Scripture Union (Northern Ireland) Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2023 2023 Restricted funds Total funds 2022 Unrestricted funds Totsl funds Note Income and endowments Donations and legacies Charitable activities Other trading activities Investment income Other income 348,716 226,875 8,842 2,046 12,922 295,347 644,063 226,875 8,842 2,046 12,922 894,748 1,674,279 135,766 8,015 484 59,649 Total income 599,401 295,347 1,878,193 Expenditure Expenditure on raising funds.. Costs of other trading activities Expenditure on charitable activities Total expenditure 10 11 16,777 692,091 16,777 966,035 982,812 16,854 769.153 273,944 708,868 273,944 786.007 Net (expenditure)lincome (109,467) 21,403 (88,064) 1,092,186 Transfers beeen funds 47,375 {47,375) Net movement in funds (62,092) (25,972) {88,064) 1,092,186 Reconciliation of funds Total funds brought forward Total funds carried forward 1,653,992 1,591,900 283,649 257,677 1,937,641 845,455 1,849,577 1,937,641 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 financial statements. 16
Scripture Union (Northern Ireland) Company Limited by Guarantee Statement of Financial Position 31 March 2023 2023 2022 Note Fixed assets Tangible fixed assets 16 1,194,196 1.195,010 Current assets Stocks Debtors Cash Investments Cash at bank and in hand 17 18 19 400 9,082 274,982 389,151 673,615 400 303,757 124,975 335,261 764,393 Creditors: amounts falling due within one year Net current assets 21 18.234 21,762 742,631 1,937,641 655,381 1,849,577 Total assets less current liabilities Net assets 1,849,577 1,937.641 Funds of the charity Restricted funds Unrestricted funds 257,677 1,591,900 283,649 1,653,992 1,937,641 Total charity funds 22 1,849,577 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statements were approved by the board of trustees and authorised for issue on 14 November 2023, and are signed on behalf of the board by.. R Craig Trustee The notss on pages 19 to 30 form part of these financial statements. 17
Scripture Union (Northern Ireland) Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2023 2023 2022 Note Cash flows from operating activities Net (expenditure)lincome (88,064) 1,092,186 Adjustments for Depreciation of tsngible fixed assets Other interest receivable and similar income Interest payable and similar charges Accrued (income)lexpenses 17.615 (2,046) 1,938 (6,001) 14,036 {484) 1,643 5,661 Changes in." stocks Trade and other debtors Trade and other creditors 600 (196,734) (1,708) 915,200 294,675 140 Cash generated from operations 218,257 Interest paid I nterest received (1,938) 2,046 (1,643) 484 Net cash from operating activities 218.365 914,041 Cash flows from investing activities Purchase of tangible assets Proceeds from sale of tangible assets Net cash used in investing activities (16,801) 11,180,827) 3,290 (16,801) (1,177,537) Cash flows from financing activities Proceeds from borrowings Net cash froml(used in) financing activities 2,333 2,333 {1,130) (1,130) Net increasel(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 203,897 460,236 (264,626) 724,862 20 664,133 460,236 The notes on pages 19 to 30 form part of these financial statements, 18
Scripture Union (Northern Ireland) Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2023 General information The charity is a public benefit entity and a private Company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is Beechill Business Park. 96 Beechill Road, Belfast, BT8 7QN. 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 1021 (Charities SORP {FRS 10211 and the Companies Act 2006. Accounting policies Basis of preparation The financial ststements 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 of the financial statements requires management to 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 future 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 unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of sub-classes.. restricted income funds or endowment funds. 19
Scripture Union (Northern Ireland) Company Limited by Guarantee Notes to the Financial Statements {continuedJ Year ended 31 March 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 flow to the charity and the amount can be reliably measured. The following 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 impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general 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 ofthe 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 governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity- Shared costs are apportioned beeen the activities they contribute to on a reasonable, justifiable and consistent basis. Operating leases Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis. 20
Scripture Union (Northern Ireland) Company Limited by Guarantee Notes to the Financial Statements (contlnuedj Year ended 31 March 2023 Accounting policies (contlnued) Tanglble assets Tangible assets are initially recorded at cost, 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. 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 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 recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss 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, less its residual value, over the useful economic life of that asset as follows: Freehold property Fixtures and fittings Equipment 2 % straight line 25 % reducing balance 10 % reducing balance 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. IAlhere 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-generating 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. 21
Scripture Union (Northern Ireland) Company Limited by Guarantee Notes to the Financial Ststements (continued) Year ended 31 March 2023 Accounting policies (continued) Stocks Stocks are measured at the lower of cost 2nd estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. 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 atthe cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise 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 recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrLbment. other financial instruments are subsequently measured at fair value, 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 activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, 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 does 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. 22
Scripture Union (Northern Ireland) Company Limited by Guarantee Notes to the Financial Statsments (continued) Year ended 31 March 2023 Limited by guarantee Scripture Union 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. Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2023 Donations Donations E3 Project International Projects 253,571 253.571 295,347 16,573 295,347 16,573 Legacies Legacy 78,572 78,572 644,063 348,716 295,347 Unrestricted Funds Restricted Total Funds Funds 2022 Donations Donations E3 Project International Projects 269,746 269,746 291,592 10,497 291,592 10,497 Legacies Legacy 1,102,444 1,102,444 1,382,687 291,592 1,674,279 Charitable activities Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Camps and Missions Special Events and Training 219,227 7,648 226,875 219,227 7,648 226,875 133,948 1,818 135,766 133,948 1,818 135,766 23
Scripture Union (Northern Ireland) Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 Other trading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Resource income 8,842 8,842 8,015 8,015 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Bank interest 2,046 2,046 484 Other income Unrestricted Funds Restricted Total Funds Funds 2023 Furlough Rates refund Rent 12,922 12,922 12,922 12,922 Unrestricted Funds Restricted Totsl Funds Funds 2022 Furlough Rates refund Rent 20,712 13,039 25,898 46,610 13,039 33,751 25,898 59,649 10. Costs of other trading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Costs of other trading activities - Shop costs 16,777 16,777 16,854 16,854 24
Scripture Union (Northern Ireland) Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 11. Expenditure on charitable activities by activity type Activities undertaken directly Support Total funds costs 2023 Total fund 2022 To promote the word of God Governance costs 746,868 213,076 6,091 219,167 959,944 6,091 762,950 6,203 769,153 746,868 966,035 12. General support Analysis of Support Costs Total 2023 Total 2022 Staff costs Premises Communications and IT General office Human resources Governance costs 59,004 53,791 19.197 70,203 10,881 6,091 59,004 53,791 19,197 70,203 10,881 6,091 57,914 28,993 19,009 59,503 14,082 6,203 185,704 219,167 219,167 13. Net (expenditure)lincome Net (expenditure)lincome is stated after chargingl(crediting)'. 2023 2022 Depreciation of tangible fixed assets Operating lease rentals Fees payable for the audit of the financial statements 17,615 64 4,153 14,036 36 5,140 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 Pension costs 506,941 40,602 478,862 36,615 563,232 529,756 The average head count of employees during the year was 25 (2022.. 25). The average number of full-time equivalent employees during the year is analysed as follows.. 2023 2022 No. Number of staff 25 25 No employee received employee benefits of more than £60,000 during the year (2022-. Nil). 25
Scripture Union (Northern Ireland) Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 14. Staff costs (continued) 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 £86,065 (2022: £82,663). 15. Trustee remuneration and expenses The charity trustees were not paid or received any other benefits from employment with the Charity in the year (2022.. £Nil). No charity trustee received payment for professional or other services supplies to the charity (2022.. £Nil). The key management personnel of the charity comprise the Trustees, General Director and Finance & Operations Manager. The total employee benefits of the key management personnel of the charity total £86,065 (2022= £82,663}- 16. Tangible fixed assets Freehold propety Fixtures and fittings Equipment Land Total Cost At 1 April 2022 Additions 365,305 807,500 81,694 1,359 83,053 104,918 1,359,417 15,442 16,801 120,360 1,376,218 At 31 March 2023 365,305 807,500 Depreciation At 1 April 2022 Charge for the year At 31 March 2023 7,306 7,306 14,612 64,825 1,458 92,276 8,851 164,407 17,615 66,283 101,127 182,022 Carrying amount At 31 March 2023 350,693 807,500 16,770 19,233 1,194,196 At 31 March 2022 357,999 807,500 16,869 12,642 1,195,010 17. Stocks 2023 2022 Finished goods and goods for resale 400 400 26
Scripture Union (Northern Ireland) Company Limited by Guarantee Notes to the Financial Statements fcontinuedj Year ended 31 March 2023 18. Debtors 2023 2022 Trade debtors Other debtors 31 9,051 297 303,460 303.757 9,082 19. Cash investments 2023 2022 Short-term deposits 274,982 124,975 20. Cash and cash equivalents Cash and cash equivalents comprise the ft)Ilowing-. 2023 2022 Cash at bank and in hand Short-term deposits 389,151 274,982 335,261 124,975 664,133 460,236 21. Creditors: amounts falling due within one year 2023 2022 Bank loans and overdrafts Trade creditors Accruals and deferred income Social security and other taxes 2,333 1,564 6,850 7,487 1,184 12,851 7,727 18,234 21,762 27
Scripture Union (Northern Ireland) Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 22. Analysis of charitable funds Unrestricted funds At 1 April 2022 At 31 March 2023 Income Expenditure Transfers General funds Capital Building Funds 1,503,618 150,374 599,401 (708,868) 47,375 1,441,526 150,374 1,653,992 599,401 {708,868) 47,375 1,591,900 At 1 April 2021 At 31 March 2022 Income Expenditure Transfers General funds Capital Building Funds 436,260 150,374 1,560,703 (547,145) 53,800 1,503,618 150,374 1,653,992 586,634 1,560,703 {547,145) 53,800 Restricted funds At 1 April 2022 At 31 March 2023 Income Expenditure Transfers E3- East Belfast E3- North Coast E3- Ballymena E3- North Down E3- Antriml Lisburn E3- South East Antrim E3- Fermanagh Camps Support a Child Project E3- Omagh and Castlederg E3 - North West E3 - North Belfast 31,896 9,591 26,818 43,349 5,899 38,155 27,825 30,196 37,643 36,576 25,542 23,216 20,445 35,740 (23,543) (29,272) (26,312) (28.122} (27,6811 126,198) {29,608) {5,280) {5,280) (5,280) (5,280) (1,434) (5,280) (5,280) 33,269 12,682 31,802 35,489 27,122 28,677 1,665 1.665 3,813 41,110 53,528 26,358 33,352 26,279 (26,470) (29,971) (26,767) {3,7011 {5,280) {5,280) 39,211 47,760 283,649 295,347 (273,9441 (47,375) 257,677 28
Scripture Union (Northern Ireland) Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 22. Analysis of charitable funds (continued) At 1 April 2021 At 31 March 2022 Income Expenditure Transfers E3- East Belfast E3- North Coast E3- Ballymena E3- North Down E3- Antriml Lisburn E3- South East Antrim E3- Fermanagh Camps Support a Child Project E3 - Omagh and Castlederg E3 - North West E3 - North Belfast 25,849 3,308 18,605 45,700 6,914 44,788 20,204 35.952 38,325 29,656 28,474 25,688 20,673 40,031 (23.6251 (26,762) (16,163) (25,545) {21,423) {22,0261 (27,130) (6,280) (5,280) (5,280) {5,280) (5,280} (5,2801 (5,280) 31,896 9,591 26,818 43,349 5,899 38,155 27,825 1,665 1,665 4,550 34,334 52,904 30,239 38,542 29,910 317,490 (25,696) (26,486) (24,006) (238,862) {5,280} (5,280) (5,280) (53,800) 3,813 41,110 53,528 283,649 258,821 Fund transfers represent amounts contributed from each E3 Project area towards central costs. 29
Scripture Union (Northern Ireland) Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 23. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net assets 1,194,196 415.938 (18,234} 1,591,900 1,194,196 673,615 (18,234) 1,849,577 257,677 257,677 Unrestricted Funds Restricted Total Funds Funds 2022 Tangible fixed assets Current assets Creditors less than 1 year Net assets 1,195,010 480,744 {21,762) 1,653,992 1,195,010 764,393 (21,762) 1,937,641 283,649 283,649 24. Taxation The charities activities fall within the exemptions afforded by the provisions of the Income and Corporation Taxes Act 1988. Accordingly, there is no taxation charge in these accounts. 25. Analysis of changes in net debt At At 1 Apr 2022 Cash flows 31 Mar 2023 Cash at bank and in hand Debt due within one year Current asset investments 335,261 53,890 (2,333) 150,007 389.151 (2,333) 274,982 124,975 460,236 201,564 661,800 26. Related parties There were no related party transactions during the year. 30