The Cornhill Belfast Trust - Charities report - 20.2

REGISTERED COMPANY NUMBER: NI072275 (Northern Ireland)

REGISTERED CHARITY NUMBER: 103462

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 March 2020

for

The Cornhill Belfast Trust

(A Company Limited by Guarantee)

Page

Report of the Trustees

1

to

2

Independent Examiner's Report

3

Statement of Financial Activities

4

Balance Sheet

5

to

6

Notes to the Financial Statements

7

to

12

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 March 2020. 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 Cornhill Belfast Trust helps with the advancement of the Christian faith and the advancement of education by teaching key principles of biblical teaching.

These objectives will be met through the running of the Cornhill Training Course.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The charity has provided training and support using the Cornhill Training Course by instructing students in the principles and practice of expository preaching and this will continue in the future.

FINANCIAL REVIEW

Financial position

During the current financial year the charity had a surplus of £55 and (£3,438 - 2019)

FUTURE PLANS

The charity will provide training to students in the principles and practice of expository preaching.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Cornhill Belfast Trust is a company limited by guarantee and is registered as a charity. The registered office is in Northern Ireland.

Organisational structure

The members are responsible for making joint decisions regarding the company, the Reverend Moore Casement is responsible for the day to day management of the charity.

The members are required to follow the policies and procedures laid down in the Memorandum and Articles of Association.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

NI072275 (Northern Ireland)

Registered Charity number

103462

Registered office

66 Kings Road

Belfast

Antrim

BT5 6JL

Trustees

Rev D Luke

AS Adair (resigned 3/4/2019)

TWD Johnston

AGW Davis

Independent Examiner

ASC Wylie UBU Ltd

Chartered Accountants

7 Lisburn Street

Hillsborough

Down

BT26 6AB

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 9 December 2020 and signed on its behalf by:

Rev D Luke - Trustee

I report on the accounts for the year ended 31 March 2020 set out on pages four to twelve.

Basis of the independent examiner's report

My examination was carried out in accordance with An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently

Independent examiner's statement

In connection with my examination, no matter has come to my attention :

(1)	which gives me reasonable cause to believe that, in any material respect, the requirements

-	to keep accounting records in accordance with Section of the 2005 Act; and

-	to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2005 Act

have not been met; or

(2)	to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

ASC Wylie UBU Ltd

Chartered Accountants

7 Lisburn Street

Hillsborough

Down

BT26 6AB

Date: .............................................

2020

2019

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

9,709

16,952

Other trading activities

3

48,035

40,458

Investment income

4

313

401

Total

58,057

57,811

EXPENDITURE ON

Charitable activities

Support costs

41,682

40,117

Management & governance

1,377

1,558

Charitable activities

14,943

12,697

Total

58,002

54,372

NET INCOME

55

3,439

RECONCILIATION OF FUNDS

Total funds brought forward

94,677

91,238

TOTAL FUNDS CARRIED FORWARD

94,732

94,677

2020

2019

Unrestricted

Total

fund

funds

Notes

£

£

FIXED ASSETS

Tangible assets

9

35

44

CURRENT ASSETS

Debtors

10

3,463

3,475

Cash at bank

95,018

94,396

98,481

97,871

CREDITORS

Amounts falling due within one year

11

(3,784

)

(3,238

)

NET CURRENT ASSETS

94,697

94,633

TOTAL ASSETS LESS CURRENT LIABILITIES

94,732

94,677

NET ASSETS

94,732

94,677

FUNDS

12

Unrestricted funds

94,732

94,677

TOTAL FUNDS

94,732

94,677

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

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 9 December 2020 and were signed on its behalf by:

D Luke - Trustee

1.	LIMITED BY GUARANTEE

The Cornhill Belfast Trust is a company limited by guarantee and accordingly does not have a share capital. Each member of the Trust has undertaken to contribute to the assets of the Trust in the event of its being wound up while he is a member, or within one year afterwards, for payment of the debts and liabilities of the Trust contracted before he ceased to be a member, and the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributors among themselves, such as may be required, not exceeding ten pounds (£10.00).

2.	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.

Tangible fixed assets

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

Taxation

The charity is exempt from corporation tax on its charitable activities.

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.

3.	OTHER TRADING ACTIVITIES

2020

2019

£

£

Booking fees

45,955

39,460

Summer School & evening class

2,080

998

48,035

40,458

4.	INVESTMENT INCOME

2020

2019

£

£

Deposit account interest

280

369

Interest receivable - trading

33

32

313

401

5.	NET INCOME/(EXPENDITURE)

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

2020

2019

£

£

Depreciation - owned assets

9

10

6.	TRUSTEES' REMUNERATION AND BENEFITS

During the current year Trustee remuneration was £22,479 and (£21,430 - 2018).

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2020 nor for the year ended 31 March 2019.

7.	STAFF COSTS

During the current financial year the average number of employees was 1 (2019 - 1)

The average monthly number of employees during the year was as follows:

2020

2019

Administration

1

1

No employees received emoluments in excess of £60,000.

8.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

fund

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

16,952

Other trading activities

40,458

Investment income

401

Total

57,811

EXPENDITURE ON

Charitable activities

Support costs

40,117

Management & governance

1,558

Charitable activities

12,697

Total

54,372

NET INCOME

3,439

RECONCILIATION OF FUNDS

Total funds brought forward

91,238

TOTAL FUNDS CARRIED FORWARD

94,677

9.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2019 and 31 March 2020

451

DEPRECIATION

At 1 April 2019

407

Charge for year

9

At 31 March 2020

416

NET BOOK VALUE

At 31 March 2020

35

At 31 March 2019

44

10.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

3,463

3,475

11.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Accruals and deferred income

3,784

3,238

12.	MOVEMENT IN FUNDS

Net

movement

At

At 1/4/19

in funds

31/3/20

£

£

£

Unrestricted funds

General fund

94,677

55

94,732

TOTAL FUNDS

94,677

55

94,732

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

58,057

(58,002

)

55

TOTAL FUNDS

58,057

(58,002

)

55

Comparatives for movement in funds

Net

movement

At

At 1/4/18

in funds

31/3/19

£

£

£

Unrestricted funds

General fund

91,238

3,439

94,677

TOTAL FUNDS

91,238

3,439

94,677

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

57,811

(54,372

)

3,439

TOTAL FUNDS

57,811

(54,372

)

3,439

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

Net

movement

At

At 1/4/18

in funds

31/3/20

£

£

£

Unrestricted funds

General fund

91,238

3,494

94,732

TOTAL FUNDS

91,238

3,494

94,732

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

115,868

(112,374

)

3,494

TOTAL FUNDS

115,868

(112,374

)

3,494

13.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2020.