Charity registration number NIC 100670 WHITEWELL METROPOLITAN TABERNACLE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
WHITEWELL METROPOLITAN TABERNACLE LEGALAND ADMINISTRATIVE INFORMATION Trustees Pastor David Purse Mr Charles Purse MrAlan Cartwright Mr Derek Mcllveen Mr l McAlees Pastor Francis Weir (Appointed 19 December 2023) (Appointed 19 December 2023) (Appointed 10 February 20251 (Appointed 10 February 20251 Charity number NIC 100670 Principal address 837-869 Shore Road Belfast BT15 4HS Audltor GMCG LISBURN Century House 40 Crescent Business Park Lisburn BT28 2GN Bankers Danske Bank 471- 473 Antrim Road Antrim Road Plaza Belfast BT15 3BP Solicitors Shean Dickson Merrick 38-42 Hill Street Belfast BT12LB Crawford Lockhart Black Solicitors 7 - 11 Linenhall Street Belfast BT2 8AA
WHITEWELL METROPOLITAN TABERNACLE CONTENTS Page Trustees, report Independent auditor's report statement of financial activities 10 statement of financial position 11 statement of cash flows 12 Notes lo the finanGial statements 13-21
WHITEWELL METROPOLITAN TABERNACLE TRUSTEES, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 The trustees present their annual report and financial statements for the year ended 30 September 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 church's trust deed, the Charities Act (Northern Ireland) 2008 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 1021" (as amended for accounting periods commencing from 1 January 20191 Objectives and activities The said church began in February 1957 with the objective of proclaiming, promoting and spreading the Christian faith as defined and sel forth in the Bible and we continue to fulfil that original objective. Our beliefs precepts and practises are defined and decided, not by the words and decrees of men, but by the Word of God which we continue to hold to be the highest authority, being Ihe unvarnished and inspired Word of God. The chief activilies of the church, in order to achieve the above. are the holding of regular Christian services each week, the providing of youth activities and the broadcasting of our seNices with the provision of sewices of a charitable benefit to the communily and abroad. The trustees have paid due regard lo guidance issued by the Charity Commission in deciding what activities the church should undertake. Achievements and performance Over the months our church services have been good with people coming to faith in Christ. There have been some 12 people of all ages undergoing the ordinance of believers baptlsm, 6 baby dedications and 29 new converts completing our new converts 'Genesis Course., There were also 5 weddings performed. We have noticed attendance at our midweek SeiceS increasing and an increase in Ihose who avail themselves of our on-line services throughout the UK and abroad in places as far off as the USA, Kenya, Ethiopia, Australia and New Zealand. A few churches who do not have their own minister now meet to walch our services and we now also have people for whom Vvhitewell has become their church, and they are 'on-line members., This is a wonderful and exciting development.
WHITEWELL METROPOLITAN TABERNACLE TRUSTEES, REPORT {CONTINUED> FOR THE YEAR ENDED 30 SEPTENIBER 2024 Notable ev nts thro ut the ear In October, the 'Christian Ii?stiÈute' broughl a presentation on issues affecting Christians in today's society and the church hosted a gospel Goncert by the popular Christian singer Kari Job. In November, there was an annual enrolment service for our 230th Girls Brigade and 112th Scout companies. There was also an Acl of Remembrance for Remembrance Sunday. The church Christmas Fayre also took place drawing hundreds and was very well attended. In December, our annual Senior Members Christmas dinner was held with over 200 in attendance. Each one look home a Christmas giftbag. There was also a Christmas musical in church, carol singing in Belfast Cily Centre and the very popular Christmas Carol Service and the Watchnighl service on 31 st seeing out the old year and welcoming in the new. In January, the Ethiopia support team along with Pastor F. Weir and Pastor M. Bunting visited our missionary projects in both Ethiopia and Kenya bringing back a glowing report of many lives being touched and impacted for good. In Kenya, the pastors also ordained to Ihe ministry a young man {Jacob} to paslor the church in the town of Neyri. In February, the church celebrated its 67th anniversary with pastor John Maclnnes from the KilmarnoGk church being our visiting speaker. In March, our academy hosted an 'Answers In Genesis, conference which again was well attended and Easter was celebrated with Good Friday and Easter Sunday services as usual, well supported. In April our Academy took some 35 students on a short Irip to Berlin and Wittenburg in Germany. This was to do with the academy studies on Martin Luther and his involvement in the Reformation. What a fantastic time the students had calling on the Academy to organise a similar trip. In May, after 35 years of full-time ministry as a pastor at Whitewell, Pastor Michael Bunting who was very popular pastor in church retired. The church honoured him and his wife with a farewell gift in church as the congregation stood to applaud after his short speech. In June, the Shepherds Academy concluded its 3rd year of studies. There was a wonderful end of term annual dinner and awards night with over 120 in attendance and Ihe following night at church 34 of our students, after 3 years study received their 'Diplomas in Pastoral and Biblical Studies, and it is great to see them taking on roles and responsibilities in the church. Truly the academy is living up to its motto, 'Equipping the saints for ministry., In July, the Tabernacle played host to the Elim Pentecostal annual 'Wonderous' event for 4 days of worship, ministry of the word and fellowship. In August, we also put on our Annual Fun Day and BBQ at Crawfordsburn Country Park where there was fun and fellowship for some 600 to 700 people. This was a free event just for the church to get together. A superb day was enjoyed by all. In September, ourAcademy began its 4th year with the introduction of a new 1 year 'Foundation Course, which is really New Testament inlroduction. What interest there was as nearly 200 students enrolled, some of them participating online due to being from outside Northern Ireland. Some of the students ome from other churches but are most welcome. We also opened our first branch of the Academy in Kilmarnock, Scotland, overseen by Pastor John Maclnnes and his wife. We are also looking into the possibility of a branch of the Academy in Kenya. We also held our great evangelistic mission again, 'Alive Belfast, with visiting evangelist Pastor David Ham from 'Soul Cry Church, in New York. Prior to the actual event a week of prayer was held as well as 1,OOOs of leaflet invitations delivered lo many homes and who will forget Ihe wonderful prayer meeting held on lop of 'Cave Hill, as we prayed over our city. This was possibly our best Alive Belfast evenl with excellent attendance and people Goming to faith. The event also involved an open- air service in Belfast City Cenlre on the Saturday afternoon.
WHITEWELL METROPOLITAN TABERNACLE TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 ther Actlvl Throughout the year many other aclivilies are run and lake place on a weekly basis from Girl's Brigade to Boys Scouts, Children's Church al both Sunday morning and evening services. The 'Well' which is a Saturday night event for older youth and now a new 'Junior Well, for children aged 8 to 15 since the end ofAugust. 'Befrieiiders' is a ministry to disabled people bringing them to church and providing supper for them after Sunday evening service. 'Grief Share, is a support ministry for those who have suffered the loss of a loved one. There is also various men's and women fellowship groups as well as leaflet distribution and gospel tract distribution leams. Fundraising for our missionary projects and children's Bible clubs held during school holiday breaks. 'Manna Formany, is a team of volunteers who minister to those living on the streets of our city providing hot food, sleeping bags and outdoor clothing. A second group of church folk also do a similar work. The church enables a 'Hampers Ministry, also where needy people and families receive food hampers when needed. This is especially needed at Christmas lime with toys for needy children also being given. There is also a 'Safeguarding Team, that ensures those who work with children and young adulls are safe to do so and they are on hand to provide any guidance and support to volunteer workers. The Ro e Holders When the life of the newly converted Saul of Tarshish was being sought by the enemies of Christianity in Damascus, that Saul escaped by being let down over Ihe city wall in a basket. This allowed him to fulfil his mission of spreading the gospel Ihroughout the Mediterranean world and eastern Europe, but il only happened because of a small group of anonymous people who held the rope that lowered him safely to the ground. So much happens in Whitewell and its many minislries, bul it wouldn'l happen if it wasn't for Ihose who week after week faithfully hold the rope that enables the work lo be done. Choir and worship leaders, musicians and singers, minibus drivers, car park attendants, volunteer cleaners and helpers and maintenance workers. Sunday night supper providers and Wednesday night coffee bar servers after Ihe Bible study. Sound and camera and video operators, security operators, stewards and deacons and elders and pastors. Various boards that run departments greasing the wheels lo enable Whilewell to run smoothly to fulfil its mission. We acknowledge and would thank Ihe 'Whilewell Rope Holders, for all that they do. Often they work behind the Scenes doing what few are aware of and yet is so vital in the grand scheme of things. Thank you again, one and all. "Always abounding in the work of the Lord, for as much as you know, that your labour is not in vain in the vain.°11 Corinlhinans 15.'581. It should also be mentioned that the 'Oversighl' of the church holds a business and pastoral meeting each month and the trustees meet quarterly lo help ensure things are done well and above board. Financial review The Board of Trustees consider that the unrestricted funds of Ihe charity have sufficient resources and assels available which are adequate to fulfil Iheir obligations. At 30 September 2024 the balance of unrestricted reserves was £7,877,167 (2023 - £7,712,987). It is the policy of the church that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between six and nine month's expenditure. The trustees considers that reserves al this level will ensure that, in the event of a significant drop in funding, they will be able to Gonlinue the churGh's current activities while thought is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. The trustees have assessed the major risks to which the church is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
WHITEWELL METROPOLITAN TABERNACLE TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 structure, governance and management The church is constituted as trustees incorporated as a body and was eslablished by a charitable trust deed. The trustees who served during the year and up lo the date of signature of the financial stalements were.. Pastor David Purse Mr Charles Purse Pastor Robert Higgins MrAlan Cartwright Mr Derek Mcllveen Mr l McAlees Pastor Francis Weir (Resigned 10 February 2025) (Appointed 19 December 2023) (Appointed 19 December 2023) (Appointed 10 February 2025) {Appointed 10 February 20251 The Oversight ofthe church have, by resolution al a meeting of same, the power to appoint new trustees. There are 5 trustee positions on the truslee board. We hold that there ought to be more non paid trustees than employed trustees. Finally, for all we are able lo do to serve one another and beyond the walls of our church we ultimately say, Sola Deo Gloria, 'Glory to God alone,. Statement of trustees, responslbilities The trustees 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). The law applicable to Gharities in Northern Ireland requires the Irustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the church and of the inc(xning resources and application of resources of the church for that year. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently; observe Ihe methods and principles in the Charities SORP 2015 (FRS 102)., make judgements and estimates that are reasonable and prudent., stale whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial stalemenls., 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 Ghurch and enable them to ensure that the financial statements comply with the Charities Act Northern Ireland {2008), the Charity (Accounts and Reports) Regulations (Northern Ireland) 2015 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Th rustees, rep rtwa approved by the Board of Trustees. urse Dated..
WHITEWELL METROPOLITAN TABERNACLE INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF WHITEWELL METROPOLITAN TABERNACLE Opinion We have audited the financial statements of Whitewell Metropolitan Tabernacle (the 'church'l for fhe year ended 30 September 2024 which comprise the statement of financial activities, the statement of financial position, 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 Slandard applicable in the UK and Republic of Ireland (Uniled Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the state of the church affairs as at 30 September 2024 and of its incoming resources and application of resources, for Ihe year then ended- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi., and have been prepared in accordance with the requirements of the Charities Act {Northern Ireland) 2008. Basls for opinlon We conducted our audit in accordance with International Standards on Auditing (UK} (ISAS {UK)) and applicable law. Our responsibilities under Ihose standards are further described in the Auditors responsibilities for the audil ol the financial statemenls section of our report. We are independent of the church in accordance with the elhical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Elhical 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. Conclusion5 relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concem basis ol accounting in the preparation of the financial statements is approprtate. 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 church's ability to continue as a going concern for a period of at least twelve months from when the financial statemer)ts 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.
WHITEWELL METROPOLITAN TABERNACLE INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEES OF WHITEWELL METROPOLITAN TABERNACLE other informatlon The olher information comprises the information included in the annual report other than the financial statements and our auditorfs 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 lo 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 Ihat fact. We have nolhing to report in this regard. Matters on whlch we are required to report by exception We have nothing to report in respect of the following matters in relalion to which the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 require us to report to you if, in our opinion.. the information given in the financial statements is inGonsistent 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. Responsibllities of trustees As explained more fully in the slatement of trustees, responsibilities, the trustees are responsible for the preparation of Ihe 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 church'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 cease operations. or have no realistic alternative but to do so. Auditor's responslbilities for the audlt of the financial statements We have been appointed as auditor under section 65(2) of the Charities Act (Northern Ireland12008 and report in accordance with regulations made under section 66 of that Act. Our objectives are to obtain reasonable assurance about whelher the financial statements as a whole are free from material misstatement, whether due lo 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 il 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.
WHITEWELL METROPOLITAN TABERNACLE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF WHITEWELL METROPOLITAN TABERNACLE Extent to which the audit was consldered capable of detecting irregularities, Including fraud We identify and assess the risks of material misstatement of the financial statemenls, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. In idenlifying and assessing potential risks of material misstatemenl in respect of irregularities, including fraud and non-compliances wilh laws and regulations, we considered the following- The nature of the industry and sector, control environment and business performance, including the charity's remuneration policies for trustees, bonus levels and performance targets, if any., Results of our enquiries of management about their own identification and assessment of the risks of irregularities., Any matters we identified having obtained and reviewed the church's documentation of their policies and procedures relating lo: Identifying, evaluating and complying with laws and regulations and whether they were aware of any instanGe of non-compliance., Detecting and responding to the risks of fraud and whelher they have knowledge of any actual, suspected or alleged fraud; and The internal controls established to mitigate risks of fraud or non-compliance with laws and regulations., The matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and potential indicators of fraud. As a result of these procedures, we considered the opportunities and incentives that may exist within the church for fraud and identified the greatesl potential for fraud in income recognition. In common with all audits under ISAS (UK), we are also required to perform specific procedures lo respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the church operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included Part 4 of the Charities (Accounts and Reports) Regulations (Northern Ireland} 2015, and local tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial staternents but compliance with which may be fundamental to the church's ability to operate or to avoid a material penalty.
WHITEWELL METROPOLITAN TABERNACLE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF WHITEWELL METROPOLITAN TABERNACLE Audit response to rlsks identified Our procedures to respond to the risks identified included the following: Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements., Enquiring of management concerning actual and potential litigation and claims., Performing analytical procedures to idenlify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud., Reading minutes of meetings of those charged with governance and reviewing correspondence with tax authorities; and In addressing Ihe risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments.. assessing whether the judgements made in making accounting eslimates are indicative of a potential bias- and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert lo any indications of fraud or non-compliance with laws and regulations throughout the audit. Owing to the inherent limitalions of an audil, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. In addition, as with any audit, there remains a higher risk of non-detection of irregularities, as they may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannol be expected to detect non- Gompliance with all laws and regulations. A further description of our responsibilities is available on the Financial Reporting Council's website al.. https:11 w.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
WHITEWELL METROPOLITAN TABERNACLE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF WHITEWELL METROPOLITAN TABERNACLE 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 slate to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assLrme 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. 6Zh '(f L& a•h GMCG LISBURN Chartered Accountants statutory Audltor Century House 40 Crescent Business Park Lisburn BT28 2GN GMCG LISBURN is eligible for appointment as auditor of the church by virtue of its eligibility for appointment as auditor of a cornpany under section 1212 of the CompaniesAct 2006.
WHITEWELL METROPOLITAN TABERNACLE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Unrestricted funds 2024 Unrestricted funds 2023 Notes Income from: Donations and legacies other trading activities Investments 1,560,862 13,301 64,159 1,423,094 13,460 36,770 Total income 1,638,322 1,473,324 Expenditure on: Charitable activities 1,474,142 1,562,263 Total expendlture 1,474,142 1,562,263 Net incomel{expenditurel and movement in funds 164,180 (88,939) Reconciliation of funds: Fund balances at 1 October 2023 7,712,987 7,801,926 Fund balances at 30 September 2024 7,877,167 7,712,987 The statement of financial activities includes all gains and losses recognised in Ihe year. All income and expenditure derive from Gonlinuing activities. 10
WHITEWELL METROPOLITAN TABERNACLE STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2024 2024 2023 Notes Fixed assets Tangible assets Current assets Debtors Investments Cash at bank and in hand 12 5.883,035 5,849,244 13 14 66,135 1,177,052 805,616 80,748 1,124,274 689,541 2,048,803 1,894,563 Creditors: amounts falling due wlthln one year 15 (54,671) (30,820) Net current assels 1,994,132 1,863,743 Total assets less current Ilabilities 7,877,167 7,712,987 Income funds Unrestricted funds 7,877,167 7,712,987 7,877,167 7,712,987 The fin and cial sta were approved by the Board of Trustees, authorised for issue on alf by Pas se 11
WHITEWELL METROPOLITAN TABERNACLE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2024 2024 2023 Notes Cash flows from operating activities Cash generated froml{absorbed by) operations 18 220,295 (81,337) Investlng activities Purchase of tangible fixed assets Proceeds on disposal of tangible fixed assels (Purchase)ISale of current asset investments Interest received (115,851) (109,809) 250 800 {52,778) 64,159 201,777 36,770 Net cash (used inllgenerated from Investing activities {104,220) 129,538 Net Increase in cash and cash equivalents 116,075 48,201 Cash and cash equivalents at beginning of year 689,541 641,340 Cash and cash equivalents at end of year 805,616 689,541 12-
WHITEWELL METROPOLITAN TABERNACLE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accounting policies Charity information Whitewell Metropolitan Tabernacle is a unincorporated charity registered in Northern Ireland. The registered office is 837- 869 Shore Road, Belfast, CoAntrim, BT15 4HS. 1.1 Accounting convention The financial statements have been prepared in accordance with the church's trust deed, the Charities Act (Northern Ireland) 2008 and "Accounting and Reporting by Charities.. Statement of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021" (as amended for accounting periods commencing from 1 January 2019). The church is a Public Benefit Entity as defined by FRS 102. The financial stalemenls are prepared in sterling, which is the functional currency of the church. 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. 1.2 Going concern Al the time of approving the financial slatemenls, the trustees have a reasonable expectation that the church 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. 1.3 Charitable funds Unrestricted funds are available for use al the discretion of the trustees in furtherance of their charitable objectives. 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 sel out in the notes to the financial statements. 1.4 Income Income is recognised when the church is legally entitled to it after any performance conditions have been met, the amounts Gan be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipi. other donations are recognised once the church 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. Legacies are recognised on receipt or otherwise if the church has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Assets given for use by the church are recognised when receivable. 1.5 Expenditure Expenditure is recognised on an accruals basis as a liability is incurred. Charitable expenditure comprises those costs incurred by the charity in the delivery of ils activities and services for ils beneficiaries. It includes both costs that can be allocated directly to such activities and Ihose costs of an indirect nature lo support them. Support costs are those functions that assist work of the charity but do not directly undertake charitable activities. Support and other costs have been allocated to charitable activities based on actual usage by that activity. 13-
WHITEWELL METROPOLITAN TABERNACLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 30 SEPTENIBER 2024 Accounting policies (Continued) 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairmenl losses. Deprecialion is recognised so as to write off the Gost or valuation of assets less their residual values over their useful lives on Ihe following bases-. Land and buildings Plant and equipment Fixtures and filtings Motor vehicles 2 /0 Straight Line 250/0 Straighl Line 250/0 Straighl Line 25 % straight Line The gain or loss arising on the disposal of an assel is determined as the difference between the sale proceeds and the carrying value of Ihe asset, and is reGognised in the statement of financial aclivilies. 1.7 Cash and cash equlvalents 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 currenl liabilities. 1.8 Financial instruments The church 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 church's balance sheet when the church 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 sel off the recognised amounts and there is an intention lo seltle on a net basis or to realise the asset and settle the liabilily simultaneously. Basic financial assets Basic financial assets, which include debtors and Gash 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 classif5ed as receivable within one year are not amortised. Basic financial liabilities Basic financial liabililies, including creditors and bank loans are initially recognised al transaction price unless the arrangemenl constilutes 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 instrumenls are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations lo 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. Derecognition of financial liabilities Financial liabilities are derecognised when the church's Gontractual obligations expire or are discharged or Gancelled. 14-
WHITEWELL METROPOLITAN TABERNACLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accounting policles (Continued) 1.9 Employee benefits The Cost of any unused holiday entitlement is recognised in the period in which Ihe employee's services are received. Termination benefits are recognised immediately as an expense when the church is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.10 Retirement benefits Payments to defined contribution retirement benefit schemes are Gharged as an expense as they fall due. 1.11 Leases Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease. 1.12 Accumulated funds Unrestricted funds are the result of the charity's stralegic objective to establish reserves which will allow it to continue operating for a period of six to nine months from the balance sheet date. Critical accountlng estimates and judgements In the application of the church's accounling 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. Key sources of estimation uncertainity Fixed assets The annual depreciation charge on fixed assets depends primarily on the estimated lives of each type of asset and estimates of residual values. The directors regularly review these assets lives and change them as necessary to reflect current thinking on remaining lives in light of prospective e¢onomiG utilisation and physical condition of the assets Concerned. Changes in assets lives can have a significant impact on depreciation charges for the period. Detail of the useful lives is included in the accounting policies. Donations and legacles Unrestricted Unrestricted funds funds 2024 2023 Donations and gifts 1,560,862 1,423,094 Donations and gifts relate to advancement of religion. 11 is at the discretion of the Trustee's how funds are allocated between Northern Ireland, Kenya and Ethiopia. 15-
WHITEWELL METROPOLITAN TABERNACLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Other trading actlvitles Unrestricted funds Total 2024 2023 Other income Advertising income 9,501 3,800 9,660 3,800 Other trading activities 13,301 13,460 Income from Investments Unrestricted Unrestricted funds funds 2024 2023 Interest receivable 64,159 36,770 16
WHITEWELL METROPOLITAN TABERNACLE NOTES TO THE FINANCIAL STATEIIfiENTS {CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Charitable actlvlties Advancement of religion in: Northern Ethiopia Kenya Ireland Total 2024 Total 2023 Staff costs Depreciation & disposal of fixed assets Children and youth work Travel missions Home missions Social funclions and rallies Ethiopia expenses Kenya expenses Audio visual minislry Abide conference 700,691 81,811 7,779 11,586 33,496 33,712 990 990 702,671 81,811 7,779 11,586 33,496 33,712 107,410 67,761 30,586 671,217 73,215 3,777 13,361 27,522 17,125 104,319 76,082 36,121 300 107,410 67,761 30,586 899,661 108,400 68,751 1,076,812 1,023,039 Share of support costs (see note 7) Share of governance costs (see note 383,150 383,150 524,884 7) 14,180 14,180 14,340 1,296,991 108,400 68,751 1,474,142 1,562,263 Unrestricted funds 1,296,991 108,400 68,751 1,474,142 1,296,991 108,400 68,751 1,474,142 For the year ended 30 September 2023 Unreslricled funds 1,380,022 105,239 77,002 1,562,263 1,380,022 105,239 77,002 1,562,263 17-
WHITEWELL METROPOLITAN TABERNACLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Support costs Support Governance costs costs 2024 2023 Basls of allocation Rates Insurance Light and heal Maintenance Adverts & literature Telephone and postage Motor expenses Operating leases Bank charges Sundry expenses 21,104 76,044 94,429 90,337 30,887 8,493 44,033 9,941 4,810 3,072 21,104 76,044 94,429 90.337 30,887 8,493 44,033 9,941 4,810 3,072 18,293 Useage 70,992 Useage 94,915 Useage 245,542 Useage 25,042 Useage 8,153 Useage 45,393 Useage 9,941 Useage 5,375 Useage 1,238 Useage Audit fees Accountancy 7,200 6,980 7,200 6,980 7,200 Governance 7.140 Governance 383,150 14,180 397,330 539,224 Analysed between Charitable activities 383,150 14,180 397,330 539,224 Governance costs comprises payments to the auditors of £7,200 (2023- £7,200) for audit services and £6,420 {2023- £6,660) for the provision of accounts preparation and taxation services. Net movement in funds 2024 2023 The net movement in funds is stated after chargingl(crediling)'. Fees payable for the audit of Ihe charity's financial statements Depreciation of owned tangible fixed assels Profit on disposal of tangible fixed assets 7,200 82,061 {2501 7,200 74,015 (8001 Trustees During the year remuneralion and olher benefits were paid to Pastor David Purse of £49.81212023- £49,841) and Pastor Shaw Higgins of £43,937 {2023- £43,497) for employment by the church as Pastors. 10 Employees The average monthly number of employees during the year was: 2024 Number 2023 Number 21 22 18
WHITEWELL METROPOLITAN TABERNACLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 10 Employees {Contlnuedl Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 587,156 52,454 63,061 564,318 44,543 62,356 702,671 671,217 There were no employees whose annual emoluments were £60,000 or more. There were no employees whose annual remuneration was more than £60,000. 11 Taxation As a charity all profits from trading activities and investment income are used for charitable purposes and thus no liability lo corporation tax arises. 12 Tangible flxed assets Land and Plant and Fixtures and buildings equipment fittlngs Motor vehicles Total Cost At 1 October 2023 Additions Disposals 6,133,255 7,638 1,557,918 85,851 173,674 30,000 (13,240) 7,872,485 115,851 (13,240) At 30 September 2024 6,133,255 7,638 1,643,769 190,434 7,975,096 Depreclation and impairment At 1 October 2023 Deprecialion Gharged in the year Eliminated in respect of disposals 483,403 32,669 7,638 1,383,916 37,770 148,283 11,622 113,2401 2,023,240 82,061 {13,240) At 30 September 2024 516,072 7,638 1,421,686 146,665 2,092,061 Carrying amount At 30 September 2024 5,617,183 222,083 43,769 5,883,035 At 30 September 2023 5,649,852 174,001 25,391 5,849,244 19-
WHITEWELL METROPOLITAN TABERNACLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 13 Debtors 2024 2023 Amounts falling due within one year: other debtors Prepayments and accrued income 41,559 24,576 57,743 23,005 66,135 80,748 14 Current asset investments 2024 2023 Unlisted investments 1,177,052 1,124,274 The trustees have invested monies to ensure greater financial protection and higher interest rates. 15 Credltors: amounts falling due within one year 2024 2023 Other taxation and social security Trade Gredilors Other creditors Accruals and deferred inGome 10,649 15,425 12,133 16,464 12 17,400 13,408 54,671 30,820 16 Operating lease commitments At the reporting end date the church had oulslanding commitments for future minimum lease payments under non-canGellable operating leases, whiGh fall due as follows.. 2024 2023 Within one year Between two and five years 2,485 9,941 2,485 2,485 12,426 -20-
WHITEWELL METROPOLITAN TABERNACLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 17 Related party transactions Remuneration of key management personnel The remuneration of key management personnel was as follows.. 2024 2023 Aggregate cornpensation 327,438 300,403 18 Cash generated from operations 2024 2023 Surplusl(deficitl for the year 164,180 {88,939) Adjustments for.. Investmenl income recognised in statement of financial activities Gain on disposal of tangible fixed assets Depreciation and impairment of tangible fixed assets (64,159) (250) 82,061 (36,770} 18001 74,015 Movements in working capilal.. Decreasellincrease) in debtors Increaselldecrease} in creditors 14,612 23,851 {18,973) (9,870) Cash generated froml(absorbed by) operations 220,295 (81,3371 19 Analysis of changes in net funds The church had no material debt during the year. 21