REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
Core Issues Trust |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
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 |
Registered Charity number |
Registered office |
Core Issues Trust (Registered number: NI606015) |
Report of the Trustees |
for the Year Ended 31 December 2023 |
Trustees |
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 |
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 |
Other trading activities | 2 |
Investment income | 3 |
Total |
EXPENDITURE ON |
Cost of generating voluntary income |
Cost of generating voluntary income | - | - | - | 718 |
Other trading activities | 89,337 | - | 89,337 | 170,211 |
Charitable activities |
Management & Governance expenses |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 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 |
Tangible assets | 9 |
CURRENT ASSETS |
Debtors | 10 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 11 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
12 |
( |
) |
( |
) |
( |
) |
NET ASSETS |
FUNDS | 14 |
Unrestricted funds: |
General fund | 23,992 | 32,713 |
TOTAL FUNDS | 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 |
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 | - |
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 |
Sale of merchandise CIT |
3. | INVESTMENT INCOME |
2023 | 2022 |
£ | £ |
Deposit account interest |
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 |
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 |
Other trading activities |
Investment income |
Total |
EXPENDITURE ON |
Cost of generating voluntary income |
Cost of generating voluntary income | 718 | - | 718 |
Other trading activities | 170,211 | - | 170,211 |
170,929 | - |
Charitable activities |
Management & Governance expenses |
77,265 | - |
Total |
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 |
RECONCILIATION OF FUNDS |
Total funds brought forward | 24,920 | - |
TOTAL FUNDS CARRIED FORWARD |
32,713 |
- |
32,713 |
8. | INTANGIBLE FIXED ASSETS |
Computer |
software |
£ |
COST |
Additions |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
9. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 January 2023 and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
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 |
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts (see note 13) |
IFTCC |
Accruals and deferred income |
12. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans (see note 13) |
13. | LOANS |
An analysis of the maturity of loans is given below: |
2023 | 2022 |
£ | £ |
Amounts falling due within one year on demand: |
Bank loans |
Amounts falling between one and two years: |
Bank loans - 1-2 years |
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 | (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 | ( |
) | (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. |