COMPANY REGISTRATION NUMBER: N1614721 CHARITY REGISTRATION NUMBER: NIC104734 North West Methodist Mission Company Limited by Guarantee Financial Statements 31 December 2023 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 2023 Page Trustees, annual report (incorporating the directovs report) Independent auditor's report to the members 12 Statement of financial activities (including income and expenditure account) 16 statement of financial position 17 statement of cash flows 18 Notes to the financial statements 19
North West Methodist Mission Company Limited by Guarantee Trustees. Annual Report {Incorporating the Director's Report) Year ended 31 December 2023 The trustees, who are also the direclors for the purposes of company law, present their report and the financial statements ofthe charity for the year ended 31 December 2023. Reference and administrative details Registered charity name North West Methodist Mission Charity registration number NIC104734 Company registration number N1614721 Principal office and registered 36 Clooney Terrace office Londonderry BT47 6AR The trustees Mrs J Doherty (Co Secretary) {Resigned 21 December 2023) Mr J Gibson Ms M Hamilton Ms T R Hegarty (Vice Chairl Mr M Johnston ffreasurerl Dr W P Leeson Mr J G Lusby Miss J Mccandless Rev P Morris Dr M Parker Rev Dr S F Skuce (Chair) Mrs H Wray (Appointed 21 December 2023) (Appointed 13 September 2023) Mission Director Liam Milligan Auditor Donaldson & Thompson Chartered Accountants & statutory auditor 3 Limavady Road Londonderry BT47 6JU Bankers Ulster Bank Ltd 29 Clooney Terrace Waterside Londonderry BT47 6AS Solicitors Babingtons Solicttors 9 Limavady Road Londonderry BT47 6JU
North West Methodist Mission Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 December 2023 Structure, governance and management North West Methodist Mission is part of the Methodist Church in Ireland and is a charitable company limited by guarantee, incorporated on 1st October 2012, accepted as a charity by HM Revenue & Customs under reference XT39218 and registered wrth the Charity Commission for Northern Ireland on 8th February 2017 under charity number NIC104734. The company was established under a Memorandum of Association which states the objects and powers of the charitable company and is govemed under tts Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £1. North West Methodist Mission is a provider of Supporting People services. a5 accredited bythe Northern Ireland Housing Executive. Govemance During the year the Mission Board met quarterly. The Board membership as a whole is noted annually at the Methodist Conference in Ireland. The Board continues to monitor its membership. A skills audit of the Board membership has taken place and is reviewed on a regular basis. A Register of Interest5 for Board Members is also maintained. Declaration of interests is a standing item on all of the agendas for Board meetings. The Board has devised a Conflicts of Interests Policy as well as financial policies and procedures. The Board provides training to Trustees in various areas to ensure good governance. Board members must always act in the best interests of NWMM and as such are covered by qualifying for third party indemnity provision, which has been in place throughout the past year and will remain in place. Policies are reviewed and updated on a circulatory basis and also in response to legislative changes, while new policies and procedures are devised as required. In line with new requirements the Board will review its Safeguarding of Vulnerable Adults and Children Policy on an annual basis. The Board has devolved some of its powers to the Executive Board, comprising the Office Bearers, which meets when necessary.
North West Methodist Mission Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 December 2023 Structure, governance and management {continued) Primary Purposes Mission The purpose of NINThAM is to demonstrate faith in action by responding effectively to the needs of people in the North West and enable them to achieve their potential Vision The vision of NWMM is of a society enriched by a commitment to promote social justice in all aspects of life Values Social justice A commitment to the principles of equality, solidarity and human rights that recognises the dignity of every human being Empowerment Supporting the development of individuals and communities to take more responsibility for, and control of, their own lives Compassion Living our faith in action through selfless concem for others Inclusion & Diversity A commitment to a welcoming hospitality that treats everyone wth dignity and respect, celebrates diversity, and enables the marginalized to feel they belong Responsiveness Respond effectively to the changing needs and aspirations of the local community Integrity Being open and transparent in all our activities - doing what we say and saying what we mean Risk management During 2023 the Mission Board and Senior Management considered the major risks that the charity faces through its strategic planning process. This enables compliance with relevant regulations and legislation. The Mission Board has devised a Risk Register, and this is reviewed at each of our meetings. During the yearrisk assessments foreach occupational area were reviewed and updated as appropriate by the Senior Management team. A Fixed Assets list has been completed. In respect of financial risk, the Board receives regular financial reports wth systems and controls in place to mitigate significant financial risks. Finance policies are reviewed and updated. During these uncertain economic conditions. we continue to review our business risks. The current external environment continues to have a significant impact due to inflation and cost of living crisis. We continue to maintain positive relations with our clients, funders and stakeholders.
North West Methodist Mission Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directors. Report) (continued) Year ended 31 December 2022 Objectives and activities Primary Objectives North West Methodist Mission has within its Strategic Plan 2020 2025 eight core objectives.. Homelessness To respond effectively to homelessness in the North-west. Community To respond effectively to the needs of the local community in the North-west. Collaboration To ensure that NWMM collaborates effectively with other churches and organisations in achieving its mission. Communications To ensure effective communication with NWMM internal and external stakeholders Finance To ensure that NWMM has the financial resources it requires to achieve its plans and these resources are effectively and efficiently managed. Human Resources To ensure that NWMM has the staff and volunteers that it needs to achieve its plans and these volunteers and staff are effectively utilized, valued, supported and managed. Premises and Physical Resources To ensure that NWMM has the premises and other physical resources it requires to achieve its aims and priorities efficiently and effectively and these resources are well managed and maintained. Governance To ensure that the governan and structure of NWMM are fit for purpose and comply with the requirements of the law and best practice. Public Benefit The Trustees have considered relevant charity legislation. which sets out the requirements for charities lo demonstrate their aims and activities are for public benefit. The Trustees confirm that they have had regard to the Charity Commission for Northern Ireland guidance on public benefit. Homeless The direct benefit flowing from our purposes include reduced numbers of men, women and children experiencing homelessness. The support of clients in our service to overcome the causes that lead to them becoming homeless in the first place. enabling them to integrate back into the community and sustain tenancies. This reduces the pressure on other statutory services as a result of harm reduction interventions whilst in our service. The wider community benefits due to a reduction in rough sleeping and anti social behaviour. Society benefits as clients acquire skills and become able to live independently and seek training andlor employment. On the basis of an established track record of providing highly regarded and quality based services. continued accreditation by the Nl Housing Executive, and financial reserves, the Trustees are satisfied that there are adequate resources available to continue operating for the foreseeable future.
North West Methodist Mission Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directors. Report) (continued) Year ended 31 December 2022 Strategic report The following sections summarise the key achievements, performance and financial review of the charity. Achievements and performance Current need The statistics in the Dfc Bulletin paint a bleak picture for the state of homelessness in Northern Ireland as the number of households living in temporary accommodation continues to increase. Over the last five years, the number of households in temporary accommodation has more than doubled. In January 2024 over 4,500 households were living in temporary accommodation. an increase of over 600 since January 2023 and a rise of almost 121 /0 since 2019. Between July and December 2023, just under 8.200 households presented to the Housing Executive as homeless. This was an increase of 90/0 on the same period in 2022. Just over 5,300 households were accepled as homeless, a rise of over 9 % when compared to the same period in 2022. The Bulletin also reveals that in January 2024, the number of children living in temporary accommodation in Northern Ireland rose to over 4,800 - an increase of 60/0 since July 2023. Of these children, over 3.100 were aged nine and under. 482 of these children were aged under 1. In January 2019, just over 2,400 children were living in temporary accommodation. The number of children living in temporary accommodation has increased by 99Q/o since then. In addition to highlighling the continued increase in those seeking temporary accommodation. the Dfc Bulletin provides a geographical breakdown of homelessness presentations. Belween July and December 2023, Belfast City Council area recorded the highest number of presentations at a rate of 7 presentations per 1,000 people (2,425 people). This was followed by Derry and Strabane Council who had 6.4 presentations per 1,000 people (964 people) and then Antrim and Newtownabbey Council with 4.6 presentations per 1,000 people (678 people). Performance The delivery of services is against a backdrop of increasing demand. Men's Hostel Referrals Admissions Move On utilisation Occupancy 472 88 88 94.3% 95.5% Clarendon Shelter Women & Children Referrals Admissions Move On Utilisation Occupancy 96 27 27
North West Methodist Mission Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directors. Report) (continued) Year ended 31 December 2022 Achievements and performance (continued) Achievements NWMM has undertaken a review of investments and designated funds for the development of move on accommodation during the year. Agreement was also reached with Clooney Hall Church and the Methodist Church in Ireland for the purchase of a property for the project. Policy reviews have been completed with the organisations HR and Operational Policies all having been reviewed and updated during the year. A range of activities continue to be delivered and development to enhance the support provided to our clients. these include= Aflernoon tea's. themed meal nights & quizzes Daytrips MENTALK Programme aimed at addressing loneliness and social isolation. Cooking nutritious meals on a budget Marking key days and events such as International Women's Day. Mental Health Awareness Day, Volunteers Week, Healthy Eating Week and Homeless Awareness Week We continue to fundraise and develop our social media profile and presence with several key events delivered during the year: The Mission was instrumental in bringing Still Somebody - Voices for Change Photographic Exhibition to the city in May. The images are powerful, evocative and speak the truth about some of the circumstances and factors that for people into homelessness. The aim is to stress the scale and scope of the problem and show that it can happen to anyone. The event was held over four days in the Guildhall with Guest speakers including the Mayor Sandra Duffy, Nicole Lappin, Chair of the Housing Executive, Liam Milligan, Mission Director and Cormac McArt. Director of Westcourt Centre. Belfast and curator of the exhibition. Successful return of Tour de Foyle after two years with over go participants. A huge thank you to all who took part and to volunteers, Marshalls and all the Rapid Relief Team. the Executive Office without whose support we could not run the event. London Marathon a huge thank you to Pauline Mullan from Limavady who ran the London marathon donating all the proceeds to support our Clarendon Shelter Service for Women and Children. We secured £25.000 from the Joseph Rank Trust to assist our clients through the cost of living crisis. We ran a marketing and awareness campaign during Homelessness Awareness Week which included high profile billboards across the city and a social media campaign featuring former residents video testimonials on their lived experience of homelessness and the support they received from the Mission.
North West Methodist Mission Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directors. Report) (continued) Year ended 31 December 2022 Achievements and performance (continued) We continue our Partnership with the United Methodist Church Global Ministries welcoming a second Global Mission Fellow to the Mission and the City to assist with social media. communications. and our Homelessness Awareness Outreach Programme. We are grateful both to Camille and Tino for their vocation and presence in our Mission. We attended a meeting with the Department for Communities and the Northern Ireland Housing Executive in October to discuss the budget and ongoing pressures for organisations in the sector as a result of the cost-of-living crisis and lack of an Assembly. We continue to lobby on key issues experienced by our sector and our clients. We hosted a visit lo the Mission by Mr. Colum Boyle, Permanent Secretary, Department for Communities at the beginning of November 2023. Colum met with both slaff and residents and reflected on his visit saying: "I was extremely impressed with your scheme and noted that it offers tenants a much-needed feeling of security along with a significant level of independence. I believe this is vital for all our supportlng people tenants and your scheme demonstrates how well it addresses the core alm of the SP policy by really supporting people to live more independently in the communlty. I was especially pleased to talk to John and Sean and meet the other men who live at Crawford Square. I could see how restful and lively an environment it is, not only in the lounge but also in the gym tool Your facilities and your staff really do go above and beyond to ensure vulnerable people in our soclety feel cared for and vital."
North West Methodist Mission Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directors. Report) (continued) Year ended 31 December 2022 Achievements and performance (contlnued) What our clients say about us. Clarendon Shelter Women & Children .1 reached out for help, and I decided to Gome to Clarendon. and it was the best decision of my life- . Andrea "Thank you for all you have done for me and the boys. From having my bad days to good days you were always there. I thank you from the bottom of my heart always-. - Lauren hank you to all the girls in Ashmore for being so kind and helpful" _ Roisin hank you so much for the presents. They really helped me out at Christmas-. - Susan 'Thank you for your kindness that can never be repaid and your understanding and the difference it makes". - Kerry 'Thank you for all you do for us. Thmugh every dark cloud you helped me see a brighter day.: - Demi Men's Hostel. "You really felt loved within the Hostel. There wasny a day passed where you really felt self-worth where I never had that.-_ Robert "If it wasny for the staff at the hostel I dony where I would be today- _ Gerard -The hostel gave me a chance to get my life back on track- _ Enrico he staff at the hostel treated me with respect and never judged me, I will never forget what they have done for me-. - Noel 'The Men s Hostel saved my life and gave me a chance to live independently agaln". - Keith
North West Methodist Mission Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directors. Report) (contlnued) Year ended 31 December 2022 Financial review Review of activities 2023 The Statement of Financial Activities for the year ended 31 December 2023 is set out on page 15 of the Financial Statements. The company returned a surplus for the year of £72,275 after other recognised gains and losses. Income generated from the company's activities was £1,636,999 (2022 - £1.646.113) of which 67 /0 was grants from the Nl Housing Executive and the Western Health Social Care Trust. Support services are regulated and funded by the Supporting People policy and funding framework. which is administered by the Northern Ireland Housing Executive. The Mission Board share collective responsibility and are committed to good stewardship of funds received, a high standard of service provision and a prudent reserves policy. The aims and objectives for 2023 included continuing enhancement of quality services. greater participation of residents, the strengthening of resettlement services. actively supporting residents to "move- on. and to sustain more independent tenancies. The Mission Board is pleased to report that significant progress has been made to meet the aims and objectives during 2023. A budget income and expenditure account including the above objectives is prepared at the start of each financial year and the 2023 objectives were met. A decision was taken by the Trustees to separate the finances of Clooney Hall Church from NWMM in order to streamline reporting and reduce the burden on church volunteers. The accounts for 2023 reflect this change. The NWMM Board considers it prudent to hold funds in reserve in case unforeseen circumstances should lead to financial difficulties. which might put the future of its employment capacity, residents, well-being, general mission work and property in jeopardy. Reserves may be defined as reslricted or unrestricted. Restricted reserves relate to surpluses accumulated as a result of a binding restriction by the donor over the use of the income donated. Unrestricted reserves relate to surpluses accumulated from all other sources of income and will be applied to general purposes within the company at the discretion of the Board. Designated reserves refer to that portion of unrestricted reserves which the Board has allocated for a specific purpose. The Board considers 1000/0 of annual operating costs to be adequate reserves. Accumulated reserves as at 31 December 2023 were £1,432,958, (2022 £1,520.919) of which £744,490 were designated funds and £36.628 (2022 - £69,356) were restricted funds.
North West Methodist Mission Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continued) Year ended 31 December 2023 Plans for future poriods Continue to provide high quality temporary accommodation and support to homeless men including harm reduction support through our Men's Hostel. Continue to provide refuge and temporary accommodation 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. Continue to provide other services such as the Drop-in Centre, Parent & Toddler Group, and Luncheon Club. Further develop Clooney Centre as a community resource Further develop and communicate the work of the Five Missions Forum Continue to develop and deliver our homelessness education and awareness programme to schools and community organisations within the region Continue to invest in the skills and development of our Trustees, staff and volunteers through appropriate training and development opportunitie5 both on and off the job Continue to ensure quality standards are understood and met across the organisation Ensure our core values and clients are at the centre of all we do Trustee5' responsibllities ststement The trustees, who are also directors forthe purposes of company law, are responsible for preparing the trustees. report and the fi'nan¢ial statements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period. In preparing these financial statements, the trustees are required to.. select suitsble accounting policies and then apply them consistently.. observe the methods and principles in the applicable Charities SORP,. make judgments and accounting estimates that are reasonable and prudent. state whether applicable UK Accounting Standard5 have been followed. subject to any material departures disclosed and explained in the financial statements- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to Show and explain the charity's transath-ons and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the chanty and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 10
North West Methodist Mission Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (continued) Year ended 31 December 2023 Auditor Each of the persons who is a trustee at the date of approval of this report confimis that- so far as they are aware, there is no relevant audit infomiation of which the charity's audrtor is unaware" and they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish thatthe charity's audrtor is aware of that information. The auditor is deemed to have been re-appointed in accordance wth section 487 of the Companies Act 2006. The trustees. annual report and the strategic report were approved on 22 May 2024 and signed on behalf of the board of trustees by= Mr M Johnston (Treasurer) Trustee 11
North West Methodist Mission Company Limited by Guarantee Independent Auditor's Report to the Members of North West Methodist Mission Year ended 31 December 2023 Opinion We have audited the financial statements of North West Methodist Mission (the 'charity') for the year ended 31 December 2023 which comprise the statement of financial activits.es (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial ieporting framework that has been applied in their preparation 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 statements- give a true and fair view of the state of the charity's affairs as at 31 December 2023 and of its incoming resource5 and application of resources. including its income and expenditure, for the year then ended- have been properly prepared in accordance with United Kingdom Generally AGcepted Accounting Practice; have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Intemational Stsndards on Auditing (UK) IISAS (UK)) and applicable law. Our responsibilits'es under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and the provisions available for small entities, in the circumstances set OLrt in note 27 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and approprrate to provide a basis for our opinion. Conclusions relating to going concem In auditing the financial statements. we have concluded thatthe trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomied, we have not identified any material uncertainties relating to events or conditions that. individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authortsed for issue. Our responsibilities and the responsibilities of the trustees wth respect to going concem are described in the relevant section5 of this report. 12
North West Methodist Mission Company Limited by Guarantee Independent Auditor's Report to the Members of North West Methodist Mission fcontinuedj Year ended 31 December 2023 Other information The other information comprises the information included in the annual report, other than the financial statements and Dur auditorfs report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or othenmise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the Iinancial statements or a material misstatement ofthe other information. If. based on the work we have performed. we conclude that there is a material misstatement of thi5 Other information. we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the trustees, report for the financial year for which the financial statements are prepared is Gansi5tent with the financial statements; and the trustees, report has been prepared in accordance wtth applicable legal requirements. Matters on which w8 are required to report by exception In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees, repart. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement with the accounting records and returns; or certain disdosures Df trustees, remuneration specified by law are not Tnade-, or we have not received all the information and explanations we require for our audit. 13
North West Methodist Mission Company Limited by Guarantee Independent Auditorfs Report to the Members of North West Methodist Mission (continued) Year ended 31 December 2023 Responsibilities of trustees As explained more fully in the tru5tees' responsibilities slatement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concem and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to ase operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements a5 a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance wtth ISAS (UK) will always delect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate: they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecling irregularities, including fraud is detsiled below. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This rtsk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial stalements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also- Idents-fy and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perfomi audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting trom error, as fraud may involve collusion, forgery, intentional ornissions, misrepresentations, or the override of internal control. Obtain an understanding of intemal control relevant to the audit in orderto design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal Gontrol. Evaluate the appropriatenes5 of accounting policie5 used and the reasonableness of accounting estimates and related disclosures made by the trustees. 14
North West Methodist Mission Company Limited by Guarantee Independent Auditor's Report to the Members of North West Methodist Mission feontlftuedj Year ended 31 December 2023 Conclude on the appropriateness of the trustees, use of the 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 signrficant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the dale of our auditor's report. However, future events or conditions may cause the charity to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whelher the financial statements represent the undedying transactions and event5 in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned Scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report This report is made solely to the charity'5 members. as a body, in accordance with Chapter 3 of Part 16 ofthe Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law: we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed. Alistair Sterritt (Senior Statutory Auditor) For and on behalf of Donaldson & Thompson Chartered Accountants & statutory auditor 3 Limavady Road Londonderry BT47 6JU 22 May 2024 15
North West Methodist Mission Company Limited by Guarantee statement of Financial Activities (including income and expenditure account) Year ended 31 December 2023 2023 Restricted funds Total funds 2022 Unrestricted funds Total funds Note Income and endowments Donations and legacies Charitable adivities Other trading activib-es Inveslmenl income 21,181 676,678 4,448 9,469 21.181 1,601,901 4,448 9,469 72,025 1,561,520 6.338 6,230 925,222 Total income 711,776 925,222 1,636,999 1,646,113 Expenditure Expenditure on raising funds- Costs of other trading activities Expenditure on charitable activities Total expenditure 347 724,393 347 1,715.369 50 1,591,010 10,11 990.975 724,740 990.975 1.715.716 1,591.060 Net (expenditure)lincome (12,964) (65,753) (78,717) 55.053 Transfers between funds 133,025) 33,025 Other recognised gains and losses Gainsl(losses) from revaluation of fixed a55ets 27,384 27,384 {126,811) 171.758) Net movement in funds (18,605) (32,7281 (51,333) Reconciliation of funds Total funds brought forward Total funds carried forward 1,451,563 69,356 1,520,919 1,592,677 1.432,958 36,628 1.469,586 1,520,919 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 19 to 30 form part of these flnanclal statements. 16
North West Methodist Mission Company Limited by Guarantee Statement of Financial Position 31 December 2023 2023 2022 Fixed assets Tangible fixed assets 16 16,963 14,945 Current assets Debtors Investments Cash at bank and in hand 17 18 65,387 648.828 949,471 57,352 656.998 956,090 1.663.686 1,670,440 Creditors: amounts tslling due within one year Net current assets 20 211,063 164,466 1.452.623 1.505,974 Total assets less current liabilities 1.469,586 1.520,919 Net assets 1,469,586 1.520,919 Funds of the charity Restricted funds Unrestricted funds.. Revaluation reserve Other unrestricted income funds 36,628 69,356 27,384 1,405,574 1,451,563 Total unrestricted funds 1,432,958 1.451.563 Total charity funds 22 1,469,586 1,520,919 These financial statements were approved by the board of trustees and authorised for issue on 22 May 2024, and are signed on behalf of the board by.. Mr M Johnston ITreasurer) Trustee Rev Dr S F Skuce (Chair) Trustee The notes on pages 19 to 30 fonn part of these financial ststements. 17
North West Methodist Mission Company Limited by Guarantee Statement of Cash Flows Year ended 31 December 2023 2023 2022 Note Cash flovls from operating activities Net {expenditure}lincome (78,717) 55.053 Adjustments for." Depreciation of tangible fixed assets Dividends, interest and rents from investments Accrued income 7,069 {9,469) (7,328) 6,761 (6,230) {69,986) Changes in.. Trade and other debtors Trade and other creditors 16,976 24,011 (47,458) (47,4S8) 15.661 45,777 Cash generated from operations Net cash (used in)lfrom operating activities 47,036 47,036 Cash flov from investing activities Dividends, interest and rents from investments Purchase of tangible assets Purchases of other investments other investing cash flow adjustment Net cash froml(used in) investing activities 9,469 (9,087) 6,230 (10,494) (80,000) 35,554 35,936 (84,264) Net decrease in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year (11,522) 955,554 {37,228) 992,782 19 944,032 955,554 Tliv iiul¥?• Vli Pdye?> 19 lu 30 furiii Vdrl uf Uivii¥ niidllL'l<il Sid1111116'. 18
North West Methodist Mission Company Limited by Guarantee Notes to the Financial Statements Year ended 31 December 2023 General inforniation The charity is a public benefit entity and a private company limited by guarantee. registered in Northem Ireland and a registered charity in Northem Ireland. The address of the registered ottice is 36 Clooney Terrace, Londonderry. BT47 6AR. 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 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. Accounting policies Basis of preparation 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, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncertainty The preparation ofthe financial Statements requires management lo make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of ture events that are believed to be reasonable under the circumstances. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestrrcted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donororthrough the terms of an appeal, and fall into one of hmo sub-classes.. restricted income funds or endowment funds. 19
North West Methodist Mission Company Limited by Guarantee Notes to the Financial Statements (continuedj Year ended 31 December 2023 Accounting policies (continued) Incoming 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 Ilow to the charity and the amount can be reliably measured. The fallowing specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entitlement 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 fair value of the goods unless this is impractrcal 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 volunteers. 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 recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of Ihe statement offinancial 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 the govemance of the charily apportioned to charitable activities. other expenditure includes all expenditure that is neithei related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categorie5 reflecling the use of the resource. Direct costs attributable to a single actlvity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded atC05t, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 20
North West Methodist Mission Company Limited by Guarantee Notes to the Financial Statements (conthued) Year ended 31 December 2023 Accounting policies (continued) Tangible assets {continued) An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses. unless it reverses a charge for impairmenl 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 recognised in other recognised gains and losse5, except to which it offsets any previous revaluation gain, in which case the Ioss is shown within other recognised gains and losses on the statement of financial activities. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, les5 its residual value, over the useful economic life of that asset as follows.. Fixtures & fittings Motor Vehicles Equipment 200/0 Straight line 33 % straight line 33D/o Straight line Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generaling unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a paty to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. 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 cosL 21
North West Methodist Mission Company Limited by Guarantee Notes to the Financial Statements (Connued) Year ended 31 December 2023 Accounting policies (eontlnued) Financial instrnments (continuedj Vvhere investments in shares are publicly traded or their fair value can othewse be measured reliably.. the investment IS subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. other financial instruments, including derivatives, are initially recogni5ed at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is nol a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Otherfinancial instruments are subsequently measured at fairvalue, with any changes recognised in the statement 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 evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial artivities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significanc these are assessed individually for impairment. other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal doe5 not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Definèd contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised a5 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 ot the reporting date in which the employees render the related Service, the liability is measured on a discounted present value basis. The unwinding ofthe discount is recognised as an expense in the period in which it arises. Limited by guarantee North West Methodist Mission is a company limited by guarantee and accordingly does not have a share capital. Every member of the 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 he or she ceases to be a member. 22
North West Methodist Mission Company Limited by Guarantee Notes to the Financial Statements {continuedJ Year ended 31 December 2023 Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2023 Donations Clooney church donations- restricted Clooney church donations- unrestricted Mission donations 21,181 21,181 21,181 21,181 Unrestncted Funds Restricted Total Funds Funds 2022 Donations Clooney church donations- restricted Clooney church donations- unrestricted Mission donations 1.696 1,696 50,402 19,927 50,402 19,927 70,329 1.696 72,025 Charitable activities Unrestricted Funds Restricted Totsl Funds Funds 2023 Grant income- Supporting People Grant income- W.H.S.C.T. Hostel accommodation & personal charges Room hire & related income Facilities rental Project & activities income 893,706 893,706 92,010 550,696 30,540 92,010 550,696 30,540 3,432 31,516 34,949 676,678 925.222 1,601,901 Unrestricted Funds Restricted Total Funds Funds 2022 Grant income- Supporting People Grant income- W.H.S.C.T. Hostel accommodation & personal charges Room hire & related income Facilities rental Project & activities income 884,504 884,504 84,893 488,665 32,092 11.000 60,366 84,893 488,665 32,092 11,000 40,520 19.846 657,170 904,350 1,561,520 23
North West Methodist Mission Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 December 2023 Other trading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Fundraising events Provision of support services 4.345 103 4,345 103 2,412 3,926 2.412 3.926 4,448 4,448 6,338 6.338 Investment income Unrestricted Total Fund5 Unrestricted Total Funds Funds 2023 Funds 2022 Income from listed investments Income from cash investment5 1.958 7,511 1,958 7,511 4,254 1,976 4,254 1,976 9,469 9,469 6,230 6,230 Costs of other trading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Fundraising costs 347 347 50 50 10. Expenditure on charitable activities by fund type Unrestricted Funds Restricted Total Funds Funds 2023 Clooney Church Clooney Hall activities General charitable Clooney Church Homeless Services Support costs 60,576 47,471 123,608 443,973 48,765 60,576 47,471 123,608 1,417,350 66,364 973,377 17,598 724,393 990,975 1,715,369 Unrestricted Funds Restricted Total Funds Funds 2022 Clooney Church Clooney Hall activities General charitable Clooney Church Homeless Services Support costs 1.696 1,696 58,916 81,765 32,901 1,311,783 103,949 58,916 81,765 32,901 368,541 58,971 943,244 44,976 601,094 989,916 1,591,010
North West Methodist Mission Company Limited by Guarantee Notes to the Financial Statements (eontlnued) Year ended 31 December 2023 11. Expenditure on charitable activities by activity type Activities undertaken Grant funding directly of activtties Support Total funds Costs 2023 Total fund 2022 Clooney Church Clooney Hall activities General charitable Clooney Church Homeless Services Governance CDStS 1.696 59.011 83.637 75,493 1,359.290 11,883 60,576 47,471 95 381 60,671 47,852 123,608 1,464,635 18,603 123,608 1,417,350 47,285 18,603 1.525.397 123.608 66,364 1,715,369 1,591,010 12. Analysis of 5UPPQrt Costs Support costs Total 2023 Total 2022 Finance costs Governance costs Other Support costs 971 18,602 46,791 971 18,602 46,791 1.152 11,883 90,914 66,364 66,364 103,949 13. Net (expenditure)lincome Net (expenditurellincome is stated after chargingl(crediting).' 2023 2022 Depreciation of tangible fixed assets Fees payable for the audit of the financial statements 7,069 11,670 6,761 9.130 14. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows- 2023 2022 Wages and salaries Social security costs Employer Contributions to pension plan5 1.035.608 79,762 24,568 948,082 76,812 24,111 1,139,938 1,049,005 The average head count of employees during the year was 44 (2022.. 45). The average number of full-time equivalent employees during the year is analysed as follows, 2023 2022 Number af staff 44 45 25
North West Methodist Mission Company Limited by Guarantee Notes to the Financial Statements (contlnuedj Year ended 31 December 2023 14. Stsff costs (continued) The number of employees whose remuneration forthe year fell within the following bands, were.. 2023 2022 £60.000 to £69,999 Key Management Personnel Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £228,304 (2022:£187,401). 15. Trustee remuneration and expenses No expense5, remuneration or other benefits from employment with the charity or a related entity were received by the trustees. 16. Tangible fixed assets Fixtures and fittings Motor vehicles Equipment Total Cost At 1 January 2023 Additions 96,343 8.688 20,125 25,162 399 141,630 9,087 At 31 December 2023 105,031 20,125 25,561 150,717 Depreciation At 1 January 2023 Charge for the year At 31 December 2023 82,875 6,082 20,125 23,685 987 126,685 7,069 88,957 20,125 24,872 133,754 Carytng amount At 31 December 2023 16,074 889 16,963 At 31 December 2022 13,468 1,477 14,945 17. Debtors 2023 2022 Trade debtors Prepayments and accrued income other debtors 10,553 60,192 15,358) 65,387 9,639 43,163 4,550 57.352 26
North West Methodist Mission Company Limited by Guarantee Notes to the Financial Statements {continuedJ Year ended 31 December 2023 18. Investments 2023 2022 Listed investments Unlisted investments 41,860 606,968 41.649 615,349 648,828 656,998 19. Cash and cash equivalents Cash and cash equivalents comprise the following- 2023 2022 Cash at bank and in hand Bank overdrafts 949,471 {5,439) 944,032 956.090 (536) 955.554 20. Credltors: amounts falling due within one year 2023 2022 Bank loans and overdrafts Trade creditors Accruals and deferred income Social security and other taxes Other creditors Other creditors 5,439 61,523 44,042 27.599 48,092 24.368 536 40,468 26,359 31,040 48.742 17,321 211,063 164,466 21. Pensions and other post retirement benefits Deflned contribution plans The amount recognised in income or expenditure as an expense in relation to defined contribLrtion plans was £24,568 (2022: £24,111). 27
North West Methodist Mission Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 December 2023 22. Analysis of charitable funds Unrestricted funds At Gains and 31 Dec 202 losses At l Jan 2023 Income Expenditure Transfers General funds Revaluation reserve Designated fund- Clooney Church Designated fund- Homeless seNices 680.321 69,070 (60.923) 688,468 27,384 27,384 123,608 (123.608) 647,634 642,706 (540,209) (33,025) (124,740) (33,025) 717.106 1,451,563 711.776 27,384 1,432,958 At Gains and 31 Dec 202 losses At 1 Jan 2022 Income Expenditure Transfers General funds Revaluation reserve Designated fund - Clooney Church Designated fund- Homeless services 718,815 85,915 (124,200) (209) 680,321 126,602 209 (126,811) 130,717 68,434 (75,543) 123,608 556,347 585,718 (401,401) 193,030) 1601,144) 193,030) (126,811) 1,451,563 647,634 1,532,481 740,067 28
North West Methodist Mission Company Limited by Guarantee Notes to the Financial Statements (continuedj Year ended 31 December 2023 22. Analysis of charitable funds (continued) Restricted funds At Gains and 31 Dec 202 losse5 At 1 Jan 2023 Income Expenditure Transfer5 Restricted Fund - Clooney Church Restricted Fund - Homeless services 69,356 925,222 (990,9751 (990,975) 33,025 36,628 69,356 925.222 33.025 36.628 At Gains and 31 Dec 202 losses At 1 Jan 2022 Income Expenditure Transfers Restricted Fund - Clooney Church Restricted Fund - Homeless services 1,696 (1,696) 60,196 904.350 (988,220) (989,916) 93,030 69,356 60,196 906,046 93,030 69,356 23. Analysis of net assets between funds Unrestricted Funds Restricted Totsl Funds Funds 2023 Tangible fixed assets Investments Current assets Creditors less than l year Net assets 16,963 648,828 978,230 (211,0631 1.432,958 16,963 648,828 1,014,858 (211,063) 1,469,586 36,628 36,628 Unrestricted Funds Restricted Total Funds FLJnds 2022 Tangible fixed assets Investments Current assets Creditors less than 1 year Net assets 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 29
North West Methodist Mission Company Limited by Guarantee Notes to the Financial Statements (contlntsedj Year ended 31 December 2023 24. Financial instruments The carrying amount for each category of financial instrument is as follows.. 2023 2022 Financial assets that are debt instruments measured at amortised cost Financial asset5 that are debt instruments measured at amortised cost 1,756,975 1,610,513 Financial liabilities measured at amortised cost Financial liabilities measured at amortised cost 66,964 40,992 25. Analysis of changes in net debt At At 1 Jan 2023 Cash flows 31 Dec 2023 Cash at bank and in hand Bank overdrafts Current asset investments 956,090 {536) 656,998 (6,619) (4.903) (8,170) 119,692) 949,471 (5,439) 648,828 1,592,860 1,612.552 26. Related parties During the year the charity entered into the followng transacts'ons with related parties-. Balance owed byl(owed tol Transaction value 2023 2022 2023 2022 Payment in respect of church assessment contributions Payment in respect of pastoral support Receipts in respect of administration expenses recharged 36,570 30,180 42,313 21,730 1103) (1,918) 38 As detailed above, during the year North West Methodist Mission made payment5 to and reiVed amounts from the Londonderry, Inishowen, Limavady and Strabane Mission Circuit. an organisation which is also govemed by the Methodist Church in Ireland and which has some officials who are also directors of North West Methodist Mission. North West Methodist Mission is under the direction of the Methodist Church in Ireland. During the year the Methodist Church in Ireland continued to invest funds with Epworth Investment Management on behalf of the company. At the year end these funds were valued at £606,968 (2022= £642,522). 27. Ethical 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. 30