Company registration number: NI643495 Charity registration number: 106726
FOUNDATION CHURCH TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
D N Robinson Limited
Foundation Church Contents
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2—4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities (including Income and Expenditure Account) | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8—12 |
Foundation Church Reference and Administrative Details For The Year Ended 31 January 2025
| Trustees | David Browne |
|---|---|
| Christopher Macartney | |
| David Varney | |
| Marion Varney | |
| Glenn Wasson | |
| Charity Number | 106726 |
| Company Number | NI643495 |
| Independent Examiner | Michelle Robinson |
| D N Robinson Limited | |
| Chartered Certified Accountant | |
| 17 Gray's Hill | |
| Bangor | |
| County Down | |
| BT20 3BB |
Page 1
Foundation Church Company No. NI643495 Trustees' Report For The Year Ended 31 January 2025
The trustees present their report and the financial statements for the year ended 31 January 2025.
Objectives and Activities
Aims and Objectives
The objectives of the church are:
The promotion and practice of the Christian Faith
This in turn contributes to the spiritual, psychological and physical well-being of participants.
Foundation Church carries out its purpose by holding weekly public worship services and through performing charitable works among local communities in Belfast and throughout Northern Ireland.
In setting the objectives for the charity and planning activities for the year, the trustee has given careful consideration to Charity Commission for Northern Ireland's guidance on the public benefit to ensure that the activities have helped to achieve the charities purpose and provide a benefit to their beneficiaries.
Public Benefit
The direct benefits that flow from our purpose are the promotion and practice of the Christian faith, which contribute to spiritual, psychological and physical well-being of participants. These benefits are recognised through feedback from participants and increasing numbers of attenders at services of worship. No harm has been identified from the organisation's purposes.
Foundation Church exists for the benefit of the general public. The charity will employ pastors and various other staff as it expands in size. These employments will solely be to further the purpose of the Foundation Church as outlined above and so are incidental and necessary to achieving these objectives.
The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.
Achievements and Performance
Main Achievements
As stated in our governing documents,
‘Foundation Church exists to promote the Christian religion in Northern Ireland.’
‘The main activities of Foundation Church are: (a) holding weekly public worship services, and (b) performing charitable works among local communities in Belfast and throughout Northern Ireland.’
Throughout the year ending 31 January 2025 we saw a wide array of activity taking place at Foundation Church in furtherance of our objectives. Our Sunday worship services saw a sustained growth in attendance over this time, and included three baptism services, monthly community lunches, an eldership installation, child dedications, and our weekly FCB Kids ministry. During this time we were strengthened by visiting speakers both from local churches and further afield from our Advance Movement partner churches.
Beyond our Sunday services, we celebrate a proliferation of new community events and ministries. In July 2024 we held our first Holiday Bible Club for local children of primary school ages, culminating in a busy community BBQ evening! Our adult GCSE maths class concluded in November 2024 with four students sitting and successfully passing their exams. This opened exciting new job opportunities to the students that were not previously available to them.
We also held our first community carol singing event, as well as a packed evening carol service in December. Through hosting the Union learning community, we were able to provide theological training to church leaders throughout the year. Additionally we ran the 321 Course twice – this is a short course open to anyone in or outside the church interested in learning more about the Christian faith.
During this year we were able to employ our pastor David Varney in a fulltime capacity. This represents a significant moment for us as a growing church, and is a testimony of God’s goodness and our church’s desire to progress in our mission. As the daily work of pastoral care, team-building, and leadership development continues, we look forward expectantly to what will be established and strengthened in the year to come.
Page 2
Foundation Church Trustees' Report (continued) For The Year Ended 31 January 2025
Financial Review
Financial Position
The Statement of Financial Activities set out on page 5 shows income for the year of £74,996.
Expenditure for the year totalled £54,030 showing a surplus of £20,966.
This brings the unrestricted funds to £33,044 at 31 January 2025.
Reserves Policy
The Directors' aim to maintain sufficient free reserves to enable the Charity to maintain its charitiable activities as its current level.
Structure, Governance and Management
Governing Document
The Organisation is a charitable company limited by guarantee, incorporated on 30 January 2017.
The charitable company was established under a Memorandum of Association which establised the objects and powers of the charitable company and is governed by these articles. In the event of the company being wound up, members are required to contribute an amount not exceeding £1.
The charitable company was granted charitable status by the NI Charity Commission on 10 July 2017 and it's charity reference is 106726.
Trustee Selection Methods
The board of trustees make-up is reviewed on a regular basis to ensure skills, knowledge and experience meets the needs of the charitable company. Any person who is willing to act as a trustee may be appointed by an ordinary resolution or by the decision of the directors.
Statement of Trustees' Responsibilities
The trustees (who are also the directors of Foundation Church for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statement unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing the financial statements the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgments and accounting estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at anytime the financial position of the charitable company and to enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Page 3
Foundation Church Trustees' Report (continued) For The Year Ended 31 January 2025
The trustees' report was approved by the board of trustees and signed on its behalf by:
David Varney Trustee 20/10/2025
Page 4
Foundation Church Independent Examiner's Report to the Trustees of Foundation Church For The Year Ended 31 January 2025
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 January 2025.
Responsibilities and Basis of Report
As the charity trustees of the Company (and also its directors 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 (“the 2006 Act”).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent Examiner's Statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Michelle Robinson 20/10/2025 D N Robinson Limited Chartered Certified Accountant 17 Gray's Hill Bangor County Down BT20 3BB
Page 5
Foundation Church Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 January 2025
| Notes INCOME AND ENDOWMENTS FROM: Donations and legacies 4 EXPENDITURE ON: Charitable activities: 6 Charitable activities NET INCOME/(EXPENDITURE) NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD 13 |
2025 Unrestricted funds £ 74,996 |
2024 Unrestricted funds £ 44,710 |
|---|---|---|
| (54,030) | (51,289) | |
| 20,966 | (6,579) | |
| 20,966 12,078 |
(6,579) 18,657 |
|
| 33,044 | 12,078 |
All of the charity's activities derive from continuing operations during the above two periods.
The notes on pages 8 to 12 form part of these financial statements.
Page 6
Foundation Church Balance Sheet As At 31 January 2025
| Notes FIXED ASSETS Tangible Assets 10 CURRENT ASSETS Debtors 11 Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 12 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS OF THE CHARITY Unrestricted Funds TOTAL FUNDS 13 |
2025 Unrestricted funds £ 5,726 |
2024 Total funds £ 7,778 |
|---|---|---|
| 5,726 6,270 23,915 |
7,778 - 4,651 |
|
| 30,185 (2,867) |
4,651 (351) |
|
| 27,318 | 4,300 | |
| 33,044 | 12,078 | |
| 33,044 | 12,078 | |
| 33,044 | 12,078 | |
| 33,044 | 12,078 |
For the year ending 31 January 2025 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the charitable company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
David Varney Trustee 20/10/2025
The notes on pages 8 to 12 form part of these financial statements.
Page 7
Foundation Church Notes to the Financial Statements For The Year Ended 31 January 2025
1. General Information
Foundation Church is a company limited by guarantee, incorporated in Northern Ireland, registered number NI643495 and registered charity number 106726. The registered office is .
2. Statement of Compliance
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
3. Accounting Policies
3.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention.
The charitable company is a Public Benefit Entity as defined by FRS 102.
3.2. Financial Reporting Standard 102 - Reduced Disclosure Exemptions
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
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the requirements of Section 7 Statement of Cash Flows and Section 3 Financial Statement Presentation paragraph 3.17 (d);
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the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44, 11.45, 11.47, 11.48 (a) (iii), 11.48 (a) (iv), 11.48 (b) and 11.48 (c);
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the requirements of Section 12 Other Financial Instruments Issues paragraphs 12.27, 12.29 (a), 12.29 (b), 12.29A and 12.30.
3.3. Going Concern Disclosure
The trustees have not identified any material uncertainties related to events or conditions that may cast significant doubt about the charitable company's ability to continue as a going concern.
3.4. Significant judgements and estimations
The preparation of the financial statements requires management 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.
3.5. Fund Accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds comprise unrestricted funds that have been set aside by the trustees for a specific purpose.
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 two sub-classes: restricted income funds or endowment funds.
3.6. 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 entitlment 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.
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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.
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...CONTINUED
Page 8
Foundation Church Notes to the Financial Statements (continued) For The Year Ended 31 January 2025
3.6. Incoming Resources - continued
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classifed 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.
3.7. Resources Expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes and VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activites, and the sale of donated goods.
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expenditure on charitable activites 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.
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other expenditure includes all expenditure that is neither related to raising funds for the charity no part of its expenditure on charitable activites.
3.8. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings
20% straight line
3.9. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
3.10. Taxation
The charity is exempt from tax as all its income is charitable and applied for charitable purposes.
4. Income from Donations and Legacies
| Donations and gifts Gift aid |
2025 Unrestricted funds £ 61,809 13,187 |
2024 Unrestricted funds £ 38,962 5,748 |
|---|---|---|
| 74,996 | 44,710 |
5. Net Income/(Expenditure)
The net income/(expenditure) is stated after charging/(crediting):
| he net income/(expenditure) is stated after charging/(crediting): | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Depreciation of tangible fixed assets - owned | 2,052 | 1,400 |
Page 9
Foundation Church Notes to the Financial Statements (continued) For The Year Ended 31 January 2025
6. Analysis of Expenditure
| Charitable activities Charitable activities 7. Support Costs Employee costs Premises expenses General administration Depreciation Governance costs Employee costs Premises expenses General administration Depreciation Governance costs |
Activities undertaken directly £ 3,556 |
Support costs (see note 7) £ 50,474 |
2025 Total £ 54,030 |
|---|---|---|---|
| Activities undertaken directly £ 4,589 |
Support costs (see note 7) £ 46,700 |
2024 Total £ 51,289 |
|
| 2025 Charitable activities £ 29,050 8,061 10,681 2,052 630 |
|||
| 50,474 | |||
| 2024 Charitable activities £ 9,396 27,061 8,073 1,400 770 |
|||
| 46,700 |
Page 10
Foundation Church Notes to the Financial Statements (continued) For The Year Ended 31 January 2025
8. Staff Costs
Staff costs were as follows:
| Wages and salaries Social security costs Other pension costs |
2025 £ 22,347 1,514 1,530 25,391 |
2024 £ 7,155 - 374 |
|---|---|---|
| 7,529 |
No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000.
9. Average Number of Employees
Average number of employees during the year was: 1 (2024: 1)
10. Tangible Assets
| Cost As at 1 February 2024 As at 31 January 2025 Depreciation As at 1 February 2024 Provided during the period As at 31 January 2025 Net Book Value As at 31 January 2025 As at 1 February 2024 11. Debtors Due within one year Other debtors 12. Creditors: Amounts Falling Due Within One Year Other creditors Taxation and social security Accruals and deferred income |
2025 £ 6,270 2025 £ 608 1,279 980 2,867 |
Fixtures & Fittings £ 11,255 |
|---|---|---|
| 11,255 | ||
| 3,477 2,052 |
||
| 5,529 | ||
| 5,726 | ||
| 7,778 | ||
| 2024 £ - |
||
| 2024 £ 1 - 350 |
||
| 351 |
Page 11
Foundation Church Notes to the Financial Statements (continued) For The Year Ended 31 January 2025
13. Movement in Funds
| Unrestricted funds General: General unrestricted fund Total funds Unrestricted funds General: General unrestricted fund Total funds |
As at 1 February 2024 £ 12,078 |
Income £ 74,996 |
Expenditure £ (54,030) |
As at 31 January 2025 £ 33,044 |
|---|---|---|---|---|
| 12,078 | 74,996 | (54,030) | 33,044 | |
| As at 1 February 2023 £ 18,657 |
Income £ 44,710 |
Expenditure £ (51,289) |
As at 31 January 2024 £ 12,078 |
|
| 18,657 | 44,710 | (51,289) | 12,078 |
14. Transactions with Trustees
David Varney received gross saalry of £22,347 as remuneration for his ministerial duties and the Church paid £1,530 in employers' pension contributions.
No remuneration or other benefits from employment with the Church were received by any other trustees.
15. Related Party Disclosures
There have been no related party transactions in the reporting period that require disclosure, except for those disclosed in the Transactions with Trustees note.
Page 12