City Church Belfast Statement of Financial Activities for the Year Ended 31 December 2024 31.12.24 Total fimds 31.12.23 Total funds Unrestricted Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 92,221 20,433 112,654 116,388 Other trading activities tnvestment income 19,944 19,944 684 15,560 658 Total 133 282 132 606 EXPENDrruRE ON Charitable activities Direct cost Support cost 100,996 3.084 37,515 138,511 3,084 116,913 2,944 Other Total 150 131 123 652 ET INCOMEI(EXPENDrruRE) Transfers betTrveen fuDds 1,752 (18.601) (16,849) 8,954 Net movement in funds 714 (17,563) (16,849) 8,954 RECONCILIATION OFFUNDS Total fvnds brought forward 38,892 28.265 67,157 58,203 TOTAL FUNDS CARRIED FORWARD 15 The notes fonn part of these financial statements Page 8
City Church Belfast Balance Sheet 31 December 2024 31.12.24 Total funds 31.12.23 Total funds Unrestricted Restricted fillLd funds Notes CURRENT ASSETS Cash at bank and in hand 43,028 10.762 53,790 69,540 CREDITORS knounts falling due within one year (3,422) (60) (3,482) {2,383) NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABtLITIES 39,606 10,702 50,308 67,157 NET ASSETS FUNDS Unrestricted funds Restricted funds 39,606 38,892 TOTAL FUNDS The financial statements were approved by the Board of TTUStees and authorised for issue on 6 A1[ 2025 and were signed on its behalf by: Anthony Johnston - Tnjstee Angela Page - Trustee The notes forn] part of these financial statements Page 9
City Church Belfast Notes to the Financial Statements for the Year Ended 31 December 2024 ACCOUNTING POLICIES Basis of preparing the financi21 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 January 2019),, Financial Reporting Standard 102 The Financial Rcporting Standard applicable in the UK and Republic of Ireland, and the ChaTities Act (Northern Ireland) 2008. The fuclaI statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can bc me&sured reliably. Expenditure Liabilities are recognised as cxpenditure as soon as there is a legal orconstructive obligation committing the charity to that expenditurc, it is probable that a transfer of economic benefits will be iequired in settlement and the amount of the obligation can be measuicd reliably. Expcnditure is accounted for on an accruals basis and has been classified under headings that awegate all cost related to the catcgory. Where costs cannot be directly attributed to particular headings. they have been allocated to activities on a basis consistent with the use of iesources. Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in acconjance with the charitable objcctivcs at thc discretion of the trustees. Rcstrictcd funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor orwhen funds are raised for particular restricted puOses. Pension costs and other post-retirement benefits The charity operates a defined contribution pension scheme. Contributions payable to the charitys pension scheme are charged to the Statement of Financial Activit1&8 ID the period to which they relate. Page 10 continued...
City Church Belfast Notes to the Financlal Statements - continued for tbe Year Ended 31 December 2024 OTHER TRADING ACTIVITIES 31.12.24 31.12.23 Bakery rent Room hire 12,000 7,700 INVESTMEKf INCOME 31.12.24 31.12.23 Deposit account interest 684 TRUSTEES, REMUNERATION AIYD BENEFITS There were no trustees, wages paid for the year ended 31 December 2024. (2023 £5,306). Trustees, expenses There were no trustees, expenses paid for the year ended 31 Deccmber 2024 nor for the ycar ended 31 December 2023. COMPARATIVES FOR THE STATEMEiYf OF FtNANCIAL ACTIVITIES Unrestricted Restrictcd fid funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 89,981 26,407 l16,388 Other trading activities Investment income 15,560 658 15,560 658 Total EXPENDITURE ON Charitable activities Direct cost Support cost 101,115 2,030 16,712 117,827 2.030 Otbcr Total 105 521 123 652 NET INCOMEJ(EXPEI¥DITURE) Transfers between funds 678 8,276 180 8,954 Net movement in funds 498 8,456 8,954 Pagell continued...
City Church Belfast Notes to the Flnancial Statements - conrfnlled for the Year Ended 31 December 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued Unrestricted Restricted Total fimd funds fimds RECONCILIATION OF FUNDS Total funds brought forward 38,394 19,809 58,203 TOTAL FUNDS CARRtED FORWARD CREDITORS: AMOUNTS FALLING DUE WtTHIN ONE YEAR 31.12.24 31.12.23 Taxation and social security Other credilors 893 509 MOVEMENT IN FUNDS Net ovemcllt in funds Transfcrs between fimds At 31.12.24 At 1.1.24 Unrestricted funds General fund 38,892 1.752 (1,038) 39,606 Restricted funds Christians against poverty ChristTnas lunch Covid hardship knd Building refurbisl)ment pS Community garden Community fimd Gift Day Welcome corner 3(N) 312 590 5,157 {3(X)) (146) (846) (4,800) (3,760) (180) (223) 8,774 166 256 357 760 820 585 8,774 22 28 1.038 TOTAL FUNDS Page 12 continued...
City Chureh Belfast Notes to the Flnancial Statements - eontlnued for the Year Ended 31 December 2024 MOVEMENT FUNDS - continued Net movement in fimds. included in the above are as follows: Incoming resources Resources expended Movement in fLEnds Unrestrficted funds General fund 112.849 (111,097) 1,752 Restricted funds Christians against povety Chrislmas lunch Gift Day Covid hardship fund Building refurbishmcnt pS Community garden Community fund Welcome cornei (300) (146) (3,300) (846) (4,800) (3,760) (2,500) (1,282) (300) (146) 8,774 (846) (4,800) (3,760) (180) (223) 12,024 2.320 1.059 TOTAL FUNDS Page 13 continue(L..
City Church Belfast Notes to the Financial Statements - continued for the Year Ended 31 December 2024 MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement in funds Transfers between funds At 31.12.23 At 1.1.23 Unrestricted funds General fund 38,394 678 (180) 38,892 Restricted funds Christians against povety Christmas lunch C Mccaughey Prayer pod Covid hardship fund Children and youthwork fid Building refiwbisbrnent pS Building maintenance Community garden Community fund Welcome corner 184 200 312 (178) (84) 300 312 178 656 4,584 185 4.200 10,000 (152) (4,584) (5,028) (1,200) 86 590 i 0,000 5,157 3,000 (10,000) 1,000 808 1,000 808 180 TOTAL FUNDS 58 Comparative net movement in fund8, included in the above are as follows: Incoming resources Resourc¢s expended Movement in fimds Unrestricted funds Gencral fund 106,199 (105,521) 678 Restricted funds Christians against povety Christmas lunch C Mccaughey Covid hardship fund Children and youthwork fLd Building refibishmellt pS Community garden Community fund Welcome corner (800) (1,191) (1,091) (743) (4,584) (5,028) (1,200) 200 312 (178) {152) (4,584) (5,028) (1,200) 1,000 808 1.503 913 591 1.400 (592) 18 13l) TOTAL FUNDS Page 14 continued...
City Church Belfast Notes to the Financial Statements - continued for the Year Ended 31 December 2024 Notes to the Financial Statements- eontinued for the Year Ended 31 December 2024 RELATED PARTY DISCLOSURES There were no related paty transactions in the year. DetaAls of prior year transactions are noted at note 4. Page 15
City Church Belfast Detailed Statement of Financial Activities for the Year Ended 31 December 2024 31.12.24 31.12.23 INCOME AND ENDOWMENrs Donations and legacies Donations Grants 99,368 90,630 112.654 116,388 Other trading activities Bakery rent Room hire 12,000 7,700 19,944 15,560 Investment income Deposit account interest 658 Total Incoming resources 133,282 132,606 EXPENDITURE Charit8bRe activities Wagcs Pensions Hire of plant and machinery Computer costs Rates and water 66,441 2,109 554 105 687 2,999 5,170 698 350 11,783 16,271 3,060 1.098 34 767 25,559 826 65,559 2,149 554 256 279 2,934 6.511 687 550 15,811 11,168 1,270 3,624 35 213 4,453 860 Light and heat Telephone Postage and stationery Church titbc and gifts Building maintenance & repair Pais expenses Legal & professional Staff training Travel Church programmes Music media 138,511 116,913 This page does not fomi part of the statutory financial statements Page 16
City Church Belfast Detailed Statement of Financial Activltles for the Year Ended 31 December 2024 31.12.24 31.12.23 Charitable activities Other Sundry 8,536 3,795 Support costs Finance Bank charges 919 914 Governance costs Accountancy and legal fees Total resources expended 150 131 123 652 Net incomel(expenditure) This page does not forni part of the statutory financial statements Page 17