Charity registration number NIC108271 (Northern Ireland) Company registration number N1675521 GENESIS NETWORK ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 GENESIS NETWORK LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mrs E Cousins Mr P A Mcmillan MrA Hair MrA W Agnew Mrs V Shields Charity number (Northern Ireland) NIC108271 Company number N1675521 Registered office 6 Annadale Avenue Belfast BT7 3JH Independent examiner Miscampbell & Co 6 Annadale Avenue Belfast BT7 3JH GENESIS NETWORK CONTENTS Page Trustees, report Independent examinerfs report Statement of financial activities Balance sheet Notes to the financial statements 7-12 GENESIS NETWORK TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 JANUARY 2025 The trustees present their annual report and financial statements for the year ended 31 January 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 [governing documentl, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in a¢cordan¢e with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors. Report) Regulations 2013 has been omitted. The trustees express deep gratitude to its staff, volunteers and advisors for their hard work and efficiency in the day-to-day administration of the charities programmes and services. Objectives and activities Genesis Networks objects include-. (1) To present Jesus Christ to business people, professionals and marketplace leaders and train them to carry out the Great Commission (as described in Matthew 28-18-20)., (2) To develop and equip Christians to advance Christianity., (3) To setve the general public and in particular business people. professionals and marketplace leaders through the Christian faith. (4) The promotion of Christianity by the provision of social and recreational facilities in a Christian context for the benefit of the general public. strategies for achieving aims and objectives The trustees built on our 3 key themes that have been developed to help deliver the core objectives. These themes are EXPLORE, EQUIP and ENGAGE. Explore- Making Jesus Christ known to marketplace leaders in the Northern Irish business community. Equip - Resource Christian business people, professionals and marketplace leaders in living out their faith in the marketplace. Engage - Create opportunities for strong relationships to be Created and discipleship to take place The Trustees are satisfied with the committee's perfomiance over the year. In particular. the action plan, which sets out the key objectives, has been instrumental in focusing attention on the organisations core values and enabling progress to be made in realising these goals. Public benefit The trustees wish to take this opportunity to review Genesis perfomiance over the past year and report on the work of the organisation, which continues to seek to work with everyone in the business Community. 1. Explore In this account period we held.. Evangelistic Events in person Developed and ran our chaplaincy training programme for business Developed plans forAlpha for business GENESIS NETWORK TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025 2. Equip: In this accounting period we.. Held events online and in person Partnered with other organisations to deliver helpful content Built an online presence through story telling Worked with a partner to deliver a public leadership program Built a mentorship program for business people Delivered our first Equip conference 3. Engage In this a¢¢ounting period we- Grew and developed our existing regional hubs Launched new regional Hub locations across Nl Facilitated monthly hub gatherings Held a weekly online prayer gathering Took opportunities to visit businesses to offer prayer and support Held network wide Christmas event Achievements and performance Significant activities and achievements against objectlV8S The trustees were successful in growing the existing regional hubs, providing weekly online content and regularly bringing together business people, under our core themes, to deliver the objects of the company in a way that adapted to the changing environment. Furthermore we grew and launched new Hubs in various lo¢ations across Northern Ireland. We held successful events engaging with business people from across Northern Ireland. Over the course of this year. we build greater brand awareness and developed new relationships to allow the Charity to flourish in the years ahead. Financial review Going concern The Trustees are satisfied with the Committee's performance over the year and its year-end financial position. Total income for the year amounted to £71,422 (2024: £53.386). Total expenditure for the year amounted to £69,372 (2024.. £64,167). This resulted in an operating deficit of £2,050 {2024'. surplus of £10,781). After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they ¢ontinue to adopt the going concern basis in preparing the financial ststements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. GENESIS NETWORK TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025 Reserves policy The Trustees of Genesis Network recognise Ihe importance of being financially prudent. The Charitys reserves fall into Iwo categories: Restricted Reserves and General Reserves. Restricted Reserves These reserves are ring fenced and only available for use in accordance with the donors. express intentions as agreed or acknowledged by the Truslees. General Reserves These reserves comprise sums that are freely available for general use and which are retained to enable the trustees to fulfil the Charity's aims. The general reserve is sel at a level to wilhsland any short-term financial risks, the main risk being a significant fall in income. If the general reserve falls outside the range of 2 - 3 months, charitable expenditure cover, Ihe truslees will review and make changes. as they consider appropriate. The general reserve is not treated as an endowment fund. Al the close of this accounting period the company resetves are lower than the level we have sel as trustees, we have however donor commitmenl for the next accounting year which will take us back into a healthier reserves position Structure, govemance and management Genesis Ne￿Ork is registered as a charitable company limited by guarantee and was set up by a Trust deed. 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.. Mrs E Cousins Mr D Jackson Mr PA Mcmillan MrA Hair MrA W Agnew Mrs V Shields (Resigned 4 October 2024) Recmitment and appointment of trustees The management of the Company is the responsibility of the Trustees who are elected and CQvOPted under the lerms ofthe Trust deed. Other matters Funds held as custodian No funds are held as custodian on behalf of others. The trustees, report was approved by the Board of Trustees. Mrs E Cousins Trustee Mrs V Shields Trustee 3 October 2025 GENESIS NETWORK INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GENESIS NETWORK I report on the financial statements of the charity for the year ended 31 January 2025, which are sel out on pages 5 to 12. Responsibilities and basis of report As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act (Northern Ireland) 2008. I report in respect of my examination of the Charity's financial statements carried out under the Charities Act {Northern Ireland) 2008. In carrying out my examination I have followed all the applicable directions given by the Charity Commission under the Charities Act (Northern Ireland) 2009. Independent examiner's statement Since the charity's gross income does not exceed £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of Chartered Accountants Ireland, which is one ofthe listed bodies. It is my responsibility to- 1. examine the accounts under section 65 of the Charities Act 2. follow the procedures laid down in the general directions given by the Commission under section 65 (9)(b} of the Charities Act 3. state whether particular matters have Come to my attention. I have examined your charity accounts as required under section 65 of the Charities Act and my examinalion was carried out in accordance with the general directions given by the Charity Commission for Northern Ireland under section (9)(b) of the Charities Act. My examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It a150 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 corne to my attention giving me cause to believe: accounting records were not kept in accordance with section 63 of the Charities Act- or the financial statements do not accord with those re¢ords,' or the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports} Regulations 2008 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. that there is further information needed for a proper understanding of the accounts to be reached. I 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, I have found no matters that require drawing to your attention. Jonathan R Bethel FCA Mlscampbell & Co 6 Annadale Avenue Belfast BT7 3JH Dated: 3 October 2025 GENESIS NETWORK STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JANUARY 2025 Unrestricted funds 2025 Unrestricted funds 2024 Notes Income and endowments from.. Donations and legacies other income 55,171 16,251 35,198 18,188 Total income 71,422 53,386 Expenditu￿ on: Charitable activities 69,425 64,167 Total expenditure 69,425 64,167 Net in¢omel(expenditure) and movement in funds 1,997 (10,781) Reconciliation of funds: Fund balances at 1 February 2024 10,268 21,049 Fund balances at 31 January 2025 12,265 10,268 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. GENESIS NETWORK BALANCE SHEET AS AT 31 JANUARY 2025 2025 2024 Notes Current assets Debtors Cash at bank and in hand 12 396 14,238 382 11,812 14,634 12,194 Creditors: amounts falling due within one year 13 {2,369) (1,926) Net current assets 12,265 10,268 Net assets excludlng pension liability 12,265 10,268 The funds of the charity Unrestricted funds 12.265 10.268 12,265 10,268 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 January 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 ils financial slatements for the year in question in accordance with section 476. These 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 3 October 2025 Mrs E Cousins Trustee Mrs V Shields Trustee Company registration number N1675521 (Northern Ireland) GENESIS NETWORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 Accounting policies Charity information The Genesis Ne￿Ork is a charitable company limited by guarantee. The charitable company is incorporated in Northern Ireland and has the company number N1675521. The registered office address is 6 Annadale Avenue, Belfast, BT7 3JH. The principal activity of the charitable company is to make Jesus Christ known to marketplace leaders in the business community through events, media and equipping our ne￿ork. 1.1 Accounting conventlon The financial statements have been prepared in accordance with the ¢harity's goveming document, the Companies Act 2006, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities.. Statement of Re¢ommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" 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 statanent of cash flows. The financial statements are prepared in sterling, whi¢h is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out 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 preparrng 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. Investment income. gains and losses are allocated to the appropriate fund. 1.4 Income All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the servi¢e. GENESIS NETWORK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025 Accounting policies (Continued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, 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 attributsble to a single activity are allocated directly to that activity. Shared costs which contribute to rnore than one a¢tivity and support costs which are not attributable to a single activity are apportioned between those activities on a basis ¢onsistent 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. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Computers 33% straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 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. 1.8 Financial instruments The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 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 method 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. GENESIS NETWORK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025 Accounting policies {Continued) 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 obligations to pay for goods or 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 the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.9 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 re¢ognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.10 Pensions The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year. Critical accounting estimates and judgemènts 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 future periods where the revision affects both current and future periods. Income from donations and legacies Unrestricted funds 2025 Unrestricted funds 2024 Donations and gifts 55,171 35,198 GENESIS NETWORK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025 Other income Unrestricted Unrestricted funds funds 2025 2024 Events in¢ome 16,251 18,188 Expendlture on charitable activities Unrestricted Unrestricted funds funds 2025 2024 Direct costs Share of support and governance costs (see note 6) Support Governance 67,535 1,890 61,933 2,234 69,425 64,167 Analysis by fund Unrestricted funds 69,425 64,167 Support costs allocated to activities 2025 2024 Event costs Consultancy Insurance Marketing & online Printing & stationery Legal fees Ministry expenses staff costs Other expenses Governance costs 13,086 22,660 637 2,723 468 538 1.486 25.106 831 1,890 15,524 20,240 171 5,376 484 1,572 16.781 1.229 2.790 69,425 64.167 Analysed between: Unrestricted funds 69,425 64,167 10- GENESIS NETWORK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025 Support costs allocated to activities (Continued) Other expenses are made up of the following.. 2025 2024 Bank fees General expenses 492 339 761 468 Total 831 1,229 Net movement in funds 2025 2024 The net movement in funds is ststed after chargingl(crediting): Fees payable for the independent examination of the charity's financial statements Depreciation of owned tangible fixed assets 1,890 2.234 556 Independent examiner's remuneration 2025 2024 For services Independent examination of the financial statements of the charity 1.890 2,234 Trustees Daniel Jackson resigned as a Trustee on 4 October 2024. Daniel Jackson received £16,940 for consultancy work, carried out in the normal course of the Charity's activities to that date. 10 Employees The average monthly number of employees during the year was.. 2025 Number 2024 Number There were no employees whose annual remuneration was more than £60,000. 11 Taxation The charity is exempt from tax on income and gains falling within section 524 and 525 of the IncorrE Tax Act 2007 or section 256 of the Taxation of Chargeable Gains Act to the extent that these are applied to its charitable purpose 11 GENESIS NETWORK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025 12 Debtors 2025 2024 Amounts falling due withln one year: Prepayments and accrued income 396 382 13 Creditors: amounts falling due wlthln one year 2025 2024 Other creditors Accruals and deferred income 519 1,850 166 1,760 2,369 1,926 14 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 spe¢ifi¢ purposes. At 1 February 2024 Incoming resources Resources At 31 January expended 2025 General funds 10,268 71,422 (69,425) 12,265 Previous year: At 1 February 2023 Incoming resources Resources At 31 January expended 2024 General funds 21.049 53,386 (64,167) 10,268 15 Related party transactions During the year there was at total of £22,660 (2024: £20,240) paid in related party transactions. Daniel Jackson {Trustee) received £22,660 (2024.. £20,240) for consultancy work, carried out in the normal course of the Charity's activities, during the year. Daniel Jackson resigned as a Trustee on 4 October 2024. 12-