Charity registration number 107823
Company registration number NI645873 (Northern Ireland)
IwC CONVENTION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
IWC CONVENTION
LEGAL AND ADMINISTRATIVE INFORMATION
| Directors | Kathy Cowan |
|---|---|
| Diane Casement | |
| Gail Curry | |
| Valerie Gibson | |
| Brenda Kelso | |
| Laura Mullan | |
| Claire Jess | |
| Laura Swinburn | |
| Emma Rutter | |
| Charity number | 107823 |
| Company number | NI645873 |
| Registered office | 66 Kings Road |
| Belfast | |
| BT5 6JL | |
| Independent examiner | MTS Prior McMahon |
| c/o Ards Business Hub | |
| Sketrick House | |
| Jubilee Road | |
| Newtownards | |
| Co Down | |
| BT234YH |
IWC CONVENTION
CONTENTS
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Page
Trustees Report report 1-3
Independent examiner's report 4
Statement of financial activities ie)
Balance sheet 6
Notes to the financial statements 7-11
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IWC CONVENTION
TRUSTEES REPORT REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 MAY 2025
The Trustees present their annual report and financial statements for the year ended 31 May 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's Articles, the Companies Act 2006 and “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)" (as amended for accounting periods commencing from 1 January 2016)
Objectives and activities
The activities of IWC flow directly from its objectives, i.e. by organising a Bible-teaching conference on an annual basis, the delegates hear a clear explanation of what the Bible teaches and its implications for living in today’s world. As a result of this, Christian maturity is fostered and its outworking cemonstrated in wider personal and community relationships. Those who have benefited in this period are Christian women, most of whom are resident in Northern Ireland.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
Achievements and performance
In this period we ran two events, both in Assembly Buildings in Belfast. On 1 June 2024 Rico Tice of Christianity Explored hosted a workshop on the theme of ‘Holding out hope’, on evangelism. Confronting head on the reasons why we don’t evangelise, Rico opened up 2 Corinthians 4 about why we need to tell those whom God has sovereignly brought into our lives about Jesus and he gave us many practical pointers as to how we can asx better questions and be faithful in sharing the gospel. Christianily Explored is well known in Northen Ireland and we were really encouraged lhal the venue was well filled with 674 tickets sold. In October we welcomed back Jen Wilkin from Texas to speak on Ten Words - the Ten Commandments. Over 1700 women in all gathered in Belfast on Friday 11 October and Saturday 12 October. The Saturday conference sold out in minutes anc it was decided that due to the overwhelming demand we should offer live-streaming to both individvals and churches. We were able to do this for free and many churches organised a day closer to home with coffee, lunch etc to join us to hear Jen expound Exodus 20 and the law being for our good, before turning to the first table of the law (love the Lord your God) and the second (lcve your neighbour as yourself). Jen’s teaching was clear, exegetically faithful and challenging and feedback received was overwhelmingly positive.
Again the conferences were supported by a bookstall provided by the Evangelical Bookshop, featuring trusted Christian resources aid books recommended by both members of the Committee and tre speakers as well as discounted book bundles. Due to contractual licensing restrictions we were unable to make the videos of the Jen Wilkin event generally évailable on the website.
IWC makes significant use of volunteers to steward the various events and the Committee is again deeply thankful that so many previous volunteers returned to serve in this way during this period.
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IWC CONVENTION
TRUSTEES REPORT REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
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Financial review
To this point we had managed to keep the price of tickets unchanged since the first conference in 2012 but as indicated in last year’s report, ticket prices have had to increase, to £20 from £17 for the Saturday conference. This year’s accounts show a turnover from these two events of £44,573, and after an hororarium for the speakers, disbursements for the venue, food, technology and other necessary expenses incurred, a loss for the year of £3,166. The book bundles and food for the many volunteers were again in part subsidised by the profits from previous years. None of the Committee receives any paymert for time or services and we have had to look for ways to save money to avoid excessive price rises. In the previous year the conference madea loss of £7,566. and generally rising expenses have continued to erode our reserves and mean that we are going to be less able to subsidise various aspects of the conference without charging.
During the year the Charity generated incoming resources of £44,573.
Outgoing resources were £47,738 leaving net outgoing resources of £3,166 for the year to 31 May 2025. At 31 May 2025 had negative funds of £1,493.
It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month's expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has 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 to the major risks.
Structure, governance and management The trustees are also directors of the company IWC Convention (NI 645873) under the provisions of the Companies Act 2006. The company was registered as a charity number 107823 witn the Charity Commission Northern Ireland an 21 September 2020.
The organisation is governed by Articles adopted in 2017. In this period there were 9 trustees who met throughout the year to select themes and speakers and plan events. It was with great sadness that we said goodbye to Mary Hambleton, whose work with the volunteers was unstinting and whose inimitable coffee break announcements had for some time been a particular highlight of the Saturday conference. The board seeks to ensure a spread of ages, skillsets and church affiliations are represented. Meetings are minuted.
The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Kathy Cowan Diane Casement Gail Curry Valerie Gibson Mary Hambleton (Resigned 2 April 2025) Brenda Kelso Laura Mullan Claire Jess Laura Swinburn Emma Rutter -2-
IWC CONVENTION
TRUSTEES REPORT REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025
Plans for the future
Taylor Turkington spoke on the book of Habakkuk on 19 October 2025. A Biblical literacy workshop is scheduled to take place on 24 April 2026 taken by Rev Moore Casement, Director of the Cornhill Training Course in Belfast, with Natalie Brand from England due to be the main speaker in October 2026.
The Trustees report report was approved by the Board of Trustees.
Kathy Cowan
Trustee
Dated: 27 February 2026
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IWC CONVENTION
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INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF IWC CONVENTION
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| report to the Trustees on my examination of the financial statements of IWC Convention (the Charity} for the year
ended 31 May 2025.
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Respective responsibilities of trustees and examiner
As the Trustees of the Charity (and also its directors for the purposes of campany law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 {the 2006 Act).
Having satisfied myself that the financial statements of the Charity are not required to be audited under company law and are elig ble for independent examination, it is my responsibility to:
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examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008;
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- 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; and
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state whether particular matters have come to my attention.
Basis of independent examiner's report
| have exarrined your charily accourits as required under seclion 65 of lhe Charities Acl and my examirtation was carried out in accordance with the general Directions given by the Charity Commission for 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. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerming any such matters.
My role is to state whether any material matters have come to my attention giving me cause to believe:
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1 accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or 2 the financial statements do not accord with those records; or
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3 the financial statements 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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4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accountirg 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).
Independent examiner's statement
| 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, | have found no matters that require drawing to your attention.
Paula Armstrong
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For and on behalf of MTS Prior McMahon
c/o Ards Business Hub
Sketrick House
Jubilee Road
Newtownards
Co Down
BT23 4YH
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Dated: 27 February 2026
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IWC CONVENTION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MAY 2025
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| Notes | £ | £ | |
| Income from: | |||
| Charitable activities | 3 | 44,573 | 17,692 |
| Total income | 44,573 | 17,692 | |
| Expenditure on: | |||
| Charitable activities | 4 | 47,739 | 25,258 |
| Total expenditure | 47,739 | 25,258 | |
| Net expenditure and movement in funds | {3,166) | (7,566) | |
| Reconciliation of funds: | |||
| Fund balances at 1 June 2024 | 1,673 | 9,239 | |
| Fundbalancesat31May2025 | (1,493) | 1,673 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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IWC CONVENTION
BALANCE SHEET
AS AT 31 MAY 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Current assets | |||||
| Debtors | 10 | - | 985 | ||
| Cash at bank and in hand | 2,167 | 11,437 | |||
| 2,167 | 12,422 | ||||
| Creditors: amounts falling due within one | 11 | ||||
| year | (3,660) | (10,749) | |||
| Net current {liabilities)/assets | {1,493} | 1,673 | |||
| Net assets excluding pension liability | {1,493} | 1,673 | |||
| The funds of the Charity | |||||
| Unrestricted funds | (1,493) | 1,673 | |||
| (1,493) | 1,673 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 May 2025.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
Ihese financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 27 February 2026
Kathy Cowan Trustee
Company registration number NI645873 (Northern Ireland)
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IWC CONVENTION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
1 Accounting policies
Charity information
IWC Convention is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 66 Kings Road, Belfast, BT5 6JL.
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1.1. Accounting convention
The financial statements have been prepared in accordance with the Charity's [governing document], the Companies
Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (““FRS 102") and
the Charities SORP "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). The Charity is a Public Benefit Entity as defined by FRS
102.
The Charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in
these financial staternents are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation
of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal
accounting policies adopted are set oul below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has
adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to
adopt the going concern basis of accounting in preparing the financial statements.
1.3. Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes
and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.
14 Income
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the
amounts can be neasured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the
donation, unless performance conditions require deferral of tre amount. Income tax recoverable in relation to donations
received under Gift Aid or deeds of covenant is recagnised at the time of the donation.
Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the
amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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IWC CONVENTION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1 Accounting policies
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(Continued)
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15 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7 Financial instruments The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Charity’s balance sheet when the Charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest metiod unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligatians to pay for goods ar services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using tre effective interest method. Derecognition of financial liabilities
Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.
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IWC CONVENTION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1 Accounting policies
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(Continued)
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18 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2 Critical accounting estimates and judgements
In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and “‘uture periods where the revision affects both current and future periods.
3 Charitable activities
| Event | Eventincome | |||
|---|---|---|---|---|
| income | ||||
| 2025 | 2024 | |||
| £ | £ | |||
| Event income | 44,573 | 17,692 | ||
| Expenditure on charitable activities | ||||
| 2025 | 2024 | |||
| £ | £ | |||
| Direct costs | ||||
| Room Hire | 15,480 | 5,700 | ||
| Car Parking | 1,585 | 295 | ||
| Event costs | 28,574 | 16,604 | ||
| 45,639 | 22,599 | |||
| Share of support and governance costs (see note 5) | ||||
| Governance | 2,100 | 2,659 | ||
| 47,739 | 25,258 | |||
| Analysis by fund | ||||
| Unrestrictedfunds | 47,739 | 25,258 |
4 Expenditure on charitable activities
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IWC CONVENTION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
| § | Support costs | ||||
|---|---|---|---|---|---|
| Support costs | Governance | 2025 | 2024 | ||
| costs | |||||
| £ | £ | £ | £ | ||
| Insurance | - | 458 | 458 | 288 | |
| Computer costs | - | 282 | 282 | 282 | |
| Sundry expenses | - | 34 | 34 | 35 | |
| Bank charges | - | 154 | 154 | 179 | |
| Booking fees | - | 562 | 562 | 1,269 | |
| Accountancy fees | - | 610 | 610 | 606 | |
| - | 2,100 | 2,100 | 2,659 | ||
| Analysed between | |||||
| Charitable activities | - | 2,100 | 2,100 | 2,659 | |
| 6 | Net movement in funds | 2025 | 2024 | ||
| £ | £ | ||||
| The net movement in funds is stated after charging/(crediting): | |||||
| Fees payable for the independent examination ofthe charity's financial statements | |||||
| 610 | 606 |
7 Trustees
None of the Trustees {or any persons connected with them) received any remuneration or benefits from the Charity during the year.
8 Employees
The average monthly number of employees during the year was:
| 2025 | 2024 | |
|---|---|---|
| Number | Number | |
| Total | 0 | 0 |
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
9 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
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IWC CONVENTION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025
10 Debtors
| 10 | Debtors | ||
|---|---|---|---|
| 2025 | 2024 | ||
| Amounts falling due within one year: | £ | £ | |
| Prepayments and accrued income | - | 985 | |
| 11 | Creditors: amounts falling due within one year | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Payments received on account | 3,020 | 10,149 | |
| Accruals and deferred income | 640 | 600 | |
| 3,660 | 10,749 |
12 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 June 2024 | Incoming | Resources At 31 May 2025 | Resources At 31 May 2025 | |
|---|---|---|---|---|
| resources | expended | |||
| £ | £ | £ | £ | |
| General funds | 1,673 | 44,573 | (47,739) | (1,493) |
| Previous year: | At 1 June 2023 | Incoming | Resources At 31 May 2024 | |
| resources | expended | |||
| £ | £ | £ | £ | |
| Generalfunds | 9,239 | 17,692 | (25,258) | 1,673 |
13. ~Related party transactions
There were no disclosable related party transactions during the year (2024 - none).
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