ISLAND CHURCH LTD (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 28 FEBRUARY 2024
The trustees present their annual report and financial statements for the year ended 28 February 2024.
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 charitable company's Memorandum and Articles of Association, 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)" (effective 1 January 2019).
Objectives and activities
The objectives of the charitable company are set out in the Memorandum and Articles of Association.
The main objective of the charitable company is to provide a place within the community for Christian fellowship and prayer where people, both believers and nonbelievers, may come together to hear the Gospel of Jesus Christ preached and taught. Where the community may be disciplined in God's Word to find their call and destiny. To obey the Great Commission and bring the Gospel of Jesus Christ to the world as found in Mark 16:15.
The trustees have paid due regard to guidance issued by the Charity Commission of Northern Ireland in deciding what activities the charitable company should undertake.
Achievements and performance
During the year the charitable company received monetary donations of £16,075 (2023 - £22,482), and donations in kind of £38,000 (2023 - £24,000) whilst charitable expenditure amounted to £38,631 (2023 - £36,410).
During the year the charitable company had the use of donated premises to support its objectives and activities which is reflected in the financial statements as a donation in kind. Other donations in kind related to a gift of a van to the charity.
The charitable company, with the help of volunteers, carried out full fellowship services, including children's services, each Sunday morning and Wednesday evening. They also ran corporate prayer meetings on Wednesday evenings, woman's bible studies on Thursday evenings and evangelistic outreaches once a month. A clothing drive and give away was held during the year, where clothing was received and given to those most in need.
The first annual conference of the charitable company, open to all denominations and churches is planned for later this year.
Financial review
The charitable company's financial results are set out in detail on pages 5-13.
There is an overall surplus of unrestricted funds at the year end of £40,850 (2023 - £25,406). The charitable company has no restricted funds.
Due to the nature of the charity's activities, the trustees consider it appropriate to maintain reserves sufficient to meet on-going running costs to cover a twelve month period. The trustees consider a level of £20,000 to be appropriate.
Structure, governance and management
The charitable company is a company limited by guarantee, governed by its Memorandum and Articles of Association dated 1 February 2021.
The charitable company was registered with the Charity Commission for Northern Ireland on 6 April 2022.
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:
JR Penn
KR Penn MT Davison
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ISLAND CHURCH LTD (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2024 Under the requirement of the Memorandum and Articles of Association, directors are appointed and retire by rolation every year. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. Organlsatlon The day to day running of the charitable company is overseen by the trustees. In preparing this report, the trustees have tsken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006. RegISted Office.. 6 Drumlerry Londonderry Co Londonderry BT48 8GQ Company Reg15tration No. N1676012 Charity Registration No. NIC108780 The trustees, repopwas approved by the Board of Twstees. MT Davison Trustee Date.. .. l J.1. l