Company Regi8tration Number . N1041911 Thomhill Ministrles Ltd Flnancial Statements and Trustees, Report for the year ended 30 June 2024
Thomhill Ministries Ltd Company limited by guarantee Contents Page Legal and Administrative InfoMiatn Trustees, Report Independent Examinerfs Report Statement of Financial Activities for the year ended 30 June 2024 Statement of financial posib'on as at 30 June 2024 Notes to the Accounts 9-13
Thornhill Ministries Ltd Company limited by guarantee Legal and Administratlve Infomiatlon Status . The organisation is a charitable company limited by guarantee, Incorporated on 9 November 2001 and is recognised as a charity by Revenue & Customs. The goveming document is Articles of Association. Dlrectors . Mr Pat McLaugttlin (Chairperson> Sister Perpeiua McNulty Mrs Anne Maccrossan Mrs Deirdre McDowell Sister Margat Tracey Miss Mary Devine Miss Helen McNicholl Company Secrntary . Mrs Anne Maccrossan Accountants . Dohety & Co Accountants Ltd Chartered Certified Arxountants The Amp 11 Ebrington Square Dery BT47 6FA Main Bankers . AI8 INI) Meadowbank Strand Road Dery BT48 7TN Sollcltols . Mccartney & Casey 3 Castle Street Derry BT48 6HG Registor•d Office . The Pastoral Centre 164 Bishop Street Derry BT48 6UJ Inland Revenue Charlty Reference Number . XR 27278 Company Number: N141911 Charlty Commlsslon for Northern Ireland Number: NIC105114 Page 1
Thornhill Ministries Ltd Trustees. Annual Report for the Year Ended 30 June 2024 Report of the trustees for the year endlng 30 June 2024 The Directors are pleased to present their annual report together wrth the financral statements of the Charity for the year ended 30 June 2024 which are also prepared to meet the requirnents for a Directors, report and accounts for Companies Act purposes. The financial statements compty with the Charitses Act (Nl) 2022, Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Rep)rting by Charities Ststement of Recommended Practice applicable to charities preparing their accounts In accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019.) The company is govemed by Articles of Associats"on dated 0710312016. The company number is N1041911 and the registerd office is The Pastoral Centre, 164 Bishop Street, Dery, BT48 6UJ. The company is registered Northem Ireland charity - reference NIC 105114. Dlrectorn 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 2024 were as follows.. Mr Pat McLaughlin (Chairperson) Sister Perpetua McNulty Mrs Anne Maccrossan Mrs Debdre McDowell Sister Margaret Tracey Miss Mary Devine Miss Helen McNicholl Mr Colm McGrellis (Resigned 2910112024) Chairfs report The past year saw a full retum to in-person engagements for the Ministn'es, post COVKI. Unfortunately we had to cancel our planned tripped to the Holy Land due to the outbreak of war in Gaza. Our purposes and activities The Objects of the Charity provide for opportunities of prayer, exploration, spirituality and faith formation. The Charity continues to be open to people of faith and. p8cUlarlY. for those seeking contemplative opportunities. The Charity does not exdude those who profess no partjcular belief. In monitoring the objects'ves and planning for our actprfities. the Trustees have consmjered the Charity Commission's guidance on public benefit requirnent (PBR1). We are open to, and actively encourage, the wider community to avail of andlor join with us in opportunities for prayer expenences and for support in Liturgy. Page 2
Thomhill Ministries Ltd Tru8tee8' Annual Report for the Year Ended 30 June 2024 Our volunteers The consistent effort of our volunteers in supporting the Ministries. activities is vital. The Trustees greatly appreciate this support. Efforts in selling Lenten Calendars and creats've craftsvork, as well as the recycling of clothing, help our modest fundraising actIves. Achievements and performance The following programmes We offered durin9 the year: In-Person Church Music Support (Weekly) Sacramental Preparation (Weekly) Sacramental Talks to Parents Pre-confimiation Retreats Post-confirmation Retreats Spiritual Direction {Monthly) One-Day Retreats The Deepening Memory's Gifting Liturgy Training Training of Ministers of Holy Communion Training of Ministers of The Word Training of Pansh Bapts"sm Team Facilitation of Diocesan Synodal Process Facilitation of Review of Parish Pastoral Council One-off Talks to Parish Groups Scripture Guided Prayer Financial review During the year total income of £10,220 was received. Total costs for the year were £7,519. This resulted in a surplus for the year of £2.701. When added to opening reserves of £38,168 it left the Charity with reserves of £40,869 at the year end which are all unrestricted The Trustees were pleased with the results for the year. The reserves at the year*nd were all Unrestrted. Reserves policy and going concern Reseprfes are needed to bridge the gap between the spending and receNing of income and to cover unplanned emergency costs. The Directors consider that reserves of £10,000 are required to meet all costs. The Trustees have reviewed the circumstances of the Chanty and consider that there are adequate funds for the foreseeable future. The Trustees are of the view that the Charity Is a going wncern. Page 3
Thomhill Ministries Ltd Trustees, Annual Report for the Year Ended 30 June 2024 Plans for future perfods The Trustees of the Charity remain passionate about its Objectives and Activities. With a retum to in-person engagements and the efforts being made at Parish level for renewal, the Charity is hopeful of new possibilits"es. The Charity is committed to offering refiective processes for those hungering for spiritual support. Statement of trustees. responsibilities 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 statements in accordance with applicable law and United Kingdom Accounbng Standards (United lQ'ngdom Generalty Accepted Accounting Practice). Company law requires the Twstees to prepare financial statements for each financial year which give a true and fair view of the stste of affairs of the charitsble company and of the profrt 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 Charits'es SORP; make judgements and estimates that are reasonable and prudent.. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements, prepare the financAal statements on the going concem 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 wrth reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial ststements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hen for taking asonable steps for the prevenb'on 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 16 October 2024 and signed on rts behalf by Slster Perpetua McNulty Director 16 October 2024 Page 4
Thomhill Ministries Ltd Company limited by guarantee Independent Examinerfs report to the Charity TnAStees of Thornhill Ministries Ltd Year ended 30 June 2024 We rerort solely to the Charity Trustees on our examinats.on of the accounts for the year ended 30 June 2024. To the fullest extent pemitted by law, we do not accept or assume responsibility to anyone other than Thornhill Ministries Ltd and its Trust&s as a body for our work or for this report. As a practising member fimi of the Chartered Association of Certified Accountants we are subject to its ethical and other professional requirements which are detailed at wvN4.accaglobal.com. Respactlve responslbilltles of charlty trustees and examlner As the Charity Trustees (and also the directors of the company for the purposes of company law) you are responsible for the preparats'on of the accounts in accordance with 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.. xamine the accounts under section 65 of the Charities Act. -follow the procedures laid down in general directK)ns given by the Charity Commission for Northern Ireland under Section 65{9)Ib) of the Chanties Act. -state whether particular matters have come to our attents'on. Bas1$ of Independent examinerfs report We have examined your Charity accounts as required undef Section 65 of the Charities Act and our examination was carried out in accordance Yth the general directions given by the Charity Commission for Northem Ireland under Section 65(9}{b) of the Charities Act. The examination included a review of the accounts.ng records kept by the Charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disck)sures in the &counts, and seeking explanations from you as Charity Trustees concerning any such matters Our role is to stste 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 Charities Act. 2. that the accounts do not accord with those accounting records, 3. that the accounts do not compty with the accounts'ng requirements of Secbon 396 of the Companies Act 2006, the Charities Act and with methods and principles of the Chanties Statement of Recommended Practise applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland. 4. that there is further informats'on needed for a proper understanding of Ihe accounts to be reached. Independent examinerfs statement We have completed our examination and have no concems in respect of the matters {1) to14) above and, in Connecb'on with following the directions of the Charity Commission for Northern Ireland, we have found no matters that require drawing to your attention. Doherty The Amp 11 Ebrlngton Square Derry BT47 6FA Co Accountants Ltd 16 October 2024 Page 5
Thornhill Ministries Ltd Company limited by guarantee Statement of Financial Activities (includlng income and expendlture account) for the Year Ended 30 June 2024 Unrestricted Restrlcted Funds Funds Totals 2024 Totals 2023 Notes Income Donations and legacies Income from other trading acts'vits'es 703 9,517 703 9,517 630 7,913 Totsl 10,220 10,220 8,543 Expenditure Charitable activities Cost of raising funds 2.940 4,579 2,940 4,579 2,128 1,668 Total 7,519 7,519 3,796 Net income 2,701 2,701 4,747 Net movement in funds 2.701 2,701 4,747 Reconclllatlon of funds Total funds brought forward at 1 July 2023 38,168 38,168 33,421 Total funds camed fop+%Brd at 30 June 2024 40,869 40,869 38,168 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. Pago 6
Thomhill Ministries Ltd Company limited by guarantee Balance Sheet as at 30 June 2024 Unrestricted Restricted Funds Funds Totals 2024 Totals 2023 Notes Flxed A88ets Tangible Assets Current Assets Cash at bank and in hand Total current assets 41.809 41,809 41.809 41,809 53.863 53,863 Credltors: amounts falling due wlthln one year (940) {940} (15,695) Net current assets 40,869 40,869 38,168 Total a88ets less current Ilabllltles 40.869 40,869 38,168 Creditors: amounts falling due after one year Net assets 40,869 40,869 38,168 The Funds of the Cha Funds 40,869 40,869 38,168 For the year ended 30 June 2024 the company vtss ents'ued to exernptn from audrt under Section 477 of the Companies Act 2006 relating to small companies. Directors responsibilities: The members have not required the company to obtain an audrt 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 accordan 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,. Pago 7
Thomhill Ministries Ltd Company limited by guarantee These financial statements were approved by the Board of Directors and authorised for issue on 16 October 2024, and are signed on behalf of the Board by.. Sister Perpetua McNulty Director Company Registration Number: N1041911 Page 8
Thornhill Ministries Ltd Company limited by guarantee Notes to the financial statements Year ended 30 June 2024 Genernl Infomiatlon The Charity is a private company limited by guarantee, registered in Northem Ireland. The address of the registered Offi is 164 Bishop Street, Dery BT48 6UJ. Accountlng pollcles Basis of preparation The financial ststements have been prepared in accordance with Accounting and Reporting by Charities.. Ststement of Recommended Practice applicable to chanties preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 102) (effective 1 January 2019) - (Charities SORP IFRS 1021), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Thomhill Ministries Ltd meets the definition of a public benefit enb'ty under FRS 102. Assets and liabilities are initsally recognised at historical cost or transactKJn value unless otherwise stated in the relevant accounting policy note(s) Turnover Turnover represents the total value of grants r1Ved and recervable 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. Tangible assets Tangible assets are inib'ally recorded at cost, and are subseqLsently stated at cost less any accumulated depreciation and impaimient losses Depreclatlon 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- 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 tsngible assets, the depreciabon is revised prospectively to reflect the new esbmates. Page 9
Thomhill Ministries Ltd Company limited by guarantee Notes to the financial ststements (continued) Year ended 30 June 2024 Flnancial instruments A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction pnce, unless the arrangement constitutes a financing transaction. where it 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 amorb'sed 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 investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impaimient. Other financial instruments. including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or finand 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 profit or loss, with the exception of hedging instruments in a deSnated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each report]'ng date. If there is objective evidence of impairment, 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 financral assets or either assessed individually or grouped on the basis of similar credit nsk charactenstics Any reversals of impairment are recognised in profit or loss immediatety, to the extent that the reversal does not result in a carying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Limited by guarnntee Thomhill MinBtries Ltd Is a registered charity limrted by guarantee without a share capital. Funds Unrestricted Revenue Funds - compnse those revenue funds which the management committee a free to use in accordan with the C£Jmpany objectives Restricted Revenue Funds - comprise those revenue funds which have been given for particular purposes and projects. Page 10
Thornhill Ministries Ltd Company limited by guarantee Notes to the financial statements (Continued) Year ended 30 June 2024 5. Income Unrestricted Restricted Funds Funds Totals 2024 Totals 2023 Donations and I acies Donations 703 703 630 703 703 630 Income from tradin Fundraising Retreats and courses actFViti08 1,801 7.716 9,517 1,801 7.716 9,517 981 6,932 7,913 Investment and other income Interest received Total 10,220 10,220 8,543 Page 11
Thomhill Ministries Ltd Company limited by guarantee Notes to the fjnancial ststements (continued Year ended 30 June 2024 Expendlture Unrestri¢tsd Restricted Funds Funds Totsls 2024 Totals 2023 Expendituro on charitable activitie8 Insurance Equipment & ststionery Telephone Accountsncy fees Bank interest & charges Subscriptions General expenses 474 829 196 474 829 196 988 315 125 13 2,940 461 116 167 968 248 155 13 2.128 315 125 13 2,940 Expenditurn on cost of raislng funds Ministry sOUrceS Facilitors Venue hire Fundraising costs 2,133 2,133 411 300 773 676 1,126 676 1,126 4,579 4,579 1,668 Total 7.519 7,519 3,796 Tanglble assets Plant and machinery Total Cost At 1 July 2023 3,204 3,204 Depreciation At 1 July 2023 and 30 June 2024 3,204 3,204 Carrying amount At 30 June 2024 At 30 June 2023 Page 12
Thornhill Ministries Ltd Company limited by guarantee Notes to the financial statements (continued) Year ended 30 June 2024 Analysls of charltable funds Analysis of movements in unrestricted funds Balance at Incoming Resources 1 July 2023 Resources Expended Transfers Funds at 30 June 2024 General Fund 38.168 10,220 (7,519) 40,869 38.168 10.220 (7,519) 40,869 Name of unrestrfcted fund Description of the Fund General Funds Funds which the Chanty is able to apply freely in pursuit of its own charitsble objectives and related purposes. Analysis of movements in restricted funds Balance at IncomingResources 1 July 2023 Resource8 Expended Transfers Funds at 30 Juno 2024 Restricted Fund Name of restrlcted fund Restricted Fund Description of tho Fund Funds which the Charity applies for particular purposes and projects in pursuit of its charitable objectNes. Analysis of net assets between funds General Restrlcted Fund Fund Total Fixed Assets Debtors Cash at bank and in hand Creditors 41,809 1940) 41,809 1940) Total 40,869 40.869 Page 13