COMPANY REGISTRATION NUMBER: N1638570 CHARITY REGISTRATION NUMBER: 106417 The Clive West Memorial Trust Company Limited by Guarantee Unaudited Financial Statements 31 May 2023 AUBREY CAMPBELL & COMPANY Chartered accountants 631 Lisburn Road Belfast BT9 7GT The Clive West Memorial Trust Company Limited by Guarantee Financial Statements Year ended 31 May 2023 Page Trustees, annual report (incorporating the director's 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 10 The Clive West Memorial Trust Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) Year ended 31 May 2023 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charitable company for the year ended 31 May 2023. Reference and administrative details Registered charity name The Clive West Memorial Trust Charity registration number 106417 Company registration number N1638570 Principal office and registered 9 Kincora Avenue office Belfast Co. Antrim BT4 3DW Northern Ireland The trustees Mr D Scholes Rev. T Anderson His Honour Judge A Devlin Rev. T Johnston Rev. W Press Mr L Singleton Mrs A West Rev P Blair Independent examiner 631 Lisburn Road Belfast BT9 7GT The Clive West Memorial Trust Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (conlinued) Year ended 31 May 2023 structure, governance and management The Clive West Memorial Trust is a company limited by guarantee and governed by its Memorandum and Articles. There are eight directors, who for the purposes of charity law are trustees of the Trust, none of whom receive any monetary gain from the Trust. The trustees met three times during the year and undertook their responsibilities with commitment, insight and rigour. The Trust recognises that an effective board of trustees is essential if the charity is to be effective in achieving its objects. Therefore, the Trust aims to have a board of trustees with a diverse range of skills, experience and knowledge in keeping with the its objectives. The Trust's Articles of Association detail how the board should operate, trustees be appointed, retire or be co-opted. Where a trustee departs, efforts at recruiting a replacement will take account of the skills being lost by the departure. The board of trustees will use a range of means to recruit a replacement trustee. Public Benefit Statement The trustees confirm that they have had due regard for the guidance proauced on public benefit by the Charity Commission for Northern Ireland and are pleased to report that during the period the charitable company has continued to provide public benefits through the programmes and services we offer. The Clive West Memorial Trust Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continued) Year ended 31 May 2023 Objectives and activities The Clive West Memorial Trust has been established to honour and reftect the ministry of the Rev. Canon Clive West, Rector of All Saints, Parish, Belfast (1984 20001 and Canon of Belfast Cathedral. Rev. Canon West was a Church of Ireland cleric deeply respected and honoured by many within the Anglican Church across the world. The Trust has two activities.. providing a regular lecture series, and supporting of several who are training for eventual ordained {or other) ministry in an Anglican context on the island of Ireland. The charity's objects are specifically restricted to the advancement of the Christian Faith in accordance with the theological basis of the Thity Nine Articles of Religion, in particular by the following means= (a) To finance and hold a near annual lecture "The Clive West Memorial Lecture" promoting theological topics closely associated with Clive's emphases during his lifetime in ministry, or alternatively reflecting his interest in mission., (b) To provide financial support either for ministry training or alternatively the theological education of any individual committed to seNice as a Pastorl Teacher within the Church, whether in Ireland or elsewhere, the theological basis of which is in acLordance with the Thirty Nine Articles of Religion, where any such individual is not already eligible to receive significant financial assistance from another source or sources., and (c) To provide financial support to any other individual engaged or seeking to engage in church planting, youth or overseas ministry, the theological basis of which is in accordance with that encompassed by the Thity Nine Articles of Religion. The Trust welcomes applications for.. (a} The funding of individuals for ministry training or for theological education as a pastorlteacher in a church, particularly in Ireland but also elsewhere, the theological basis of which is in accordance with the Articles of Religion {The 39 Articles)., and {b) Financial help for an individual engaged in or seeking to engage in church planting, youth or overseas ministry, the theological basis of which is in accordance with the 39 Articles. The trustees consider applications during the months of October and March for the ensuing academic year. As part of the grant screening process, trustees also consider- Details of the candidates, course of study or ministry proposal{s)' The candidates, Christian background (e.g. testimony, major influences)., The candidates, age, education, Christian ministry and other work., The candidates, hopes, ambitions, plans., and An annual budget accounting for any spouse, children or other dependents, including details of other sources of financial assistance the candidate may have. Candidates must also provide the trustees with references from two referees whom, one of these would normally be a church minister, and the other a lay person who knows the candidate and can assess the candidate's suitability for the training or ministry concerned. Further details on the objectives, activities and grant application process can be found at The Clive West Memorial Trust Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continued) Year ended 31 May 2023 www.westtrust.co.uk Achievements and performance Following on from a season where there were few in-person events, our activities have seen a welcome return to in-person events. The annual lecture series in 2022, was with the Rev Dr Tim Ward, lecturer in Theology at Oak Hill Theological College, London. This saw around 70 people gather in St Nicholas, Church halls, Cadogan Park, Belfast. for his lecture on reading the Bible. His specific area of expertise is hermeneutics, having contributed to work on this discipline from an evangelical's perspective. Again, the profile of those attending encouraged the trustees and reassured that the work of the trust in its offer of an annual lecture is still appreciated and valued by a wider constituency. Especially notable, again, is the younger age profile of attendees. Financial review The Trust's income for the year totalled £12,402 (2022 £10,691), which was derived from charitable donations, gift aid and interest. Expenditure for the year totalled £6,395 (2022 £11,240) and was spent mainly providing financial support for theological education. At the year end, the charity had reserves of £21,18912022 £15,182) which will enable the Trust to continue operating for the foreseeable future. Plans for future periods Going fotward the Trust looks fotward to having Rev Rico Tice in November 2023. The Trust also looks forward to having further applications for support in bursary towards ministry training. It is a particular encouragement that we have been approached by at least two young people who have indicated a desire towards service on this island and are seeking ministry training towards effective biblical ministry. The trustees are grateful to God for these encouragements. Another element of the Trust's development is towards the 'widening of the funnel, of those for whom ministry and ministry training ought to be a possibility. This will involve networking with church youth groups and other ministries (mostly parachurch) to create a training network and the organisation and delivery of a teaching programme. This, we hope, will launch proper in September, 2024. As trustees we appreciate the financial support of the many who have contributed to the work of the Trust and are thrilled as to the interest demonstrated by attendance at the various lectures and those approaching the Trust for support. All in all, we are grateful to God for his sustaining, provision and encouragement. Reserves Policy The charity's policy is to retain a level of free reseNes which match the needs of the organisalion both at the current time and in the foreseeable future. The charity will continue to monitor compliance with this policy and the trustees will regularly review the appropriateness of the policy. Small company provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The Clive West Memorial Trust Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continuedj Year ended 31 May 2023 The trustees, annual report was approved on 12th February 2024 and signed on behalf of the board of trustees by- QL'J fa Mr D Scholes Trustee The Clive West Memorial Trust Company Limited by Guarantee Independent Examiner's Report to the Trustees of The Clive West Memorial Trust Year ended 31 May 2023 I report to the trustees on my examination of the financial statements of The Clive West Memorial Trust ('the charitable company'l for the year ended 31 May 2023. Respective responsibilities of charity trustees and examiner 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 with the requirements of the Companies Act 2006. You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination. Having satisfied myself that the charity is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to.. examine the accounts under section 65 of the Charities Act follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9){b) of the Charities Act state whether particular matters have come to my attention. Basis of Independent Examiner'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 with the general Directions given by the Charity Commission for Northern Ireland under section 65{91(b) 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 the accounts, and seeking explanations from you as charity trustees concerning any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe.. 1. That accounting records were not kept in accordance with section 386 of the Companies Act 2006 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 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 U K and Republic of I reland 4. That there is further information needed for a proper understanding of the accounts to be reached. Independent Examiner's statement I have completed my examination and have no concerns in respect of the matters 1. to 4. listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matter hat require drawing to ur attention. James Magee ate The Clive West Memorial Trust Company Limited by Guarantee Independent Examiner's Report to the Trustees of The Clive West Memorial Trust (continued) Year ended 31 May 2023 Independent Examiner 631 Lisburn Road Belfast BT9 7GT The Clive West Memorial Trust Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 May 2023 2023 Unrestricted funds Total funds Total funds 2022 Note Income and endowments Donations and legacies Investment income 12,402 12,402 10,685 Total incoming resources Expenditure Expenditure on charitable activities Total resources expended 12,402 12,402 10,691 6,395 6,395 6,395 11,240 11,240 6,395 Net incomel(expenditure) and net movement in funds 6,007 6,007 (549) Reconciliation of funds Total funds brought forward Total funds carried forward 15,182 15,182 15,731 21,189 21,189 15,182 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 10 to 17 fomi part of these financial statements. The Clive West Memorial Trust Company Limited by Guarantee Statement of Financial Position 31 May 2023 2023 2022 Note Current assets Debtors Cash at bank and in hand 14 2,007 19,882 21,889 1,620 14,162 15,782 Creditors: amounts falling due within one year Net current assets 15 700 600 21,189 15,182 Total assets less current liabilities 21,189 15,182 Net assets 21,189 15,182 Funds of the charity Unrestricted funds 21,189 15,182 Total charity funds 16 21,189 15,182 For the year ending 31 May 2023 the charitable company was entitled to 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 accordan￿ 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 12th February 2024, and are signed on behalf of the board by: GLiJ C Mr D Scholes Trustee The notes on pages 10 to 17 form part of these financial statements. The Clive West Memorial Trust Company Limited by Guarantee Notes to the Financial Statements Year ended 31 May 2023 General information The charitable company is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is 9 Kincora Avenue, Belfast, Co. Antrim, BT4 3DW, Northern Ireland. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (Charities SORP IFRS 102)) and the Companies Act 2006. Accounting policies Basis of preparation These financial statements are prepared on a going concern basis, under the historical cost convention, as modified, where appropriate, by the recognition of certain financial assets and liabilities measured at fair value. The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the charity's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed below. The charity's functional and presentation currency is the pound sterling. Going concern After making enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity, therefore, continues to adopt the going concern basis in preparing its financial statements. 10 The Clive West Memorial Trust Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 May 2023 Accounting policies (continuedj Judgements and key sources of estimation uncertainty The preparation of the financial statements requires the Trustees to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Consequently, actual results may differ from these estimates. Significant Judgements To be a key judgement, the subject matter must relate to something other than assumptions about the future or making estimates and typically relate to significant issues in applying accounting standards where the Trustees applied judgement in situations where a different judgement might have led to a materially different accounting treatment. The judgements (apart from those involving estimations) that the Trustees have made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows.. Going Concern The Trustees confirm that at the time of approving the financial statements, there are no material uncertainties regarding the charity's ability to continue in operational existence for the foreseeable future. In arriving at this conclusion, the Trustees have taken account of current and anticipated income and outgoings in the current economic conditions, including the impact of COVID-19, and its reserves position. For this reason, the going concern basis continues to be adopted in the preparation of the charity's financial statements. Key Sources of Esfimation Uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. They are, by nature, subjective and result in a risk that a material adjustment to the carrying amount of assets or liabilities may be required as a result of changes in those assumptions or estimates in the next period. The Trustees consider that no key estimates have made in the prO￿sS of applying the charity's accounting policies in the financial statements. Taxation The Trustees consider that all income received and expenditure incurred is related to the company's charitable objects and, hence, the charity is not subject to corporation tax on any surpluses. 11 The Clive West Memorial Trust Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 May 2023 Accounting policies (continued) Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of ￿0 sub-classes.. restricted income funds or endowment funds. Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity,. it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income-. income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of serVI￿S is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. 12 The Clive West Memorial Trust Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 May 2023 Accounting policies (continued) Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Donated services It is not possible to reasonably quantify the value of the services provided by volunteers to the Trust and, therefore, donated services are not recognised in the financial statements. Financial instruments A financial asset or a financial liability is recognised only when the charitable company 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. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or re￿iVed and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequent5y measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. 13 The Clive West Memorial Trust Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 May 2023 Accounting policies (contlnued) Financial instruments (continued) Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously bee.n recognised. Limited by guarantee The charity is a company limited by guarantee, noi having a share capital and is registered in Northern Ireland. The liability is limited to £1 per member. Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Donations Donations- General Gift Aid receivable 10,395 2,007 12,402 10,395 2,007 9,065 1,620 10,685 9,065 1,620 12,402 10,685 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Bank interest receivable 14 The Clive West Memorial Trust Company Limited by Guarantee Notes to the Financial Statements (conllnued) Year ended 31 May 2023 Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Biblical and Theological Training Grants Biblical and Theological Lectures Support costs 5,000 368 1,027 5,000 368 1,027 6,395 8,800 1,761 679 8,800 1,761 679 6,395 11,240 11,240 Expenditure on charitable activities by activity type Activities undertaken Grant funding directly of activities Support costs Total funds 2023 Total fund 2022 Biblical and Theological Training Grants Biblical and Theological Lectures Governance costs 5,000 5,000 8,800 368 368 1,027 1,761 679 1,027 368 5,000 1,027 6,395 11,240 Analysis of grants 2023 2022 Grants to individuals Grants to individuals 5,000 8,800 8,800 Total grants 5,000 10. Independent examination fees 2023 2022 Fees payable to the independent examiner for= Independent examination of the financial statements 630 650 11. Staff costs The company did not employ any staff in the current reporting period (2022 - nil). The total staff costs and employee benefits for the reporting period was £nil (2022 - £nill. 15 The Clive West Memorial Trust Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 May 2023 12. Trustee remuneration and expenses At 31 May 2023 there were eight12022 eight) members of the Trust, none of whom were employed or received any monetsry gain from the Trust. 13. Transfers between funds During the period, no transfers were made from general funds to supplement the charitable grant making activities undertaken by the Archdeacon T C Hammond Fund. 14. Debtors 2023 2022 Prepayments and accrued income 2,007 1,620 15. Creditors: amounts falling due within one year 2023 2022 Accruals and deferred income 700 600 16. Analysis of charitable funds Unrestricted funds At 1 June 2022 At Income Expenditure 31 May 2023 Unrestricted General Funds 15,182 12,402 (6,395) 21,189 At 1 June 2021 At Income Expenditure 31 May 2022 Unrestricted General Funds 15,731 10,691 (11,240) 15,182 16 The Clive West Memorial Trust Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 May 2023 17. Analysis of net assets between funds Unrestricted Total Funds Funds 2023 Current assets Creditors less than 1 year Net assets 21,889 (700) 21,189 21,889 (7001 21,189 Unrestricted Total Funds Funds 2022 Current assets Creditors less than 1 year Net assets 15,782 (600) 15,182 15,782 16001 15,182 18. Related parties During the financial year under review members of the board donated a total of £5,320 {2022'. £5,320) to the charity. Other related parties donated a total of £950 during the financial year (2022. £1,700). During the year under review, 2 12022.. 2) directors were reimbursed out of pocket expenses, incLrrred when acting on behalf of the charitable company, totalling £177 (2022- £1,446), in accordance with the company's Articles of Association. The charity also made a grant of £Nil (2022.. £2,700) to a church, in which 3 of the directors hold positions of responsibility. 17