COMPANY REGISTRATION NUMBER: N1027217 CHARITY REGISTRATION NUMBER: NIC105253 The Churches, Trust Limited Company Limited by Guarantee Unaudited Financial Statements 31 March 2024 DONALDSON & THOMPSON Chartered Accountants 3 Limavady Road Londonderry BT47 6JU The Churches, Trust Limited Company Limited by Guarantee Flnancial Statements Year ended 31 March 2024 Page Trustees, annual report (incorporating the directors, report) Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements 11 The Churches, Trust Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Dlrectors, Report) Year ended 31 March 2024 The trustees, who are also the directors for the purposes of company law, presenl their report and the unaudited financial statements of Ihe charity for the year ended 31 March 2024. Reference and admintstrative detalls Reglstered charity name The Churches, Trust Limlted Charity registratlon number NIC105253 Company reglstratlon number N1027217 Prlnclpal offlce and reglstered 11 Limavady Road offico Waterside DerrylLondonderry BT47 6JU The trustees Mrs D Rudd- Chair Mr M Agnew- Treasurer Mr B Bell Rev Canon S R Boyd Rev Fr M Canny Mrs J Hetheringlon Rev C Jones Mrs J Miller Mr D McGowan Mr J O'Kane Mr A Rowan Deacon M Skuce (Retired 21 September 20231 Member Trustees Bishop Andrew Forsler Bishop Donal McKeown Rev Stephen Skuce Rev Susan Moore Chlef Executive Mary Holmes Indepet)dent examlner Donaldson & Thompson Chartered Accountants 3 Limavady Road Londonderry BT47 6JU The Churches, Trust Limited Company Limlted by Guarantee Trustees, Annual Report (Incorporating the Directors. Report) {conilnuodJ Year ended 31 March 2024 Structure, governance and management The organisalion is a charilable company limited by guarantee, incorporated on 91h February 1993 and accepted as a charity by HM Revenue & Customs under reference N101212 and registered with the Charity Commission for Northern Ireland on 24th May 2016 under charity number NIC105253. The company was established under a Memorandum of A55ocialion which established Ihe objects and powers of the charilable company and is governed under its Articles ofAssociation. In the event ofthe company being wound up members are required lo contribute an amount not exceeding £5. The Directors are appointed by the Member Trustees, the leaders of the Church of Ireland. Methodist Church, Presbyterian Church. and Catholic Church in the North West area. Each Member Trustee appoints one clergy and Iwo lay people to se￿e as Directors on the Board. The Directors are responsible for the slralegic direction. and the overall management and accountability of the organisation. The Board meet every six lo eighl weeks. Board membership is diverse in Ils representation across communilies and has a broad skills and experlise base, Including financial management, PR, Health & Safety and various community & voluntary sector roles. The Directors delegate responsibility for day-to-day operation5 to the Chief Executive and staff team. The Chief Executive provide5 direct Ilne management for staff employed. The organisation has developed robust systems and procedures for monitoring and evaluating ils work, primarily shaped by the reporting and a¢¢ounlabilily obligations defined by funding bodies, regulatory organisations and various stakeholders. These systems include mechanisms for ongoing review and evaluation and feed directly into report5 lo the Board of Directors, which include the following,, Financial management (including monthly management accounts) Performance results against largets Stakeholder relationship development Regulatory, audit and compliance matlers Policy and procedure development and approval New initiatives Human Resource and olher organisational matters Project I service evaluation and review Prior lo the commencement of the financial year, Ihe board approves a budget that defines the financial parameters and the performance largels lor the year This document is a critical part of the management, monitoring and evaluation of Ihe organisation's performance. The organisation has extensive expertise in managing and claimlng grants bolh of a capital nature and a revenue nature. Objectlves and actlvitles The principal activities and objects ofthe charity as per the company's Memorandum is ' lo promote the benefit of the inhabilanls of the North Wesl of Ireland without distinction of sex or political, religious or other opinion5 by a550ciating the local authorities. churches. voluntary organisations and inhabilanls in a common effort to relieve poverty, sickness and distress and to advance education so as to improve the conditions of life for the said Inhabitants... The Churches. Trust Limited Company Limited by Guarantee Trustees, Annual Report (Incorporatlng the Dlrectors, Report) (conlinuedj Year ended 31 March 2024 Objectives and actlvltles {¢ontinued) Our Vision is.. A cohesive communily without discrimination, disadvantage, or division where people froni all communitie5 and backgrounds can equally contribule. Our Mission is.. Ulilise the strength and determination of local communities to identify, challenge and tackle the causes and impacl of discrimination, disadvantage and division reflecting an elhos of peace, trust, humility and hope which are central to our Christian values. Our work is underpinned by a Trauma Informed Approach and an awareness of Adverse Childhood Experiences, Adverse Communily Environments, and Atrocious Cultural Experiences (ACES). During the last year we have focused on embedding thi5 approach into our work, our slaff training, and our Service delivery. We believe that this is a transformational approach to Peace & Reconcilialion. and lo building stronger, resilient, and more cohesive communities. Specifically. The Churches. Trust Limited aims are., To promote a more iiniled, shared and cohesive sociely working in collaboration with churches, schools, and community and voluntary sector organisalions in the area. To develop and provide quality services Ihat tackle deprivation and disadvantage focusing on social inclusion, equality of opportunity, and improving community relations. To pro-actively enhance and support the economic, social and cultural development of all our communities within the North West region. Church leaders acknowledge that depTivalion and disadvanlage are key barriers lo building a united community. eqLiality ol opportunity and good relations. They recognise their role in presenting a united voice lo help change attitudes and ultimately contribute to moving our community on from conflict to peace. The commitment to addressing issues of social injustice and ineqvalily shapes the main activities of The Churche5' Tru5l Limited, The Churches, Trust Limited through years ofexperience and through established networks of chLtrches and schools. understand the challenges facing the communities we support. We are commilled to addressing issues of justice and inequality. Our work transcends all communities. In the interests of a shared and better future for all we undertake various projects and activities that bring communities together, and that encourage healing, understanding and respect. The charity's trustees have had regard to the Charity Commission for Northern Ireland's guidance on public benefit. Achlevements and perforniance The organisation's activitie5 are shaped by: Identifying, challenging and tackling sectarianism and racism through the delivery of good relations and cohesion programmes. Recognising the ongoing impact of poverty and disadvantage, supporting people and families in need, tackling social determinants of health inequalilies and empowering communities. The Churches, Trust Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directors, Report) (con¢lnuodJ Year ended 31 March 2024 Achievements and perfomiance {conilnuèdJ Our performance and achievements are summarised as follows: Youth training and development programmes focusing on personal and skills development, improving mental health and wellbeing and enhancing life chances. This includes working with marginalised young people who struggle in formal education slructures by providing allemalive opportunities through creative pathways. outdoor learning, and personal development programmes. Developing Women training and support programmes which focus on building self-esteem and confidence, strengthening family supports, and empowering women to take on leadership roles In the community. Interfaith, inler-church community education projects wthich focjjs on the theme of Celebrating Cammonalily,. These projects aim to build a sense of shared community recognising what we have in common as opposed to locusing on what divides us. Low level intervention care services for older people across the city and rural areas of the Derry City & Slrabane District Council. The service is designed lo address isolation and promote independence in the home. On average we provided 620 5UPPOrt hours per month. Services provided include befriending, chaperoning, reminiscing, shopping, domestic duties, dealing with correspondence and appointments. Care & Repair -MaintenancelHandyperson service provided at low cost, affordable rales targeting Older People, low-income families and individuals in areas of deprivation. The service includes cleaning. decluttering, gardening. power washing, fencirsg decorating, gullering, grave maintenance - in summary those tasks that are difficult to source from mainstream maintenance services bul that significantly enhance the mental health and well-being of those in receipt of the service. Addressing food poverty - The Pantry Project and Social Supermarket. The Pantry Project foodbank provides a crisis response lo people experiencing food poverty. We work with an established network of over 30 churches and 12 schools generating food donations through community giving. We work in collaboration with community hubs who work intensively to address the underlying root ause of the crises and signpost people to appropriate services. During this financial year we provided food for over 7,500 people. We have developed our approach to addressing food povety through our Social Supermarket, working with people on Iransformalive solutions that move people from food insecurity on lo addressing ihe determinants of food poverty. The Churches, Trust Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Dlrectors, Report) Iconllnued) Year ended 31 March 2024 Flnanclal revlew The results contained within the Slalemenl of Financial Activities disdose a Nel deficil for the year of £38,891. The Churches, Trust Limiled continues to broaden ils income portfolio by strengthening collaborative working arrangements with partner organisalions and other funding agencies. Public funds and grants received Ihrough the financial year included The Executive Office, Department for Communities. Community Relations Council, Derry City Slrabane Council. Northem Ireland Office, Department of Foreign Affairs Ilrelandl. Education Aulhorily. and Public Health Agency. We are seeking to extend our income portfolio by building Telalionships wilh charitable trusts and now include Charities Aid Foundation, Inner City Trust, SSE Airtricily, Julia and Hans Rausing Trust, Garfield Weston Foundation, Benefacl Trust. The Honourable The Irish Society and Enkalon Foundation as supporters of our work. In January 2024, The Churches. Trust Limited relocated it5 main administration office from 121 Spencer Road to 11 Limavady Road, Waterside. DerylLondondery, BT47 6JU. The impact of this move on the financial results for the year ended 31 March 2024 was £19,590. This includes Capital Costs and Running Costs and contributed to the deficit reported for the year. Recurring costs resulting from relocation will be factored into annual budgels going fotward. This office move represents a strategic opportunily lo present a more inclusive and accessible core facilily with capacity to provide training and developmenl, expand programme delivery, and have a more significant impact on the lives of those most marginalised in our community. Small company provlslons This report has been prepared in accordance vith the provisions applicable lo companies enlilled to the small companies exemplion. The trustees, annual report {incorporating Ihe directors, report) was approved on 17 Oclober 2024 and signed on behalf of Ihe board of Iruslees by: Mrs D Rudd - Chair Truslee MAgn stee Treasurer The Churches, Trust Limited Company Limited by Guarantee Independent Examlner's Report to the Trustees of The Churches. Trust Llmited Year ended 31 March 2024 I report on the financial statements for the year ended 31 March 2024, which comprise the statement of financial activities (including income and expenditure account). statement of financial position and the related notes, Respectlve responslbllltles of trustees and examlnèr The charity's trustees {who are also the direclors of the company for the purposes of company lawl are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006, Having satisfied myself that the charity is not subject to audit under company law, and is eligible for independent examination. it is my responsibility lo.. examine the accounts under section 65 of the Charities Act., lo follow the procedures lald down in the general Directions given by the Charity Commission for Northern Ireland under section 65{9)Ib) of the Charities Act. and to state whether particular matters have come to my altention. Basis of independent examlner's report I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance wlh the general Directions given by the Charily Commission for Northern Ireland under section 65{9}{by 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 those records. It also included consideration of any unusual items or disclosures in Ihe accounts. and seeking explanations from the trustees concerning any such matters. My role is to state whether any material matters have come lo my attention giving me cause to believe.. That accounting records were not kept in accordance with sectlon 386 of the Companies Act 2006 That the accounts do not accord with those accounting records That the accounts do not comply with the accounting requirements of seclion 396 of the Companies Act 2006 and with the methods and principles of the 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. That Ihere is further information needed for a proper understanding of the accounts to be reached. The Churches. Trust Limited Company Limited by Guarantee Independent Examiner's Report to the Trustees of The Churches, Trust Llmlted (continuedj Year ended 31 March 2024 Independent examiner's statement I have completed my examination and have no concems in respect ofthe m811ers {1) to {4) listed abov8 and, iii coiinection with following the Direclions of the Charity Commission for Northern Ireland. I have found no mallers that require drawing to your atlenlion. Since your charity's gr055 Income exceeded £250,000 your examiner musl be a member of a listed body. I can confirm thal l am qualified lo undertake the examination because l am a registered member of Chartered Accountants Ireland which is one of the lisled bodies. Donaldson & Thompson Chartered Accountants Independent Examiner 3 Limavady Road Londonderry BT47 6JU 17 October 2024 The Churches, Trust Limited Company Limited by Guarantee Statement of Flnancial Activities (Including income and expenditure account) Year ended 31 March 2024 2024 Unrestricted funds Total funds 2023 Tol81 funds Note Income and endowments Donations and legacies Charitable activities Investment income 51,958 335.814 5,708 51,958 335,814 6,708 21,352 454,110 2,524 Total income 393.480 393,480 477.986 Expendlture Expenditure on charitable activities Total expend5ture 432,371 432,371 432,371 476,650 432.371 476,650 Net {expendlture)Ilncome and nel movement In funds (38,891) (38,8911 1,336 Reconclllatlon ol funds Total funds brought forward Total funds carried forward 359.204 359,204 357.868 320,313 320,313 359.204 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 11 to 18 fomi part of thè88 flnanclal statements. The Churches. Trust Limited Company Limited by Guarantee Statement of Flnanclal Position 31 March 2024 2024 2023 Note Flxed assets Tangible fixed assels 15 154,890 152,968 Current asset5 Stocks DebtOTS Casli at bank and In hand 16 17 575 55,491 143,803 397 81.046 186.771 199,869 268.214 Credltors: amounts falllng due wlthln one year Net Current assets 18 34,446 61.978 166,423 206,236 Total assels less current Ilabilities 320,313 359,204 Net assets 320,313 359,204 Funds of the charlty Unrestricted funds 320,313 359,204 Total charlty funds 20 320,313 359,204 For the year ending 31 March 2024 the charity was enlilled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilitie5- The members have nol required the company lo obtain an audit of ils finanGlal statenienls for the year in question In 8ccordance with section 476., The directors acknowledge their responsibilities for Complying with the requirements of the Act with respect lo accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable lo companies subject to the small companies, regime. The statement of financial position continues on the following page. The notes on pagey 11 to 18 fomi part of Iho¥e flnanclal 8t8tements. The Churches, Trust Limited Company Limited by Guarantee Statement of Financlal Posltion (conlinuedj 31 March 2024 These financial slalemenls were approved by Ihe board of truslees and authorised for issue on 17 October 2024, and are signed on behalf of Ihe board by.. Mrs D Rudd- Chair Trustee Agn tee Treasurer Company registration number.. The company is a private limited Company limited by guarantee. registered in Northern Ireland. N1027217 The notes on pages 11 to 18 fom part of these financial statement8. 10 The Churches, Trust Limited Company Limited by Guarantee Notes to the Flnancial Statements Year ended 31 March 2024 General Informatlon The charity is a public benefit entity and a private company limiled by guarantee, regi51ered In Northern Ireland and a registered charity in Northem Ireland. The address of Ihe registered office is 11 Limavady Road. Waterside, DerrylLondonderry. BT47 6JU. Statement of compllance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Slandard applicable In the UK and the Republic of Ireland,. the Statement of Recommended Praclice applicable to charities preparing their accounts in accordance with the Finaiicial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 Icliaritie5 SORP IFRS 102)) and the Companies Act 2006. Accountlng pollcles Basls of preparatlon The financial statements have been prepared on the historical c05t ba51s, as modified by the revaluation of certain financial assets and liabilities and investment properiies measured al fair value Ihrough 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 conlinue. Fund accountlng Unrestricted funds are available for use at the d15cretion of the trustees lo further any of the charity's purposes. Designated funds are unrestricted funds earmarked by ihe trustees for particular future project or commilment. Reslricled funds are subjected to re5triclions on their expendilure dedared by the donor or through the lerms ol an appeal, and fall inlo one oftwo sub-dasses.. restricted income funds or endowmenl funds. 11 The Churches. Trust Limited Company Limited by Guarantee Notes to the Flnancial Statements {contlnuodJ Year ended 31 March 2024 AGGountlng pollcles (conlinyed) Incomlng resources All incoming resources are included in the slalement of financial activities when enlitlement has passed lo the charity, it Is probable thal the economic benefits associated with the Iransaction will flow lo the charily and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donation5 or grants is recognised when there is evidence of enlillement to the gift, receipt is probable and ils amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated go¢xls is measured at Ihe fair value of the goods unless this is imprac11cal to nieasure reliably. In which case the value is derived from the cost lo the donor or the eslimaled 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 lo be spent on a particular purpose and returned if unspent. in thich case il may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liabiliiy is incurred. Expenditure includes any VAT which cannot be fully recovered. and is classified under headings of the stalement offinancial activities to which il relate5'. expenditure on raising funds includes the costs of all fundraising aclivilies, events, non- charitable trading aclivilies. and the sale ol donaled goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities Ihal further Its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of ihe charity apportioned lo charilable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of ils expenditure on charitable activilies. All costs are allo¢8led to expenditure calegories reflecting the use of the resource. Direct costs allribulable lo a single activity are allocated direclly to that activity. Shared costs are apportioned between the activities Ihey contribute to on a reasonable. justifiable and consistent basis. Tanglble assets Tangible fixed assets are staled at cosl less accumulated depreciation and accumulated impairment 105s. Cost includes all costs that are direcuy attributable lo bringing the asset inlo working condition for ils intended use. 12 The Churches, Trust Limited Company Limited by Guarantee Notes to the Financial Statements (continue Year ended 31 March 2024 Accountlng pollcles (conllnuod) DeproclatSon Depreciation is calculated so as lo write off the c05t or valuation of an asset, less its residual value, over the useful economic life of that asset as follows.. Property improvements Molor vehicles Equipment 5Q/o reducing balance 250/0 Straight line 250kn straight line Impainnent of flxed assets A review for indicators of impairment 15 Ca￿led out al each reporting date, wilh Ihe recoverable amount being estimated where such indicators exist. ￿￿ere 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 tesling, when it is nol possible to eslimate 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 idenlifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or gfOUPS of assets. For impairment tesling ol goodwll, the goodw'll acquired in a business combination is, from the acquisition dale, allocated to each of the cash-generating units that are expected to benefit from Ihe synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. stocks Stocks are measured al the lower of cost and eslimaled 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. Flnanclal Instruments A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arraiigement conslitules a financing transaction. where il is recognised at the present value of the future payments discounted al a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequenlly measured at the cash or other consideration expected to be paid or received and nol discounted. Where Investments in shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value wilh changes in fair value recognised in incorne and expenditure. Al other such investments are subseqLiently measured at cost less impairment. 13 The Churches, Trust Limited Company Limited by Guarantee Notes to the Financial Statements (conllnued) Year ended 31 March 2024 Accountlng pollcles (conlinuedj Deflned contrlbution plans Contributions to defined contribution plans are recogni5ed as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent Ihal the prepayment will lead to a reduction in future payments or a cash refund. en contributions are nol expected to be settled wholly within 12 months of the end of the reporting dale in which the employees render the related service. the liabilily is measured on a discounted present value basis, The unwinding of the discount is recognised as an expense In the period in which it arises. Llmlted by guarantee The Churches. Trust Limited is a company limited by guarantee and accordingly does not have a share capital. Every member of the company undertakes lo contribule such amount as may be required not exceeding f.5 to the assets of Ihe charitable company in the event of its being wound up while lie or she is a member, or within one year after he or she ceases to be a member. Donatlons and legacles Unrestricted Total Funds Unreslricted Tolal Funds Funds 2024 Funds 2023 Donatlons Donations Donations - The Pantry Project Donations The Churches. Training Company Ltd 5.076 1,882 6,076 1,882 13,795 7.557 13,795 7.557 45,000 45,000 51,968 51.958 21,352 21,352 Charitable actlvitles Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Other income from charitable activities Department of Foreign Affairs,, Reconciliation Fund Charities Aid Foundation Care Services Departmenl for Communities 158,112 158,112 194.105 194,105 33,180 33,180 33,051 100,562 87,274 39,118 33,051 100,562 87,274 39.118 94,532 49,990 94,532 49,990 335.814 335,814 454,110 454,110 14 The Churches, Trust Limited Company Limited by Guarantee Notes to the Financlal Statements (continued) Year ended 31 March 2024 Investment Income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank interesl receivable 5,708 6,708 2,524 2,524 Exp8ndlture on charltable actlvltles by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Care services Other charitable activities The Pantry project Support costs 82,614 184,758 4,529 160,470 82,614 184,768 4,S29 160,470 75,940 195,677 11.219 193,814 75,940 195,677 11,219 193,814 432,371 432,371 476,650 476.650 Expendlture on char5table actlvltles by activity type Activities undertaken directly Support Total funds costs 2024 Total fund 2023 Care services Other charitable activitie8 The Pantry project Governan￿ costs 82,614 184,758 4,529 29,883 86.026 11,863 32,698 112,497 270,784 16,392 32,698 432,371 1D5,198 295,127 20,164 56,161 271,901 160,470 476.650 10. Analysls of support costs Other Charitable Activilies Total 2024 Total 2023 staff costs Finance cosls Governance costs Other costs 125,947 1,302 31.816 1,827 125,947 1,302 31,816 1,827 160,892 134,786 1,344 54,818 2,866 160,892 193,814 11. Net (expendlturelllncome Nel lexpenditure)lincome is stated after chargingl(crediting).' 2024 2023 Depreciation of tangible fixed assets 5,141 4,483 15 The Churches. Trust Limited Company Limited by Guarantee Notes to the Financlal Statements (¢oniinu¢dJ Year ended 31 March 2024 12. Independent examlnatlon fees 2024 2023 Fees payable to the independent examiner for: Independent examination of the financial statements 2,160 2,160 13. 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 Employer contributions to pension plans 250,649 15,666 6,182 258.590 17.022 7,155 282.767 271,497 The average head count of employees durlng the year was 1312023.. 13). The average number of full-time equivalenl employees during the year is analysed as follows.. 2024 No. 2023 Number of staff 13 13 No employee received employee benefits of more than £60.000 during the year12023'. Nil). Key Management Personnel Key management personnel include all persons Ihal have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensalion paid lo key management personnel for services provided lo the Gharity was £43,57212023'.£44,977}. 14. Trustee remuneratlon and expenses No remuneratlon or other benefits from employment with the charity or a related enlity were received by the trustees. 16 The Churches, Trust Limited Company Limited by Guarantee Notes to the Flnancial Statements fconllnuodj Year ended 31 March 2024 15. Tanglble flxed assets Land and buildings Motor vehicles Equipment Total Cost At 1 Apr 2023 Additions 144,786 4.223 3,360 23,708 2,840 171,854 7,063 At 31 Mar 2024 149,009 3.360 26,548 178,917 Depreclatlon At 1 Apr 2023 Charge for the year At 31 Mar 2024 3,352 642 3.360 12,174 4.499 18,886 5,141 3,994 3,360 16,673 24,027 Carrylng amount At 31 Mar 2024 145,015 9,875 11,534 154,890 152,968 At 31 Mar 2023 141,434 16, Stocks 2024 2023 Foodbank stock 675 397 17. Debtors 2024 2023 Trade debtors Grants receivable Other deblors 10,267 42,024 3,210 11,120 69.926 SS,491 81,046 18. Credltoys: amounts falllng due wlthln one year 2024 2023 Bank loans and overdrafts Trade creditors Amounts owed to group undertakings Accruals and deferred income Social security and other taxes Other creditors 2,934 1,246 968 10,456 5,145 13,697 34,446 4,737 1.785 23,454 22,867 5,147 3,988 61,978 17 The Churches, Trust Limited Company Limited by Guarantee Notes to the Flnancial Statements (conllnued) Year ended 31 March 2024 2024 2023 19. PensSons and other post retirement beneflts Deflned contrlbutlon plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £5.18212023. £7.155). 20. Analysls of charltable funds Unrestrlcted funds At 1 Apr 2023 At Income Expendilure 31 Mar 2024 Unrestricted fund- General funds 359.204 393.480 (432,371) 320,313 At 1 Apr 2022 At Income Expenditure 31 Mar 2023 Unrestricted fund - General funds 357,868 477,986 (476,650) 359,204 21. Analysls ol net assets between funds Unrestricled Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Net assets 154.891 199.869 134,4471 320.313 154,891 199,869 (34,447 320,313 Unreslrlcted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net assets 152,968 268,214 (61 ,978) 359,204 152,988 268.214 161,978) 359.204 22. Related partle8 During the year ended 31 st March 2024 the charity received a donation of £45,000 from The Churches, Training Company Ltd. a charity in which The Churches, Trust Limited Is the sole member. 18