IL,L C£fJ)W)Ln(DW_ o) o cho COW CLin CT ¥1 u£[ I<>￿ (L￿cLa>co £oJ rLn LU oi J d) > Euj (v (Oa CL 7J C C )C ￿￿- CJJ._3￿ OO£OLo m Lf) ￿ o Ln C41 o o In ¢£1 v a) m Ln ID o c 00- LnLW Custom House Baptist Church Notes to the Accounts For the Year Ended 31 March 2024 Accounting pollcles Basls of accounting The financial statements have been prepared under the historical cost convention, except for investments which are included al market value and the revaluation of ertain fixed assels and in accordance with the Charities SORP (FRS 1021 'Accounling 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 IFRS 1021 leffeclive 1 January 20151,, Financial Reporting Standard 102 the Financial Reporting S18ndard applicable in the UK and Republic of Ireland IFRS 102}, and the Cornpanies Act 2006. Custom House Baptist Church meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recogni2ed al historical cost or Iransactlon value unless othemise staled in the relevant accounting policy notels}. Incomln9 Resources: Bulldlng Fund Incomes from donallons for fund raising activities {EGHI are included In incoming resources of unrestricted funds on receipts Tlthes and off•rlng Income from tithes and offering are included in incomlng resources and accounted for as unrestricted fund Inv•stment Incom* Investment incomes consist of ng1 interest received during the year and accounted for as unrestricted fund. Resources expended All expenditure Is accounted for on and accruals basis and is indusiv8 of VAT. Charilable expenditure comprises those costs incurred by the charity in the delivery of Ils activities and services for ils beneficiaries. 11 includes bolh costs that can be allocated directly lo such activitie5 and those costs ol an Indirect nature necessary lo support them. Governance cosls include those costs associated wlh meeting the conslilutional and statutory requirements of the charity and includes accountancy fees and costs linked to the strategic management Df the charity. Governance costs which cannot be allocated directly are apportioned on an appropriate bas15. Fixed assets Fixed assets are stated at cost less accumulaled depreciation. Depreciation is provided at the rates calculaled lo write off the cost of each asset less ils estimated useful life as follows.. Improvement to Building- 2./0 Slraighl Line 12 7JTS W Ln ￿ ID o In r co N co N ajo J Ln ro o (N m Ln fD r tr-- r Q) Tr-- rfj ¢£1 <£J M Ln C (Q +XJ Thi o) Ln o) CO- Ln fQ O N (r) Ln ty- (O- (Q CN * CD CD O ¢D 0£ > LU tl L) > c£ Ci I C£ i) U Q co ¢T) ￿L) 7J* u<