Company registration number.. NJ650636 Charity registration number.. 107947 Transforn] the World Limited (A company limited by guarantee) Annual Report 2nd Financial Statements for the Year Ended 31 Jartuary 2024 Thomas Oliver & Associates Limited Certified Public Accountant l Moygash¢l Mills Park Dungannon Co Tyrone BT717DH
Transform the World Limited Contents Reference and Administrative Details Trustees, Report 2to3 Independent Examiner's Report 4t05 St&tement of Financial Activities Balance Sheel Notes to the Financial Statements
Transform the World Limited Reference and Administrative Details Charity Registration Number 107947 Company Registration Number N1650636 The charity is incorporated in Northern Ireland. 9 Carolhill Park Ballymena Co Antrim BT42 2DF Registered olee Independent Examiner Thomas Oliv¢r & Associates Litnited Certified Public Accountant Moygashel Mills Park Dungannon Co Tyrone BT717DH Page I
Transform the World Limited Trustees, Report The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year end¢d 31 January 2024. Objeetives and activities Objeets and aims During this year progress has continued to develop significantly, particularly online and in person as international travel has become possible again. We have had some key achievements and have put in place a sound governance structure and ¢onlinue to have access to use of registered office space. Fundraising diselosures Mosl of the funds raised have been by way of voluntary donations from donors who have either made a one-off donation or have a montthly direct debit commitment. Applications were Submitted for funds to a few Trust funds with fundino bring secured from TBF Thompson Trust Fund. Publte benefit Funds have been expended on administration, office costs. travel and venuelhospitality ¢osts. This has enabled us to'.- a) Hold board meetings b) Develop and meet with our volunteers c) Source content from articles and build an online resource library dl Successfully run leadership development courses for leaders online via Zoom e) Continue to run the Encouragers Network fj Engage ivith leaders in 25+ nations g) Provide leaders with access to weekly online prayer support h) Further develop the 'Wisdom Download podcast, framework During this year we also conducted a fiEII revieiv of the chartty. Tliis resulted in the change of our operational name from 'Christiam5 Who Lead, to 'Trdnsfom] the Word,. Trustees and officers The trustees and officers serving during the year and since the year end were as follows.. Trustees: Mr Thomas Stewart (resigned 10 August 2024) Ms Audrey Cu Professor Christopher Shaw Mr James Armstrong (resigned 5 June 2023) Mr Fergus Mcmorrow Page 2
Transform the World Limited Trustees, Report Structure? govern2nce and management Nalure ofgoverniiig document The charity is a company limited by guarantee. goveri)ed by its Memorandum and Articles of Association. It h8S been granted charitable staus by the Charitie5 Commission for Northern Ireland under registration Number NTIC107947. Statement of trustees, responsibilities The trustees (who are also the directors of Tran5forni the World Limited for the purposes of company lawl are responsible for preparing rhe trustees, report and tlie financial statements in accordaiice with applicable law and United Kiiigdom Aecounling Siandai'ds (United KincTdom Geiierally Accepted Ac¢ountiiig Practice), including FRS 102 'The Financial Reporting Standard applicable in the and Republic of Ireland" Company law requires the trustees to prepare financial sialemen15 for each financial year. Under coinpany laii, the trustees mLlSt not approve the financial statetnents unle55 they are satisfied that th¢y give a true and fair view of The stale of affairs of the charitable ¢ompany and of the incomino resources and application of resources, including ils inconie and e.Ypeiiditure. of the cl)arilable ¢ompaiiy for that period. In preparino these financial stateiiienTS. the trustees are required to: sel¢ct suitable accounting policies and apply them consistently. observe the rnethods and principle5 in the Charities SORP. make judtsements and estiniate5 that are reasonable and prudent; state whetheT applicable accounting standards, comprisiniy FRS 102 have been followed, 5ubj¢ct 10 any marerial depa.tur¢s disc105ed and eliplain¢d iii the fii)ancial stat¢m¢nt5- and prepare the financial slalements on the goino con¢em basis Linless il is inappropriate to presume tliat the charitable company will continue iii bLisiness. The trustees are responsible for keeping proper accounrino records Ilial can disclose with reasonable accuracy al aiiy time rlie financial position of the charitable company and enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safegu8rdiiig the assets of the charitable company and hence for takino reasonable steps for the prevention and deie¢iion of fraud aiid otlier irregularilies. The trustees are responsible for ihe maiiitenance and integrity of ihe Corporate and financial information included on the charitable company's u'ebsiie. Leoislation governiiig the preparation and di55eminaiion of financial statemenis may differ from legislation in other jurisdi¢tioiis. The annual repon ivas approved by the trusrees of tlie charity on 15 O¢tober 2024 and signed on its behalf by: Professor Christopher Sham, Trustee
Transform the World Limited Independent Examiner's Report to the trustees of Transform the World Limited ('the Company,) I report to the charity trustees on my examination of the accounts of th¢ Company for the year ended 31 January 2024. Respective responsibilities of trustees and examiner A5 the charity's trustees of Transfom the World Limited (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 Charitie5 A (Northern Ireland) 2008. Having satisfied myself that the accounts of Transform the World Limited are not required to be audited under section 65 of Charities Act (Northern) Ireland 2008 and that an independent examination is needed. It is my responsibility to:. examin¢ the accounts under section 65 of the Charities Act to follow th¢ procedures laid down in the general Directions given by the Charity Commission for Northem Ireland under section 65 {9}(b) of the Charities Act to state wheilier particular matters have ¢ome to my attention Basis of Independent Examiners, Report I have examined your charity accounts as required under section 65 of the Cliarities Act and my examination 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. An examination included a review of the accounting records kepi by the charity and a comparison of the a¢¢ounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking expalnations from the trustees concerning any stlch matters.. I confirni that no matters have Come to my attenlion in ¢onnection with the examination giving me cause to believe: l. That a¢¢ounting record5 were not kept in respect of Transform the World Limited as required by section 63 of the Charities Act. or 2. That the accounts do not accord with those records- or 3. That the accounts do not comply with the accounting requirements of the Charities Act. 4. That there is further infornialion needed for a proper understanding of the accounts tobe rearhed. Page 4
Transform the World Limited Independent Examiner's Report to the trustees of Transform the World Limited ('the Company,) ndependent Examiner's Statement I have ¢ompleted my examination and have no concerns in respect of the matter (l } to (4) listed above and in connections with the following directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention ssociales Limited Certified Public Accountant l Moy<sasliel Mills Park Dungannon Co Tyrone BT717DH 15 October 2024 Page 5
Transform the World Limited Statement of Financi21 Activities for the Year Ended 31 January 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Total 2024 Note Income and Endowments from: Donations and legacies Total income 11,461 1.461 11,461 11,461 Expenditure on: Raising funds Charitable activities (12,871) {318} (12,871) (318) Total expenditure Net expenditure (13,189) (13,189) (1,728) {1.728) Net movement in funds 11,728) (1.728) Reconciliation of funds Total funds brought forward Total fijnds Carried forward 1,820 1.820 92 Unrestricted funds 92 Total 2023 Note Income and Endowments from: Donations and legacies Total income 9.044 9,044 9.044 9,044 Expenditur¢ on: Raising funds Charitable activities (7,740) (270) (7.740) (270) Total expenditure (8,010) (8,010) Net income 1.034 Net movement in funds 1.034 Reconciliation of funds Total funds brought forward Total funds carried forivard 786 786 1,820 1.820 All of the charity's activities derive from continuing operations during the above ttvo periods. The funds breakdown for 2023 is shown in note I l. The notes on page5 8 to 13 form an integral part of these financial statements. Page 6
Transform the World Limited (Registration number: N1650636) Balance Sheet as at 31 January 2024 2024 2023 Note Fixed assets Tangible assets 180 495 Current xssets Cash al bank and iii hand 513 1,878 Creditor5: Amounts fallintr due witliin one year Net eurrent (liabilities)/assets Net assets 10 1601) (553) 188) 92 1,870 Funds of the charity.. Un restricted income funds Unrestricted funds 92 1,820 Total funds 1,8?0 For the financial year endii)g 31 January 2024 tlie cliarity was entitled to exemption froni audit under section 477 of the Companies Act ?006 relating to sn)all conipaiiies. Directors, Fe5ponsibiliries'. The niembers have not required the cliarity to obrain an audit of its accounts for the year li) que5ElOlI in accordance with section 476: and The directors acknowledge their responsibilities for complying with the requirements of the A¢t with respect io accounting records aiid tl)e preparation of accounts. The financial statenienEs on pages 6 to li were approved by Ihe trustees. and autliorised for issue on IS October 2024 and signed on their belialf by.. Professor Christopher Shaw Trustee The notes on paoes 8 to 13 forn) an iiitegral part of these finaii¢ial statements. Page 7
Transform the World Limited Notes to the Financial Statements for the Year Ended 31 January 2024 I Charity status The Charity is limited by guarantee, incorporated in Northern Ireland. and consequently does not have share capital. Each of the trustees is liable to ¢ontribule an amount not exceeding £Nil towards the assets of the charity in the event of liqiiidation. The address of ils registered olTice is= 9 Cai'olhill Park Ballymena Co Antrim BT42 2DF These financial statements were authorised for issue by the trustees on 15 October 2024. 2 Accounting policies Summary of significant aecounting policies and key accounting estimates The priTt¢ipal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless othenvise stated. Statement of eomplianee The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statemenl 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Basis of preparation Trdnsfom) the World Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction valLl¢ iinless otherwise stated in the relevant accounting policy notes. Going concern The Irustees consider that there are no material uncertainlies about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of as5et5 held by the charity. Income and endowments All income is recognised once the charity has entitlement to the income. it is probable that the income will be received and the amounl of the in¢ome receivable Can be measured reliably. Pag¢ 8
Transform the World Limited Notes to the Financial Statements for the Year Ended 31 January 2024 Donations and legqcies Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity befo the charity is entitled to the funds, the inc()tne is deferred and not recognised until either those Conditions are fully met, or the fuifilment of those conditions is wholly within the control of the charity and it is probable that these eondilions will be fulfilled in the reporting period. Expenditure All expenditure is recognised once tliere is a legal or constructive obligation to that expenditure, it is probable settlement Is required and the amount Can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar cost5 to that category. Where Costs cannot be dir¢ctly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation cliarges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Raisingfunds These are costs incurred in attracting volunlary income, the management of investments and those incurred in trading activities that fdise funds. Governance co$t5 These include the costs attributable to the charity's compliance with constitutional and statutory requirern¢nÉs. including audit. strategic management and trns(ees meetings and reimbursed expenses. Taxation The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part I I of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are applied exclusively to eharitable purposes. Tangible fjxed assets Individual fixed assets costing £150.00 or more are initially recorded at cost. less any subsequent accumulated depreciation and subsequent accumulated impairnient losse5. Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost or vaIuation. less any estimated residual value, over their expected useful economic life as follows: Asset class Office Equipment Depreciation method gnd rate 20¢/0 Straight line Cash and Cash equivalents C2sh and cash equivalents Comprise cash on hand and call deposits. and other short-terni highly liquid investments that are readily convertible to a known amount of Cash and are subject to an insignifi¢ant risk of change in value. Page 9
Transform the World Limited Notes to the Financial Statements for the Year Ended 31 January 2024 Trade creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Ac¢ounls payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period. to defer settlement of the creditor for at least Iwelve months after the reporting date. Jf ihere 15 an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaclioTJ price and subsequently measured at amortised Cost using the effertive interest method. Borrowings Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised ¢ost. with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing. Interest expense is recogni5ed on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as CurlIt liabilities unless the charity has an un¢onditional right to defer settlement of the liability for at least twelve monihs after the reporting date. Fund strueture Unrestricted income funds are general fiinds that ar¢ available for use at the trustees discretion in furtherance of the obj¢ctives of the charity. 3 Ineome from donations and legacies Unrestricted funds General Total funds Donations and legacies. Donations from individuals 11,461 11.461 Total for 2024 11.461 11,461 Total for 2023 9,044 9,044 Page 10
Transform the World Limited Notes to the Financial Statements for the Year Ended 31 January 2024 4 Expenditure on raising funds a) Costs of generating donations and leg¥cies Unrestricted funds General Total funds Note Depre¢iation, amortisation and other similar costs Other direct costs of generating voluntary income Total for 2024 315 12,556 315 12,871 12,871 Total for 2023 7.740 7.740 Total costs Direct costs Costs of generating donations and legacies Tot#1 for 2024 12,871 12,871 12,871 12,871 Total for 2023 7.740 7,740 5 Analysis of governance and support eosts Governance tosts Unrestricted funds General Total fund5 Independent examiner fees Examination of the financial statements 318 318 Total for 2024 318 318 Total for 2023 270 270 6 Independent examiner's retnuneration 2024 2023 Examination of the financial statements 318 270 Page 11
Transform the World Limited Notes to the Financial Statements for the Year Ended 31 January 2024 7 Taxation The charity is a registered charity and is therefore exempt from taxation. 8 Tangible fixed assets Other tangible fixed asset Total Cost At l Febrnary 2023 1,573 At 31 January 2024 Depreciation At l February 202) Charge for the year At J l January 2024 1.078 315 1,078 315 Net book value At 31 January 2024 180 180 At 31 January 2023 495 495 9 Cash and cash equivalents 2024 2023 Cash at bank 513 1,878 10 Creditors: amounts falling due Ivithin one year 2024 2023 Trade creditors Other creditors Accruals 300 270 300 ?82 601 553 Pag¢ 12
Transform the World Limited Notes to the Financial Statements for the Year Ended 31 January 2024 I l Funds Balanee at I February 2023 Incoming resources Resources expended Balance at 31 J¥Duary 2024 Unrestricted fund5 General 1,820 11,461 (13,189) 92 Balance at I February 2022 Incoming resources Resources expended Ba19nce at 31 January 2023 Unrestricted funds General 786 9,044 (8,010) 1,820 12 Analysis of net assets between funds Unrestrieted funds Generdl Totsl funds at 31 January 2024 Tangible fixed assets Current assets Current liabilities 180 513 {601) 180 (601) Total net assets 92 92 Unrestricted funds General Total funds at 31 January 2023 Tangible fixed assets Current assets Current liabilities 495 1.878 {553) 495 1,878 (553) Total net asset5 1,820 1.820 13 Analysis of net funds At l FebruAry At 31 January 2023 2024 Cash at bank and in hand 1.878 1,878 Net debt 1,878 1,878 Pag¢ 13