MOUNT CALVARY PENTECOSTAL CHURCH, BALLYMONEY Statement of Flnancial Activities for the Year ended 31st January 2023 Unrestrlcted Restrlcted Tolal Funds Funds 2023 Total 2022 Income Tithes and Offerings Building Fund Special Gifts Building Fund Boxes Income from CD'sIPens Misc Fund Raising NW200 Carparking Gift Aid Reclarm Interest Received 50p Project Memorials Church Dinner 61.199 61,199 8379 1.400 60,082 8,725 3,600 8.379 1,400 90 90 100 9,257 9.257 7.673 500 500 1,000 475 725 725 Total InGome 73,171 8,379 81,550 81,655 Expendlture Repairs & Maintenance Insurance Heal Lighl & Power Advertisingiwebsite Pastors Income Piano Tuning Mother & Fathers Day Sunday School Church Dinner. 88Q & Day trip 8ank Charges Cleaninglsanilisabon Suppl,es Slatsonery & oifice Supplies Missions Recording Supplies Accountancy Fees Sundry speakers Depreciat on 2,075 2.075 2 137 3.719 130 12.000 2137 3.719 130 12,000 1,628 1.955 1,916 90 11.700 125 281 2820 610 125 281 610 599 778 2700 46 570 1020 320 778 2.700 46 570 1,020 3?0 12.116 500 5.500 540 498 12 11D 12.116 Total Expenditure 27,256 14,191 41,447 Net Income before transfers 45.915 -?.812 40.103 44,352 Transfers belween funds 6.304 -6.304 Net movement In funds 52.219 -12,116 40.103 44,352 Total funds brought forward Total funds carrled forward 182095 717249 959344 914992 234,314 765,133 999,447 959,344 MOUNT CALVARY PENTECOSTAL CHURCH, BALLYMONEY Notes to the Flnanclal Statements - year ended 31st January 2023 ACCOUNTING POUCIES BASIS OF FINANCIAL STATEMENTS The financial slalements have been prepared in accordance with Accountlng and Reportlng by Charitie5". statement of Recommended Practice appllcable lo charities preparing Iheir accounts In accordance wilh Financial Reporting Standard applicable in the UK and Ireland IFRS102) (effective 1 January 2015). The financlal statements have been prepared under the historical cost convention except for investmenl a888ts, which arn shown at market value. The financial stalemenis include all transactons, assets and liablllt185 for which the congregation is responsible in law. FUND ACCOUNTING Endowment funds ar8 funds. the capital of whlch must by retained either pemianently or at the congregation's discretion. the income derived Irom the endowment is to be used either as resttlcted or unrestriclad income funds depending upon the purpose for which the endowment was established in the first place. Restricted funds comprise (al income from endowments which is lo be expended only on the restricted purp05e8 inteded by the donor and Ib) revenue donations or grant3 lor a specific congregalional activlty Intended by the donor. Where these funds have unspent balances, Interest on Iheir pooled investrnent is apportloned to the indlvidval funds on an everage balan￿ basis. UnrestriGled funds are income funds which are to be spent on the congregalion'5 general purposes. Deslgnated funds are general funds set aside by Ihe congregation for use in the future. INCOMING RESOURCES Recognltlon of Incomlng r•8ources These are included in the Stalement of Financial Activities (SOFA) when,. The congregaiion becomes entitled lo the resources., The tru8lees are virtually certain they will receive the resources and The monetary value can be measured with sufflcient reliabilty. Incoming resourcos wlth related gxpendlturn Where incoming resources have related expenditure (as with fundraising incoma) the incorning resources and related expendilure are reported gross in the SOFA. Grants and donatlons Grants and donations are only included in the SOFA when the congregation has uncondillonal entillem•nt to the resource8. Tax reclaims on donations and glftg Incoming resource5 from lax fedaims are includ8d in the SOFA al the same lime as the gift lo which they relate. EXPENDITURE AND LIABILITIES (vl Llablllty recognltlon Liabilities are recognlsed as 500n as there is a legal or constructive obligatlon committing the congregalion to pay oul resources. MOUNT CALVARY PENTECOSTAL CHURCH. BALLYMONEY Notes to the Financlal Ststements - year ended 31st January 2023 ASSETS (vl) Tanglble FIx8d Assets The Church Building and Halls are recogni5ed at cost, belng the estimated falr value of the property. No depreciation has been provided on the Church Buikling as the ¢urr¢nt estsmaled residual value Is not le35 than its carying value and the remalnlng useful life cunenlly exceeds 50 years. Tangible fixed a85els for use by the eharty are ¢apitallsed If they can be used for rn0￿ than one year. year They are valued al cost or, il glfted, al the value lo Ihe Cong￿93110n on receipl. Depreciation s reeorded on all tangible fixed asse15 olher than buildings. at rales calculated to wrile off the cosl ol eath asset over rts expected useful Ilfe as follows.. AV. Sound & Technical Equipment over 4 years Flxlure5. Flttlngs and Equlpment over 10 years TANGIBLE FIXED A88ETS Flxlurns, Land & AV. Sound FItUngs & Bulldlng8 & Te¢h Equlp Equlpment Total Cost At start of year Addltlon¥ Disposals At end of year 731.131 34,567 34.768 800.456 731.131 34.768 800,456 Depreclatlon Al start of year Provislon for year Elimination on dlsposal At end of year 18,337 8,639 6,870 3,477 23.207 12,116 24,976 10,347 35.323 Net Book Valua At stsrt ofyear 731,131 18,220 27,898 777,249 At end of year 731.131 9,581 24,421 785,133 ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrastrlctsd Rostricted Funds Funds Total Tangible Fixed Assets Current Assets Creditors due after one year 765,133 765,133 234,314 234,314 234,314 765,133 999,447 MOUNT CALVARY PENTECOSTAL CHURCH, BALLYMONEY Balance Sheet as at 31st January 2023 Totsl 2023 Total 2022 Notes Fixed Assets Tangible Fixed Assets 765,133 777,249 765,133 777,249 Current A•¥ets Debtors Cash at bank and in hand 1,754 1.577 232,560 180,518 234,314 182.095 Credltors - falllng due wlthln one year Net Current Assets 999,447 959,344 Credltor8 - falllng due after one year NET ASSETS 999,447 969,344 Funds Unrestricted Funds Restricted FurKIs 234.314 182.095 765.133 777.249 TOTAL FUNDS 999,447 959 344 Approved by the Tnjstees at a meeting on slgned on its behalf by. Date . ag- 0¥- Dale ".