Company Registration Number N1055693 Charity Registration Number NIC101271 Belfast Central Mission (A company limited by guarantee) Annual Report and Financial Statements for the year ended 31 December 2022
Belfast Central Mission (A compan). limited by guarantee) Annual report and financial statements for the j'ear ended 31 December 2022 Contents Page Truslees, annual report {incorporating the strategic report} Independenl auditor's report 15 statement of financial activities (incorporating the income and expenditure account) 18 Balance sheet 19 Slatament of Cash Flows 20 Notes to the financial statements 21
Belfast Central Mission (A compan)" limited by guarantee) Statement of Financial ActiN'ities (incorporating the incon]e and expenditure account) for the year ended 31 December 2022 Note Unrestricted funds Restricted funds Total funds 2022 Total funds 2021 Income from-. Donations and legacies Charitable activitie5 Other trading activities Inveslmenls Other Total income 206,461 4,162,823 37,024 14,402 2,229 4.422.939 489 2,995,928 206,950 7,158.751 37,024 14,402 2.379 7,419,506 360.187 5,597,777 31,341 8,937 37.558 6.035,800 150 2,996,567 Expenditure on: Raising funds Charitable activities Total oxpenditure 191,2131 (3,971,627) (3,146,738) (4,062,840) {3,146,738) (91,213 17,118,365) 17,209.578} (75.194) (5.887,038) 15,962,232) 9,10 Net lexpenditurellincome beforè galns on Investments 360,099 1150,1711 209.928 73,568 Net {108888llgalns on investments 186,1531 186,153) 102.061 Net income before transfers 12 273,946 1150,171 } 123,775 175,629 Transfer between funds 16 126,074) 26,074 Net movement in funds 247,872 1124,0971 123,775 175,629 Reconciliation of funds Total funds brought forward Total funds carried fotward 7,072,868 7,320,740 379,791 255,694 7,452,659 7,576,434 7.277,030 7,452,659 The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of comprehensive income has not been prepared, The Statement of Financial Activities lincorporaling the income and expenditure account) Is Included in note 5 to the financial statements for the prior year ended 31 Decèmber 2021. The note5 on pages 2110 33 fomi part of these financial statements 18
Belfast Central Mission (A company limited by guarantee) Balance sheet as at 31 December 2022 Note 2022 2021 Fixed assets Tangible assets Fixed asset investments 17 18 5,937,326 682,070 6 619.396 6,140,671 768,223 6 908,894 Current assets Debtors Cash at bank and in hand 19 671,331 1.054,962 1,726,293 192,198 2,666,534 2,858,732 Liabilities Creditors". amounls fallin Net current assets Total assets less current Ilabilities Creditors.. amounts falling due after rnore than one year Net assets due within one ear 20 769 255 957,038 7,576,434 2.314 967 543,765 7.452,659 7,576,434 7,452,659 The funds of the charltabl8 company Restricted incorne funds Unrestricted income funds Total funds 22 23 255,894 7.320,740 7,576,434 379,791 7,072.868 7.452,659 These financial statements were approved by the Trustees Bnd aulhorised for issue on 28 September 2023 and are signed on their b8half by.. Mr R Black (Chairperson) Dr D Gallagher (Hon Secretary) Company Registration Number.. N1055893 The notes on pages 21 to 33 form part of these financial statements 19
Belfast Central Mission (A compan), limited by guarantee) StAtement of cash flows for the year ended 31 December 2022 Note 2022 2021 Cash flows from operating activities Net cash rovided b / used in eratin activities 27 185.389 113.284 Cash flows from Investing activitles Dividends and interest from investments Proceeds from disposal of fixed assets Purchase of fixed assets Proceeds from disposal of investments Purchase of investments Net cash provid8d (used in) /by investing activities 14,402 8,937 109,027 (652,645} 750.000 753 8881 1538,5691 17 120.408) 16,006} Cash flows from financing activities Net Gash n)vided b / used in financin activities Change in cash and cash equivalents in the reporting period 1191.395) {425,2851 Cash and cash equivalents at the beginning of Ihe reporting -period Cash and cash equivalents at the end of the reportlng eriod 1246 357 1,671642 28 1054 962 1246.357 The notes on pages 21 to 33 form part of these financial statements 20
Belfast Central Mission (A company limited by guarantee) Charitable company status Belfast Central Mission is a charitable ¢x)mpany limited by guarantee, in(a)rporated in Northern Ireland. The registered Offi is located 21 Grosvenor House. 5 Glengall Street, Belfast, BT12 SAD. Accounting policies Basls of preparatlon The financial slatements have been prepared in accordance with the Charities Act {Northern Ireland) 2008. the Companies Act 2006, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) 8nd the Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charitl8s preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)). BCM meets the definition of a public benefrt entity under FRS 102. Assets and li8bilities are initially recognised at historical cost or transaction value unless otherwise staled in the relevant accounting policy note. The financial statements are presented in GBP Sterling, which is also the functional currency of the charitable company. Tangible fixed assets The cost of tangible fixed assets is their purchase cost, logeth8r with any incidental costs of aulsitIon. Depr8ciation Is calculated so as to write off the cost of tangible fixed assets, less their estimated residual values. on a slraight-line basis over the expected us8ful economic lives of the assets concerned. The principal 8nnual rates used are as follows: Propety 0-2.5 Fixtures and fittings 10&20 Office equipment Motor vehicles 10, 25 & 33e/. 25 Cash and cash equivalents Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from th8 date of aGquisilion and that are readily convertible to known amounts of cash with insignificant risk of change in value. In the Statement of cash flows, cash and cash equivalents ar8 shown nel ofbank overdrafts that are repayabl8 on demand and form an integral part of the ¢harity's cash management. Income Don8tionB and legacles that ar8 of a general nature are regnISed where there is evidence of entitlement, receipt is probable, and th8 amount can be measured with 6ufficient reliability. Gifts in kind are valued al a reasonable estimate of their value to Ihe charity. Gifts donated for resale are included as incom8 when they are sold. No amounts are indud8d in the financial st8tem8nts for s8rvices donated by volunteers. Incoming resources from grants where related to performance and specific deliverables are accounted for as the charity earns the right lo consideration by ils perfoan. Income received relating to future periods is included within deferred income. All income received arose in the UK. Expenditur8 All expenditure is ac¢ounted for on an accruals basis and has been cl8ssifi8d under headings that aggregate all costs related to the category. 21
Belfast Central Mission (.4 company limited by guarantee) Accounting policies (continued) Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiarfjes. It includes both costs that can be allocated directly to such activities and those cosls of ar) indirect nature necessary to support them. Total expenditure includes the allocation of support costs. Support costs are those functions Ih8t assist the work of Ihe charity but do not directly undertake charitable activities_ They include back office costs, finance. personnel. payroll and governance costs which support the charitable company's activities. Support costs have been allocated to activities on a basis consislent with the use of resources (e.g. time spent, number of slaff. estimated usage). Irrecoverable VAT Any irrecoverable VAT is charged to Ihe statement of financial activities, or capitalised as part of Ihe c05t of the related asset. vjhere appropriate. Foreign currencies Transactions in foreign currencies are recorded at the rate ruling at the d8le of the transaction. Recognition of liabilities Liabilities are recognised when an obligation arises to transfer economic benefits as a result of p8sI transactions or events. Fund accounting Geneial funds are unrestricted funds which are available for us8 al the di5¢rètion of the Trustees in furtherance of the general obieclives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted fur)ds Ihal have been set aside by the Tru5tèas for particular purposes. The aim and use of each designated fund is set out in Ihe notes to the financial slalements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. Investment income and gains are allocated to the appropriate fund Pension costs The charity operates a definéd contribution pension scheme. The assets ol the scheme are held separately from those of the charitable company in an ind8P8ndently managed fund. Contributions are charged to the statement of financial activities in the period to which they relate. Investments Investments are staled in the balance sheet al mafkel value as at the balance sheet dale. The statement of financial activities includes the nel gains or losses arising on revaluation and disposal throughout the year. Debtors Short term debtors are measured at transaction price: less provisions for bad debt. Creditors Creditors are recognised where the charitable company has a present obligation resulting from a past event that will probably resull in the transfer of funds lo a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are nomally recognised at tlitsir settlement amount. Operating lease agreements Rentals applicable to operatin9 leases where substantially all of Ihe benefits and risks of ownership remain with the lessor are charged against net incoming resources on a straight line basis over Ihe period of the lease. 22
Belfast Central Mission (A company limited by guarantee) Accounting policies (continued) Financial instruments The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Golng concem The directors have assessed that Belfast Central Mission has adequate resources to meet the ongoing Gosts of the entity for a minimum of 12 months from the dale of signing the finanGial statements. For this reason, the financial statements have been prepared on a going concern basis which presumes th8 realisation of assets and liabilitl8s in the nom81 course of busin8SS. Significant judgements and estimates In the Trustees, opinions, there are no significant judgements, estimates and assumptions made 8bout thè recognition of assets, liabilities, Income and expenses other than those outlined in Ihe accounting policies above. Taxation The charity is entitled to certain tax exemptions on income and profits from investments, and surpluses on any trading activitles carried on in furtherance of the charitys primary obj8clive$. The charity has partial exemption from VAT and expendrture Is recorded 8¢cordingly. ststement of Financlal Activities (incorporating the income and expendlture account) for the year ended 31 December 2021 Unrestricted funds Restricted funds Total funds 2021 Income from: Donations and legaciès Charitsble activities Other tr8ding acllvltles Investm8nts Other Total Income 169,374 2,522,057 31,341 8.937 34,245 2,765,954 190,813 3,075,720 360,187 5.597,777 31.341 8,937 37,558 6.035.800 3,313 3,289,846 Expenditure on: Raising funds Charitable activities Total expenditure (75,1941 {2,750.700) (2,825,894> (75,194> {5,887.038) (5,962,232) (3,136,338} {3,136,338) Net gains on investments (59,940) 102.061 133,508 73,568 102.061 Net Income before transfers 42,121 133,508 175,629 Transfer between funds 133,511 {133,511) Net movement in funds 175,632 (3} 175,629 Reconclllation of funds Total tunds brought forward TotAI fun(ts &?rried forward 6.897.236 7,072,868 379,794 379,791 7.277.030 7.452.659 23
Belfast Central Mission (A compani, limited b): guarantee) Income from donations and legacies Unrestricted funds Restricted funds Totsl funds 2022 £ Total funds 2021 Donations 68,622 35,700 489 69,111 35,700 102,139 179,965 49,614 Appeals Legacies 102.139 130,608 206,461 489 206,950 360.187 Income from charitsble activities Unrestricted funds Restricted fund5 Total fund5 2022 Total funds 2021 Charitable trusts 63,156 63,156 2,648,885 3,404,546 178,236 18,694 13,812 54,298 Housing Executive R8sidential rents 581,270 2,655,649 128,262 18,694 10,470 705,322 4,162,823 2,067,615 1,935.906 2.644.840 748,897 Health & Social Care Trusts 49,974 333.423 Congregational Training Other sources 29,764 9.720 3,342 126,100 2,995.928 831,422 7,158,751 589,826 5,597,777 Income from investments Unrestrioted funds Total funds 2022 Total fijnds 2021 Dividends 9.762 9,762 4,667 4,270 8.937 Bank inleresl 4,640 14,402 4,640 Resources expended on charitsble activities by activity type Staff costs Other costs Depreciation Total funds 2022 Total funds 2021 Operating expenses Financing expenses Society expenses 5,471,240 1.337,600 29,196 6,159 1,372,9S5 223,554 7,032,394 29,196 56,775 5.808,115 26,852 50.616 52.071 5,521.856 223,554 7,118,365 5.887.038 24
Belfast Central Mission (A company limited by guarantee) 10 Resources expended on charitable activities by fund type Restricted funds Unrestricted funds Total funds 2022 Total lunds 2021 Operating expenses Financing expens8S Society expens8s 3,890,562 24,290 56,775 3,971,627 3,141,832 4,906 7,032.394 29,196 56,775 5,808.115 26.852 52,071 5,887.038 3,146,738 7,118,365 11 Financing costs Unrestricted funds Restricted funds Total funds 2022 Total funds 2021 Interest payable and similar charges On bank overdrafts 24,290 4.906 29,196 26.852 12 Net income before transfers 2022 2021 This is staled after charging.. Staff pension contributions Depreciation - charg8 for year (Profit)Iloss on disposal of fixed assets Auditors, fee8 191,906 223,754 160,712 184,137 (108,150) Audit work 6,137 Non-audit services 5,688 13 Analysis of staff costs, Trustee remuneration and expenses, and the cost of key management personnèl 2022 2021 Stsff costs Wages and salaries Social securlty costs Pension costs 4,596,634 3,940,412 320,566 402,063 191.906 5,190,603 160,712 4,421,690 25
Belfast Central Mission (A eompany limited b)" guarantee) 13 Analysis of staff costs, Trustee remuneration and expenses, and the cost of key management personnel (continued) Trustee remuneration and benefits amounted lo £62.178 (2021.. £64.5011 for the year: being rernuneration of £54.041 12021.. £51.9061. other benefits of £69 12021.. £4,726 ) and pension contributions of £8,068 {2021'. £7.868). These emoluments received by Reverend David Campton were in respect of his capacity as Superintendent of Belfasl Central Mission and minister of the Grosvenor Hall congregation and not in his capacity a5 Trustee. The Trustee also received manse accommodalion that is iypical of such roles. No trustee expenses were paid (2021 nil) for the year. No Trustees received paymenls for the supply of ministerial and organist seNices (2021 nil). The key management personnel of the chatitable company comprise the Trustees, +he Superintendent. the Chief Executive. the Deputy Chief Executive, Head of Finance & Business Support, Interim Senior Finance Manager, Head of Community Service, He3d of Residential Service5. Head of People & Organisational Deve.lopment and Head of Estates & Facilities. The total employee benefits ol the key management personnel of the charitable company were £554.505 {2021-. £425.836}. One employee received employee benefits (excluding employer pension costs) for the reporting period of between £70,000 gnd £79,999 {2021.. One employee between £70.000 and £79.999). 14 Staff numbers The charitable company report5 that the average head count (number of staff employed) during the reporting period was 251 (2021- 251). These can be analysed by projecl type as follows: 2022 Number 2021 N(Jmber Social & support projects Care projecls Management & central administration 122 131 104 89 25 31 251 251 15 Pensions The charitable company operates a defined contribution pension scheme in respect of the staff. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the charitable company and amounted to £191,90612021.. £160,712) ofwhich £28.929(2021.. £26,077) was outstanding at year end. 26
Belfast Central Mission (A company limited by guarantee) 16 Transfers between funds 2022 2021 Unrestricted income funds General funds From Restricted income funds (ro)lfrom Designated funds {26,074} 133,511 {51,6621 81,849 (26,074) Desi nated funds Froml(to) General funds From Restricted income funds 51,662 Movement in Unrestricted income funds 133 511 R88tricted Income funds (ro) General funds Movement In Re8trl¢ted Income fund8 26,074 26,074 (133,511) (133.511) The net transfer of1£26,074) from unrestricted income reserves to restricted income reseeS is made up of.. Transfers of1£131 ,651) from unrestricted to restricted reserves in respect of net financial deficits in supported housing projects. and Transfers of £105,577 from restricted to unrestricted reserves for projects where a funding restriction no longer applies. 27
Belfast Central Mission (A compani. limited b!: guarantee) 17 Tangible fixed assets Long leasehold property Freehold property Fixtures and fittings Office equipment Motor vehicles Total Cost Al 1 January 2022 Additions 8,748,149 75.000 801,875 16.800 394,718 11,912 8.031,654 20,4CI8 3,608 Disposals At 31 December 2022 6,748.149 818,675 398,326 11.912 8.052,062 Depreciation Al 1 Janu8ry 2022 Charge for year On disposals 1,058.316 140,722 508,551 313,556 10.560 1.890,983 223, 754 44,415 37.265 1.352 At 31 De¢ember 2022 1,199,038 552,966 350,821 11,912 2,114,736 Net Book Value At 31 Decembèr 2022 5,549,111 75,000 265,710 47,504 5,937,326 At 31 December 2021 5,689,833 75,000 293,324 81.182 1,352 6,140.671 28
Belfast Central Mission (A company limited by guarantee) 18 Fixed asset investments Securities 2022 2021 Movement in market value Market value at 1 January 2022 Additions in year Disposals in year Net g8insl(losses) on revaluations in the year. - own investments 768,223 768,223 665.657 (84,049) {2.104} 682,070 {84,0491 {2,1041 882,070 102,061 505 investrnents held on behalf of other churches Marketvalue at 31 December 2022 768.223 Historl¢al cost 233,910 233,910 233,910 Analy8ed by Unlisted securities 682,070 682,070 682,070 682,070 768,223 768,223 Analysls of Investments at 31 December 2022 between funds Unrestrlcted funds 2022 Restricted funds 2022 Total Funds 2022 Total Funds 2021 Sècurities 680,327 680,327 1.743 682,070 682,070 768,223 1,743 768,223 All investmen15 are UK investments, 19 Debtors 2022 2021 Amounts fallin Trade debtors due within one ear 84.645 51,985 4,283 135,746 Other debtors 4,422 581,531 733 Prepayments and 8ccrued income Amounts due from related party 671,331 192.198 An impaiment loss of £14,208 (2021: £5.003) was recognised against tr8de debtors. 29
Belfast Central Mission (-4 company limited by guarantee) 20 Creditors: amounts falling due within one year 2022 2021 Bank overdraft 1.420,4 77 194546 Trade Creditors 204,808 85,491 210,059 268,897 769,255 Taxation and social security cosls Other creditors 81,983 141,531 476,730 2,314.967 Accruals and deferred income Accruals and deferred income include deferred grants amounting lo £183,960 (2021.. £219.103). 21 Commitments under operating leases At 31 December 2022 th8 charitable company had fulur8 minimuTr. lease payments under non-cancellable operaling leases as follows.. 2022 2021 Not later than 1 year Later than 1 year and not later than 5 years 30
Belfast Central Mission (A company limited by guarantee) 22 Restricted income funds Transfers. Investment gainsl(losses) Balance at 1 Jan 2022 Incoming resources Resources expended Balance at 31 Dec 2022 Quayside 88,816 188,816} Supported Housing Projects (21,627) 1,640,203 (1,810,661) 170,458 {21,627) Kirk House - SNMA (68,508) (68,508) Communty SeNi¢es 10,903 (10.903) Floating Support for Young People Dungannon 72,047 330,617 {312,459) 118,158) 72,047 Floating Support for Young People Ards 43,043 228,320 (223.058> {5,262) 43,043 Floatlng Support for Older Peop18 Belfast 124.014 474,411 (459.024) (15,387) 124,014 Floating Support for Older People Dungannon 125,245 323,016 (341,536) 106,725 Parent Support, Dungannon 4,891 {4,8911 Christian Faith Projects 967 (967) 379,791 2,996,587 (3,146,738) 26,074 255,694 Within the figures for reslricled funds is funding from Supporting People for eight supported houslng and floating support projects and our residential home, Kirk House. This fund has mov8d as follows over the year- Balanc8 at 1 Jan 2022 Tran8f8r8, Invè8tment galnsll1088e8) Incomlng resour¢e8 Resourceg axpgnded Balanca at 31 Dec 2022 Supporting People 274,214 2,996,567 (3,146,738) 131,651 255,694 31
Belfast Central Mission (A company limited by guarantee) 23 U nrestricted income funds Balance at 1 Jan 2022 Incoming resources Resources Investment expended gainsl{losses) Balance at 31 Dec 2022 Transfers Designated funds General funds 97,544 6.975.324 97,544 4.422,939 {4,062.8401 (86,1531 {86,1531 126,074) (26,074} 7,223,196 7.072,868 4.422.939 {4.062,840) 7,320,740 Designa18d funds represent funds set aside for the coniinued development of our Copelands project (a housing scheme for olde-, people). General funds are amounts vihich are available for use at the discretion of the Trustees in furtherance of the general charitable objectives of the charitable company. 24 Analysis of net assets between funds Tangible fixed assets Net current assets Long term liabilitie8 Investments Total Restricted Income funds 255,694 255,694 Unrestricted income funds.. Designated funds General funds Total funds 97,544 603.800 957,038 97,544 7,223,196 7,576,434 5,937,326 5,937.326 682,070 682.070 25 Related party transactions At the period end an amount of £6,184 {2021'. £6,184) is owing lo Belfast Central Mission by BCM Services Limiled against which a provision of £6:000 has been made. BCM Services Limit8d has a total of three directors: all of whom are also directors of B&lfast Central Mission. 26 Company limited by guarantee Every Trustee promises. If the charitable company is dissolved while such person remains a Trustee Of within 12 months afteNards. to pay up to £1 towards the costs of dissolution and the liabilities incurred by the charitsble company while the contribulor was a Trustee. 32
Belfast Central Mission (A company limited by guarantee) 27 Reconciliation of net income to net cash flow from operating activities 2022 2021 Net incornel(expendilure) for the reporting period (as per the statement of financial aclivilies) Adjustments for: Depreciation charges (Gains)nosses on investments Dividends and interest from investments Lossl{profit) on the sale of fixed assets (Increase)Idecrease in debtors Increasel decrease in creditors Net cash rovided b / used in 123.775 175,629 223,754 86,153 (14,402) 184,137 (102,586) (8,93n (108,150) 29.608 1479,1331 125 536 185389 eratin activities 113284 28 Analysis of cash and cash equivalents 2022 2021 Cash in hand Notice deposits (less than 3 months) Overdraft facilit a able on demand Totsl cash and ca8h ulvalentg 12,594 1,042,368 7,507 2,659,027 1420 177 1246 357 1054 962 33