Company Registration Number . N1041911 Thornhlll Mlnlstrles Ltd Flnanclal Statements and Trustees. Report for the year ended 30 June 2023
Thornhill Minlstries Lld Company limited by guarantee Contents Page Legal and Administrative Information Trustees, Report Independent Examiner's Report Statement of Financial Activities for the year ended 30 June 2023 Staternent of financial position as at 30 June 2023 Notes to the Accounts 9-14
Thornhill Minislries Ltd Company limlted by guarantee Legal and Admlnistratlve Infomiatlon Status The organisalion is a charitable company limited by guarantee, incorporated on 9 November 2001 and is recognised as a charity by Revenue & Customs. The governing document is a Memorandum and Articles of Association. Dlrectors . Mr Pat McLaughlin (Chairperson) Mr Colm McGrellis Sister Perpetua McNulty Mrs Anne Maccrossan Mrs Deirdre McDowell Sister Margaret Tracey Miss Mary Devine Miss Helen McNicholl Company Secretary . Mr Colm McGrellis Accountants . Fergus McAteer & Co. Chartered Accountants 31133 Clarendon Slreel Derry BT48 7ER Maln Bankers . First Trust Bank Meadowbank Strand Road Derry Sollcltors Mccartney & Casey 3 Castle Street Derry Reglstered Offlce . 121 Culmore Road Derry 8T48 8JF Inland Revenue Charlty Reference Number . XR 27278 Company Number . Nl 41911 Charity Commlsslon for Northern Ireland Number: NIC105114 Page 1
Thornhlll Mlnlstrles Ltd Trustees, Annual Report for the Year Ended 30 June 2023 Report of the trustees for the year endlng 30 June 2023 The Directors are pleased to present their annual report together with the financial statements of the Charity for the year ended 30 June 2023 which are also prepared lo meet the requirements for a Directors, report and accounts for Companies Act purposes. The financial ststements comply with the Charities Act (Nl) 2022. Companies Act 2006, the Memorandum and Articles of Association. and Accounting and Reporting by Charities- 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 IFRS102) (effective 1 January 2019.1 The company is governed by a Memorandum and Articles of Association dated 16101107. The company number is N1041911 and the regislerd office is 121 Culmore Road, Derry, BT48 8JF. The company is registered Northern Ireland charity- reference NIC 105114. Dlrectors and trustees The directors of the charitable company {the Charity) are the trustees for the purpose of Charity Law. The Directors during the year and at the 30 June 2023 were as follows.. Mr Pat McLaughlin (Chairperson) Sister Perpetua McNulty Mrs Anne Maccrossan Mrs Deidre McDowell Sister Margaret Tracey Mr Colm McGrellis Miss Mary Devine Miss Helen McNicholl Mr John Herron (Resigned 1511112022> Chalr's report In the past year, there was a relurn to more in-person engagements, while online activities continued. Ministries in churches have not yet returned lo re-pandemic levels but Ihere are signs of new beginnings in in terms of training and reflection. Our purposes and actlvltles The Objects of the Charity provide for opportunities of prayer, exploration, spirituality and faith formalion. The Charity continues to be open to people of failh and, particularly, for those seeking contemplative opportunities. The Charity does not exclude those who profess no particular belief. In monitoring the objectives and planning for our activities, the Trustees have considered the Charity Commission's guidance on public benefit requirement IPBR1). We are open lo and actively encourage the whole community to join with us in our ministries and in our prayer. Page 2
Thomhill Ministrles Ltd Trustees. Annual Report for the Year Ended 30 June 2023 Our volunteers The consistenl effort of our volunteers in supporting the Ministries, activities is vital. The Trustees greatly appreciale this support. Efforts in selling Christmas Cards and creative craftwork, as well as the recycling of clothing, help our modest fundraising activities. Achlevements and performance The following programmes were offered during the year.. In-Person Church Music Support {Weeklyl Vocal Coaching Workshop Sacramental Preparation (Weekly) Sacramental Talks to Parents Pre-confirmation Retreats Post-confirmation Retreats Spiritual Direction (Monthly) One-Day Retreats {August and October) Liturgy Training Training of Ministers of Holy Communion Training of Ministers of The Word Facilitation of Parish Pastoral Council "Going Deeper" Six-week Lenten Course Reflection Gatherings for Prayer Guides Zoom Conferencln Individual Prayer Guidance Oasis Hour5 Scripture Guided Prayer Flnancial review During the year total income of £8,543 was received. Total costs for the year were £3,796. This resulted in a surplus for the year of £4,747. When added lo opening reserves of £33,421 it left the Charity with reserves of £38,168 at the year end which are all unrestricted. The Trustees were pleased with the results for the year. The reserves at the year-end were all unrestricted. Reserves policy and golng concern Reserves are needed to bridge the gap between the spending and receiving of income and to cover unplanned emergency costs. The Directors consider thal reserves of £10,000 are required to meet all costs. The Trustees have reviewed the circumstances of the Charity and consider that there are adequate funds for the foreseeable future. The Trustees are of the view that the Charity is a going concern. Page 3
Thornhlll Mlnlstrles Ltd Trustees, Annual Report for the Year Ended 30 June 2023 Plans for future perlods The Trustees of the Charity remain passionate about its Objectives and Activities. With a return to in-person engagements and the efforts being made at Parish level for renewal, the Charity is hopeful of new possibilities. The Charity is committed to offering reflective processes for those hungering for spiritual support. The time seems right lo re-establish an administralive base. Statement of trustees. responslbllltles The Charity Trustees (who are also the directors of the Thomhill Ministries Ltd for the purposes of company law) are responsible for preparing a Trustees, Annual Report and financial statement5 in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires Ihe Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the profit or loss of the Charity for that year. In preparing these the Trustees are required to.. select suitable accounting policies and apply them consistently., observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed, subiecl 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 company will continue in business. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevenlion and detection of fraud and other irregularities. The report has been prepared in accordance with the special provisions for small companies under part 15 of the Companies Act 2006. The report was approved by the board on 11 October 2023 and signed on its behalf by Slster Perpetua McNulty Dlractor 11 October 2023 Page 4
Thornhill Ministries Ltd Company Ilmlted by guarantee Independent Examlnerfs report to the Charlty Trustees of Thomhlll Mlnlstrles Ltd Year ended 30 June 2023 We report solely to the Charity Trustees on our examination of the accounts for the year ended 30 June 2023. To the fullest extent permitted by law, we do not accept or assume responsibilily to anyone other than Thomhill Ministries Ltd and its Trustees as a body for our work or for this report. As a practising member firm of Chartered Accountants Ireland, we are subject to its ethical and other professional requirements which are detailed at www.charteredaccounlants.ie. Respectlve responslbllltles of charlty trustees and examlner As the Charity Trustees (and also the directors of the company for the purposes of company lawl you are responsible for the preparation of the accounts in accordance wilh the requirements of the Companies Act 2006 and the Charities Act (Northern Ireland) 2008. Having satisfied ourselves that the charity is not subject to an audit under company law, and is eligible for independent examination, it is our responsibility to.. -examine the accounts under section 65 of the Charities Act. -follow the procedures laid down in general directions given by the Charity Commission for Northern Ireland under Section 65(9)Ibl of the Charities Act. -slate whether particular matters have come to our attention. Bas18 of Independént examlner's report We have examined your Charily accounts as required under Section 65 of the Charities Act and our examination was carried oul in accordance with the general directions given by the Charity Commission for Northern Ireland under Seclion 65(9llbl of the Charities Act, The examination included a review of the accounting records kept by the Charity and a comparison of the accounts presented with Ihose records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Charity Trustees concerning any such matters. Our role is to state whether any material matters have come to our attention giving us concern to believe.. 1. that accounting records were not kept as required by with Section 386 of the Companies Act 2006 and Section 63 of the Charilies Act., 2. that the accounts do not accord with those accounting records; 3. that the accounts do not comply with the accounting requirements of Section 396 of the Companies Act 2006, the Charities Act and with methods and principles of the Charities Slalement of Recommended Practise applicable to charities preparing their accounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland. 4. that there is further information needed for a proper understanding of the accounts to be reached. Independent examlnerfs statement We have completed our examinalion and have no concerns In respect of the matters (1) to14) above and, in connection with following the directions of the Charity Commission for Northern Ireland, we have found no matters that require drawing to your attention. Forgus McAt¢or & Co Chartered Accountants 31133 Clarendon Street Derry BT48 7ER CHATffeAED 1 1 OCT 2023 ACCOUNTANTS 11 October 2023 Page 5
Thornhill Ministries Ltd Company Ilmlted by guarantee Statement of Financlal Activltles (Including income and expenditure account) for the Year Ended 30 June 2023 Unrestrlcted Restrfcted Funds Funds Totals 2023 Totals 2022 Notes Income Donations and legacies Income from other trading activities Investment & other income 630 7,913 630 7,913 1,305 9,636 1,465 Total 8,543 8,543 12,406 Expendlture Charitable activities Cost of raising funds 2,128 1,668 2,128 1,668 10,373 680 Totsl 3,796 3,796 11,053 Net Income 4,747 4,747 1,353 Net movement In funds 4,747 4,747 1,353 Reconclllatlon of funds Total funds brought forward at 1 July 2022 33,421 33,421 32,068 Total funds carried forward at 30 June 2023 38,168 38,168 33,421 The statement of financial activities includes all gains and10sses recognised in the year. All income and expenditure derive from continuing activities. Page 6
Thornhill Mlnlstrles Ltd Company Ilmited by guarantee Balance Sheet as at 30 June 2023 Unrestricted Restricted Funds Funds Totals 2023 Totals 2022 Notes Flxed Assets Tangible Assets Current Assets Cash at bank and in hand Total current assets 53,863 53,863 53,863 53,863 34,241 34,241 Credltors: amounts falllng due wlthln one year (15,695) 115,6951 (820) Net current assets 38,168 38,168 33,421 Total assets less current liabilities 38,168 38,168 33,421 Creditors: amounts falling due after one year Net assets 38,168 38,168 33,421 The Funds of the Charlt Funds 38,168 38,168 33,421 For the year ended 30 June 2023 the company was entitled lo exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. Directors responsibilities.. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with Section 476; The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. Page 7
Thornhill Minlstrles Ltd Company Ilmlted by guarantee These financial statements were approved by the Board of Directors and authorised for issue on 11 October 2023, and are signed on behalf of Ihe Board by; Slster Perpetua McNulty Director Company Reglstratlon Number . N1041911 Page 8
Thornhlll Mlnlstrles Ltd Company Ilmlted by guarantee Notes to the flnanclal statements Year ended 30 June 2023 General Inforniatlon The Charity is a private company limited by guarantee, registered in Northern Ireland. The address of the registered office is 121 Culmore Road, Derry, 8T48 8JF. Accountlng pollcles Basls of preparatlon The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective 1 January 2019) (Charities SORP {FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 and the Companies Act 2006. Thornhill Ministries Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). Turnover Turnover represents the tolal value of grants received and receivable as well as other income arising from other operating and fundraising activities during the year. Grants are recognised in the Profit and Loss account when the conditions for their receipt have been complied with and there is reasonable assurance that the grant will be received. Tanglble assets Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Depreclatlon Depreciation is calculated so as to write off the cost or valuation of an asset, less ils residual value, over the useful economic life of that asset as follows.. Plant and machinery 25°/. straight line If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates. Page 9
Thornhlll Mlnlstrles Ltd Company Ilmlted by guaranteè Notes to the flnanclal statements (contlnued) Year ended 30 June 2023 Flnanclal Instruments A financial asset or a financial liability is recognised only when the company becomes a party to the contractL5al provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where il is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the inveslment is subsequently measured al fair value with changes in fair value recognised in profit or loss. 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 interesl that is not a market rate, in which case the assel 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 profit or loss, 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 impairmenl, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance. and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairmenl are recognised in profit or loss 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. Llmlted by guaranteè Thornhill Ministries Ltd is a registered charily limited by guarantee without a share capital. Funds Unrestricted Revenue Funds- comprise those revenue funds which the management committee are free to use in accordance with the company objectives. Restricted Revenue Funds - compnse those revenue funds which have been given for particular purposes and projects. Page 10
Thornhlll Mlnlstrles Ltd Company Ilmlted by guarantee Notes to the flnanclal statements Icontlnued) Year ended 30 June 2023 5. Incoma Unrestrlcted Restrlcted Funds Funds Totals 2023 Totals 2022 Donatlons and le acles Donations 630 630 1,305 630 630 1,305 Income from tradln Fundraising Retreats and courses actlvltles 981 6,932 7,913 981 6,932 7.913 3,502 6,134 9,636 Investment and other Income Interest received JRS Granl 1,465 1,465 Total 8,543 8,543 12,406 Page 11
Thornhlll Mlnlstrles Ltd Company Ilmlted by guarantee Notes to the flnanclal statements (contlnued) Year ended 30 June 2023 Expendlture Unrestrlcted Restrlcted Funds Funds Totals 2023 Tolals 2022 Expendlture on charltable actlvltles Wages & salaries Insurance Postage, stationery & advertising Telephone Accountancy fees Bank interest & charges Subscriptions General expenses Depreciation of FF & Equipment 8,043 710 125 144 926 247 30 13 135 10,373 461 116 167 968 248 155 13 461 116 167 968 248 155 13 2,128 2,128 Expendlture on cost of ralslng funds Ministry resources Facililors Venue hire Fundraising costs 411 300 773 411 300 773 680 1,668 1,668 680 Total 3,796 3,796 11,053 Employee number8 The average number of persons employed by the company during the year amounted to O {2022: 1). Page 12
Thomhlll Ministrles Ltd Company limlted by guarantee Notes to the flnanclal statements Icontlnued) Year ended 30 June 2023 Tanglble assets Planl and machinery Total Cost At 1 July 2022 3,204 3,204 Depreclatlon At 1 July 2022 and 30 June 2023 3,204 3,204 Carylng amount At 30 June 2023 At 30 June 2022 Page 13
Thornhlll Mlnlstrles Ltd Company Ilmlted by guarantee Notes to the financlal statements Icontlnued) Year ended 30 June 2023 Analysls of charltable funds Analysls of movements In unrestrlcted funds Balance at IncomlngResources 1 July 2022 Resources Expended Transfers Funds at 30 June 2023 General Fund 33,421 8,543 (3,796) 38,168 33,421 8,543 (3,796) 38,168 Name of unrestrlcted fund Descrlptlon of the Fund General Funds Funds which the Charity is able to apply freely in pursuit of its own charitable objectives and related purposes. Analysls of movements In re8trlcted funds Balance at IncomlngResources 1 July 2022 Resources Expended Transfers Funds at 30 June 2023 Restricted Fund Name of restrlcted fund Restricted Fund Descrlptlon of the Fund Funds which the Charity applies for particular purposes and pro}ects in pursuit of its charitable objectives. Analysls of net assets between funds General Restrlcted Fund Fund Total Fixed Assets Debtors Cash at bank and in hand Creditors 53,863 (15,6951 53,863 115,695) Total 38,168 38,168 Page 14