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REGISTERED COMPANY NUMBER: NI606015 (Northern Ireland)
REGISTERED CHARITY NUMBER: 105095














Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2023

for

Core Issues Trust

Core Issues Trust






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Report of the Trustees 1 to 4

Independent Examiner's Report 5

Statement of Financial Activities 6

Balance Sheet 7 to 8

Notes to the Financial Statements 9 to 15

Core Issues Trust (Registered number: NI606015)

Report of the Trustees
for the Year Ended 31 December 2023


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 31 December 2023. 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
The purposes of the Core Issues Trust are the advancement of education and the advancement of the Christian Faith, particularly in the context of enabling support to members of the public who request help in in their desire to leave LGBT identities, behaviours, attractions and life-choices. The Trust is inspired by Judeo-Christian values and champions education based on evidence-led enquiry science, as reported in peer-reviewed scientific journals.
Core Issues Trust fulfils these purposes, delivering public benefit, principally through three distinct projects:

1. The International Federation for Therapeutic Choice in Counselling (IFTCC);
2. X-Out Loud;
3. Africa Project.

The IFTCC, serviced by Core Issues Trust, has its own legal personality and governance as a Company Limited by Guarantee, registered in England and Wales. While legally independent, it continues to work with, and receives some financial support from Core Issues Trust. Core Issues Trust delivers some of its educational programme through working collaboratively with the IFTCC. The IFTCC presents its accounts and director's report separately.


Core Issues Trust (Registered number: NI606015)

Report of the Trustees
for the Year Ended 31 December 2023

ACHIEVEMENT AND PERFORMANCE
Charitable activities
In planning and reviewing the activities of the charity, the trustees have had regard to the CCNI's Public Benefit reporting statutory guidance. The charity has delivered public benefit including through the following activities:

GAFCON IV. A highlight was attendance, jointly with IFTCC, as a Gold Partner, at the fourth Global Anglican Future Conference (GAFCON IV) at Kigali, in April 2023. Over 1,000 delegates were present from 52 nations worldwide, representing at least 85% of the membership of the Anglican Communion of Churches. The 2023 Kigali Commitment was signed which, among many things, aims to stop the progression of progressive LGBT practices from entering and being approved by the church, consistent with the 1998 Lambeth Conference resolutions which declared that "homosexual practice is inconsistent with Scripture". With a large stall, many new relationships were made, and literature was distributed. Unlike media portrayals, those opposing the promotion of homosexual and transgender practices are not homophobic or transphobic, but welcomed support in their desire to help people to get support in addressing unwanted same-sex attraction or gender incongruity.

Africa Project. At GAFCON IV, delegates from many African nations strongly welcomed the Trust's resources, with requests from some French-speaking nations that they be translated into French. It was clear that church leaders in several nations are asking for appropriate help in appropriately and lovingly caring for those in their community with unwanted same-sex attraction or gender issues. Further discussions have been held with some African church leaders: some were invited to the IFTCC conference, but were unable to obtain visas. While the need is there, this project is not yet funded.

X-Out-Loud. X-Out-Loud is an international community of those who have voluntarily left LGBT identities, lifestyles and behaviours, having chosen to follow Jesus Christ, and who want to help others. Highlights of 2023 include:

1. Publication of a second book, "How I feel in my Church after I left LGBT", sharing the experience of those who have found their true selves in safe churches.
2. Responding to an invitation to share experience at a series of events with with churches and Christian organisations, including a Youth Rally (organised by 'Watch out my Children' and the 'Praise Academy of Dance') in Barbados in August 2023. The work of Core Issues Trust and X-Out-Loud was welcomed and valued, with relationships deepened.
3. Meeting delegates at the Church of England synod in November 2023, sharing experience of spiritual awakening, of freedom from unwanted same-sex attraction and of acceptance of gender.

Church Engagement. Representatives of the charity have met with a number of churches and attended church-related events over the course of the year, educating churches in the needs of those with unwanted same-sex attraction or gender incongruence, and encouraging them in helping this community.

IFTCC. While the IFTCC is an independent body, it receives significant practical support from Core Issues Trust. Core Issues Trust delivers public benefit through IFTCC's educational programmes, IFTCC learning and the annual conference. During 2023 IFTCC has achieved greater independence, with separate financial reporting. In particular support has been given to IFTCC's application to the Charity Commission for England and Wales for registration as a Charitable Incorporated Organisation (CIO) (which will replace its current status as a CLG); and to its application for registration with the Professional Standards Authority (PSA).


Core Issues Trust (Registered number: NI606015)

Report of the Trustees
for the Year Ended 31 December 2023

FINANCIAL REVIEW
Financial position
During the financial year, the charity receive income of £152,867. Exceptionally this included compensation of £21,500 from Barclays Bank, acknowledging that they had been wrong to close the charity's bank account in 2020.

In addition to running costs and expenditure on charitable activities, the charity made a grant of £2,000 to IFTCC to support its educational programme.

In the current financial year there was a deficit of £8,721. In the previous year a surplus £7,793.

At the end of the financial year the total balance in reserves was £23,992.
The charity's policy is to maintain a reserve sufficient to cover at least two months running costs.

FUTURE PLANS
With respect of trusteeship, the Trust is widening its leadership base, recognising the advantage of contributions form additional skill-sets. Closer attention is being given to co-ordination and management of operations. Progress is being made by the IFTCC towards professional development with respect to training curricula, and work will continue in this direction. The establishment of structures to facilitate this have been successfully completed, internally. Work to further consolidate the IFTCC Standards of Care for Clinical Practitioners, Pastoral Care Workers and a suitable approach to understanding Transgender Treatments, needs to be further developed. Work to establish an international professional register for practitioners, continues. X-Out-Loud continues to attract Christian persons willing to support individuals unable to access support consistent with their values. An additional proposed project-stream is being considered which will enable the Trust to reach into new world areas seeking help and encouragement in our field. Both X-Out-Loud and the IFTCC are committed to engaging with public and media bodies who seek to understand alternative perspectives of the phenomena of so-called sexual 'orientation' and gender confusion.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Organisational structure
The Company is controlled by the Board of Directors who are actively involved in the day to day management of the company's activities.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
NI606015 (Northern Ireland)

Registered Charity number
105095

Registered office
102 Kinedale Park
Ballynahinch
Down
BT24 8YS


Core Issues Trust (Registered number: NI606015)

Report of the Trustees
for the Year Ended 31 December 2023

Trustees
Dr M R Davidson
D B OCallaghan
M Grech
Rev SAG Wyatt

Independent Examiner
ASC Wylie UBU Ltd
Qualified Accountants, Tax & Business Advisors
7 Lisburn Street
Royal Hillsborough
Co. Down
BT26 6AB

Approved by order of the board of trustees on 23 August 2024 and signed on its behalf by:





Dr M R Davidson - Trustee

Independent Examiner's Report to the Trustees of
Core Issues Trust
I report on the accounts of the company for the year ended 31 December 2023, which are set out on pages six to fifteen.

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 independent 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.








Mr ASC Wylie FCA

ASC Wylie UBU Ltd
Qualified Accountants, Tax & Business Advisors
7 Lisburn Street
Royal Hillsborough
Co. Down
BT26 6AB

23 August 2024

Core Issues Trust

Statement of Financial Activities
(Incorporating an Income and Expenditure Account)
for the Year Ended 31 December 2023

2023 2022
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations including Gift Aid 152,867 - 152,867 162,704

Other trading activities 2 28,646 - 28,646 98,353
Investment income 3 82 - 82 35
Total 181,595 - 181,595 261,092

EXPENDITURE ON
Cost of generating voluntary income
Cost of generating voluntary income - - - 718
Other trading activities 89,337 - 89,337 170,211
89,337 - 89,337 170,929

Charitable activities
charitiable expense 2,000 - 2,000 2,065
Management & Governance expenses



-


-


-


3,040
Support costs 98,979 - 98,979 77,265
Total 190,316 - 190,316 253,299

NET INCOME/(EXPENDITURE) (8,721 ) - (8,721 ) 7,793


RECONCILIATION OF FUNDS
Total funds brought forward 32,713 - 32,713 24,920

TOTAL FUNDS CARRIED FORWARD 23,992 - 23,992 32,713

Core Issues Trust (Registered number: NI606015)

Balance Sheet
31 December 2023

2023 2022
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 8 6,400 - 6,400 -
Tangible assets 9 12,159 - 12,159 12,159
18,559 - 18,559 12,159

CURRENT ASSETS
Debtors 10 8,155 - 8,155 11,417
Cash at bank 1,730 - 1,730 17,350
9,885 - 9,885 28,767

CREDITORS
Amounts falling due within one year 11 (2,575 ) - (2,575 ) (6,910 )

NET CURRENT ASSETS 7,310 - 7,310 21,857

TOTAL ASSETS LESS CURRENT
LIABILITIES

25,869

-

25,869

34,016

CREDITORS
Amounts falling due after more than one
year

12

(1,877

)

-

(1,877

)

(1,303

)

NET ASSETS 23,992 - 23,992 32,713
FUNDS 14
Unrestricted funds:
General fund 23,992 32,713
TOTAL FUNDS 23,992 32,713

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.



Core Issues Trust (Registered number: NI606015)

Balance Sheet - continued
31 December 2023

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.

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 23 August 2024 and were signed on its behalf by:





M R Davidson - Trustee





SAG Wyatt - Trustee

Core Issues Trust

Notes to the Financial Statements
for the Year Ended 31 December 2023

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.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Computer equipment - 20% on reducing balance

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.


Core Issues Trust

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. OTHER TRADING ACTIVITIES
2023 2022
£    £   
Conference & events 24,913 89,968
Sale of merchandise CIT 3,733 8,385
28,646 98,353

3. INVESTMENT INCOME
2023 2022
£    £   
Deposit account interest 82 35

4. SUPPORT COSTS
Information
Management Finance technology
£    £    £   
Support costs 89,614 2,216 688
Governance
Other costs Totals
£    £    £   
Support costs 100 6,361 98,979

Support costs, included in the above, are as follows:
2023 2022
Support Total
costs activities
£    £   
Consultancy 80,401 42,850
Insurance 335 193
Telephone 1,296 5,523
Post, stationary & office 6,876 8,264
General expenses 706 838
Depreciation of tangible and heritage
assets

-

3,040

Bank charges 2,216 -
Repairs and renewals 688 -
Interest payable and sim chs 100 -
Accountancy 1,608 14,420
Legal, prof and consultancy 4,753 5,177
98,979 80,305


Core Issues Trust

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2023 2022
£    £   
Accountancy 1,608 14,420
Depreciation - owned assets - 3,040

6. TRUSTEES' REMUNERATION AND BENEFITS

One Trustee serving as CEO has received a monthly payment since 2015 of £400 for professional services. Where any personal expenses were paid by the Trust any subsequent reimbursements made, the accounts reflect this.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.


7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund fund funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations including Gift Aid 162,704 - 162,704

Other trading activities 98,353 - 98,353
Investment income 35 - 35
Total 261,092 - 261,092

EXPENDITURE ON
Cost of generating voluntary income
Cost of generating voluntary income 718 - 718
Other trading activities 170,211 - 170,211
170,929 - 170,929

Charitable activities
charitiable expense 2,065 - 2,065
Management & Governance expenses



3,040


-


3,040
Support costs 77,265 - 77,265
Total 253,299 - 253,299


Core Issues Trust

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
fund fund funds
£    £    £   
NET INCOME 7,793 - 7,793


RECONCILIATION OF FUNDS
Total funds brought forward 24,920 - 24,920

TOTAL FUNDS CARRIED
FORWARD

32,713

-

32,713

8. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
Additions 6,400
NET BOOK VALUE
At 31 December 2023 6,400
At 31 December 2022 -

9. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023 and
31 December 2023

25,074

DEPRECIATION
At 1 January 2023 and
31 December 2023

12,915

NET BOOK VALUE
At 31 December 2023 12,159
At 31 December 2022 12,159


Core Issues Trust

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 8,155 11,417

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 13) 800 2,173
IFTCC 169 884
Accruals and deferred income 1,606 3,853
2,575 6,910

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 13) 1,877 1,303

13. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year on demand:
Bank loans 800 2,173
Amounts falling between one and two years:
Bank loans - 1-2 years 1,877 1,303

14. MOVEMENT IN FUNDS
Net
movement At
At 1/1/23 in funds 31/12/23
£    £    £   
Unrestricted funds
General fund 32,713 (8,721 ) 23,992

TOTAL FUNDS 32,713 (8,721 ) 23,992

Core Issues Trust

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

14. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 181,595 (190,316 ) (8,721 )

TOTAL FUNDS 181,595 (190,316 ) (8,721 )


Comparatives for movement in funds

Net
movement At
At 1/1/22 in funds 31/12/22
£    £    £   
Unrestricted funds
General fund 24,920 7,793 32,713

TOTAL FUNDS 24,920 7,793 32,713

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 261,092 (253,299 ) 7,793

TOTAL FUNDS 261,092 (253,299 ) 7,793

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1/1/22 in funds 31/12/23
£    £    £   
Unrestricted funds
General fund 24,920 (928 ) 23,992

TOTAL FUNDS 24,920 (928 ) 23,992

Core Issues Trust

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

14. 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 442,687 (443,615 ) (928 )

TOTAL FUNDS 442,687 (443,615 ) (928 )

15. RELATED PARTY DISCLOSURES

During the financial year the transactions with related parties the balance owing to the Charity was £8,155.