The trustees present their annual report and financial statements for the year ended 31 March 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 charity's 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).
The principle objectives of the charity are:
To advance the Christian faith by training, equipping, and empowering the local congregation to reach the surrounding communities;
To relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby;
To promote and fulfil such other charitable purposes beneficial to the community in County Antrim and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit.
The charity was incorporated on 15 December 2021 and, since 20 June 2022, it reflects the income and expenditure relating to Jordanstown Christian Centre in Newtownabbey. Previously, the centre was incorporated within a separate charity, Christian Communications Network (Europe) Limited. Since 20 June 2022, the charity pays rent to Christian Communications Network (Europe) Limited for the use of their premises.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
During the year the charity continued to hold Sunday morning worship services delivered live on Social Media. Midweek evening prayer / bible studies continued as well as community leaflet drops to advertise services to the community.
The charity's financial results are set out in detail on pages 5-12. The income of the charity is mainly from gifts and donations. The results for the year show net income of £3,736 (2023 - £1,426). The charity has no restricted funds.
At 31 March 2024 the total funds of the charity amounted to £5,162 (2023 - £1,426) which entirely represents unrestricted funds.
The trustees consider that the charity should maintain free reserves at a level which is sufficient to cover overheads and administrative costs for a period 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. At 31 March 2024 the charity had free reserves of £3,514. This equates to approximately 10 weeks of expenditure which is under the target level.. However, the charity's overheads and financial commitments are relatively low and the level of free reserves currently held is appropriate for the charity's circumstances. The trustees will continue to monitor this position going forward.
The charity was established under a Memorandum of Association which established the objects and powers of the company and is governed under its Articles of Association. Jordanstown Christian Centre Ltd is a charitable company limited by guarantee and does not have a share capital. The charity is managed on a day-to-day basis by Mr R McCreanor, trustee. The Board of Trustees is responsible for recruiting and appointing new trustees. New trustees are briefed on their responsibilities when appointed and all necessary training is provided. The trustees have assessed the major risks to which the charity is exposed and have established systems and procedures to manage those risks accordingly.
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:
The Trustees' report was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of Jordanstown Christian Centre Ltd (the charity) for the year ended 31 March 2024.
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 Companies Act 2006 (the 2006 Act).
Having satisfied myself that the charity is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to:
examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008;
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
state whether particular matters have come to my attention.
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
the financial statements do not accord with those records; or
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
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting 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).
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Jordanstown Christian Centre Ltd is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 468 Shore Road, Whiteabbey, Co Antrim, BT37 0AB.
The company was incorporated on 15 December 2021 and the comparative figures cover the period 15 December 2021 to 31 March 2023.
The financial statements have been prepared in accordance with the charity's Articles of Association, 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 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.
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.
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 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.
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 the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
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.
Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Charitable activities and Governance costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
All expenditure is inclusive of irrecoverable VAT.
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:
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.
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
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.
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, 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.
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.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
Unrestricted funds
Unrestricted funds
Wages
Rent
Insurance
Gifts
Subscriptions
Advisory
Events
Maintenance
Printing & stationery
Sundry expenses
Bank charges
Legal & professional
Accountancy
One of the trustees received remuneration of £6,250 (2023 - £7,692) from the charity during the year. No remuneration was paid in respect of services as trustee.
One of the trustees' made donations of £1,355 (2023 - £1,355) to the charity during the period.
The average monthly number of employees during the year was:
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
There were no disclosable related party transactions during the year.