Scripture Union (Northern Ireland) Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2024 2024 Restricted funds Total funds Total funds 2023 Unrestricted funds Note Income and endowments Donations and legacies Charitable activities Other trading activities Investment incom8 Other income 490.144 252.087 8,010 15,350 35,175 344,307 834.451 252,087 8,010 15.350 35.175 644.063 226,875 8,842 2,046 12,922 Total income 800,766 344.307 1,145.073 894,748 Expendituro Expenditure on raising funds: Costs of other trading activities Expenditure on charitable activilies Total expenditure 10 11 15,775 733,569 749.344 15.775 1,010,389 1.026,164 16,777 966,035 982,812 276,820 276.820 Net incomel(expenditure) 51.422 67.487 118.909 (88,064) Transfers between funds 50.829 (50.829) Net movement in funds 102.251 16,658 118.909 (88,064) Reconclllatlon of funds Total funds brought forward Total funds carried forward 1,591.900 1,694,151 257,677 1.849,577 1.937,641 274,335 1.968,486 1.849,577 Th8 Stat8ment of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. Tho notes on pages 21 to 32 form part of these financial statements. 18
Scripture Union (Northern Ireland) Company Limited by Guarantee Statement of Financial Position 31 March 2024 2024 2023 Noto Flxed assets Tangible fixed assets 16 1,182,470 1,194.196 Current assets Stocks Debtors Cash Investments Cash at bank and in hand 17 18 19 400 12,240 325,000 497,685 400 9.082 274.982 389,151 835,325 673,615 Credltors: amounts falling due within one year Net current assets 21 49,309 18.234 786,016 655.381 Total assets less current Ilabllltles 1.968,486 1,849,577 Net assets 1.968,486 1,849.577 Funds of the charity Restricted funds Unrestricted funds 274,335 1,694,151 22 1,968,486 257,677 1,591,900 1.849.577 Total charity funds 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 12 November 2024, and are signed on behaw of the board by: R Craig Trustee The notes on pages 21 to 32 fom part of those ftnan¢lal statements. 19
Scripture Union (Northern Ireland) Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2024 2024 2023 Notg Cash flows from operatlng actlvltles N8t incomel(expenditure) 118,909 (88,064) Adjustments for.. Depreciation of tangible fixed assets Other interest reGeivable and similar income Interest payable and similar charges Accrued expensesl(income) 14.140 (15.350) 2,402 33.372 17,615 (2,046) 1,938 (6,001) Changes In." Trade and other debtors Trade and other creditors (3.158) (1.203) 149,112 294,675 140 Cash generated from operations 218,257 Interest paid Interest received (2.402) 15.350 (1,938) 2,046 Net cash from operating activities 162,060 218,365 Cash flows from Investing activlties Purchase of tangible assets Net cash used in investing activities (2.414) (2,414) {16,801) (16,801) Cash flows from flnanclng actlvltles Proceeds from borrowings Net cash (used inyfrom financing activities (1,094) (1,094) 2,333 2,333 Net Increasè In cash and cash èquivalènts Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 158,552 664.133 203,897 460,236 20 822,685 664,133 The notes on pages 21 to 32 form part of these financial statements. 20
Scripture Union (Northern Ireland) Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2024 General infomiation The charity is a public b8nefit entity, and a private company limited by guarant88. registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is Bee¢hill 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 Ststernent 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. Accountlng pollcles 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 expenditu. The financial Statements are prepared in sterling, which is the functional currency of Ihe entity. Going concern There are no material UnrtaIntieS about the charity's ability to continue. Judgements and key sources of estimation uncertalnty The preparation of the financial statements requires management to make judgements, 8Stimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on exp8rience and other factors. including expectations of future events that are believed to be reasonable under the circumstances. Fund accountlng Unrestricted funds are available for use at the dlscretion of the trustees to further any of the charivs 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 th8 terms of an appeal. and fall into one of two sub-classes= restricted income funds or endowment funds. 21
Scripture Union (Northern Ireland) Company Limited by Guarantee Notes to the Financial Statements (contlnuedj Year ended 31 March 2024 Accounting policies (continugd) 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 reIpt is probable and entitlement is eslabllshed. 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 Ihe supply of seNices 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 purp05e and returned rf unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recogni5ed on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered. and is classified under headings of the statement of financial activities to which it relates: expenditure on raising funds includes the ¢osts of all fundraising activities, 8vents, non-charitable trading activities. and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activilies that further its charitable aims for the benefit of its beneficiaries. including those support costs and costs relating to the govemance 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 actNfties. All costs are allocated to expenditure categories reflecting the use of the rasource. Direct costs altributable to a single activity are allocated directly to that activty. 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 temi. on a straight-line basis. 22
Scripture Union (Northern Ireland) Company Limited by Guarantee Notes to the Financial Statements f¢ontInu) Year ended 31 March 2024 Accounting policies (contlnuedj Tanglble assets Tangible assets are initially recorded at cost. and subsequently stated at cost less any acLumulated 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 Ihe carying 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 wilhin 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 cas8 the loss is shown within other r8cognis8d gains and Ioss8s on th8 Statement of financial activities. Depreclatlon Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic lrfe of that asset as follows: Freehold prop8ty Ftxtures and fittings Equipment 2Vo Straight line 250/0 reducing balance 100/0 reducing balance Impairment of fjxed assets A review for indicators of impaimient is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value eXedS th8 recoverable amount. the asset is impaired accordingly. Prior impairments are also reviewed for possible rev8rsal at each r8POrting date. For the purposes of impairment testing, when it is not possible to estimate the recov8rable 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 infiows 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-gen8rating 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. stocks stocks are measured at the lower of cost and eslimaled s811ing price less costs to complete and S811. Cost includes all costs of purchase. costs of conversion and other costs incurred in bringing the stock to its present location and condition. 23
Scripture Union (Northern Ireland) Company Limited by Guarantee Notes to the Financial Statements (contlnuedj Year ended 31 March 2024 Accountlng policies (¢onlinu8d) Flnancial instruments A financial asset or a financial liability is recognised only when the charity becomes a paty to the contractual provisions of the instrument. Basi¢ financial instruments are initially re¢ognised at the amount receivable or payable including any related transa¢tion costs. Current assets and current liabilities are subsequently measured at the cash or other Consideration expected to be paid or reiVed and not di5Gounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicty traded or their fair value can otherwise be measured reliably. the investment is subsequently rneasud at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measurèd 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 instrument. 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 impaiment loss is recognised under the appropriate heading in the ststement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and oth8r 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 immèdiately. to th6 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. Limited by guarantee Scripture Union is a company limited by guarant88 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.
Scripture Union (Northern Ireland) Company Limlted by Guarantee Notes to the Financial Statements (eontlnu•d) Year ended 31 March 2024 Donatlons and legacies Unrestricted Funds Restricted Total Funds Funds 2024 Donations Donations E3 Project Intemational Projects 320,323 320,323 344,307 10.197 344,307 10,197 Legacies Legacy 159.624 159,624 490.144 344,307 834.451 Unrestrlcted Funds Restricted Total Funds Funds 2023 Donations Donations E3 Project Intemational Proj&cts 253,571 253.571 295,347 16.573 295.347 16.573 Legacies Legacy 78,572 78.572 348,716 295.347 644.063 Charitable activities Unrastricted Total Funds Unrestrictad Total Funds Funds 2024 Funds 2023 Camps and Mlssions Special Events and Training 250.131 1.956 250.131 1.956 219,227 7,648 219,227 7,648 252,087 252.087 226,875 226,875 Olher trading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Shop incom8 8,010 8.010 8,842 8.842 25
Scripture Union (Northern Ireland) Company Limited by Guarantee Notes to the Financial Statements (contlnuedj Year ended 31 March 2024 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank interest 15,350 15.350 2.046 2,048 Other Income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Rent 35,175 35,175 12.922 12,922 10. Costs of other trading actlvitles Unrestricted Total Funds unstrICted Total Funds Funds 2024 Funds 2023 Shop costs 15,775 15,775 16.777 16,777 11. Expenditure on charitable activitles by actlvlty type Activities undertaken directly Support costs Total funds 2024 Total fund 2023 To promote the word of God Govemance Gosts 793.031 207.140 10.218 1,000.171 10.218 959,944 6,091 793.031 217.358 1,010.389 966,035 12. General support Analysls of Support Costs Total 2024 Total 2023 Staff costs Premises Communications and IT General office Human resourcas Governance costs 51.676 62.154 24.409 58.288 10.613 10.218 51,676 62,154 24,409 58,288 10,613 10,218 59,004 53.791 19.197 70.203 10.881 6.091 217.358 217,358 219,167 26
Scripture Union (Northern Ireland) Company Limited by Guarantee Notes to the Financial Statements (contlnuedj Year ended 31 March 2024 13. Net incomel{expenditure) Net incomel(exp8nditure) is stated after chargingl(¢rediting): 2024 2023 Depreciation of tangible fix8d assets Operating lease rentals Fees payable for the audit of the financial statements 14.140 17,615 64 4,153 7.816 14. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows: 2024 2023 Wages and salaries Social Security Costs Pension Costs 506.941 40.602 15,689 478.862 36,615 14,279 563,232 529.756 The average head count of employees during tha year was 26 (2023: 25). The average number of full-time equivalent employees during the year is analysed as follows: 2024 2023 Number of staff 26 25 No employee received employee benefits of more than £60,000 during the year (2023: Nil). 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 Gompensation paid to key management personnel for services provided to the charity was £91,268 (2023:£86,065). 15. Trustee remuneration and expenses The charity trustees were not paid or received any other benefits from employment wlth the Charity in the year (2023: £Nil). No charity truste8 r8C8IV8d payment for professional or other services supplies to the charity (2023: £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 totsl £91.268 (2023: £86,065). 27
Scripture Union (Northern Ireland) Company Limited by Guarantee Notes to the Financial Statements (contlnuedj Year ended 31 March 2024 16. Tangible fixed assets Freehold property Fixtures and fittings Equipment Land Total Cost At 1 April 2023 Additions 365.305 1,560 807.500 83,053 854 120,360 1,376.218 2.414 At 31 March 2024 366,865 807,500 83.907 120.360 1,378.632 Depreciation Al 1 April 2023 Charge for the year At 31 March 2024 14.612 7,337 21.949 66,283 1,313 101.127 5.490 182.022 14.140 67,596 106,617 196,162 Carrying amount At 31 March 2024 344.916 807.500 16,311 13.743 1,182.470 19.233 1,194,196 At 31 March 2023 350.693 807.500 16,770 17. Stocks 2024 2023 Finished goods and goods for resale 400 400 18. Debtors 2024 2023 Trade debtors other debtors 31 12,209 31 9,051 12,240 9,082 19. Cash Investments 2024 2023 Short-term deposits 325.000 274.982
Scripture Union (Northern Ireland) Company Limlted by Guarantee Notes to the Financial Statements (ContInd} Year ended 31 March 2024 20. Cash and cash equivalents Cash and cash equivalents comprfse the following.. 2024 2023 Cash at bank and in hand Short-term deposits 497.685 325.000 389,151 274,982 822,685 664.133 21. Creditors: amounts falling due wlthln one year 2024 2023 Bank loans and overdrafts Trade creditors Accruals and deferred incom8 Social security and other taxes 1.239 2,333 1,564 6,850 7,487 40,222 7,848 49,309 18.234 22. Analysls of charitablo funds Unrestricted funds At 1 April 2023 At Transfers 31 March 2024 Income Expenditure General funds Capitsl Building Funds 1,441,526 150.374 800,766 (749,344) 50,829 1,543.777 150.374 1,591.900 800,766 {749.344) 50,829 1,694.151 At 1 April 2022 At Transfers 31 March 2023 Income Expenditure General funds Capitsl 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 The totsl designated fund 'Capital Building Funds, is in relatlon to the major roof repaiTS and change of all lighting to LED panels for the building, with work to be completed by March 2026. 29
Scripture Union (Northern Ireland) Company Limited by Guarantee Notes to the Flnanclal Statements (¢ontlnuod) Year ended 31 March 2024 22. Analysis of charitable funds (¢ontlnued) Restricted funds At 1 April 2023 At Transfers 31 March 2024 Income Expenditure E3- East Belfast E3- North Coast E3- Ballymena E3- North Down E& Antriml Lisbum E3- South East Antrim E3- Femianagh Camps Support a Child Project E3 - Omagh and Castlederg E3 - North West E3 - North Belfast 33,269 12.682 31,802 35,489 34,069 43.573 37.121 34.379 32.063 32,538 40,227 (21,123) (29.680) (30,958) (27.976) (28,754) (27,605) (32,779) {5,280) {5.280) (5,280) {5.280) (3,309) {5.280) (5,280) 40,935 21.295 32,685 36.612 27,122 28,677 26.775 30,845 1,665 1,665 31,872 30,076 28,389 (21,100) (29,374) (27,471) (276,820) (5.280) (5.280) (5.280) {50.829) 5.492 34.633 43,398 39.211 47,760 257.677 344,307 274.335 At 1 April 2022 At Transfers 31 March 2023 Income Expenditure E3- East Belfast E3- North Coast E3- Ballymena E3- North Down E3- Antriml Lisbum 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) {27,681) (26,198) (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) (273,944) (3,701) (5.280) (5,280) {47,375) 39,211 47.760 257.677 283,649 295.347 Fund transfers repsent amounts contributed from each E3 Project area towards central costs. 30
Scripture Union (Northern Ireland) Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2024 23. Analysis of net assets between funds Unr6Stricled Funds Restricted Total Funds Funds 2024 Tangible fixed assets Current assels Creditors less than 1 year Net assets 1,182,470 560.990 (49,275) 1.694,185 1,182,470 835,325 (49,275) 1.968.520 274.335 274,335 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 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 2023 Cash flows 31 Mar 2024 Cash at bank and in hand Debt due within one year Current asset investments 389.151 (2.333) 274.982 108.534 1.094 50,018 159.646 497.685 (1.239) 325.000 661.800 821,446 26. Contingencies A contingent liability exists to repay grants and Trust monies received should certain conditions not be fulfilled by the charity. In the opinion of the Trustees. the terms of th8 Letters of Offers have been, or will be, complied with and no liability is expected. 27. Related partles There were no related party transactions during the year. 31
Scripture Union (Northern Ireland) Company Limited by Guarantee Notes to the Financial Statements (eontlnuedj Year ended 31 March 2024 28. Ethical standards In common with many other businesses of our size and natur8 we use our auditors to prepar8 and submit returns to the tsx authorities and assist with the preparation of the financial statements. 32
Scripture Union (Northern Ireland) Company Limited by Guarantee Management Information Year ended 31 March 2024 The following pages do not form part of the financial statemenls. 33
Scripture Union (Northern Ireland) Company Llmited by Guarantee Detslled Statement of Financial Activities Year ended 31 March 2024 2024 2023 Income and endowments Donations and legacies Donations E3 Project International Projects Legacy 320.323 344.307 10.197 159,624 253.571 295,347 16.573 78,572 644,063 834,451 Charitable activities Camps and Missions Special Events and Training 250.131 1.956 219.227 7,648 226.875 252.087 Other tradlng activities Shop income 8,010 8,842 Investment income Bank interest 15.350 2,046 Other income Rent 35,175 12.922 Total income 1,145,073 894.748
Scripture Union (Northern Ireland) Company Llmlted by Guarantee Notes to the Detailed Statement of Financial Activities Year ended 31 March 2024 2024 2023 Costs of other trading activities - Shop costs Shop costs - purchases Shop costs - wages and salaries 6.493 9.282 8,239 8,538 15,775 16,777 Costs of other trading activities 15,775 16.777 35
Scripture Union (Northern Ireland) Company Limited by Guarantee Notes to the Detailed Statement of Financial Activities (contlnuedj Year ended 31 March 2024 2024 2023 Expenditure on charitable activities To promote the word of God Activities undertaken directly School Costs E3 District Costs Camps and Missions Staff Travel and other expenses 134,653 334.642 305.848 17,888 115,133 325,935 291.157 14.643 793.031 746.868 Support costs Wageslsalaries Leasing Rent & Water Light & Heat Repairs & Maintenance Insurance Legal and professional fe8S Telephone Printing, Postage and Stationery Depreciation Subscriptions Cleaning Computer Costs Training General Costs Payments to British Isles Regional Council Advertising Payments to St Petersberg Ministy development 51,676 59.004 3,583 20,939 7,900 25,637 2,775 10,320 24,514 14,140 325 4,095 14,089 695 1,301 1,080 8.815 9,934 5.322 207.140 254 19.046 4,697 23.961 (1,172) 9.659 37.345 17,615 325 5,769 9,538 495 100 2.461 7,925 15,990 213.076 Governance costs Audit fees Bank Charges 7.816 2,402 10,218 4.153 1.938 6.091 Expenditure on charftable actlvltles 1,010,389 966.035 Net income/{exp8nditur8) 118,909 (88,064) 36