Charity registTltion number 107823 Company reglstratlon number N16458T3 (Northern Irelandl IWC CONVENTION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
IWC CONVENTION LEGAL AND ADMINISTRATIVE INFORMATION Dlractors Kathy Cowan Diane Casement Gail Curry Va1eriE Gibsoii Mary Hambleton Brenda Kelso Laura Mullan Claire Jess Laura Swlnburn Erna Rutter {Appointed 14 Seplgmber 20231 Charlly numbgr 107823 Company number Nl645873 Reglstered offlce 66 Klngs Road Belfasl BT5 6JL Independent examiner MTS Prlor Mcmahon 104-1 Q8 Franc9$ Slr¢el Newtownard5 Down BT23 7DY
IWC CONVENTION CONTENTS Page Trustees RepL>rt repDrt Ind8p8ndent exatnlner's report Stslemenl of financial activlties Balance sheet Noles lo the flnan¢lal 81al8m8nl8 e- 11
IWC CONVENTION TRUSTEES REPORT REPORT (INCLUDING DIRECTORS. REPORT} FOR THE YEAR ENDED 31 MA Y 2024 Th8 Truste8s pr85ent Iheir annual report and financial stat8rnent5 lor the y8ar ended 31 Nay 2024. The fin8nei81 ststemeni$ have been prepared in 8c¢ord8n¢e with the 8¢¢0unb"ng poli¢ies set out in note I to the fin8nci81 slatetnenls and cotnply wilh the Charily's Arbcles. the Cotnpanies Act 2006 and "Accounting and Reporting by Charilies." Staternenl af RecOmended Piaclice applicable to charitie5 preparing treii account5 in accordance wilh the Financlal Reporting Slgndard 8ppllcabl8 in Ihe UK and Republlc ol Ir81and IFRS 1021" las amended for accounlng perlcmjs commencing from 1 January 20161 Objectives and activitie The 8¢livilies (>f IWC flow direclly Irom ils objectives. i e by organising a Bible.lea¢hing ¢onleren¢e on an annual basis. the del&gales hear a cl881 explanation of what the 6iL)18 leaches and 115 Implications for liiing in Ic>day s world. As a result of this. Christian rnalurily is fostered and ils oJlworking cemonstraled in wider personal and comwunily relationships. Th¢se who hove b¢nehle¢ In this period are Chrislian w¢m¢n. most ol whom are resid¢nl In Northern Ireland The Trustèes have paid due rag8rd to guidance i$8ued by thè Charity Comrnission in deeiding what ath'vilies the Charity should undertake. A¢hievom•nts and p•rfomian¢• In ihis period we ran one event on 14 October 2023, in Assembly Buildings in Bellasl. Speakin9 tts a packed building wgs Courtn&y D¢)Ctor, from Ihe United Statès. Exptyunding Romans 11..33-12.,2, htsr themè w8s'Tr8nsformalion- lo his gloiy, by his MerCs, for our good.. Ayaiii 11)ii wi)l)r¥f)i¥¥ W4Jr¥ suppuild by af) aiiiply-supplied buuK¥Lall pivvid¥d by I11¥ Evai'igulical Bwkbl)up, f¥&Lui iiiy trusted Christian resources and books recommended by both members ol the Committee and the speaker5 as well as al0Unted goody bags. Video re¢c)rdings of Ihe talks have been mode ovailable on the IWC website free ol ¢haige after the event. IWC make6 signifi¢gnt Ljse of volunloors to steward the various evonls and tho Committe¢ is again d*gply thankful that so many previous volunleers r8lurned lo serve in this way during Ihis period. FSnanclal rovlow This year for the first lime in over 10 years we raised the lickel price lo £18. This year's accounts shcw a tumover from this event of £17,692, 8nd after an hgnorarium lor the speakers, disbursements for the venue, food, technology and other Decessary expenses Incuired. a Iosg of £7.566. The goody bags and food lor the rllany vdunleer8 were agaln part subsidised by the proffi'ts from previous years, and the Charity covered the Eventbrile booking lees. None ol the Committee receives any payment lor lime or services. In this past year our reserves have been eroded further and as we look to the fulurtr we acknowledge Ihal it will not be ptss&ble lo keep ts'¢kel prices al the88 levels in order lo cover costs and to ensure the finarLial viability of the ministry for the future. During the year the Charity generated incoming re80urces of £17,692 Outgolng r9$0urcgs werg £25,2581gavln9 nei oulgolng rgsour¢es of £7,566 lor the year 10 31 May 2024. It Is th8 policy ol the Chanly that unrestncted lun¢s which have not been Llesignated lor a specific use should be maintained at a level equivalent to between three and six month's expenditure. The Trustees considw that reserves at this lèv81 will onsurè Ihat, In thè èvènt of a slgnlficant drop In funding, thèy will bè abl6 to contlnuè tho Charlty's current clivities while consid8ralion 15 given to ways in which additional funds may be raised. Thi5 level of res8rv85 h85 been maintained throughout the year. The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure lo Ihe major risks. Plans fur the future ministry of IWC conbnua wilh a workshop on 1 June 2024 with Rico Ti-e entided 'Holding out Hop8, and a conference with Jen Wilkin on 'Ten Words to Live By, on Friday 11 and SBturd8y 12 October 2024.
IWC CONVENTION TRUSTEES REPORT REPORT (INCLUDING DIRECTORS. REPORT} (CONTINUED} FOR THE YEAR ENDED 31 MA Y 2024 Structure. govemanc• and man8gem8nt The trustees are also directors ol company IWC Conv8ntSon INI 6458731 under th8 provSslons of lh& Companies Act 2006. The CDmpany was r8gist8r8J as a charity number 107823 with Iha Charity Commisslon Northern Ir•land on 21 Septernber 2020. ThA organisatian Iq grnad by Artirlftq Adnptpd in 2n17. ThfirÉ+ arè. rurr8ntly ln. Iru8tE88 wha mggt raoularly In 8ÉlEJtrl Ihernes and speaker5 and to plan Bvent5, as 1well 85 take on board feedback. The board seeks to ensure that a range of age5 and skills and church commitment5 are represented. Meets'ng8 are minuted. Th9 Tiustge¥. who ¥iF algo the dirg¢lors lor the purposg of ctsmpany law, and whts during Ihg yegl and up lo th dats of signature of the financial slalernents were.. Kathy Cowan Diane Casement Gail Curry Valerie Gibson lary Hamblelon Brènda Kelso Laura Mullan Clalre Jess Laura Swinburn Emma Ruller IAppoinled 14 September 20231 Plans for the future Plans for the future mlni8try of IWC conllnut wllh Courtney Oo¢lor 8Ptaking on Tran8formatlon Ilo hls glory, by hls merci95, for our good), on 19 Octctjer 2023 and a workshop on 1 JLn8 2024 with Rico Ticg 8ntitl8d 'Holding out Hopg,. Thè Trust88s rèptrrt report was pprovd by Ihe Board of Trust88$, Kathy Cowan Trustee Dated. 27 February 2025
IWC CONVENTION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF IWC CONVENTION I report lo the Trustees on my examination ol th8 linanaal slat8m8nls ol IWC Convention (the Charilyl for Ihe year ended 31 May 2024. Ro$P•¢tIvo ro$pon$lbllltS9$ of Irusto0$ and oxamlnor As Ihe Trusl&es ol the Charily land also its direclors for Ihe purk%)sEs of company lawl you ar& responsible for thè pr8paralion ol lh8 lina1 slal8m8n15 in accordanc8 with the r8quir8rn8nt5 01 lh8 Cotnpani85 Act 20J6 (the 2006 Actl. Having satisfied myselllhal Ihe financial slalemenls of the Charity 8re not required lo be 8udiled ijnder Company law and arg eligible for independent examination, rt is rny responsibility lo.. 9Xornln$ th¢ aoUnt$ undor 9g¢tlon 65 of th& Charlt19s A¢t (Northgrn Irglandl 2008.. lollow the procedures18id down in the general DireGlions giv&n by the Charity Cotnmission for Norihgrn Ireland under sp.rtian 6519llhl ol the Charities Act,. and stale whether partlcular matters havg Come lo my allenlion. B¥i¥ of independent examiner'o report I IiÈlV¥ iIX¢llTiiii¥d youi Ll)arily aLLWilts a¥ i¥yuir¥il uiidtrr S¥Llioii 85 L)1 11)¥ Cliarili¥¥ Acl éi)d IT)y XalTiifiÈiliuii Wds carrl8d out in accordanc8 wlth th8 genèral Dlr8ctlons glv9n by th8 Charity Commlsslon for North&m Ireland under se¢lion 65IGllbl ol the Ch8rlties Act. The ex8min81ion in¢luded a review ol the a¢¢ounting records kèpt by the charity and a comparison ol th8 accounts presented wilh those record8. It also included consideration of any unusual rtems or isclosur&s in thé accounts, and saékin9 explanations from you as charity Irust88s conc8rning any such matters. My role Ss to slate whether any mat8rial matl6rs hav8 com8 lo my aitenlion givlng m8 caus8 lo beli8v8'. o¢counllng r&¢ord$ not k&pl In rgSP9Ct ol tho Charlty 8$ rgquir?d by sgdion 386 of Ihg 2006 A¢l,' or the financial statements do not ac¢ord with those records., or the finanel81 statements do not ¢omply with Ihe acJ)untlng rÈquiremenls ol se¢lion 396 01 the 2006 Act other Ih8n any requirement that the accounls give a tru8 and lair wi8w which is not a matter considerod as part ol an independent examination,. or the financial 51alement5 have nol been prepared in accordence with Ihe melhods 8nd principles of the Statement ol RecDmm•nded Practice for accounting and rèporting by charilles applicabl8 to charitlos pr•paring th8lf aGGouiits In aGGE)iJaiice wltli the Finandal Reportir¥J Standard appliGable in the UK èiid RepuL71iG of Ireland IFRS 1021. Ind•pgnd¢nt ¢xamln•r'$ $tat•mont I have completed my examination and have no concerns in respectof the matters111 to141 listed abov& and, in eonn¢¢tion with lollowlng tho Dir&¢tions ol th• Charity Commission fcsr Northorn Iroland, I havo found no mattèrs that raquirt drawing lo your attention. Paula Armstrong For and on hall of Mfs Prior Mcmahon 104-108 Frances Street Newtownards Down T23 7DY Dal8d.. 27 F8bruary 2025
IWC CONVENTION STATEMENT OF FINANCIAL ACTtVlTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MA Y 2024 Unrestri¢t•d funds 2024 Unr•8tri¢ted fundg 2023 Notes Incom• from= Charitable activibe5 Inveslments 17,692 26,955 Total Incom 17,692 26,3 Expenditure on: Charitabl¢ ¥livI19$ 25,258 28,342 Total •xp•ndltur• 25,258 28.342 Net expenditure and movement in fund? 17,5661 11,3791 Reconclllatlon of funds.. Fund balanc8s at 1 Jun8 2023 9,239 10,618 Fund balanc•8 at 31 May 2024 1,673 9,239 The sialem¢nl of finoncial oclivilieg in¢ludes o119oins ond losses re¢o9nised in the year. All income expenditure derive frorn coniinuing activili8S.
IWC CONVENTION BALANCE SHEET AS AT31 AIAY202A 2024 2023 Not9¥ Curront assots Debtors Cash at bank and in hand 11 985 11,437 1,473 15,625 12,422 17.098 Cr•dltors: amounts falllng dug wlthln one year 12 110.7491 17,8591 Net current assets 1,673 9.239 N•t as1& axcludlng pgn51on Ilablllly 1,673 9,239 The lund¥ of the ChaTIty Unresirictsd funds 1,6T3 9,239 1,673 9,239 The cornpany is enlilled lo the exemption from Ihe audit requirement ntained in sedion 477 of the Componies Act 2006, lor the year gndgd 31 May 2024. The directors acknowlge their responsibilities lor complying with tt)e requirements of the CDMp8nies Act 2006 with respect to accountr'ng reetrrd8 8nd th6 preparation ol linantial slat8m8nls. The members have not required the cornpany lo obtain an audit of its financial statements lor the year in question in a¢¢ordon¢¢ wilh se10n 476. I h888 Iinanclal slatarn8nts havè téen pr•par8d In accordanc• wlth the provlsions applicaD18 to companies subject to th8 sméll cornpaniès re91n. Th& financial slalem&n18 w6re approved by tha Truste88 on 27 Fabruary 2025 Kathy Cowan Truste? Company registration number N1645873 (Northern Ireland)
IWC CONVENTION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MA Y 2024 Ac¢ountSng pollcle8 Ch8rity infowmation IWC Convention is a pdval• company1Smited by guarantee InCOrrat•d Sn Northern Ir81and. The registered offic8 is 66 Kings Road, Belfast, BTS 6JL. 1.1 Accounting conventlon Th& financial stalem&nts hav8 b88n pr8parèd in aceordanc& ivith lh8 Charity'819overning docum&ntl, th8 Compani8S Act 2006, FRS 102 The Financi81 Reporting Standard applic8ble in the UK and Republic of Irdand" I'FRS 102.1 and the charl.eS SORP 'Accounts'ng and Reporting by Charities.. Statement of RecomrTh9nded Practice applicable to charities preparing their accounts in aeeordance with the Financial Reporting Standard applicable in the UK and Republi¢ ol Ireland IFRS 1021. lefftellve 1 January 20191. Thè Charlly is a Public Bén8fil Enlity as dellned by FRS 102. Thè Charlly has k&n •dvanlag8 of thè provSslons In thè SORP lor eh4riU•$ not lo pr8paré s Stattni8nl ol Cash Flows. The financial slalements are prepared in 618rfing, which 15 the functional currency ol the Charity. Monetary amounts in firidfiLltil sldli>iri¥ril¥ rour)d¥d tu Ili# Iitldf&?l £. The linon¢io1 Stolements ho'le been prepored under the historical ¢osl ¢onvents'on, Imodified lo include the revaluolion ol freehold properties and lo include inyestrllgnl propgrtie$ arKI certain financial inslrutnents al lair v8lug1. The princiwl accounting policies adopted are set out below. 1.2 Golng ¢on¢gm Al the lirne of approving the financial slalernenls, the Tru51ee5 have a reasonable eKpeclalion Ih8t the Charity has ad8qual8 r8sourc8s to continu8 in operational 8xist8nc8 lor th8 foresè8abl8 futur•. Thus th8 Trusl•es conlinue to adopt th8 golng conc8rn basis ol accounllng In pr8parlng the Ilnandal slatarn8nls. 1.3 Ch8rlt8blo fund$ Unre51ricled funds are available for use at the discrellon ol the Trustees in furtherance of their charhablg objecllves. Restricted lund¥ are gubj8et 10 specrfie conditions by donors or 9rsnlors ag to how they May be used. The purptrs8S and uses ol the restricted funds are sel out in the notes to the linanaal staternents. EndowmÈnt lunds a subjèct to spèeifie condltions by donors Ihat thè eapital musl ba maintainèd by the Charity, 1.4 Incorne Income is racognis8d when th8 Charity Is legally 8nti118d to Il afl8r any performanc conditions hav¥ b•8n m#l. th• arnount5 be eaSured reliably, and it 15 probable that incorne will be rec8ived. Cash donations artr r¥cognis¥d on rèceipt. Other donations ar¥ recognisèd onc¥ th¥ Charity has b¥¥n Molffittd of th donation, unless perforrnance conditions require deferral of the amount. Income tax recoverable in relatio to donations ceived under Gift Aid or deed5 of covenant is recognised at the time of the donation. Legacie5 are recognised on receipt ar otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the arnount is nct known, the legacy is treated as a contingent asset.
IWC CONVENTION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2024 A¢¢ounting policies Icontinutdl 1.5 Expendituro Expenditure Is rOgnised On there is a legal orconstructive obligation to transfereconomic benefit to a third paty, it is probablo that a tr8nsf¥r ol oconomic bongfits will bo roquired in setugmgnl, and Ihe amount of the obligation can b$ measured reliably. Exppndilur9 is classiligd by activity. The costs of each a¢tivity arg rnad9 up of thg tol31 ol dir9ft ¢osts and shared cosls, induding suppom aosts involved in undertaking each activity. Direct costs attributable to a singl& activity are allocated directly to that activity. Shared costs which contribute to more than one activity and supptsrt costs which ale not allributabl8 to a single activity are apportion8d balwa8n tho$8 aclivit18s on a basis Lonsist8nl with Ihe use ol resources. Central staff costs are allocated on the basis of tirne spent. and depreciation charge5 are allocated on the portion ol the asset's use. 1.6 Cash and cash èqulvalènts Cash and cash equivalgnls Include cash in hand. depo5115 held al call wth banks. olher short-lerm liquid investments with original maturities of three months or less, and bank overdrafts. 8ank overdrafts are shown wthin borrowin9s in ¢urrgnl liabiliti9S. 1.7 FinanciJl inslrumenty Th8 Cliaiily lias gl¥Ll#d lo apply thè provlsions of Saction 11 'Basic FlnancSal Instrum8nts' and Secb'on 12 '0th•r Flnanclal Inslrurnenls Issues, of FRS 102 10 all of hs Ilnancial Insirumonl$, Financlal In$trum•nts ar• r•cogni6•d In th• Charity's b¥lan¢• $ho•1 wh•n th• Charily b•comg6 party to th• ¢ontractu•l provI5ions of the inslrumenl. Financlal assats and liabillliès ar8 offset, wllh th8 nat amounts pr8s8nt8d in tho financlal slat•rn8nts, when Ih•r8 is legally ènforcèabl8 right to sèl off thè rècognisèd arnounts and th8re Is an InlÈntlon to sèttlè on a nèt basls or to rèallsè th6 a8s81 and seille the Ilabllty slmullJn8¢usly. 8asic financial 088ets Basic fi'nancial assets. which include debtors and cash and bank balances. are initially measured at transaction price induding Ironso¢tion costs end are subsequenlly ¢arried al emortised ¢o$l using the effective interest melhod unless the arrgngemgnl con8lilules 8 financing Ir8n5aclion, whore the IrBnsa¢lion 15 tneasured al Ihg presgnt valug of the future recelpls dlscounied ai a rnarkel rate of Interest. Flnanckl asseis classlfled a5 recelvable wllhln one year are n amort1991J. Basic financi41 lff•billtl•s Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless thtr 8rr8ngomeni ¢onctitutes a financing trgn$3¢tion, w,hor• th6 dobl instnJm0nt is measurod 8t tha prosent v¥lu8 of th• future payments discounted al a market ral• ol Interest. Financlal Ilabllilles classifiod as payable within on8 yéar ar¥ not amortls*d. Debt instruments are subsequently cariigd al arn¢Jlis¥d cost. using the effaclive intertrsl rate m8thryJ. Trade cr8dltors are obligalSons to pay for goods or servlc85 Ihat hav8 been acquired in the ordinary coursg of optrrations from suppliers. Amounts payabltr are cLtyssifitrd as currtrnt Iiabililitrs il pas'mtrnt 15 due wrthin one year or loss. If not, they are presented as non-currenl liabilities. TrBde creditors are recognised inltially at transaction price and subsequently rneasured al amortised cost using tre effective inleresl rnelhod. D•r•¢ggnl¢lon of Iln8n¢lo1 Ilabllttlo8 Financial liabilits'es ar8 darècognisèd whèn thè Charily's contractual obligations axpire or ara dischargad or cancall$d.
IWC CONVENTION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2024 A¢¢ounting policies Icontinutdl i.e Employee bentsfitJ The Cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Terminalon benefits are recognised imrnediately as an expense when the Charity is dernonstratily comrnitted la lerrninate the employment of en employee or to provide termination benefits. Critical a¢counting e¥timates and judgements In the applicakn'on of the Gharily s arLounkn'ng policps. the Trustees are required to rnake judgernenls, estimates and assumptions abcul the carrying amount of assols and liabilitios that are not roadily apparonl from other sources. The e81irnales and associaled assumptions are based on historical gxpgrienGe and other factor8 that arg considergd to be relevant. Actual iesults may differ from these estimates, The eslifflat85 and underlying assurnplions are revi8wed on an ongoing basis. Revisions to aUntIng gslirnales ere recogni5ed in the period in which tho estimate is revised where the reviskjn affects only Ihal period, or in the period of Ihg revlslon and fuluro p9rlcés wher$ the r9vlsion affe¢ls both ¢urr$nl luturg porlods. Ch•ritble rtivitie Event In¢obn• Evont incomo 2024 2023 Event income 17,692 26.955 In¢om• from invo8tments Unrestricted Unrestricted fund5 lund9 2024 2023 Inleresl receivable
IWC CONVENTION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2024 Expendltur6 on charStablo actlvltles 2024 2023 Dlr•ct costs Roorn Hire Car Parking Ev&iil Loslb 5,700 295 1G.G04 6,425 )0 18,017 22.599 25,542 Share of 8upport and governance costs (see note 61 Govofnan¢8 2,659 2.800 25,258 28,342 Anaty¥is by lund Unreslri¢led funds 25,258 28,342 Support ¢ost$ Support ¢o$ts Governance ¢0919 2024 2023 Insurance Computer costs Sundry expen8es Bank charges Prolgsslonal f$ Advertising Booklng fees AcGountan¢y1999 288 282 35 179 288 282 35 179 42fj 246 36 178 1.269 606 1,269 606 2,659 2,659 Analysed bglwoen Charitabl¥ activ#$ 2,659 2,659 Not mov•m8nt in fund• 2024 2023 The net movement in funds is staled after chargingllcreditingl.. Fees payable for he independent exarnination of the charitvs financial slalemenls 806
IWC CONVENTION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2024 Trustees None of the Trust88s lor any persons connected with them) r8C8ived ony remunar@tion or b8nefrts from th8 Chority during Ih8 y8ai. Empltsy•e$ Th& av8rag8 monthly nLJmb8r of 8mploy&&s during th8 y8ar wa$.. 2024 Numbor 2023 Numbor Total There were no 8p10yees whose annual rernuneralion was more than £60,000. R4mungratlon of koy manag•m•nt Por8onng1 The remunerollon of key monogpm¢ni personnel was as follcws.. 10 Taxatlon The charity 18 exempt from tsxation on its activities because all its incorlle is applied for charitable purpo5. 11 D•blor8 2024 2023 Amounts falllng due wlthln one year.. Prepayments and accrued Income 1,473 12 Credilori.. amourts falling due within one year 2024 2023 Paymenls received on account Accruals and deferred income 10,149 600 7,859 10,749 7,859 13 Unre6tricted funds Thè unrastrictgd funds of tha charity comprisa thè unaxpanded balancès ol donations and grants which are not subject to specific condthon5 by donors and grantors a5 to how they May b8 used. Th85e indude d85ign3ted fund5 which have been Set aside out of unrestricted funds by the trustees for specific purposes. At 1 Jun8 21123 Incomlng resources Rosourco$ At 31 May 2024 expended Gen8ral lunds 9.239 17,692 125,2581 1,613 10-
IWC CONVENTION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2024 13 Unr•$tri¢tsd furnd8 Icontinutdl Prtsvitsus ytsar.. At 1 Juno 2022 Ineoming r¢sour¢o$ Retour¢•s At 31 May 2023 9xp•nd•d General funds 10,618 26,963 128.3421 9,239 14 Related party transactlons Th8r8 w&re no dL5closabl8 r8latod party transactlons during th8 y8ar12023- nono). 11
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