REGISTERED COMPANY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 |
FOR |
3:16 TRUST LIMITED |
REGISTERED COMPANY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 |
FOR |
3:16 TRUST LIMITED |
3:16 TRUST LIMITED |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30 JUNE 2022 |
Page |
Report of the Trustees | 1 | to | 2 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 | to | 6 |
Notes to the Financial Statements | 7 | to | 12 |
3:16 TRUST LIMITED (REGISTERED NUMBER: NI664833) |
REPORT OF THE TRUSTEES |
for the Year Ended 30 JUNE 2022 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2022. The trustees have adopted the provisions of 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 |
Objectives and aims |
3:16 Trust Limited is a Christian organisation and the main objectives are: |
(a) to provide emergency practical assistance to those in crisis, free of charge. This may include, but no limited to, |
providing food and pastoral care. |
(b) provide relief of suffering in mind, body and spirit, in particular though not exclusively as an adjunct to ongoing |
medical treatment. |
(c) offer hope, ongoing support and encouragement for anyone struggling with life controlling issues, such as |
depression or addictions in the form of a drop in centre. |
(d) offer spiritual guidance and instruction in Christian teachings. This will be done without distinction of age, sex, |
race, political, religious or other opinion, primarily in the county of Fermanagh. |
The activities of the Charity include:- |
- providing food bank, opened to the public, using volunteers |
- raising funds through grants and donations to aid the work of the charity |
- co-operate with the support other charities with similar charitable purposes |
- offer prayer and Christian counselling |
- provide Christian education in the form of literature and teaching. |
Significant activities |
The charity also carries out its work by opening to the public to: |
- offer emergency support in times of crisis, for example food parcels |
- provide accredited counselling services |
- offer a drop-in facility for the local community |
- offer bible studies, prayer and other Christian activities |
We work with local businesses, churches and other organisations to encourage generosity in giving donations to 3:16 Trust Limited . All this work is done by a small dedicated group of volunteers. |
A coffee shop was opened on 22 March 2022 and runs every Tuesday with the help of volunteers. The coffee shop sells hot drinks, tray bakes and scones. Any profits from the coffee shop are used to further the charitable objectives of the charity. The main aim of the coffee shop is to provide an opportunity for the local community to seek help and advice if needed. |
Public benefit |
The Trustees seek to ensure that the public benefit requirement is considered and 3:16 Trust Limited facilitates this having regard to the Charity Commission guidance on public benefit. |
Financial Review |
The results for the year ended 30 June 2022 are set out on pages 4 and 5 of the financial statements. |
The total income for the year ended 30 June 2022 amounted to £20,173, £1,594 of which related to the coffee shop. The total expenditure for the year amounted to £15,212 and the cash at the bank at 30 June 2022 amounted to £50,665. |
Going Concern |
After making appropriate enquiries the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of going concern can be found in the Accounting Policies. |
3:16 TRUST LIMITED (REGISTERED NUMBER: NI664833) |
REPORT OF THE TRUSTEES |
for the Year Ended 30 JUNE 2022 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a Memorandum and Articles of Association, and constitutes a limited company, as defined by the Companies Act 2006. The company was incorporated on 3 October 2019 and has applied to be registered with the Charity Commission for Northern Ireland. |
The charity activities were previously carried on by 3:16 Lisnaskea Limited and the assets were transferred on 1 April 2020. |
Prior to incorporation the charity was previously known as 3:16 The Pantry. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Independent Examiner |
William Kenneth Rainey FCA |
Patton Rainey and Associates |
Chartered Accountants |
6 East Bridge Street |
Enniskillen |
Co. Fermanagh |
BT74 7BT |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
3:16 TRUST LIMITED |
I report on the accounts of the company for the year ended 30 June 2022, which are set out on pages four to twelve. |
Respective responsibilities of charity trustees and examiner |
As the charity's trustees (and also the directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. |
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independant examination, it is my responsibility to: |
- | examine the accounts under section 65 of the Charities Act |
- | 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 |
- | state whether particular matters have come to my attention. |
Basis of the independent examiner's report |
I have examined your charity accounts as required under section 65 of the Charities 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. 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 concerning any such matters. |
My role is to state whether any material matters have come to my attention giving me cause to believe: |
1. | That accounting records were not kept in accordance with section 386 of the Companies Act 2006 |
2. | That the accounts do not accord with those accounting records |
3. | That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the 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 |
4. | That there is further information needed for a proper understanding of the accounts to be reached. |
Independent examiner's statement |
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. |
William Kenneth Rainey FCA |
Patton Rainey and Associates |
Chartered Accountants |
6 East Bridge Street |
Enniskillen |
Co. Fermanagh |
BT74 7BT |
25 August 2022 |
3:16 TRUST LIMITED |
STATEMENT OF FINANCIAL ACTIVITIES |
for the Year Ended 30 JUNE 2022 |
30.6.22 | 30.6.21 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities | 2 |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Other |
Total |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 175,862 |
3:16 TRUST LIMITED (REGISTERED NUMBER: NI664833) |
BALANCE SHEET |
30 JUNE 2022 |
30.6.22 | 30.6.21 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 8 |
CURRENT ASSETS |
Stocks | 9 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 10 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 11 |
Unrestricted funds | 175,862 |
TOTAL FUNDS | 175,862 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
3:16 TRUST LIMITED (REGISTERED NUMBER: NI664833) |
BALANCE SHEET - continued |
30 JUNE 2022 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
3:16 TRUST LIMITED |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30 JUNE 2022 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Equipment | - |
Fixtures and fittings | - |
Tangible assets are originally recorded at cost. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
3:16 TRUST LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 JUNE 2022 |
2. | OTHER TRADING ACTIVITIES |
30.6.22 | 30.6.21 |
£ | £ |
Coffee shop income |
3. | SUPPORT COSTS |
Governance |
Finance | costs | Totals |
£ | £ | £ |
Charitable | 117 | 600 | 717 |
Support costs, included in the above, are as follows: |
30.6.22 | 30.6.21 |
Total |
Charitable | activities |
£ | £ |
Bank charges | 117 | 149 |
Accountancy and Independent Examination | 600 | 600 |
717 | 749 |
4. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
30.6.22 | 30.6.21 |
£ | £ |
Depreciation - owned assets |
5. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 30 June 2022 nor for the year ended 30 June 2021. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 30 June 2022 nor for the year ended 30 June 2021. |
3:16 TRUST LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 JUNE 2022 |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | fund | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Other |
Total |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward | 159,795 | - |
TOTAL FUNDS CARRIED FORWARD | 175,862 | - | 175,862 |
7. | CHARITABLE DONATIONS |
During the year the following donations were made to charities with similar charitable objectives: |
2022 | 2021 |
Sow to Reap | 1,000 | - |
Master Key Movement | 5,000 | - |
6,000 | - |
3:16 TRUST LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 JUNE 2022 |
8. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and |
property | Equipment | fittings | Totals |
£ | £ | £ | £ |
COST |
At 1 July 2021 |
Additions |
At 30 June 2022 |
DEPRECIATION |
Charge for year |
NET BOOK VALUE |
At 30 June 2022 |
At 30 June 2021 |
9. | STOCKS |
30.6.22 | 30.6.21 |
£ | £ |
Stocks |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.22 | 30.6.21 |
£ | £ |
Accrued expenses |
11. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.7.21 | in funds | 30.6.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 175,862 | 4,961 | 180,823 |
TOTAL FUNDS | 4,961 | 180,823 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 20,173 | (15,212 | ) | 4,961 |
TOTAL FUNDS | ( |
) | 4,961 |
3:16 TRUST LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 JUNE 2022 |
11. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.7.20 | in funds | 30.6.21 |
£ | £ | £ |
Unrestricted funds |
General fund | 159,795 | 16,067 | 175,862 |
TOTAL FUNDS | 159,795 | 16,067 | 175,862 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 20,318 | (4,251 | ) | 16,067 |
Restricted funds |
FODC Grant | 3,467 | (3,467 | ) | - |
TOTAL FUNDS | 23,785 | (7,718 | ) | 16,067 |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.7.20 | in funds | 30.6.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 159,795 | 21,028 | 180,823 |
TOTAL FUNDS | 159,795 | 21,028 | 180,823 |
3:16 TRUST LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 JUNE 2022 |
11. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 40,491 | (19,463 | ) | 21,028 |
Restricted funds |
FODC Grant | 3,467 | (3,467 | ) | - |
TOTAL FUNDS | 43,958 | (22,930 | ) | 21,028 |
12. | RELATED PARTY DISCLOSURES |