COMPANY REGISTRATION NUMBER: N1638570 CHARITY REGISTRATION NUMBER: 106417 The Clive West Memorial Trust Company Limited by Guarantee Unaudited Financial Statements 31 May 2024 BREY AMPB Chartered accountants 631 Lisburn Road Belfast BT9 7GT MPANY The Clive West Memorial Trust Company Llmlted by Guarantee Financial Statements Year ended 31 May 2024 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 Llmited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 May 2024 The trustees. who are also the directors for the purposes of company law, present their report and the unaudited financial slatements of the charitable company for the year ended 31 May 2024. Reference and admlnlsiraiive detalls Registered charlty name The Clive West Memorial Trust Charity registration number 106417 Company reglstratlon number N1638570 Prlnclpal offlce and reglslered 9 Kincora Avenue offlce Belfast Co. Antrim BT4 3DW Northern Ireland The irustees 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 Mr R Balmer Mrs A Cunningham (Appointed 1 September 2023) (Appointed 14 May 2024) Independent examlner James Magee 631 Lisburn Road Belfast BT9 7GT The Clive West Memorial Trust Company Llmited by Guarantee Trustees. Annual Report (Incorporating the Dlrector's Report) (Contlnwd) Year ended 31 May 2024 Structure, governance and management The Clive West Memorial Trust is a company limited by guarantee and governed by its Memorandum and Articles. There are eiaht 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, insighl 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 wilh 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. Publlc Beneflt Statemenl The trustees confirm that they have had due regard for the guidance produced 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 Llmlted by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 May 2024 Oblectlves and activltles The Clive West Memorial Trust has been established to honour and reflect the ministry of the Rev. Canon Clive West, Recior of All Saints. Parish, Belfast (1984 - 2000) 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) minislry in an Anglican context on the island of Ireland. The charitys 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 Yhe 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 ahernatively the theological education of any individual committed to service as a Pasior/ Teacher within the Church, whelher in Ireland or elsewhere. the theological basis of which is in accordance 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 io 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 Thirty Nine Articles of Religion. The Trust welcomes applications for: (a) The funding of individuals for ministry training or for theological education as a pastor/ieacher 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 monlhs 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 Oiher a lay person who knows the candidate and Can assess the candidaie's suitability for the training or ministry concerned. Further details on the objectives, activities and grant application process can be found at www.westtrust.co.uk The Clive West Memorial Trust Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 May 2024 Achlevements and performance The trust continues to build on the excellent series of lectures since its inaugural lecture in 2016 with the Rev Canon Dr Ashley Null as its invited speaker. The latesi was given by the Rev Canon Dr David Short, the rector of St John's Church, Vancouver, Canada. He spoke to the title.. Tipping Point - when your denomination seems to leave the faith. This lecture was well attended by over 130 present. It was noted by several of the encouraging age and gender profile of the attendees and the lively, engaging discussion and questions and answers interaction. David spoke clearly and passionately about his experiences in Ihe Diocese of New Westminster in the first decade of this century and his church's decision to leave the diocese owing to change in the doctrine ol marriage by that diocese. This lecture, along with all of the pasl lectures and further resources are available on the West Trusl's website: http: As noted in our previous report, the Trust desired to establish a mechanism by which the 'funnel would be widened, of those who are considering full-time ministry. This initiative known as the West Training Academy.., was launched by the Rev Canon Dr Mark Thompson, principal of Moore Theological College, Sydney, as guest speaker, in June 2024. It is being co-ordinated by Mr Richard Lyttie, youth worker at St Nicholas and All Saints Church, Belfast. Richard has made and drawn many contacts together to to inform of the launch and subsequent programme. A successful programme of lectures on the doctrine of God. training sessions in Biblical Theology and some teen events have taken place. An encouraging start to his new initiative. Flnancial revlew The Trust's income for the year totalled £15,479 (2023 £12,402), which was derived from charitable donations, gift aid and interest. Expenditure for the year totalled £23,193 {2023 £6.395) and was spent mainly providing financial support for theological education. At the year end. the charity had reserves of £13,475 {2023 £21,189) which will enable the Trust to continue operating for the foreseeable future. Plans for future perlods Going forward the Trust looks fonvard to having a guest lecturer in Autumn 2025. 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 three young people who have indicated a desire lowards ministry on this island and are seeking training towards effective biblical ministry. The trustees are grateful to God for these encouragements. All in all, we are grateful to God for his sustaining. provision and encouragement. Reserves Pollcy The charity's policy is to retain a level of free reserves which match the needs of the organisation both at the current lime 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. The Clive West Memorial Trust Company Llmited by Guarantee Trustees. Annual Report (Incorporatlng the Director's Report) (contlnued) Year ended 31 May 2024 Small company provlslons This report has been prepared in accordance with the provisions applicable to companies entitled 10 the small companies exemption. The trustees, annual report was approved on 2.4.: .Q.2. 25 trustees by.. and signed on behalf of the board of Mr D Scholes Trustee The Clive West Memorial Trust Company Llmited by Guarantee Independent Examiner's Report to the Trustees of The Cllve West Memorial Trust Year ended 31 May 2024 I report to the trustees on my examination of the financial statements of The Clive West Memorial Trust ('the charitable company.) for the year ended 31 May 2024. Respective responslbllltles of charlty irusiees and examlner As the charity trustees (and also the directors of the company for the purposes of company law) 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){bl of the Charities Act slate whether particular matters have come to my attention. 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 with the general Directions given by the Charity Commission *or Northern Ireland under section 65(9){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. li 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 wilh 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 UK and Republic of Ireland 4. Thal 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 d, in connection with foll wing the Directions of the Charity Commission for Northem Ireland, I have ma rs hat re drawing to your attention. Date Z4 02.25 The Clive West Memorial Trust Company Limlted by Guarantee Independent Examiner's Report to the Trustees of The Cllve West Memorial Trust (¢ontlnued) Year ended 31 May 2024 James Magee Independent Examiner 631 Lisburn Road Belfast BT9 7GT The Clive West Memorial Trust Company Limited by Guarantee Statement of Flnanclal Activities (including Income and expenditure account) Year ended 31 May 2024 2024 Unrestricted funds Total funds Total funds 2023 Note Income and endowmenls Donations and legacies Total Incomlng resources Expendltura Expenditure on charitable activities Total resources expended 15,479 15,479 12,402 15,479 15,479 12,402 23,193 23,193 6.395 23,193 23,193 6,395 Net (expendllure)lin¢ome and nel movement In funds (7.714) (7,714) 6,007 Reconciliation of funds Toial funds broughl forward Total funds carrled forward 21,189 21,189 15,182 13,475 13,475 21,189 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The nots8 on pages 10 to 16 form part of Ihese flnanclal stalements. The Clive West Memorial Trust Company Llmlted by Guarantee Statement ol Financial Positlon 31 May 2024 2024 2023 Nots Current assets Deblors Cash at bank and in hand 13 2,409 11,766 2,007 19,882 14,175 21,889 Credltors: amounis lalllng due wllhln one year Nel current assets 14 700 700 13,475 13,475 21,189 21,189 Toial assets less current Ilabllltles Nel assets 13.475 21.189 Funds of the charily Unrestricted funds 13,475 21.189 Total charlty funds 15 13,475 21,189 For the year ending 31 May 2024 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 accordance with the provisions applicable to companies subject to the small companies. regime. These financial statements were approved by the board of trustees and authorised for issue on 24..o.2...25...., and are signed on behalf of the board by: Mr D Scholes Trustee The notes on pages 10 to 16 lorm part of these flnanclal statements. The Clive West Memorial Trust Company Limited by Guarantee Notes to the Financial Statements Year ended 31 May 2024 General Inforniatlon The charitable company is a public benefit entity and a private company limiied 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, Northem Ireland. Slatement of compllance 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 102) (Charities SORP (FRS 102)) and the Companies Act 2006. Accounllng pollcles Basls of preparatlon These financial statements are prepared on a going concem 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. 11 also requires management to exercise its judgement in the process of applying the charitys 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. Golng concem After making enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operaiional 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 Llmited by Guarantee Notes to the Flnanclal Statements (¢ontlnuod) Year ended 31 May 2024 Accountlng pollcies (contlnued) Judgements and key sources of estlmatlon uncertalnty The preparation of the financial stalements requires the Trustees to make judgements, estimales and assumptions that allect 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 reSU￿S 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 differenl 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 conlinue 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, Ihe going concern basis continues to be adopted in the preparation of the charity's financial statements. Key Sources of Estimation un￿rtaInty 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 process of applying the charity's accounting policies in the financial statements. Taxatlon 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 sury)luses. 11 The Clive West Memorial Trust Company Llmlted by Guarantee Notes to the Financial Statements (cOntIn(￿d) Year ended 31 May 2024 Accountlng pollcles (contlnued) Fund accountlng 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 ierms of an appeal, and fall into one of two sub-classes.. restricted income funds or endowment funds. Incom5ng 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 lo measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and seNices 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 Ihe delivery ol 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 Llmlted by Guarantee Notes to the Financial Statements (witlnuedl Year ended 31 May 2024 Accounllng policles (contlnued) 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 ol the statement of financial aclivilies to which it relates: expendilure on raising funds includes Ihe 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 lis expenditure on charitable activilies. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attribulable 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 servlces 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. Flnanclal Instruments A financial assel 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 received and not discounied. 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 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 interest that is not a market rale, 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 Llmlted by Guarantee Notes to the Financial Statements (contlnu6d) Year ended 31 May 2024 Accountlng pollcles (conllnued) Financlal instruments (ContInu￿) 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 insiruments 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 been recognised. Llmlted by guaranlee The charity is a company limited by guarantee, not having a share capital and is registered in Northern Ireland. The liability is limited to £1 per member. Donatlons and legacles Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donatlons Donations - General Gift Aid receivable 13,070 2,409 13,070 2.409 10.395 2,007 10,395 2,007 15,479 15,479 12.402 12,402 Expendiiure on charitable activltles by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Biblical and Theological Training Grants Biblical and Theological Lectures Support costs 19,000 3,308 885 19,000 3.308 5,000 368 1,027 6,395 5,000 368 1,027 23,193 23.193 6.395 14 The Clive West Memorial Trust Company Limited by Guarantee Notes to the Financial Statements (contlnu6d) Year ended 31 May 2024 Expendiiure on charltable actlvltles by actlvlty type Activities undertaken Grant funding directly of activities Support costs Tolal funds 2024 Total fund 2023 Biblical and Theological Training Grants Biblical and Theological Lectures Governance costs 19,000 19,000 5.000 3,308 3,308 885 368 1,027 885 3,308 19,000 885 23,193 6,395 Analys18 of granls 2024 2023 Grants to indivlduals Grants to individuals 19,000 5,000 Total grants 19.000 5,000 Independent examlnatlon fees 2024 2023 Fees payable to the independent examiner for- Independent examination of the financial statements 672 630 10. Staff costs The company did not employ any staff in the current reporting period (2023 - nil). The total staff costs and employee benefits for the reporting period was £nil {2023 - £nil). 11. Trusiee remuneration and expenses At 31 May 2024 there were ten (2023 - eight) members of the Trust, none of whom were employed or received any monetary gain from the Trust. 12. 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. 13. Debtors 2024 2023 Prepayments and accrued income 2.409 2,007 15 The Clive West Memorial Trust Company Llmited by Guarantee Notes to the Financial Statements (contIn(A￿) Year ended 31 May 2024 14. Credltors: amounts falllng due wlthln one year 2024 2023 Accruals and deferred income 700 700 15. Analysls of charltable funds Unrestrlcted funds At 1 June 2023 At Income Expenditure 31 May 2024 Unrestricted General Funds 21,189 15,479 {23,193) 13.475 At 1 June 2022 Al Income Expenditure 31 May 2023 Unrestricted General Funds 15.182 12,402 (6.395) 21,189 16. Analysls of nei asseis between funds Unrestricted Total Funds Funds 2024 Current assets Creditors less than 1 year Net assets 14,175 {700) 13,475 14,175 {700) 13.475 Unrestricted Total Funds Funds 2023 Current assets Creditors less than l year Net assets 21,889 (700} 21,189 21,889 (700} 21,189 17. Related partles During the financial year under review members of the board donated a total of £5.520 {2023". £5,320) IO the charity. Other related parties donated a total of £1.350 during the financial year {2023: £950). During the year under review, O (2023.. 2) directors were reimbursed out of pocket expenses, incurred when acting on behalf of the charitable company. totalling £Nil (2023- £177), in accordance with the company's Articles of Association. 16