The trustees present their annual report and financial statements for the year ended 31 December 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 governing document, 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 principal activity of the company continued to be the provision of church facilities to members of the local community.
Causeway Coast Vineyard is a vibrant missional community in Northern Ireland. Our vision is to change the community one life at a time and to do so within our lifetime while ensuring that the work continues for generations beyond. We do not simply want to have a great church; we want to have a great city. We are a community who carry hope and are passionately pursuing God’s heart for His city through our ordinary everyday lives.
The principal activity of Causeway Coast Vineyard is to be a church for everyone in our local community.
Causeway Coast Vineyard is growing a healthy, missional, supernatural and compassionate church community pursuing God's heart for the Causeway Coast area. Our passion is to be:
Missional - where lives are changed as people encounter Jesus
Supernatural - where each person is living their everyday lives empowered by the Holy Spirit
Compassionate - where our community is transformed with hope-filled generosity
Healthy - with a church culture forming disciples who extend God's Kingdom
CCV is a vibrant, pioneering, missional community in the north coast of Northern Ireland with around 700 people attending Sunday services. We have a significant compassion ministry and a staff team (including Compassion) of approximately 40 people.
We are a church where lives are changing. A place where people are saying “Yes” to God and experiencing life in a fresh way. We are people who seek to bring life to every area of our community. A place where we see transformation happen as we pursue the dreams that God has placed in our hearts. We believe we were made to connect with our community. Regardless of our interests or life stage, we have something for everyone, and it is our desire that Causeway Coast Vineyard helps people on their journey towards greater connection within the community.
Our desire is to see our community continue to flourish and we are seeking to be involved in that through many ways.
We are part of the Vineyard movement and members of the Evangelical Alliance.
In 2010 we bought a seven-acre site (part of an old timber yard) in the centre of Coleraine and in October 2012 moved into a purpose built 33,000 square foot church venue. We worship together on a Sunday through morning and evening services either on a Sunday night or Wednesday worship with around 700 people of all ages gathering on average each month as of November/December 2024.
Of course, what happens through Sunday and other weekly services is only a small part of how we seek to impact our community.
We have continued to be involved in local schools and in 2024 had one staff member dedicated to this work supported by a team of loyal volunteers and other staff. Our goal is to partner with local schools to aid them in the work they do with the young people in our community. in 2024 we have also been running school assemblies, lunch clubs, homework clubs, Alpha events and courses helping pupils prepare for secondary education.
We regularly pray for and see healing and much of this happens on our streets on a Saturday morning, which we have been doing since 2005.
Our volunteers have really stepped in to serve our local community who have experienced real need in this season especially with the rising cost of living. We are delighted to see people give of their time to serve people with love and dignity.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. New trustees will receive appropriate induction and relevant training.
We have a risk management assurance framework in operation. This covers areas such as safeguarding processes for children and vulnerable adults, staff training and development, health and safety for staff and public around the site as well as HR, IT and financial risks (covered by our reserves policy). Two of our board members sit on a risk management sub-committee alongside the Operations Director. Risks are raised, discussed and measures put in place to mitigate the risk. Risk is a standing agenda item on our board meetings and the risk management assurance framework is reviewed formally at the board meeting every six months.
We are passionate about being a missional, supernatural, compassionate and healthy church community pursuing God’s heart for our community
In January 2024 we moved to having one morning service at 10.30am. During the calendar year Jan – Dec 24 our adult attendances saw a decrease of 26% however we’ve also been continuing to broadcast our services so those who are unable to make it along can still be a part of the church. Many newcomers to our in-person services will have tuned in online first.
Our Easter services on Good Friday, Easter Sunday morning and our Easter Sunday baptisms were incredible times where we had 8 people getting baptised and we saw around 1,350 people connect in our 3 weekend services. On Easter Monday over 350 gathered at Downhill Forest for our annual Easter Egg hunt. We’ve continued to work with local schools and hosted a BBQ at Harpurs Hill School fete connecting and feeding around 400 people and in addition to this hosted an A-level’s BBQ in June
Our Under 18 ministries have gone from strength to strength as well. We have Sunday environments, mid-week groups, mums and toddlers care, and other community-based projects. We are currently reaching anywhere between 200 - 300 under 18s monthly within our gathered environments in the building and others that we can’t quantify outside of this within the community.
Over these last number of months, we've seen growth and health in the lives of our young people seeing many of them bringing friends along to church, stepping into leadership and service in various forms on Sunday evening with youth and mornings with our wider church family. It has been amazing to see them step out in worship, welcome, hospitality, hosting the service and some even speaking.
We have been so encouraged as some of our young people have started Bible studies in their schools independent of their existing school structures and without the support of teachers. We have seen two start up in in two different schools seeing between 20 - 30 young people connect in each one.
Our summer trips have been more popular than ever with a group of 30 young people attending Summer Madness – with 6 boys encountering Jesus for the first time or making a recommitment. We also had a group of 31 young people head to a Christian festival called ‘Move’ this summer.
In our Kids environments we’ve been going through the Bible in a year with Nicky Gumbel and it has also been a busy year for us in schools as most months we connect with over 2000 kids, young people and adult staff, through assemblies, lessons and after-school clubs. We have been really encouraged by positive feedback from several school staff about the impact of some of the Jesus-focused messages we were able to deliver.
At the beginning of June, we welcomed 20 teams of Primary Schools from all over the Causeway area to our church venue. Battle of the Brains had been a big quiz that we hadn’t put on since before lock-down.
We have taken a pause from running our ESOM programme and will revisit our discipleship and internships in 2025.
We’ve run a variety of connection events in the year with a wonderful volunteer appreciation night in January where we had a lot of fun and a Tiki Bar theme.
In June for volunteer week we honoured our amazing volunteers with cupcakes on a Sunday (350 in all) and during the week all our weekly volunteers got cupcakes as well with an additional 150 being ordered for our satellite volunteers as well.
At Causeway Coast Vineyard our small groups are very important and we run these groups of up to 20 people who meet weekly to connect with God and one another. These groups are open to the whole community. They are places to connect, make new friends, deepen relationships, encounter God’s love and have the occasional party. We have discovered that big moments in life often happen in the small corners of life. There are a range of small groups:
core groups - including weekly connection over coffee and studying a bible passage or book
courses - including prayer groups and bible study
family central groups - including marriage, pre-marriage and singles groups
interest groups - including keep fit, sewing, table tennis, etc.
life stage groups – including groups for 20 somethings, women’s groups, etc.
During 2024 we ran 70 different groups over 3 terms which had over 375 unique people connecting and growing in their faith within them.
Throughout December in the run up to Christmas 2024 we ran a variety of events including Ladies Wreath Making, Family Movie and a Men’s Bonfire and our Generation Sunday.
We also had 610 people attend our service on Christmas eve, and 300 attend a Christmas candlelight service the previous Sunday which was a great success.
The results for the year are set out on page 11.
The company returned net incoming resources for the year of £62,441 (2023 incoming resources of £6,200). At 31 December 2024, the total funds of the charity amounted to £2,138,302 (2023: £2,075,861) comprising restricted funds of £5,258 (2023: £9,377) and unrestricted funds of £2,133,044 (2023: £2,066,484).
The charity transferred £2,000 to a designated fund for significant expenditure on the facilities. At 31 December 2024, the balance on this fund was £91,721 (2023: £89,721).
At 31 December 2024, the charity’s bank debt amounted to £714,846 (2023: £807,964). The trustees are confident that the bank debt will be repaid out of ongoing surplus incoming resources and as such will be able to meet its ongoing working capital requirements.
The principal risk faced by the charity continues to be the potential of receiving insufficient funds to continue its activities. The charity seeks to mitigate this risk in the following ways:
Unrestricted reserves are held which are sufficient to cover
The continuance of operations given a 25% reduction in unrestricted income, for a period of 3-6 months, together with
any specific liabilities which are outside of the normal scope of activities
Appropriate designated reserves are held for significant long-term expenditure
Based on the 2025 budget, the range of reserves considered by the trustees to be adequate (as calculated above) is between £73.68k - £147.36k.
Total general unrestricted reserves (comprising of cash and debtors, less short-term liabilities) was £28k (2023: £14k), however including the designated fund, which is not restricted, this figure would be £120k.
Causeway Coast Vineyard (CCV) is a church affiliated to the Association of Vineyard Churches in the UK & Ireland (VCUKI).
In 2024 we committed to implementing in full all recommendations from an independent report process in full and over the next season we will continue to work to fulfil our mission to say ‘yes’ to God, experience life and carry hope to the city.
In early 2024 we established a search team (made up of trustees, staff and people from the wider CCV church to begin the search for new Senior Pastor(s) and on Sunday 20th October 2024 we shared the news that we had appointed Laura Bell as our new Senior Pastor.
Laura is an incredible apostolic and pioneering leader with a huge amount of church experience. Her appointment came at the end of a rigorous search process which saw the search team, SLT, trustees and Vineyard leadership fully united.
We are so thankful for God for his faithfulness to us as a church and for answering our prayers for a new Senior Pastor. We have an incredible sense of unity that Laura is the person to lead us in our vision of being a healthy, missional, supernatural and compassionate church community pursuing God’s heart for the Causeway Coast area.
Causeway Coast Vineyard is a company limited by guarantee and was incorporated on 1 April 2008. The company was established under a Memorandum of Association which established the objectives and powers of the company and is governed by its Articles of Association. The liability of its members is limited in that every member of the company undertakes to contribute an amount not exceeding £1 in the event of the company being wound up.
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:
New directors are appointed when appropriate. Suitable candidates are considered on the basis of their skills, experience and sympathy with the aims of church. New directors will be agreed at a board meeting before being invited to join.
Trustees are responsible for setting the organisation’s payscales following the NICVA matrix and benchmark and ensuring that these are adhered to. Vineyard Compassion was birthed from Causeway Coast Vineyard church and has the same trustees.
Reference and administrative details
The day-to-day management of the charity is overseen by David McCracken (Operations Director) and Victoria Moore (Finance Manager).
The trustees, who are also the directors of Causeway Coast Vineyard Church for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In accordance with the company's articles, a resolution proposing that IDS Chartered Accountants LLP be reappointed as auditor of the company will be put at a General Meeting.
The trustees' report was approved by the Board of Trustees.
Opinion
We have audited the financial statements of Causeway Coast Vineyard Church (the ‘charity’) for the year ended 31 December 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2015 require us to report to you if, in our opinion:
the information given in the financial statements is inconsistent in any material respect with the trustees' report; or
sufficient accounting records have not been kept; or
the financial statements are not in agreement with the accounting records; or
we have not received all the information and explanations we require for our audit.
As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
We have been appointed as auditors under section 65 of the Charities Act (Northern Ireland) 2008 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities including fraud and non-compliance with laws and regulations, was as follows:
the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with laws & regulations;
we identified the laws and regulations applicable to the charity through discussions with trustees and other management, and from our commercial knowledge and experience of the sector;
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, antibribery, employment, environmental and health and safety legislation;
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence.
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and
performing analytical procedures to identify any unusual or unexpected relationships;
reviewing journal entries to identify unusual transactions;
assessing whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias;
investigating the rationale behind any significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
agreeing financial statements disclosures to underlying supporting documentation;
reading the minutes of meetings of those board of trustees;
enquiring of management as to actual and potential litigation and claims;
reviewing legal correspondence.
There are inherent limitations in our audit procedures described above. The more removed laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
IDS Chartered Accountants LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Causeway Coast Vineyard Church is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 10 Hillmans Way, Ballycastle Road, COLERAINE, Co Londonderry, BT52 2ED.
The financial statements have been prepared in accordance with the charity's memorandum, 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 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 general funds that are available for use at the trustees' discretion in furtherance of the objectives of the company.
Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.
Restricted funds are those donated for use in a particular area or for a specific purpose, the use of which is restricted to that area or purpose.
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
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.
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business.
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Only assets with a value of £500 or more are capitalised.
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).
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in income/(expenditure for the year, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately, unless the relevant asset is carried in at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
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.
No provision is required for taxation as the company is defined as a charity for taxation purposes.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
During the current financial year, no critical accounting estimates or judgements were made by the trustees.
Mr DP Wright was reimbursed £486 in travel expenses in relation to the trustee's meeting during the year (2023 - £1,555).
The average monthly number employees (excluding directors) during the year was:
The remuneration of key management personnel, who comprise the senior leadership team, is as follows.
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
The bank loans are secured as follows:
- Floating charge over 10 Hillmans Way, Coleraine.
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
Certain grants received and receivable may become repayable to the funder if the charity is no longer able to meet the conditions under which they were awarded. Due to the nature of these contingencies, it is not possible to quantify the potential effect or give an indication of timing to the liabilities that may arise.
During the year the charity entered into the following transactions with related parties:
Included within hospitality were amounts totalling £5,826 (2023 - £11,293) paid to Lynas Foodservice Limited, a company in which Mr Andrew Lynas is a director. The amount owing at the year-end and included in trade creditors was £368 (2023 - £545).
Included within room hire and other income were amounts totalling £4,675 (2023 - £2,350) received from Lynas Foodservice Limited, a company in which Mr Andrew Lynas is a director. There were no amounts outstanding at the year end.
Included within shared services were amounts totalling £26,000 (2023 - £35,900) received from Vineyard Compassion, a charity with the same directors. The amount owing at the year-end included in other debtors was £nil (2023 - £6,400).
Included within other creditors were amounts totalling £1,000 (2023 - £7,514) for Love Christmas Grant owed to Vineyard Compassion, a charity with the same directors.
Included within other debtors were amounts totalling £nil (2023 - £3,635) for pension contributions owed from Vineyard Compassion, a charity with the same directors.
Included within expenditure were amounts totalling £nil (2023 - £2,267) for Fuel poverty Offering to Vineyard Compassion, a charity with the same directors. There were no amounts outstanding at the year end.