The Trustees' present their annual report and financial statements for the year ended 31 December 2025.

Core Issues Trust (CIT) has continued to operate as a charitable company registered in Northern Ireland: Company number 606015 & Charity Number 105095. It has been registered as a company since 2011 and a charity since 2016.

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, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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)".

Core Issues Trust’s charitable objectives are the advancement of education and the advancement of the Christian Faith, for the public benefit.

When planning the Trust’s activities, the Directors/Trustees have considered and taken account of the CCNI’s guidance on Public Benefit (PBR1).

The following specific objectives were set for 2025, with achievement reported below.

The International Federation for Therapeutic and Counselling Choice (IFTCC) is an independent legal entity (a company registered in England), which presents its own accounts and reports. CIT has operated collaboratively with IFTCC since its inception, recognising that its objectives are complementary with the charitable objects and objects of association of CIT. CIT has also provided IFTCC with significant practical and financial support.

The IFTCC Board has been exploring the possibility merging its activities with CIT, so that the activities of IFTCC will continue, supporting the delivery of CIT’s charitable objective to advance education, for the public benefit. The CIT Board has agreed to this, which will continue its long-standing support on a sounder basis. The IFTCC Board intends to cease trading at the end of 2025, to transfer its intangible assets to CIT during 2026 and then to de-register as a company before the end of 2026.

In addition to running costs and expenditure on charitable activities, the charity made a grant of £3,513 to IFTCC to support its educational programme.

In the current financial year there was a deficit of £31,363. In the previous year there was a surplus of £19,044.

At the end of the financial year the total balance in reserves was £11,673.

The charity's policy is to maintain a reserve sufficient to cover at least two months running costs. Noting that the cash available at 31 December 2025 fell short of this, the trustees have taken steps in 2026 to strengthen the cash position.

Going forward into 2026, it is intended to manage the delivery of CIT’s charitable objects through the following four output programmes:

1. Delivery of the IFTCC annual conference and related events, generating educative material for the certificate programme.

2. Development of the IFTCC curriculum and certificate programme (a rigorous online training programme) and launching it, in preparation for opening registration to IFTCC professional membership.

3. Delivery of advocacy and testimony, including through X-Out-Loud.

4. Progressing support to church leaders in Africa.

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.

The company (charity) is entitled to the audit exemption under section 477 of the Companies Act 2006 for the year ended 31 December 2025. The trustees acknowledge their responsibility for ensuring that the company complies with the requirements of the Companies Act 2006 regarding accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year, as permitted under section 476 of the Companies Act 2006. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 Directors are selected and appointed by the Board, having regard to the skills, knowledge and experience needed for the effective administration of the Trust. During the year the Board was strengthened by the appointment of Mr Tony Rucinski as a Director.

The Board met formally three times during the year, with one of those meetings being the AGM. Among other matters, the Board reviewed financial controls and the financial position, fund-raising and safeguarding.

The trustees are responsible for the management of significant risks faced by the charity (where risk is any event or action that may adversely affect its ability to achieve its charitable objectives or implement its vision).

Risks are documented in a risk register which is reviewed by the board annually, assessing and prioritising the risks and, for major risks, developing and implementing an action plan.

Risks are identified and managed in the following seven areas of the charity’s activities:

1. Strategic and leadership

2. Employment

3. Legal and governance

4. Communication and publicity

5. Financial

6. Insurance

7. Counselling and pastoral, including safeguarding

8. Data protection.

The trustees are satisfied that this review, with the implementation of the associated action plans is robust and allows the charity to continue its work effectively.

The Trustees' report was approved by the Board of Trustees'.

I report on the financial statements of the charity for the year ended 31 December 2025, which are set out on pages 5 to 15.

As the charity Trustees' (and also the directors of the company 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.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, it is my responsibility to:

• examine the financial statements under section 65 of the Charities Act (Northern Ireland) 2008;

• follow the procedures laid down in the general Directions given by the Commission under section 65(9)(b) of the Charities Act (Northern Ireland) 2008; and

• state whether particular matters have come to my attention.

I have examined your charity financial statements as required under section 65 of the Charities Act (Northern Ireland) 2008 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 financial statements presented with those records. It also included consideration of any unusual items or disclosures in the financial statements, 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 that:

• 1. Accounting records were not kept in accordance with section 386 of the Companies Act 2006; or

• 2. The financial statements do not accord with those accounting records; or

• 3. The financial statements 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 financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102); or

• 4. There is further information needed for a proper understanding of the financial statements to be reached.

I have completed my examination and I 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.

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditures derive from continuing activities.

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Core Issues Trust is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 7 Lisburn Street, Royal Hillsborough, Co Down, BT26 6AB, UK.

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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)". 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.

Specific projects that are recognised as part of the charity's core activities, whilst carefully monitored, are treated as part of unrestricted fund activities.

Restricted funds are subject to specific conditions by donors or grantors 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.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

At present, the charity has only unrestricted funds.

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.

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

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 and intangible 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.

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.

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.

Specialist consultancy fees were paid to Dr Michael Davidson during the year, in his professional capacity. Dr Michael Davidson is a trustee of the charity and did not participate in any decision-making process regarding the agreement or payment for these services. The services were provided under a formal agreement, approved by the non-conflicted trustees in accordance with the charity’s governing document and conflict of interest policy.

The total amount paid to Dr Michael Davidson during the year was £4,800, which is included within consultancy fees in the Statement of Financial Activities.

The trustees are satisfied that this arrangement was in the best interests of the charity, represented value for money, and that appropriate steps were taken to manage the conflict of interest.

None of the Trustees, nor anyone connected with them, received remuneration for the Trustee function. Occasional, low value, reimbursements are made to trustees for expenses incurred by them on the charity's behalf.

The average monthly number of employees during the year was:

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

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.

The charity has a related party relationship with The International Federation for Therapeutic and Counselling Choice (IFTCC) a project company established to deliver specific charitable projects aligned with the charity’s objectives.

At the year end, the balance due from IFTCC was £0 (2024: £5,987).

During the year, the charity provided a grant of £3,513 to IFTCC to support the delivery of charitable activities. This grant was made in accordance with the charity’s objectives and approved by the trustees. No other transactions occurred between the entities.

All transactions were conducted at arm’s length, and the trustees are satisfied that the arrangement was in the best interests of the charity.