Coracle Christian Fellowship NOTES TO THE ACCOUNTS 5 April 2024 ACCOUNTING POLICIES BASIS OF FINANCIAL STATEMENTS As the total income of the fellowship is less than £250,000 the congregation have elected in accordance with the provisions in The Charities (Accounts and Reports Regulations (Northern Ireland) 2015 to prepare its accounts on a receipts and payments basis. FUND ACCOUNTING Endowment funds are fund5, the capital of which must be retained either permanently or at the fellowship's discretion; the income derived from the endowment is to be used either as restricted or unrestricted income funds depending upon the purpose for which the endowment was established in the first place. Restricted fund5 comprise la) 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 funds have unspent balances, interest on their pooled investment is apportioned to the individual funds on an average balance basis. Unrestricted funds are income funds which are to be spent on the fellowship's general purposes. Designated funds are general funds set aside by the fellowship for use in the future. DONATIONS AND LEGACIES Unrestricted Funds Restrlcted Funds Endowment Funds Total 2024 Total 2023 Recorded giving: Donations and gifts Gift Aid 15,563 15,563 15,597 3,551 3,613 3,613 19,176 19,176 19,148
Coracle Christian Fellowship NOTES TO THE ACCOUNTS (cont'd) 5 April 2024 CHARITABLE ACTIVITIES Unrestricted Funds Restrirted Funds Endowment Funds Total 2024 Total 2023 Ministry staff costs Fellowship running expenses Donations to Missions and charities 10,836 2,640 3,915 10,836 2,640 3,915 10,236 4,439 5,880 17,391 17,391 20,555 FUND BALANCES Fund Balance at start Recelpts Payments Surplus / {Deficit) Transfer Balance at end Unrestricted Funds General Fund 10,606 19,176 17,390 1,785 12,391 10,606 19,176 17,390 1,785 12,391 io