Funds Funds 2022 Othar exceptional Income Unrestricted Funds Restricted Total Funds Funds 2021 Other exceptional income 278,509 65,965 342,474 10. Costs of other tradlng actlvltles Unrestricted Total Funds Unrestricted Total Funds Funds 2022 Funds 2021 Fundraising costs - church 50 50 21
North West Methodist Mission Company Limited by Guarantee Notes to the Financlal Statements (contlnued) Year ended 31 December 2022 11. Expendlture on charltable actlvltl83 by fund typo Unrestrlcted Funds Restrfcted Total Funds Funds 2022 Clooney Church Clooney Hall activities General charitable Clooney Church Homeless Servi¢8S Support costs 1,696 1,696 58,916 81,765 32,901 1,311,783 103,949 1,591,010 58,916 81,765 32.901 368,541 58,971 601,094 943,244 44,976 989,916 Unrestricted Funds Restricted Total Funds Funds 2021 Clooney Church Clooney Hall actlvltles General charitahle Clooney Church Homeless Sarvices Support costs 777 777 39,251 34,231 20,150 1,111,171 125,178 39,251 34,231 20,150 218,148 67,527 893,019 57,656 951,452 379,307 1,330,758 12. Expendlturn on charltable actlvltles by acllvlty type Actlvitles undertaken dlrectly Support Total funds costs 2022 Total fund 2021 Clooney Church Clooney Hall activit185 General charltable Clooney Church Homeless Servlces Governance costs 1,696 58,916 81,765 32,901 1,311,783 1,696 59,011 83,637 75,493 1,359,290 11,883 1,591,010 777 39,251 34,666 70,785 1,159,357 25,922 95 1,872 42,592 47,507 11,883 1,487,061 103,949 1,330,758 13. Analysls of support costs Support costs Total 2022 Total 2021 Finance costs Governance costs Other Support costs 1,152 11,883 90,914 103,949 1,152 11,883 90,914 1,330 25,923 97,925 103,949 125,178 22
North West Methodist Mission Company Limlted by Guarantee Notes to the Financial Statements (¢ontlnu•d) Year ended 31 December 2022 14. Net Income Net Income is stated after chargingl{credltlngl'. 2022 2021 Depreciation of tangibla fixed assets Fees payable for the audit of the financial statements 6,761 9,130 10,181 9,140 15. Staff costs The total staff costs and employee b6n8fits for tha reporting p8riod are analysad as follows.. 2022 2021 Wages and salaries Social security costs Employer contrlbutlons to penslon plans 948,082 76,812 24,111 1,049,005 808,029 47,575 17,693 873,297 Th& average head count of employees during the y8ar was 45 {2021: 451. The average number of full-tlme equSvalent employees durlng the year Is analysed as follows.. 2022 2021 No. Number of staff 45 45 No employee received employ88 b8nofils of more than £60,000 durlng the year (2021: NII), Key Management Personnel Key management personnel include all persons that have aulhorlty and responsibility for planning, dlrectlng and controlllng the actlvltles of the charity. The total compens8tlon pald to key management personn81 for services provided to the charily was £187,40112021.'£177,4711. 16. Trustee r8muneratlon and expenses No exponses, remuneration or other benellts from employment with th8 charity or a related entity were received by the trustees. 23
North West Methodist Mission Company Limlted by Guarantee Notes to the Flnancial Statements (¢ontlnu8dJ Year ended 31 December 2022 17. Tanglble flxed assets Fixtures and fittings Molor vehi¢1gs Equipment Total Cost At 1 January 2022 Additions 87,504 20,125 23,507 10,494 34,001 131,136 10,494 141,630 At 31 December 2022 87,504 20,125 D8preclatlon At 1 January 2022 Charge for the year At 31 December 2022 77,071 5,804 82,875 20,125 22,728 957 119,924 6,761 126,685 20,125 23,685 Carrylng amount At 31 Decembèr 2022 4,629 10,316 14,945 At 31 December 2021 10,433 779 11,212 18. Debtorn 2022 2021 Trade debtors Prepayments and accrued Income Other debtors 9,639 43,163 4,550 57,352 6,659 24,455 22,470 53,584 19. Investments 2022 2021 Llsted Investments Unlisted investments 41,649 615,349 28,985 674,824 656,998 703,809 20. Cash and cash equlvalents Cash and cash equivalents comprise tho following.. 2022 2021 Cash at bank and in hand Bank overdrafts 956,090 (536) 955,554 992,888 (106) 992,782 24
North West Methodist Mission Company Limited by Guarantee Notes to the Financial Statements (contlnu•d) Year ended 31 December 2022 21. Credltors: amount8 falllng du8 wlthin on8 year 2022 2021 Bank loans and overdrafts Trade creditors Accruals And deferred in¢om8 Soclal security and other taxes Other creditors Other creditors 536 40,468 26,359 31,040 48,742 17,321 106 10,676 76,916 21,656 42,799 16,663 164,466 168,816 22. Penslons and other post retlrement beneflt8 Deflned contrlbutlon plans The amount recognised in income or expenditur8 as an expense in relation to defined contribution plans was £24,111 (2021.. £17,693). 25
North West Methodist Mission Company Limited by Guarantee Notes to the Financial Statements (¢ontlrtu•dJ Year ended 31 December 2022 23. Analysls of charftable funds Unrestrlcted fund8 At Gains and 31 Dec 202 Ioss8S At 1 Jan 2022 Income Exp8ndltur8 Transfers General funds Revaluation res8rv8 Designated fund - Clooney Church Deslgnated fund - Homeless services 718,815 85,915 {124,200) {209} 680,321 126,602 209 (126,8111 130.717 68,434 (75,543) 123,608 556,347 585,718 740,067 (401,4011 193,0301 (601,1441 193,0301 1126,8111 1,451,563 647,634 1,532,481 At Gains and 31 Dec 202 losses At 1 Jan 2021 Income Expendlture Transfers General funds Revaluation reserve Designated fund - Clooney Church Designated fund - Homeless Bervlces 658,011 126,683 {65,879) 718,815 150,731 (24,129) 126,602 146,224 55,508 (71,015) 130,717 287,884 1,242,850 603,492 1242,413) (92,6161 (379,307) (92,616) {24,129) 1,532,481 556,347 785,683 26
North West Methodist Mission Company Limited by Guarantee Notes to the Financial Statements (¢ontlnued) Year ended 31 December 2022 23. Analy8ls of charltable funds (contlnuod) Restrlcled funds At Gains and 31 Doc 202 losses At 1 Jan 2022 Income Expenditure Transfars Restrlcted Fund - Clooney Church Restricted Fund Homeless S8lWIC8S 1.696 (1,6961 60,196 904,350 1988,220) 1989,916) 93,030 69,356 69,356 60,196 906,046 93,030 At Galns and 31 Dec 202 losse5 At 1 Jan 2021 Incom8 Expenditure Transfers Restrfcted Fund - Clooney Church Restricted Fund - Homele88 services 777 (777) 918,255 919,032 (950,675) (951,452) 92,616 60,196 60,196 92,616 24. Analysls of net assets between funds Unrestricted Funds Restrlcted Total Funds Funds 2022 Tangible fixed 8$5ets Investments Current assets Creditors less than 1 year Net a8SOt8 14,945 656,998 944,086 (164,466) 1,451,563 14,945 656,998 1,013,442 (164,466) 1,520,919 69.356 69,356 Unrestricted Funds Restrfcted Total Funds Funds 2021 Tangible fixed assets Investments Current assets Creditors less Ihan 1 year Net assets 11.212 703,809 969,552 (152,092) 1.532.481 11,212 703,809 76,920 1,046,472 (16,724) (168,816) 60,196 1.592,677 27
North West Methodist Mission Company Limlted by Guarantee Notes to the Financial Statements (¢ontlnu•d) Year ended 31 December 2022 25. Flnanclal Instruments The carying amount for each category of flnancial instrument is as follows: 2022 2021 Flnanclal assets that are debt Instrumonts measured at amortlsed Cost Financial assets that are debt instruments measured at amortised cost 1,610,513 1,703,356 Flnanclal liabilities measured at amortlsed cost Financial liabllitles measured at amortlsed cost 40,992 10,782 26. Analysls of changes In net debt At At 1 Jan 2022 Cash flows 31 D8c 2022 Cash at bank and In hand Bank overdrafls Current assel Investments 992,888 1106) 703,809 (36,798) (4301 146,8111 (84,0391 1,612,552 956,090 {536} 656,998 1,696,591 27. Related partles Durlng the year the charlty entered Into the followlng Iransacllons wlth related partles.. Balance owed byl{owod to) Transactlon value 2022 2021 2022 2021 Payment in resp8cl of church assessmenl contrlbutlons Payment in respect of pastoral support Receipts In respect of admlnlstration expenses rècharged 42.313 21,730 50,436 30,180 11,918) (2,333) 38 480 As detalled above, durlng the year North West Methodist Mlsslon made payments lo and recelved amounts from the Londonderry, Inishowen, Limavady and Strabane Mission Circuit, an organisation which is also governed by the Methodist Church in Ireland and which has some officials who are also directors of North West Methodist Misslon. North Wesl Methodlst Mission is under tha direction of the Methodist Church in Ireland. During the year the Methodist Church in Ireland continued to Invest funds wilh Epworth Investment Management on behalf of the company. At the year end these funds were valued al £615,349 (2021.. £674,824). 28. Ethlcal Standards In common with many other charities of our size and nature we use our auditors to assist with the preparation of the financial statements. 28