New Testament Pentecostal Church
Accounts
for the year ended 31 March 2023
New Testament Pentecostal Church
Information
Accountants
Gilchrist & Co (CA) Ltd Chartered Accountants 17 Kensington Gate Kensington Road Belfast BT5 6PF
New Testament Pentecostal Church
Contents
| Page | |
|---|---|
| Accountants' report | 1 |
| Trading, profit and loss account | 2 |
| Balance sheet | 3 |
| Notes to the accounts | 4 - 5 |
New Testament Pentecostal Church
Accountants' Report on the Unaudited Accounts to New Testament Pentecostal Church
As described on page 3 you have approved the accounts for the year ended 31 March 2023 set out on pages 2 to 5. In accordance with your instructions we have compiled these unaudited accounts from the accounting records and information and explanations supplied to us.
Gilchrist & Co (CA) Ltd
Chartered Accountants 17 Kensington Gate Kensington Road Belfast BT5 6PF
7 November 2023
Page 1
New Testament Pentecostal Church
Trading and profit and loss account for the year ended 31 March 2023
| Income Member Giving Gifts Other Income Expenses Wages and salaries Staff pension costs Staff training Gifts Cafe Purchases Rates & Water Children & Youth Work Insurance Mission Costs Light and heat Repairs - 17 Main Street Repairs - 4 Harmony Way Printing, postage and stationery Telephone and fax Computer costs Minibus expenses Catering Consultancy fees Accountancy Bank charges Kitchen/cleaning materials Sundry expenses Subscriptions Depreciation on freehold property Depreciation on FF & Equipment Depreciation on motor vehicles Net loss |
2023 £ £ 88,296 10,008 149,073 247,377 61,726 51 110 28,735 47,682 561 2,786 3,571 18,598 7,062 6,586 15,729 2,594 2,058 637 10,403 2,690 26,004 360 288 2,856 4,279 1,543 40,000 5,005 50 ) (291,964 ) (44,587 |
2022 £ £ 169,379 5,649 55,070 230,098 20,910 - - 16,519 18,279 530 3,173 3,327 21,580 4,145 3,154 88,803 5,926 1,306 212 8,139 2,456 24,000 360 267 2,074 5,876 1,219 40,000 5,368 67 ) (277,690 ) (47,592 |
|---|---|---|
Page 2
New Testament Pentecostal Church
Balance sheet as at 31 March 2023
| Notes Fixed assets Tangible assets 2 Current assets Cash at bank and in hand Current liabilities (note 3) Bank loans and overdrafts Other creditors Net current assets Total assets less current liabilities Capital account Brought forward at 1 April 2022 Revaluation Reserve Loss for the year |
2023 £ £ 1,907,615 18,167 2 1,031 1,033 17,134 1,924,749 1,969,336 - ) (44,587 1,924,749 |
2022 £ £ 1,948,756 20,826 - 245 245 20,581 1,969,337 259,429 1,757,500 ) (47,592 1,969,337 |
|---|---|---|
I approve these accounts and confirm that I have made available all relevant records and information for their preparation.
E Edmonds
Date: 7th November 2023
Page 3
New Testament Pentecostal Church
Notes to the accounts
for the year ended 31 March 2023
1. Accounting policies
1.1. Accounting convention
The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.
1.2. Sales
Sales represents the total invoice value, excluding value added tax, of sales made during the year.
1.3. Tangible fixed assets and depreciation
Depreciation is provided at rates calculated to write off the cost or valuation less residual value of each asset over its expected useful life, as follows:
- Land and buildings Straight Line over 2% Straight Line years Fixtures, fittings - and equipment 25% Reducing balance Motor vehicles - 25% Reducing balance
2. Tangible assets
| Tangible assets | Land and | |||
| buildings | Motor | |||
| freehold | Equipment | vehicles | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| At 1 April 2022 | 2,000,000 | 27,370 | 3,000 | 2,030,370 |
| Additions | - | 3,914 | - | 3,914 |
| At 31 March 2023 | 2,000,000 | 31,284 | 3,000 | 2,034,284 |
| Depreciation | ||||
| At 1 April 2022 | 67,550 | 11,264 | 2,800 | 81,614 |
| Charge for the year | 40,000 | 5,005 | 50 | 45,055 |
| At 31 March 2023 | 107,550 | 16,269 | 2,850 | 126,669 |
| Net book values | ||||
| At 31 March 2023 | 1,892,450 | 15,015 | 150 | 1,907,615 |
| At 31 March 2022 | 1,932,450 | 16,106 | 200 | 1,948,756 |
Page 4
New Testament Pentecostal Church
Notes to the accounts
for the year ended 31 March 2023
| 3. Current liabilities Bank loans and overdrafts Taxes and social security costs Other creditors |
2023 £ 2 895 136 1,033 |
2022 £ - 245 - |
|---|---|---|
| 245 |
Page 5