City Cburcb Belfast Statement of Financial Aetivities for the Year Ended 31 December 2023 31.12.23 Total funds 31.12.22 Total fijnds Unrestricted Restricted fund funds Notes INCOME AND EM)OWMENTS FROM Donations and legacies 89.981 26,407 116,388 106,504 Other trading 2Ctivitieg Investment income 15.56n 658 15.560 658 15.694 73 Total 132 606 122 271 EXPENDrruRE ON Charitable activities Direct cost Support cost 101.115 2.030 16,712 117,827 2.030 126,564 2,009 Other Total 105 521 123 652 130 673 IYET INCOMEI(EXPENDrruRE) Transfers between funds 678 180 8,276 180 8.954 (8,402) Net movement in funds 498 8.456 8.954 (8,402) RECONCILIATION OF FUNDS Total funds brought forward 38,394 19.809 58,203 66,605 TOTAL FUNDS CARRIED FORWARD The notes forni part of these financial statements Page 6
Ctty Chllreh Belfast Balance Sheet 31 December2023 31.12.23 Total funds 31.12.22 Total funds Unrestricted Restricted fund funds Notes CURRENT ASSETS Cash at bank and in hand 40,135 29,405 69.540 59,870 CREDrroRS Amounts falling due within one year {1243) (1,140) (2,383) (1,667) NET CURRE1 ASSETS TOTAL ASSETS LESS CURRENT LIABILITLES 38.892 28,265 67,157 58.203 IYET ASSETS Unrestricted funds Restricted funds 38,892 38,394 TOTAL FUNDS The financial statements We approved by the Board of Trustccs and authorised for issue on 14 March 2024 and were signed on its behalf by: Mr St¢phen Mccrory - Trustee ock - Trustee The notes fonn part of these fJnan¢ial statements Page 7
City Church Belfast Notes to the Financial Statements for the Year Ended 31 December 2023 ACCOUNrtNG POLICtEs Basis of preparing the financial statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective I -IAniixry 2019),, Fin2nciAI Repnrting StAndArd I 02 'The Fin2nciAI Repnrting Stsndard applicahle in the UK and Republic of Ireland, and the Charities Act (Northern Jreland) 2008. The financial statements have been prepared under the historical cost convention. ncome All income is recognised in the Statement of Financial Activities once thc charity has entitlement to thc funds, it is probable that the income will be received and the amount can be me&sured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that cxpenditurc, it is probable that a transfer of economic benefits will be required in s¢ttlcment and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has b¢cn classified under headings that aggregate all 5t related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. Taxation The charity is exempt from tax on its charitable activtties. Fund accounting Unrestricted funds can bc us¢d in accordance with the charitsble objectives at the discretion of the trustees. Restricted funds can only be used for particular r¢strict¢d Purposes within the objects of the charity. Restrictions arise when specified by the donor orwhen funds are raised for particular restricted purposes. Pension Costs and other post-retirement benefits The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme arc chargd to the Statetnent of Financial Activities in the period to which they relate. Page 8 continued...
City Church Belf&st Notes to the Financial StatemeDts- continued for the Year Ended 31 December 2023 31.12.23 31.12.22 Bakery rent Room hire 7,700 5,000 INVESTMENT llYCOfvtE 31.12.23 31.12.22 Deposit account interest TRUSTEES, REMUNERATION AIYD BEIYEFITS Included in wages is Trustee's remuneration of £5.306. (2022 £19,467). Trustees, expenses There were no trustees, expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcrIvrrIES Unrestricted Restricted fund fidS Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 93,058 13.446 106,504 Other trading activities Investmcnt income 15.694 73 15,694 73 Total 108 825 122271 EENDITuRE ON Charitable activities Direct cost Support cost 104,733 2,009 21.831 126.564 2.009 Other 465 Totsl 108 377 130 673 NET llyc0]kl(EXpENDTTURE) Transfers between funds 448 182 (8,850) 182 {8,402) Net movement in funds 266 (8.668) (8.402) Page 9 continued...
City Chureh Belfast Notes to the Financial Statements - continued for the Year Ended 31 December 2023 COMPARATIVES FOR THE STATEMENf OF FINANCIAL AcrIvrrIES- continued UnTeStrictsd Restricted Total fund funds fimds RECONCILIATION OF FUNDS Total funds brought forward 38.128 28,477 66,605 TOTAL FUNDS CARRIED FORWARD CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.23 31.12.22 Taxation and social security Other creditors 509 403 MOVEMEiYf JN FI)NDS Net movement in funds Transfers between fidS At 31.12.23 At 1.1.23 Unrestricted funds General fund 38,394 678 (180) 38.892 Restricted funds Christians against FM)Verty Christmas lunch C Mccaughey Covid hardship fund Children and youthwork fund Building refurbishment ppJs Building maintetwice Communiry garden Community fund Welcome corner 200 312 (178) (152) (4,584) (5,028) (1.200) (84) 300 312 178 86 656 4.584 185 4,200 10.000 590 10.000 5,157 3,000 (10.000) 1,000 808 808 180 TOTAL FUNDS Page 10 continued...
City Cburcb Belfast Notes to tbe FillaDcial Statements- continued for the Year Ended 31 December 2023 MOVEMENT IN FUNDS . continued Net movement in fund& included in the above are as follows: Incoming resources Resources expended Movement in funds lJnrestricterf funrf¥ General fund I06,199 (105,521) 678 Restricted funds Christians against poverty Christmas lunch C Mccaughey Covid hardship fund Children and youthwork fund BuildÉng rcfurbishment PAIS Community garden Community fund Welcome corner 1,000 1,503 913 591 (800) (1,191) (1,091) (743) {4,584) (5,028) (1200) 200 312 (178) (152) (4,584) (5,028) (1,200) 1.000 808 1,000 1.400 (592) TOTAL FUNDS Page 11 continued...
City Churcb Belfast Notes to the Financial Statements- continued for the Year Ended 31 December 2023 MOVEMENT IN FUNDS - continued Comparatives for movement ID funds Net movement in fimds Transfers between funds At 31.12.22 At 1.1.22 Unrestricted funds General fund 38,128 448 (182) 38,394 Restricted funds Christians against poverty Prayer p(xl Covid hardship fund Children and youthwork fimd Building refurbishment The big lunch fund Sunday kids pS Building maintenance (3,660) 12,500 2.088 9,545 500 (12,500) (1.432) {7,461) (315) 294 (476) 4,200 656 4,584 185 2.500 (294) 476 4,200 182 TOTAL FUNDS Comparative net movement in fids. included in the above are as follows". Incoming r¢sources Resources expend Mov¢m¢nt in funds Unrestricted funds General fund 108.825 (108.377) 448 Restricted funds Christians against poverty C Mccaughcy Covid hardship fund Children and youthwork fund Building refurbishment The big lunch fund Sunday kids PAIS 91 (3,751) (461) (1,432) (10,447) (315) (3.614) (1.476) 800 {3,660) (1,432) (7,461) (315) 294 (476) 2,986 3.908 1,000 TOTAL FUNDS Page 12 continued..
City Church Belf&st Not to the Financial Statements - continued for the Year Ended 31 December 2023 MOVEMENT n¥1 FUNDS- continlled A current year 12 months and prior year 12 months combined position is as follows: Net movement in fvnds Transfers between funds At 31.12.23 At 1.1.22 Unrestricted funds General fimd 38.128 1.126 (362) 38,892 Restricted funds Christians against poverty Christmas lunch C Mccaughey Prayer p(Kl Covid hardship fund Children and youthwork fimd Building refurbishtnent The big lunch fund Sunday kids pS Community garden Community fund Welcome corner (3,460) 312 (178) (84) 300 312 178 (12.500) 86 2,500 10.000 (294) 476 12.500 2,088 9,545 500 (1,584) (12.045) (5.343) 294 (476) 3,000 1.000 808 590 5,157 3,000 1,000 808 574 362 TOTAL FUNDS Page 13 continued...
City Church Belfast Iyotes to the FiDancial Statements - contiDued for the Year Ended 31 December 2023 MOVEMENT IN FUNDS - colltinued A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestrieted funds General fund 215,024 (213,898) 1,126 Restricted funds Christians against poverty Christmas lunch C Mccaughey Covid hardship fid Children and youthwork fund Building refurbishment The big lunch fund Sunday kids pS Community garden Community nd Welcom¢ comer 1.091 1,503 1,374 591 1986 (4,551) (1,191) (1.552) (2,175) (15,031) (5,343) (3,614) (1.476) (2.000) (3,460) 312 (178) (1,584) (12,045) (5,343) 294 (476) 3,000 1,000 808 3,908 1.000 5,000 1,000 1.400 (592) 574 TOTAL FUNDS 552 RELATED PARTY DISCLOSURES The only related paty transactions relate to trustee remuneration, details of which are noted at note 4. Page 14