Charity rcgislralion numbei-:NIC102050 Glenabbey Church Annual Report and FinaD¢ial Statements for thc Year Ended 30 June 2024
Glenabbey Church Contents Trustees, Rcport I to5 Siatement of Trustccs, Responsibilities Independent Auditoi"s' Report 7t0 10 Siatemenl of Financial Activities Balance Sheet 12 NoTes lo the Financial Statements 131025
Glenabbey Church Trustees, Report The Tiustees pi'e5ent their repoit and the financial statenienls of the church for the yeai- cnded 30 June 2024. The Trustces confiiTn that they ¢oinply wiih the r¢qiiii"emenis of thc Cliarities Act (Nortlicrn Ireland) 2008. The Cliaiitie5 (Ani)ual Remiii) Regulaiioi)8 (Noi'iliern Ti'eland) 2015. The Chariiies IAI)iiual Retuiii) Regulatioii. (Noi'tliern Ii'eland) 2015 and Aecoiinting find Reportii)g by Charities.. Slateiiienl of Reconiinended Pi'aciice whicli applies to charities pi'epariiig tlicir Accounts in ac¢oÈ'daiice with the Finaiicial Repoi'ttiig Stalldald applicablc in Il)e UK aiid Republic of Irelaiid (FRS 102) Icffcctive l Jai)Ury 2015). The Tyustees Tlie Trllstees who served Ilie cl)urcli during Ilie year were as follows.. David Currie laiti Johiiston Maik Joiies Gai'ih McCai1ney Marlin Spence Jan Thonipson David cU]e (I"esigned 30 June 2024) Strueture, Goi'ernanee & Maiiagemenl Glenabbey Chiii'ch is govellied by a Tiiisl Deed adopted on 13 Febiwary 1992. Tlic Tn]stees are respon5iblc for tl)e ovcrall goveriiaiice of Ilie cl)ui'cli. Tlie nu111b. of Tiiistce5 shall iiot bc Icss tliau I1ee, nor n]ore tl)an seven. Trustee Selection, Appointment & Competence When a Tiustee vacaT)cy exists, the cun'cni Tiustees will appoint a ieplacement oi. additional Trustce. No pei'son sl)all be appointed as a Trustee who does not hold the basic doctrines of faith as specified ITJ Ilie Trust Dccd. External Audit At Ilie Tiuslees, Mecting on 21 May 2024, MBS Chai't¢i'ed Accountants wci'e appoint¢d as external auditors for tlie peiiud l Jllly 2023 to 30 June 2024. Statement of Compliaiice Ivitli Public Benefit Guidance In s¢tting oui. acliiiitics and i)lanning our activitics foi. the ycai. thc trustecs havc given care] considei'atioii to the Cliaiity Cominission for Noi"Ihern Ii'cland's guidaiicc on public bcncfit lo ensiirc Iliat Ilie activities have helped to a¢hieiTe rhe cl)aiity's puiposes and proiiide a beiiefst co rhe beiieficiaiies. Plli-p05es The pui.pose of Iliis TIu51 sliall be as lollows.. To pro¢lairn and furilier tlie Gospel of God conceimiiig liis Son Jesus Clirist, our Lord aiid Il)e pi'eacl)ing and teacliing of Ilic Cl)iistian Faith throughout thc Uv)ited Kingdom of Gi'eic t Britain aiid Nortlicrn li'eland and clsewlici'e. To oigaiiise, spoi)soi' ai)d proniole Ilie advanceinei)t of tlie Chi-istiki) I'eligioji Iliroiiglioiil tlie Ui)ited Kiiigdom of Great Bi'ilaiii and Noi'iliern li'elaiid and elseM,liei"e tl)e object of wliicli sliall be.. i) To 5e¢l< to pi'eseiit the Gosp¢l lo every creatiire by evely iiitaiis i)ossible and lead 11)en woinen aJ)d cliildieu to a saviiig Faitli iii oiir Loi'd Jesus Clirisl and teacli and ei)coui'agc thein in tlie Service of God. ii) To producc i)iibli.s1i and distribute tl)e Scripttii'es. Cl)rislian Lilerattji'e, audio-visual aids, filiiis and aiiy oiliei. Iiilc lerial of a I'eligiou5 natui'e, provided tliat tlie Trustees sliall not cngage in any peiimanent trading activity- iii) To aid Ilie Cl)iistian Chui'cli in all its Inllllstiies by specialist S¢lVlGes whereby the Wol'd of God is pi'cscnted so Iliat thosc to whoin it is pi'esented Inay be led to pei'soiial faith iii the Loi'd Jcsus Chi'ist aiid illay be encoiii'aged ai)d iii%knucted lil the developinent of Christiaii cl)ai'actei' aiid iiiay lake Ilieii. place as Inenibei's ai)d woi'kei's iii the life of their local Cliiii'ch. iv) To pi-oinole thouglitful Bible i'eadii)g aniong people of all ages. Pagc I
Glenabbey Church Trustees, Report (continued) To hold publi¢ meclings for the pi'caching of IFse Gospel of the Grace of God and for the fellowship and cdification of Cl)ristians. To assist in the relief of human suffering and poverty consequent upon the effect of personal, local national or internatiot)al disaster. Tlieie is no harm as50cialrd with the purposes. Summary ot. Aetivities Sunday servi¢es Sunday childrcn's programTnes Weekly pi'ograTnmes for bible teaching, SdY and praycr . Tuesday night youth programmes Friday night youth and children'5 programmes . Coll)mw)ity programmes Missions support groups Suttmer cainps foi. childreT) And youth SuTnmer trips nationally and internationally Poverty rclicf and humanitaiian trips Monthly club for adults with learning difficultics Provision of ci'cche facilities Pai-ent and toddler group Rcllew (Mums, fitncss class) . Monday Club (friendship grollp for over 50's) Holiday Bible Club Beneficiaries The charity's beneficiarics arc: The regular all¢ndees of all ages al weekly evcnts rutt in its OMI premise5 in Newiowuabbey &lld at other locations in Couiity Atliiim. People fi'om many countrics who access the Biblc teaching via the Inteimel. Hundrcds of childicn, young people and adults that 81"c assisted financially, pastoi'ally, physically and spiritually through the Chaiity's pailnerships. The poor and disadvai)taged, especially ii) Ethiopia, Keiiya, Chad alld Ecuador, who al'e reAched in person by teams sent out each year as well as eiijoying financial support. Local young people aT]d adults with learning difficulties. Private benefit The only private benefit arising in the period was thc remuneration of Ihosc cmployed to managc thc charity. This beiicfit is incideiital to aiid does not outweigh che public benef)t. Publi¢ bcnefit During the period, tlie Charity has continued to provide bcnefils from ils activities as follows: Pagc 2
Glenabbey Chui'ch Trustees, Report (continued) Tlie provisioll of a Christian and niora5 framework encoui'aging people to engage positively with the culture around tlieni and to care foi. thcir fellow human b¢ings. Deepening undei'standing of liow tlic Bible spcaks to conteinporaiy culre aiid guidaiice as to liow Cliiistiaiis cali malce a positive conhibutioii to tlie peace aiid prosperity of the wider comi)iiiiiity. The piovision of regulai. Chi'istian ¢diication. helping pcople to iii)dei'staiid, live out, defei)d and pron)ote tl)e Cl)ristian gospel. The development of iiidividiial ability and gift. Tlie eJ)gagcineiit ]d encourageillenl of liiindreds of willing volullteers lli practical and spiritual service to their fellow liuman beiiigs. The spread of the Gospel of peace, bringing i'econcilialioD botli between liumat] beings and God and bchveen liuiiian beings. Tlie proimolioii of tlie iTnportanct of facilitation of lioncst discussion and exaininali011 of Ilic Chiistian faith i comparison wilh oihei. value systems. The pi-ovisioii of Bible teachiiig resoui'ces li) aiidio, audio-visual aiid written fortn that al'e used locally 2nd iiiteiiialioi)ally. The oi'ganisatioii of confei'eiices and special events to beiiefit otbei. cliurclies aiid individuals. The t11nning of specialist Iralliing pi'ogramjnes for leaders and paiticipaiits. Tlie encoui'ageTnenl of deeper knowledge and undei'standing of tl)e Clirislian faitli and its I'elevance to contcimporaiy 50cicty. Tlie ¢n¢oui'agenient of pcople gatliei'ing togetlier for coiiin)on purpose, developing fi"iendships aT)d pi'oviding help and suppoil to one anothci.. The ci'tation of a safc placc foi. ptoplc fi'om all walks of sociery to hear about, exploi-e 8iid discuss the Chiistian faith. Significant PT8Ctical i-elief delivered by expeits (o those wlio urgently need it. The support of individiials within oui. owll coiiunuiiity who have suffered pliysical and / oi" fii)arncial i'cveiEal. Tlie eiicoura(yemeLI1 of all OUtW"d eilios of generous and practical compassloii. Tlie5e benefits are denionstrated lIOUgh.. Those attending and bcnefiling directly eacli week, tlie leaders and Iielpers iiiobiliscd eacl) week Ihrougl) vai'ious progi'amines and tlie positivc eontributions of nieinbers within tlie widei. community and Ilie effective pastoral care supporting both families and individuals the I'csour¢e5 already pi'oduccd and in wide llse, i.e11ar tt'aining and pei'sonal dcvclopment piogrammes. active use of the ii)teiiiet. app and social Inedia and high levels of finallcidl aiid pei'soiial investiiieiit in the piogi"an)nies - lai-ge iiiinibei- of alteiidces at Siiiiday services, tl)e iiuinbei. i'cinaining aftei. seivices to talk aiid intei'act liid the quality ¥LDd quaiility of tliese discussiolls alld tlie nui]]bei- of sceptlCS attciidiiig. Ttse geiierous ainouiils of financial provision foi. the needs of vulnerable people IJ) Cliad, Bu11rJa, Etilladol and Etliiopia and Kellya, and suppoil for IoLal people iii fillan¢idl distress or Pdl"licular Jjeed. Tlie pi"ovision of laii¥u2Ee classes, opporfunity for social interaction and caFC lo i)eople froin a l'ange of Countries seeking asylum in our countiy. Thei"e are no I"esthiction5 01] those wl)o cai) bencfil fiom the aclivilie5 of Gleiiabbey. FinAnciMI Revieiv and Results for the Year Tlie Cliai'ity's iiicoinllig iecoiii'se for the year aniounted lo £684.797 (2023.. £685,615)- Pi'illcipal sources of rundujg are fi'oiii doiialioiis. The oulgoing expelldilui"e lor Ilje ycar amouiited lo £696,56312023.. £632,404). Tlie net oiitgoings foi. tlie yeai. aiiioullted to £11,766 (2023.. illcoixing £53.211). Acliievemenls and performance for the yeai. Systen)atic leaching of the BibSc ivas l)eld on a weekly basis throiighoiil the ycai" botli thi'oiigli seiviccs iii Glenabbey Cliurch ai)d onliiie. Oui. oiiliiie pi'ovisioii coiitiiiues to bei)cfil those menibeis who caniiot atteiid in pei'soii aiid otliei's fi.oin all ai'ound the world, A sli'ong progi'amnie of activities was iiiade availablc 10 childi'eii alld youiig people lo sli'eiigtlieii theii. faith. We conlii)ue to be designaied uiider the Safe Churcl? Jnitiative. Diiring the year we pi'ovided financial support lo Cliri5tian woi'liers iii Ecuador, Zainbia, Scotland, Bulgaiia and Ii'eland. Fisi#iici21 siippoit has 8150 coniiniied of ovei'seas chArities ivorlcii)g to I'elieve poveity and siiffeiing iii Ethiopia and ILeiiya. Pagc 3
Glenabbey Church Trustees, Report (contxnued) Our own Barnabas Fund, which was set up lo help those in particulir financial nccd, has becn activ¢ during this year and has responded swiftly where financial need has been idcntificd. We are 2 membei. church of Welcome Churches, a network which welcomes and supports ihose who have Iravclled from across the world to oui. locality, many of whom have fled war, persceution and faminc. A .8UPPOrt group for pareuls and carets of cbildrcn ivith neuro-diverse conditions continues lo meet. Partnership with and support of Ilic following has eontinucd.. Greater Ballyclare Youth for Christ Monkstown Village Initiatives Christian5 in Sport PaTeThls and Kids Together, CaiTickfergus Street Pastors Active Lislcning Model Railway Club Hopc 365 Christians Against Poverty . Newtownabbey Foodbank Causeway . Home foi. Good Prison Felloivship Ti'ansfoming Lives for Good . Welcom¢ Churches . SPARK .TlO Safc Chw'ches Plans for the future It is thc Intention of the Irnstees to Continuc the cutTent activities of the Ghatity and cxpand and dcvclop these as they see fil to achievc the purposcs of the chaiity and lo cnsure the continued deliveiy of public benefil as dcsciibed els6where in this report. Risk Management Risk is an everyday part of the Charity's normal activity. The Trustees haiie considei-ed and idciilified the major risks lo which the chai'ity is exposed and having taken appropriate professional advice have been assured that adequate system5 and procedui'es al'e in place to mitigate oi. manag¢ those risk5. Reserves Poliey Tlie Trnstees l)ave established & policy whereby thc unresli'ictcd fvnds not committed OT invested in tangible fixcd a55¢1s ('thc frc¢ I"escrvcs') held by the charity should amount to bctwccn 2 and 6 months woitli of thc I"csourcts cxpended which equatcs to bctWeCT) £107,539 gnd £322,617 in genci'al funds. At this level, the Trustees feel that they would be able lo contiiiuc the cuii'eiit acllvlties of the chaiity in the evei)t of a significat)I di.op in fid]i]g? howevei. it woiild obviously be ne¢essaiy lo consider how the fiinding woiild br i'eplaeed or activities chaiiged. At present tbe fl'ee reserves (wliich exclude designated funds), ainounl to £364,053 and in linc widi tlie Tiustees, targei fzLnge. The TiYstees continue lo work towards inainlaiDing their frec i"eserves target. Pensions P&ge 4
Glenabbey Church Trustees, Report (continued) The charity opcl'ates a defined conh'ibution pension schcine (which meets the i'¢quii'einenls of The Pension Rcgulatoi" as a qiialifying woi'kplacc pension scheine) for thc benefit of ils peiinanent Staff and tliose who are eligible uiidei. Auto Fiiiolimeiil. The assel.% are admiiiistercd by in%ui'ance coiiipailies in pei'.qoiial pei)sioii pla115 and al'e held independeiltly fron) tliose of the ¢h21'ity. Conti'ibiilioi)s al'e ch81.ged lo the Stalemei)t of Fiiiaiicial Activities ill Il)e pei'iod lo wliich tl)ey i'elate. Results Tlie I'esiilts foi" tl)e year and tlie c1131'ity's finaFJei21 position at the end of the year are shown in 11)e allaclied financial slatenienls. Reference and Administrative Details Charity Registration Number NICI 02050 Principal Office.. Ballyci'aigy Road Newtownabbey Co Ilnti'llll BT36 5ZZ Auditor.. MBS Chartered Accoun131$ ch1<1"¢d Accountants & Registered Audiloi. 3 Higli Slreel Laiiie Co Antrim BT40 1 TN Disclosure of information to auditor Eacli trustee l)as taken steps tlial Iliey ought to liave taken as a Irustee in order to 11]akc Il)ein5elves aware of any relevant audit iiiformation and to establish that the eharity'g auditoi. is aware of Illat infoiination. The lisleeS COT)finn that their is no relevanl infoniiation tlial they know of and of which they know the aiiditoi- is unawai'e. The anniial repoi% was appi-oved by Ilie hiistees of the chariry on 19 Dc¢ember 2024 and signed oli its belialf by= aiii Joknislon Trustee Gai"Ih Mccarlney Trustee Page 5
Glenabbey Church Statement of Trustees, Responsibilities Th¢ trustees ai"e responsible for pr¢paring the tsustecs, I'eport and the financial statemcnts in accordancc with the United KingdoTn Ac¢ounting Standai'ds (Unitcd Ki7Jgdom GeDei'ally A¢ccpt¢d Accounting Practice) and applicable law and regulatioiis. The law applicable to chaiities I'eqllire5 the trustecs to pi'epai'c financial statements foi- each financial year which give a true and fair view of the state of affairs of thc charity and of the in¢oming resources and application of resources of the charity for that period. In preparing thcse fmancial stalemenls, the Irust¢es arc requii.cd lo.. select suitable accounting policies and then apply them consistently. observe the methods and priiiciplcs in the Charities SORP; make judgements and estimates Ibat are reasonable 2nd pnjdcnt., slatc whethcr applicable accountillg standards have bcen followed, Subject to any material depaitsres disclosed and cxplained in the financial slalemenls. and prepare the fll)2ncial statements on the going concern basis Ullle55 it is inappropriaie to presume that tlie chai'ity will ¢onlinue iu business. The trustecs are responsible for keeping proper accounting records that disclose with reasonable ac¢'aCY at any time the financial position of the charity and enable thcm lo cnsurc that the financial stalcmenls coTnply with thc Charitics Act 2011, the Charities (Accounts and Repoit5) Regulations 2008, and the provisions of the constitution. The trustees al'e also i"esponsiblc for safeguarding the assets of the chatity and hence for taking reasonable steps for the prevention and detection of fi'aud and other iiTegularilies. The trustecs arc responsible for thc maintenance and inlcgrity of the corporate and financial infonnatioll includcd on the ¢hai'il&ble company's website. Legislation goveming the preparation aiid disseininalion of financial statement5 may diffei. fi'om legislation ill other jurisdi¢liollS. Approv by tbe trustees of the cl)arity on 19 December 2024 2nd signed on ils beh#lf by-. in JO]s1On Trustee rth Mccaitncy Trustec Pagc 6
Glenabbey Church Independent Avditor's Report to the Members of Glenabbey Church Opinion We havc audited tl)c fu]ancial slalements of Glcnabbey Cliurch (the 'charity') for the year ended 30 Jun¢ 2024, wliicli comprise the Statcmei)t of Financial Aclivilies, Balaiice Slieet, aiid Notes lo tlie Financial Siateiiienl5, incliiding a siiininaiy of significant accounting policies. Tl)e financial I"eporling fi'aiiiewoi-k tl)at has been applied in tlieii. pi"epai2tion is Ulliled Kingdoni Accounting Standai-ds, compi-iSiTJg Chaiilies SORP FRS 102 'The Financial Rcpoiting Stai)dai'd applicable in tlie UK and Repiiblic of Trelaiid, and applicable law Iuiiited Kingdoin Geiierally Accepted Aceouiiiiiig Pi"aclice). 111 our opii)ion the fii)an¢i81 statenieiits.. give a ttue and fair view of tlie stale of tlie charity's affairs as al 30 June 2024 aiid of its incoining I'esou*ces and applicatioii of I'esoiii'ces foi. tlie year Ilien erLdcd,. havc been properly prepai'ed in accordaiice with UEiiEed Kingdoin Genei'ally Acccplcd Accoullting Pi'actice- aJ)d liave been pi'epai'ed in accoi'da]Jce witl) the i'equiremeiits of the Cliaiilie5 Act (Noi'tliern Ireland) 2008. Basis for opinion We coiiducted our aiidii in 2ccordan¢e with Inleinational St8ndards on Auditing {UKI OSAS IUK)) and applicable law. Oui. I'espoiisibililies Diider Ihose standards ale ftiirthei" described iii tlie audi(0i' responsibilities for tl)e audit of tlie fiiiai)cial statemeiits sectioi) of our i'epoi't. We al'e illdependenl of the cbaiity im accoLdau¢e with t])e ethical requii-elliejjts tli&t -e relevant to ouL' audit of the fillaiicial statements iii the UK, llicluding tlie FRC'S Ethical stalldd, aud ive have fulfilled oui- other etliical rcsponsibilitics in accordance witli these rcquitemenls. We believe that thc audit evidence we have obtained is sufficient and appropriate to pi'ovide a basis for our opinion. Con¢lusion5 relating to golng concern In auditing Ilic financial statcincnls, we Iiave concluded Ihar ilie tiustecs use of tl)c going Concern basis of aCCOilT]ting in the PTeparation of the financial statements is appi'opi'iate. Based on the work we haiie peifoiThed, we have iiot identified any material un¢ei1ainties I'elaling to events or conditions that, ii)dividually or collectively, may cast Si11f1c2I)t doubt 011 tl)e charity's ability to coijliiiiie as a goiiig ¢oi)cein for a pei'iod of al least Nvelve moiitl)s fron) whei) thc oi'igillal finaiicial statcnients wci'e aiiihoi'ised foi. issue. Oiu. i'espoiisibilities and tlie responsibilities of ibe tIUStees witli respect to goiiig conceii] ait desci-ibed iii Iliè ielevallt sectioi)s of tliis i'eporl. Other inlormation Tl)e tnislces ai'c respoiisiblc for tl)e oilici. iiifoi'i))atioii. Tlie othei. iiifoniiation coiiipi-ises Il)e iiifoi-iiialioii iiicliided iii the aiinual I'epoit, otliei. Ilian Ilie fii)aiicial stateinenis 2nd oui- auditoi-'s I'epoit Ihereon. Our opii)ioi) on tlie fiiianci81 stateineiils does iiol cover Ilie otliei. infoijiiation aiid, except to Ilie exteiit otlieiwise explicitly stated in our I'epoi'l, we do not express a]iy for]ll of assujance conclusioii Iheieon. In coiuicclion widi our audit of Ilie flliancial statcineDls, our responsibility is lo l.ead the oilier itLfoiinalion aiid, iii doing so, CoiJsidei' wlieiliei. tlie oil)ci- infonnation is In3tei'ially incoiisislenl will) tlie finaiicial siatei)ienls oi. our kiiowledge obtained iii the audit oi. oihenvise Ic ppeai"s lo be Inatei-ially i))isslal¢d. If we ideiilify 5u¢li nialei'ial inconsistencies oi. #ppai-ent Inatcrial Ini8sl¢ilcTnents, we asc I'eqiiii'ed lo deteiniine wliether thei'e is a Tnaleiial Inisstatement in Ihc fiiian¢ial stalenienls 01. a malei.ial iiiisstateinent of tlic oihei. infoiThalion. Tf. based oli the woi'k we havc pei'fonned. we coiiclude tliai thei'e is a n)atei'ial niisslateimeiit of tl)is orhei. infoniiitioii, we al'e I'eqiiii'ed lo I'epoi'l tliat fact. Wc Iiave i)otliii)g to I'eport ill this regard. Pagc 7
Glenabbey Church Independent Auditor's Report to the Members of Glenabbey Church (continued) Mattel's on Ivhich Ive are reqllired to report by exception In thc light of our knowledge and underslanding of the charity and its environment obiaincd in the cowse of thc audit, Ive have not ideniified material missialemcnls in the Tn]slces' Report. We liavc nothing to report in i-espect of thc following matters where the Chai'ilies Act (Norihem Ireland) 2008 requiies us lo report lo you if, in ollr opinion.. adequate accounting records have not bccn kcpt, or TCtUrn5 adequate for our audit have not bccn rcceivcd fi'om bl'anches not visited by us; or the financial statements are not in agreement with the accounting i"ecords and rcmms. or certain disclosure5 of trustees rcTnunei"ation specified by law are not made. or wc havc not i'cccived all the infonnalion and cxplanations we rcquire for oui. audit. Responsibilitie5 of truslees As explained more fvlly in the Statement of Trllstees, Responsibilities (set out on pagc 6), the truslecs lre I"esponsible for the prcpai'ation of thc fiiiai)cial statements and foT being satisficd that they give a tiue aiid fair vicw, and for such internal ¢ontrol as the trustees delenriine is necessary to enable the preparation of financial statemejjts thai are frce from malcrial misstateincnt, whciher due to fraud or crror. In piepai'ing the financial slalemenls, the trustces al'e responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going conceim and using the going Concem basis of accountiDg unle55 the trustees either iDtend to liquidate the ¢harity or to cease opeialions, or have no realistic alternative bul lo do 80. Auditor Responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assuranec about whed)er che financial statements as i whole are free frotn mat¢riAI misslitement, whethei. due to fi.aud or error, aThd to issue ali auditoi s i'cport tbat includes our opinion. Reasonablc assurance is a high level of assurance, but is not a guaralltec tliat an t¢udit conduclcd in accordance witli ISAS (UK) Ivill always detccl a matcrial Tnisstalemcnt when it cxists. Misstatcmenls can arise froin fraud or en'or and aT¢ considered material if, individually or in the aggregat¢. thcy tould reasonably be expectcd to influence the ecoT)omic decisions of users taken on the basis of thcse financial statements. Thc cxtent to which our pi'ocedurcs Arc capablc of dctccling in'cgularitics, including fr&ud is detailcd bclow.. Pag¢ 8
Glenabbey Church Independent Auditor's Report to the Members of Glenabbey Church (continued) We considcred the oppoirnnities and incentives that iiiay exist within the Charity foi- fi'aud and identified the gi'ealcst potential foi. fi'aud in relation to rcvenut I'ecogniiion and payinent of amounts fi'om tlic Charity. J common with all audits uiider ISAS (UK), we are also requii'ed to perfoiTh specific pi'ocedures to I'espomd to the I'isk of mai)agenienl ovetTide. We also obtained an iinderstaiidiiig of the legal and i'egulaloiy framewoi'ks that tlie Cliaiiry opei'ate5 in, fociising oil provisions of those law5 and regulalioiis that liad a direct effecl oil tbe delcm)iiiatioii of material aOn[S and disclosui'es in tlie fiiiancial slaleineiits. The l<ey laws and regulations we consideitd in this context included Coiiipanies Act 2006, Charities Act (Nl) 2008 and guidance provided by the Cl)ai'ity Coininission for Northern Jreland. In addition, we considei.ed pi'ovisions of relevant laws and regulations that do not have a direct cffcct on thc fiiiaiicial stalemei)ts biit compliaiice willi which Inay be fiiiidainei)tal to the Chaiity's abilitji to opei'ale oi. to avoid a niaterial penalty. Oui. procedures to respond to iisks identified iJ)cliided tlie following: reviewillg Ibe finai)cial statemelll discloslltcs and testing 10 SilPPOlting docwiienlalion to asscss eoinpliallcc willi pi"ovisions of I'elevanl laws aiid regulations dcs¢ribed as liaving a direct cffeet on tlie financial slaletn¢nts- enquiring of manageinenl regarding actual and potential litigation and claim5-, peiforming analytical pi-ocediii'cs to identify any iinusiial oi. iinexpectcd i-clationships that may indicate risks of maieiial niisstatemeiit diic to fraiid; I'eadiiig miiiutes of meetings of those charged witli govein8iice and reviewing I'c178tory coii'espondencc with Ilie Charity Coi)llnission foi. Nortliern li'elalld; ill addi'essing the i'isk of fraud tljrougb n]aiiageii)eiit overi.ide of coiilrols wc, Ic5ted the appi'opiiatei)css of journal cnliies and other adjustments., assessed whetlier the judgemenrs inade in lliaking accounting esliinates are indicative of a potential bias. evaluated the business I'ationale of any significant Ii'ansactions; alld wliere possiblc obtained dire¢l confir]llation of balan¢es indepcndently fi'orn tlie relevant party. We also cgmmiinicated relcvant identificd laws and I'cgiilations and potei)tial fvaiid risks to all eng8gemenl team i)ieiiibei's, and ieinained alei1 10 ai)y iiidications of fraiid or iion-coniplia)Ice with laws and relIationS throughout Il)e audit. Because of the iithei'ei)t limi18tlOllS of an audit, tlici'e is a risk tlial we will Iiol delect all in'egulai'ilies, ill¢ludiJig tbose leadillbF fu a matei.ial misstatenient in Ilie fii)an¢ial slaleinents oi. iioi1-conipliICt willi reLJiilalion. Tijis risk increases Ilie tnore that compliance witl) a Iciw or regulation is rei)ioved from the events and ti'aiisactions I'eflected in tlie finaiicial stateinents, as we ivill be less likely to becoJJie aware of iiislances of iion-coinpliance. Tlie iisk is also 'cate1. I'cgai'ding iii'egulai'itlcs OCCLirring due to fi-aud iathcr tlian eii'oi., as fraud involvcs iiilentional concealmenl, foi"gety, collusion, omissioii oi. Inisi'epresentation. A fi]rther dcsciiption of oui. I'esponsibilities is available on the Financial Repoiting C.ouncil'5 website at.. vww.fi'e.oi'g.iiklaiiditoi-si'espoiisibililies. This desci'iption fornis paTt of oiii. aiidilor's i-epoi't. Use of oui. repoi't Tliis repoi't is Inadc solely to thc cl)aiity trustees, as a body, in accordance with section 144 of tl)e Cliarilics Act 2011 and regii12tions Tnade undei- section 154 of that Act. Oiii. audit ivoi'k h&5 becii iindei1aken so that we migl)I stAie to tl)c Iiiistees those mattel's wc are I'eqiiired to stale lo liSteeS iii ail 211ditoi's' repoi't ai)d foi- i)0 Dihei. piiipose. To the fiillest exteiit peiThitted by law, we do iiot accept or assiinie resiioi)sibility lo aiiyoi)e othei. tl)an the chai.ity aiid its tiuslees as a body, for oiir aiidit worli, foi" tliis report, oi" for thc opinions wc liavc foni)ed. Page 9
Glenabbey Church Independent Auditor's Report to the Members of Glenabbey Church (continued) Simon Hoppei. (Senior Statt]tory Auditor) For and on behalf of MBS Chartered A¢countanls, Statutory Auditoi 3 High Slreel Larne Co Antrim BT40 IfN 19 December 2024 MBS Chartered Accountants is eligible for appointtnent as auditor of the charity by vir¢ue of its cligibility for appoiotmcnl as auditoi. of a company under 5¢Ction 1212 of the Companie5 Act 2006. Page 10
Glenabbey Church Statement of Financial Activities for the Year Ended 30 June 2024 Uni'estricted funds Resti'ieted funds Total 2024 Trlote Jncome and Endowmeiits from: Dona110115 and legaci¢s Cliai-itable activities Investmeiil ineoine Oil)ei- incoine 538,357 6,690 9,850 5,057 100,697 24.146 639,054 30.836 9,850 5,057 Total iTrcome 559,954 124,843 684,797 Eypenditui-e on: Chaiilable activities (645,235) (51,328) (696,563) Total expeiidirui-e (645,235) (51,328) 1696,563) Net (expenditui-e)lincorne Gross ti'ansfei's between fiJJ)ds (85,281) 12,240 73,515 {12,240) 111,766) Nct illoveinenl in fands (73,041) 61,275 {11,766} Reconciliation of fuiid5 Total fiinds broiighl foiwai-d 1,421,252 (110,886) (49,611 1,310,366 Total funds caiTied forwai'd 1,348,211 1,298,600 Unrestricted funds Resti'icted funds Total 2023 Note Income Elldoivments fl'om: Doiialioiis and legacies Chai'itable activities Investinei)l iiicome Othci. ll)coine 546,013 3,670 ,713 1.278 110,465 22,480 656,474 26,150 1,713 1,278 Total iiicome 552.674 132.941 685.615 Expendilu)'e on: Chaiitable activities {584,007) (48.3971 1632,404} Total expenditure Net (expenditui-e)lincoine Ner niovenicnl ii) ftiiids 1584,007) (48,3971 (632,404) (31,333) 84,544 53,211 131.333) 84.544 53,211 Rcconciliqtioll ot. funds Total fitnd.4 bi'ought forwai-d 1,452,585 (195,430) (110,886) 1,257,155 Tolal Iiinds caiTied loi'ivaid 1,421,252 1,310,366 All of tlie cliai"ity's actllTlties deiive from continiiiiig opei'alioi)s diiriiig Ilie above nvo pei'iods. The iiotes oll pages 13 10 25 foTlli an integi'al parl of these fmaiicial slaiemenls. Pagell
Glenabbey Church IRegistration number: 102050) Balance Sheet as at 30 June 2024 2024 2023 Note Fixed assets Tangible asscls 13 984,158 997,265 Current assets Debtors Cash at bank and in hand 14 Is 27,168 456,958 107,815 401,568 484,126 509.383 Creditors: Amounts t'alling due ivithin one year 16 {46,613) {49,304 Net current assets 437,513 460,079 Total assets less current liabilities 1.421,671 1,457,344 (146,978) 1,310,366 Creditors: Amounts falling due after rnore tlian one year 17 (123.071) 1,298,600 Net assets Funds of the charity: Restricted (49,610) (110,886) Unrestricted income fund5 Unrestricted 1,348,210 1,298.600 1,421,252 Total funds 18 1,310,366 The financial statcmcnts oll pagc5 1 I to 25 werc approvcd by the tnjstces, and auihoriscd for issue on 19 Decemb 024 and signed on their bc alf by: n Johnston rustee I'ih Mccartney TIstee The notes on pages 13 to 25 form on integr21 part of these financial statements. Page 12
Glenabbey Church Notes to the Financial Statements for the Year Ended 30 June 2024 l Accounting polieie5 StAtement of compliance Tlie financial statciiients liavc been pi'cpai-ed in accoi-dance witli Accountiag and Rcporting by Cliaiities: Sialcmcnl of Reioinmended PraLliLe dpplicabl¥ Io Lliai'ilicb prepai-ing ilieii. aLLounls in acLordan¢e will) Ili¢ Financial Repoiting Standai'd appli¢able in the UK and Rcpublie of Ii'eland (FRS 102) (effective l Januaiy 2015) - (Cliarities SORP (FRS 102)). the Financial Reporting Standai"d applicable in the UK and Republic of li'claiid IFRS 102) aiid the Chaiities Act (Northern li'claiidl 2008. Basis of preparation Glcnabbey Cliui'cli meetE the definition of a public benefit entity undci. FRS 102. The accounts (financial st£ltements) have been prepai'ed under the hislorieal cost convention witl) iten15 I'ecognised at cost or tTansaclion valiie uiiless otherwisc Staled in the I'clevaiit iiotc(sl to these accouiits. Going concern The IIu5tees consider Ilial there are no material uncei'tainties about the cl)arity's ability 10 continue as a going concern. Income and endowments Voluntary incon]c includitJL donations, gifts, legacies and gry'anls Iliat provide core fu])ding oi. ate of a genelal naliire ib Fecugnised wlien Ilie Lharily lias enliilcmcnl lo ilie incomc, il is pi'obable ilia( Ihe incoinc will be received and the aiiiouni can be measured witli suffioieni reliability. Donations and legAcies Doiialioi)s alld Icgacies al'e i'ecogllised oil a receivable basis wlieii Irceipt is pi'obable alld the anioiii)t call be i'eliably measui'ed. Expenditure All expeiiditurc is I.ecolIstd once thei'e is a legal oi. coiistiiictive obligalioi) to that expeiidinit'e, it is pi'obable s¢iileiMeilt is I'eqiiircd aiid tlie anioiii)t cali be ineasiii'ed I'eliably. All costs al-e allocated lo the applicablc expciidittii'e l)eadllig thal 3ggregalc Sllnilai. cos15 to Iliat categoiy. Nviiere costs Catinol be dii'ectly alli"ibuted to ptIci71&1. headings they l)ave beei) allocated 01) a basis ¢oJJsislent will) the iise of I'esoiii'ces, Ivitli ceiili'al staff costs allo¢at¢d on the basis of time spenl, and depi'ecialioi) cl)ai'ges alloealed on the portion of Ilie a5scI's use. Oth¢r support costs arc allocated bascd on tl)c spi'cad of staff costs. Cllaritable Activitles Cliai'i1l¢ ble expei)dittii'e coinpiises Iliose costs iiiciiii'ed by tl)e cliai'ity iii tl)e deliveiy of its aetivitits aiid seivices foi. ils beliefic1.ies. It includ¢s botl) c051s tl)at cai) be allo¢ated dii'ecily 10 such aclivitics aiid tliose costs of an iiidll'ect iiature uecessary to suppoi"I tlieni. Piovisions for antS are made when the intention to Inake a 'an1 has been communicated to the I'ecipienl but tlierc is Liiiceitaiiity boiit eitliei. tlic liinii)g of tlie grant oi. thc aiiioiiiil of 'all1 payable. Pagc 13
Glenabbey Church Notes to the Financial Statements for the Year Ended 30 June 2024 (continued) Support COSts Support costs include ccntral fijnctions and have bccn allocattd to activity cost categories on a basis consistent with tlie use of resources, for cxample, allocaling propei'ty Costs by floor areas, or per capila, siaff costs by Ilie time spent and other costs by their usage. Governance costs These include the costs attributable to the charity's compliance with conslitulional and statutory requiremellls, in¢luding audit, strategic managemcDt and trustces mcctin¥5 and rcimbursed cxpenses. T2xaÉion Tlie cliarity is considered to p255 the tests set out in PaTagrapb I Schedule 6 of the Finance Act 2010 and therefoi'e il mects the definition of a charilablc company for UK corporation lax pulposes. Accordingly, the charity is potentially exempl frorn tsxation in respect of income or Capital gains received witliin categories covered by Chapter 3 Pait I l of tlie Corpoi'ation Tax Act 2010 or Section 256 of the Taxation of Chaigeable Gains Act 1992, to the extent that such income or gains are applied exclusively to ¢liarilable purposes. Tangible lixed assets Individual fixed assets C05ting £1,000 or morc arc initially recorded at cost. Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to wiite off the cost or valuation. less any cstimated residual value. over their expected usefi]I ccononiic life as follows.. Asset class Land and buildings Furniture and equipment Computcr cquipment Plant and Tnachinery Depreciation method and i'gte 20/0 Straight linc 25 /0 Reducing balance 33D/o Reducing balance 25Q/o Reducing balance Ti-ade debtors Trade debtors are atnounts due from customei'5 for merchandise sold or seivices perfoimed in tbe ordinary course of business. Tradc debioi's are recogniscd initially at the transaction piicc. They ai"e subsequcntly measured at amoitised cost using the effectivc interest method, less provision for impaimienl. A provision for the impaitinent of is established when there is objective evidencc that the will not be able to collect all amounts due accoi'ding to thc original terms of the i'eceivables. Cash and cash equivalents Cash and cash equivalcllls comprisc cash on liand and call dep05ils, aiid oihcr shorl-lcm l)ighly liquid invcslmcnts tlial al'e I"eadily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Page 14
Glenabbey Church Notes to the Financial Staten)ents for the Year Ended 30 June 2024 {continued) Ti-ade creditors Tradc creditors arc obligations to pay for uoods or services tl)at havc becii acquired in Ilie ordinary course of busines5 fi.oin suppliers. Accounts payable al'e classified as curi'ent liabilTlies if tlie does no( liave an unconditional riglit, at the end of tlie reporting pei'iod, lo defer settlement of the ci'editoi. for al least twelve InonÉlis after the I"eporting dale. If thei'e 15 an un¢onditional right to dcfer settleineni foi. at least twelve Inonths after thc reporting dale, they are prcsciited as non-cun"ci)t liabilities. Ti'ade ci-ediloi's are reCOliSed initially al tlie Ir81)sa¢tion pi'ice ai)d subseqiieiiily measui'ed al aniortised cost using the effective i]Ilei'esl Inetliod. Bo)'roivings Iiilei-est_bediing borroiirings are initially I'ecorded al fail- value. iiel of trdnsactioi) cosrs. Jiitei'est-bcdriiig boi'i'owiiigs al'e siibsequeiitly can'ied at Ilttoltised cost, with tl)e diffei'eiice betweei) the proceeds, net of Iransactioi) costs, aiid the atnouiit diie on rcdeinptioii beii)g recogiiised as a chai'gc lo Ibe Stateiiienl of FiJ)attcial Activitics over ihe peiiod of th¢ I'clevaiil bon'owino Interest expense is I'ecognised on Ilie basis of the effeciive intei'est i)ietl)od and is included in intei'est payable and siinilar elJarge5. Boii"oNYiigs are classified as ciin'ciil liabilities uiilcss rhe ¢haiity has ali uiicoiiditioiial iighi to defer sctflemeiiL of the liabiliry foi. at least rnvelve Inoi)ths aftei. the I'eporliiig date. Fund structui-e Uni'¢stt-icted income filnds al'e genci'al fvnds that air available for use at the tiuslees disci'etion in fuitherance of the objcctives of the charity. Restt'icted ii)coille ndS ail thosc donated foi- use in a pairti¢ulai- ai-ea oi. foi. specific purposes. tlie use of which is restricted to that ai'ea or pUoSe. 2 Jncorne from donation5 and legacies Uni-e5trleted funds General Resti'ieted funds Total funds Doiialions and legacics., Gift aid reclaiincd Regulai. giving and capital doniilions 80,053 458,304 15,165 85,532 95.218 54J,836 Total for 2024 538,357 100,697 639,054 Total foi- 2023 546,013 110,461 656,474 3 Inconie f?'oin ¢hTrritable activities Page 15
Glenabbey Church Notes to the Financial Statements for the Year Ended 30 June 2024 (continued) Unrestricted funds General Re5trlcted fund5 Total funds Ovciseas missions Childrcn, Youth and Young Adult activill¢S ComJnunity 24.146 24,146 6,690 6,690 Total for 2024 6,690 24,146 30,836 Total for 2023 3,670 22.480 26,150 Pagc 16
Glenabbey Church Notes to the Financial Statements for the Year Ended 30 June 2024 (continued) 4 Investment inc(bme Uni'estri¢ted funds General Total tunds Iiitei'esl rcccivable ai)d sill)ilai itscome,. liiterest i"eceivable oil baTrk deposits 9,850 9,850 Total t'oi. 2024 9,850 9,850 Total foi. 2023 1,713 1,713 5 Othei. income Uni'estricted funds General Total funds Music iiicoinc & charity's use of asscts 5,057 5,057 TotAI foy 2024 5,057 5,057 TotAI foi. 2023 1.278 1.278 Pagc 17
Glenabbey Church Notes to the Financial Statements for the Year Ended 30 June 2024 (continued) 6 Expenditure on charitable activities Unrestj'icted funds General Restricted funds Tot21 2024 Ovcrseas missions Barnabas Fund Child]'en. Youth and Young Adult aclivilies Pastoral Community Dcpi'eciation, amortisation and olhcr similar costs Grant funding of activities Staff costs Allocated sUPPOrt costs Governance costs Note 43.949 43,949 9,709 9,709 23,809 33,244 31,556 24,147 47,956 33,244 31,556 32,939 32,939 i 0,000 364,198 118,933 4,079 i 0,000 364,198 7,472 4,079 645,235 Unre5trieted funds General 51,328 696,563 Restricted funds Total 2023 Ovcrseas missions Barnabas Fund Cliildrer], Youth and Young Adult activitics Pastoral Community Depi'eciation, amortisalion and other similar costs Siaff costs Allocated support costs Goveinance costs Note 39,040 9,485 8.850 48,525 8,850 26,096 27,754 34,378 21,508 47,604 27,754 34,378 31,739 336,216 85,784 3,000 31,739 336,216 94,338 3,000 632,404 8.554 584.007 48,397 Pagc 18
Glenabbey Church Notes to the Financial Statements for the Year Ended 30 June 2024 (contRnued) 7 Analysis of goi'eynanee and support eosts Charitable a¢tSvities expenditui'e Uiii'estricted fund5 Genei-81 Restrlcled funds Total 2024 BASIS of allocation Utilities liisiii'ances Sile mallltenance Cominuiiicatioiis Expei)ses and Ii?vel Training Bank interest JT, Sialioneiy and postage Bank charges Tea, coffee and h05Pltality Pi'ofessioiial Fees 39,466 6,598 27,134 5.088 5.137 1.509 39,466 6,598 27,134 5,088 5,137 1.509 7,383 12,138 3,770 7,525 3,185 7,383 12,138 3,681 7,525 3,185 89 111,461 7,472 118,933 Unyestricted funds GcnLI-al Re5ti-icted funds Total 2023 Basis of Allo¢AtioyJ Utilities Insui'ai)ces Sile Inainten7ce 38,543 5,577 6,270 4,050 5,018 174 38,543 5,577 6,270 4,050 5.018 174 Coi]miuiiicatioiis Expenses and travel Ti'aiiiing Bank ii)Icrest IT, Stalioneiy and postage Bank charges Tea. coffee and liospitality 8,455 8,455 13,627 5,292 7,332 13,627 5,193 7.332 99 85,784 8,554 94,338 B.?$is of allocAtion Refei'ence Metliod ot. allocation Usage Page 19
Glenabbey Church Notes to the Financial Statements for the Year Ended 30 June 2024 (continued) GoverT]#nce costs Uni-estricted funds Gener21 Total 21i24 Audit fees Audit of tlie fiiiaiicial staleinents Lcgal fees 3,000 1,079 3,000 1.079 4,079 4,079 Uni-estricted funds General Total 2023 Audit fees Audit of Ilie financial slalements 3,000 3,000 3,000 3,000 8 Grant-In2king Analysis of grants Tlie suppoit cosis associated Ivith graiit-making are £Nil (30 June 2023 - £Nil)- Below are detsils of material graiits made to institutions. 2024 2023 Name of institution Village Chui'ch Hope 365 Activity Building Together Building Togethcr 8,000 2,000 10,000 Page 20
Glenabbey Church Notes to the Financial Statements for the Year Ended 30 June 2024 (continued) 9 Net incomingloutgoing I'esources Net {oulgoing)lin¢oining I'c50urces for the year illcludc: 2024 2023 Audit fees Depi-ecialioii of fixed assets 3,000 32.939 3,000 31.739. 10 Ti'ustees remuneration and expenses No tii]stee5, nor aiiy pei'son5 collllecled willi thein, have i'eceived any reinui)eration fi'oin the chaiity dui'ing Ilie year. I I Staff costs The aggLegate payi-oll costs wei'c as follows.. 2024 2023 Staff costs during the year ivere: Wages and salai'ics Social secui'ity costs 343,449 20.749 314,619 21.597 364,198 336,216 T]ie inolltl)ly average niunbcr of pei'soiis (including senior Inanagement I Icadci'sliiii teain) einployed by tl)¢ Ll)arity duriiig the ycai" ¥xpressed as 11 lime equivdlenls was as follows.. 2024 2023 Maagcent SciTriicc provisioii 13 13 15 Coiitribuliolls to ilie employee pension scl)eines foi. tlie ye. totalled £39,686 (2023 - £17,032). No eiiiployee received eJ)ioluineniS of iDoi'e than £60.000 during tl)e year. Pagc21
Glenabbey Church Notes to the Financial Statements for the Year Ended 30 June 2024 (eontinued) J 2 Tayation Thc cliaiity is a l-egislei'ed charity and is thei'efore exempt from taxation. 13 Tangible fixed $setS Land and buildings Fuynitui'e And equipment Computer equipment Plant and machinei-y Total C05t At l July 2023 Additions 5,101,200 9,900 72,160 1,045 43,458 2,689 153,080 6,198 1,369,898 19,832 At 30 June 2024 I,Iii,100 73,205 46,147 159,278 1.389,730 Depreciation At l July 2023 Charge for the year 132,144 22,222 63,951 2,618 39,239 2,281 137,299 5,818 372,633 32,939 At 30 June 2024 154,366 66,569 41,520 143,117 405,572 Net book value At 30 June 2024 956,734 6,636 4,627 16,161 984,158 At 30 Julle 2023 969,056 8,209 4,219 15,781 997,265 Revaluation Tlie fail. value of the company's Land and buildings was revalued on 17 Febn]ary 2020 by Tdk Commei'cial Pi-opeity Collsultants an independent valuer. Had Iliis class of assct been Jncasurcd on a historical cost ba51S, their cairying amount would havc bccn £Nil {2023 £2,133.693). 14 Debtors 2024 2023 Trade debioi's Prcpayinents 23,994 3,174 104.267 3,548 27,168 107.815 Pag¢ 22
Glenabbey Church Notes to the Financial Statements for the Year Ended 30 JuDe 2024 (continued) I S Cash and cash equivsklenls 2024 2023 Casb on liand Casli al bank 118 456,840 254 401,314 456,958 401,568 16 Creditol's: amounts falling duc iyithin one year 2024 2023 Bank loans Othei. ci'editoi's Acciiials 22,847 11,700 12,066 46,613 22,847 17,275 9,182 49,3D4 Ci'editoi's due witliin one year includes tlie followiiig liabilities. on wliich secui'i()i has been given by ihe cliarity.. 2024 2023 Danske Bank 22,847 22.847 17 Credltors,. Amounts falllng due Hftei- one year 2024 2023 Bank loans R23,071 146,978 Ci'ediloi"s ainoui)Is falling due &tlei' niore than one yeai. includes the followin¥ liabilities, on wliich secui'ity lias been given by tlie cliarity.. 2024 2023 Danske Banlc 123,071 146,978 Moi'tgagc Oll pi'operty at 6 Ballyci"aigy Road, Newtowiiabbey, Co Aiili-im, B T36 5ZZ Page 23
Glenabbey Church Notes to the Financlal Statements for the Year Ended 30 June 2024 (continued) 18 Funds Balance at 30 June 2024 Balanee At I July 2023 Jncoming resources Resources expended Transfei's Uni-estrictcd fund5 General Genei'al (1,421,252) (559,954) 645,236 (12,240) {1,348,210) Restricted funds Building Togethci. (Chui'ch Building Fund) Ovctseas Missioii support Hoine sllpporl Cl)ildren, Youth and Young Adult aclivilics 139,747 18,653 {47,514) (86,891) 17,472 12,240 82,568 18.653 {51,611) (13.806) 9,709 (24,147) 24,147 Total restricted funds 110,886 (124,844 51,328 12,240 49,610 Total flld$ 11,310,366 (684,798 696,564 (1,298,600) Balance xt I July 2022 Incoming resour¢es Resources expended Balance at 30 June 2023 Unrestyieted funds Geneiol Gcncral (1,452,585) (552,674) 584,007 (1.421,252) Re5Éricted Building Together (Church BuildiT)g Fund) Overseas Missioll support Hoyne support Children, Youtl) and Young Adult activities 228,434 10,140 (43,144) (97,241) (972) (13,220) 8,554 9,485 8,850 139,747 18,653 (47,514) (21,508) 21,508 Total re5trlcted fllnds 195,430 132,941) 48,397 110,886 Total funds (1,257.155 (685,615) 632,404 {1,310,366) During the year the building togcih¢r fvnd had accumulatcd funds towards tlie consituclion of a prayci. room. tl)is asset is i)ow conshiicled and will be availbale for geiiei.al use on an unretsi'icied basis. The value of the 855et lias been transfeii.ed to Unrestricted thnds going fonvard. Pagc 24
Glenabbey Church Notes to the Financial Statements for the Year Ended 30 June 2024 (continued) 19 Analysis of net a55els behyeen funds UnYe51ricted funds General To121 funds al 30Jvne 2024 Restricted funds Tangible fixed as5eis CuiTenl assets C.uii-enr liabilities Ci'edilois over l yeai- 984,158 188,461 (22,038) 984,158 484,126 [46,613) {123,0711 295,665 (24,575) 1123.071) Total nel assets 1,150,581 148,019 1,298,600 Unresti-icted funds Geiieral Total funds at 30 June 2024 Restricted funds Tangible fixed assets CuiTent assets Current liabilities Ci-edilois ov¢r l yedr 984,158 386,091 (22,038) 984,158 484,126 146,6131 (123.071) 98,035 124,575) (123.071) Total iiet assets 1,348,211 (49,611 1,298,600 20 Related party transactl0115 Diiring the year tlic cliarity Inadc the following related party ti'ansactioiis= G81'th Mccartiiey (The Tnistee is 2 pa1111er iii Synergy Constiuctioii INI) LLP.) A Iiayineiit of £ ],] 00 was imade tLTr Syiiei'gy Coiisliuction LLP foi. coiistiijciion services provided. At tlie balance slicel date tlie aiiioiiiil due tolfi'oni Garili Mccartlley was £Nil12023 - £Nil). Pagc 25