Charity No: NIC100052 The Mall Baptist Church Trustee Report and Financial Statements for the year ended 31 October 2024
The Mall Baptlst Church Statement of Financlal Artivity for the Year Ended 315t October 2024 Note Unrestricted Funds Restricted Funds Endowment Funds Total 2024 Total 2023 Income from: Donations & Legacies Charitable Activities Other trading actlvities 38,192 38,192 42,229 Other income Total Income 38,192 38,192 42,229 Expenditure on.. Charitable Activities Other Expenditure 31,799 17741 31,799 {7741 36,913 2,100 Total expendlture 31.025 31,025 39,013 Net Income / {deficit) 7.167 7.167 3,216 Net movement In funds Reconciliation of funds.. Total funds brought fonvard 7,167 7,167 3,216 8,531 8,531 5,315 Total funds carried forward 15,698 15,698 8,531
The Mall Baptist Church Balance Sheet as at 31st October 2024 Unrestricted Funds Restricted Funds Endowment Funds Totsl 2024 Total 2023 Fixed asset5: Tangible assets 23,829 23,829 7,184 Total flxed assets 23,829 23,829 7,184 Current assets Debtors and prepayments Cash at bank and in hand 49 3,371 49 3,371 13 5N91 Total current assets 3,420 3,420 5,504 Current Ilabilitles Creditor5 due within one year Hire Purchase, Loans & Bank Overdrafts io 491 491 643 li 11,060 11,060 3,514 Total current liabilitles 11,551 11,551 4,157 Net current a55ets 18,131) (8,131) 1,347 Total net assets 15,698 15,698 8,531 Funds of the charltv Unrestricted funds 12 15,698 15,698 8,531 Total charity funds 15,698 15,698 8,531 Signed on behalf of the Trustess Bv: Trustee.. Gary Brown Trustee: lan Mccall Date.. 3010412025 Date.. 3010412025
The Mall Baptlst Church Notes to the Accounts - Year Ended 31st October 2024 ACCOUNTING POLICIES BASIS OF FINANCIALSTATEMENTS As the total income of the congregation is less than £250,000 the congregation have elected in accordance with the provisions in The Charlties (Accounts and Reports Regulations (Northern Ireland) 2015 to prepare its accounts on a receipts and payments basis. FUND ACCOUNTING Endowment funds are funds, the capital of which must be retained either permanently or at the congregation's discretion: the income derived from the endowment is to be used either as restricted or unrestricted income funds dependin8 upon the purpose for which the endowment was established in the first place. Restrlrted funds comprise lal income from endowments which is to be expended only on the restricted purposes intended by the donor and Ibl revenue donations or grants for a specific congregational activity intended by the donor. Where these fund5 have unspent balances, interest on their pooled investmentls apportioned to the individual funds on an average balance basis. Unrestricted funds are income funds which are to be spent on the congregation's general purposes. Designated funds are general funds set aside by the congregation for use in the future. I. ACCOUNTING POLICIES The principal accounting policies adopted, judgements and key source5 of estimation uncertainty in preparation of the financial statements are as follows: a Basi5 of preparation The account5 are prepared in accordance with the Charities Statement of Recommended Practice Icharities SORP 20221, FR5102 and with the Charitie5 Act 2011. b Income recognition All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it 15 probable that the income will be received. c Donations Donations are accounted for gross when recelved. Fixed a55et gifts in kind are recognised when receivable and are included at fair value. d Legacies Legacies are accounted for when probate has been completed, the amount of the legacy can be rellably quantlfied and the conditions of the legacy are within the control of the Church. e Investment Income Investment income 15 included in the accounts in the year in which it is receivable. f Expendlture recognitlon All expenditure is accounted for on an accruals basis. Expenditure is recognised where there is a legal or constructive obligation to make payment5 to third parties, It is probable that settlement will be required and the amount of the obligation can be measured reliably.
The Mall Baptlst Church Notes to the Accounts - Year Ended 31st October 2024 (cont'dl g Support Costs Support costs are those that assist the work of the Church but do not directly represent charitable activitles and include offlce costs and 80vernance costs. Where the support costs cannot be directly attributed to particular headings they have been allocated to the c05t of raising funds and expenditure on charitable activities on a basis consistent with the use of resources. This represents direct expenditure on the governance of the Church, Most of the management is carried out without charge by volunteers. Thi5 intangible cost is not Included In the Statement of Financial Activities since there is no measurable cost to the volunteers for their setvice. h Tangible fixed assets During the year ended 31st October 2024, depreciation has been provided on all fixed a55ets, to write off the cost on a reducln8 balance over their expected useful life. at the following rate.. Fixtures and fittings 15% Motor Vehicels 25% Compuer Equipment 25% The fair value of all tangible fixed assets will be reviewed by the Trustees annually. l Funds Unrestricted funds are available for use at the discretlon of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purpose5. Restricted funds are fund5 which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for specific purposes. The cost of raising and administering such fund5 are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. J Employee benefits The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contr5butions into a separate entity. Once the contributions have been paid the charity ha5 no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown In accruals in the balance sheet. These assets of the plan are held Separately from the charity in an independently admlni5tered fund. k Preparatlon of accounts on a golng concern basis The Church generally meets its day-to-day working capital requirements from its annual income. The Trustees have obtained and reviewed cash flow forecasts for the incoming year and based on these are satisfied that the Church has resources to provide reasonable expectation that it can continue to meet its financial obli8ation5 as they fall due for the foreseeable future. Therefore, these financial statements have been prepared on a going concern basls.
The Mall Baptist Church Notes to the Accounts- Year Ended 31st October 2024 Icont'd) 2. DONATIONS & LEGACIES Unrestricted Fund5 Restricted Funds Endowment Funds Total 2024 Total 2023 Donations and gifts GiftAid 30,842 7,350 30,842 7,350 30,831 11,398 38,192 38,192 42,229 3 CHARITABLEAcfiviTIES Unrestricted Funds Restricted Funds Endowment Funds Total 2024 Total 2023 Ministry and support staff costs Outreach Utilities General Church activity expenses Govenance Costs 15,916 1,821 1,209 12,373 480 15,916 1,821 1,209 12,373 480 16,508 815 1350 17,525 715 31,799 31,799 36,913 4 OTHER EXPENDITURE Unrestricted Funds Restricted Funds Endowment Fund5 Total 2024 Total 2023 Fixed Asset Depreciation 3,871 3,871 2,100 Profit on Fixed Asset Disposals 14.6451 14,6451 17741 {7741 2,100 5 TOTAL EXPENDITURE Charitable Activites Other Expenditure Fixed Asset Additions 31,799 17741 25,571 31,799 17741 25,571 36,913 2,100 56,596 56,596 39,013
The Mall Baptist Church Notes to the Accounts- Year Ended 31st October 2024 leont'd) 6 EMPLOYEES Employment Costs Total 2024 Total 2023 Wages and salaries 15,600 16,508 15,600 5,800 Number of employees 2024 2023 The average number of employees during the yearwas.. There were no employees in receipt of employee benefits in excess of £60,000. The Pastor acts as one of the Church's trustees in accordance with the Trust deed and received remuneration in respect of his services as Pastor. The only amounts paid to the remaining Trustees were for out-of-pocket expenses. 7 TANGIBLE FIXED ASSETS Fixtures and Motor Vehlcle Computer Total Cost/valuation As at 1st November 2023 Addition5 Disposals 7,207 21,300 23,950 121,3001 1,847 1,621 30,354 25,571 -21,300 As at 31st October 2024 7,207 23,950 3,468 34,625 Depreclation As at 1st November 2023 Charge for the year Accum Depreciation 5,327 282 16.245 3,493 116,2451 1,598 96 23,170 3,871 -16,245 As at 31st Octoberr 2024 5,609 3,493 1,694 10,796 Net Book Value As at 31st October 2023 1,880 5,055 249 7,184 As at 31st October 2024 1,598 20,457 1,774 23,829 The assets of the Church compri5e'. Fixtures and fittings of the Church, Motor Vehicle and Computer Equipment. During the year ended 31st October 2024 depreciation has been provided on all fixed a55ets. The fair value of all tangible fixed a55ets will be reviewed by the Trustees annually. 8 DEBTORS AND PREPAYMENTS 2024 2023 Debtors 49 13
The Mall Baptlst Church Notes to the Accounts- Year Ended 31st October 2024 Icont'd) 9 CASH AT BANK AND IN HAND 2024 2023 Cash in hand 3,371 5,491 10 CREDITORS DUE 2024 2023 Taxation and social security Other Creditors 31 460 224 419 491 643 11 HIRE PURCHASES, LOANS & BANK OVERDRAFTS 2024 2023 Hire Purchase Credit Card 11,050 io 2,603 911 11,060 3,514 12 MOVEMENT IN FUNDS Balance Net movement at start Balance at end Unrestrlcted Funds General Fund 8,531 7,167 15,698 Total Unre5trlcted Funds 8,531 7,167 15,698 Analysls of closing funds Unrestricted Funds Re5trlcted Funds Total Funds 2024 Total Funds 2023 Fixed assets Current a55ets Current liabilities 23,829 3,420 111,5511 23,829 3,420 (11.5511 7,184 5,504 (4,1571 Total Funds 15,698 15,698 8,531 13 RELATED PARTY TRANSACTIONS Pastor Gary Brown is a trustee of the Church. In hi5 capacity as the Pastor of the congregation he received remuneratlon of £11,600. None of the other trustees received any remuneration, only reimbursement for out-of-pocket expenses incurred in connection with their duties. There were no other related party transactions.
The Mall Baptist Church Notes to the Accounts- Year Ended 31st October 2024 Icont'd) 14 CRITICALACCOUNTING JUDGEMENTS AND ESTIMATION UNCERTAINTY Estimates and judgements made in the proce55 of preparing the flnancial statements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Trustees do not consider that there are any critical accounting estimates or assumptSon5 which may have a slgnificant risk of causing a material adjustment to carrying amounts of assets and liabilities within the next financial year. 15 CAPITAL COMMITMENTS At 315t October 2024 the Church had no capital commltments,