**REGISTERED COMPANY NUMBER: NI602795 (Northern Ireland) REGISTERED CHARITY NUMBER: 102175**
## **Report of the Trustees and**
## **Financial Statements**
**for the Year Ended 31 August 2023**
## **for**
**Storehouse (NI) (A Company Limited by Guarantee)**
McCleary & Company Ltd Chartered Accountants Garvey Studios 14 Longstone Street Lisburn Co. Antrim BT28 1TP
**Storehouse (NI)**
## **Contents of the Financial Statements for the Year Ended 31 August 2023**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 4|
|**Independent Examiner's Report**|5 to 6|
|**Statement of Financial Activities**|7|
|**Balance Sheet**|8 to 9|
|**Notes to the Financial Statements**|10 to 16|
|**Detailed Statement of Financial Activities**|17 to 18|
## **Storehouse (NI)**
## **Report of the Trustees for the Year Ended 31 August 2023**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2023. The trustees have adopted the provisions of 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 1 January 2019).
## **OBJECTIVES AND ACTIVITIES Our Mission To develop communities that recognise the significance in everyone.**
We recognise that poverty of any kind often steals self-worth and value, driving people towards isolation and stripping away dignity and individual significance. We believe that, by both meeting practical needs through provision and developing positive community environments, these patterns can be reversed, and dignity, significance and hope can be restored leading to individual and community wide flourishing.
## **Our Objectives and Aims**
Our aim in Storehouse (NI) is to combat physical poverty and develop healthy, positive communities throughout the Greater Belfast Area. We do this, for the public benefit, through our two objectives:
(a) To relieve financial hardship and poverty and to promote and preserve good health by the provision of funds, goods or services of any kind, including emergency food, clothing and household goods. The direct benefits which flow from this purpose include improvement of health, reduction of anxiety and stress associated with a poverty lifestyle. These benefits can be demonstrated by feedback from referring partner agencies, continued monitoring of service user circumstances and ongoing evaluation of our service delivery.
(b) To benefit the residents of the Greater Belfast Area and beyond without distinction of sex, sexual orientation, race or of political, religious or other opinions by associating together the said residents and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation leisure time occupation with the objective of improving the conditions of life for the residents. The direct benefits which flow from this purpose include increased understanding and awareness of local poverty issues, reduction in poverty driven isolation and an increase in opportunity for social interaction. These benefits can be demonstrated by provision of educational presentations in schools, churches etc., ongoing training of volunteers and provision of facilities for multiple social and educational programmes ran by ourselves and third-party organisations.
## **Who do we benefit?**
The charity's beneficiaries are those living within the Greater Belfast Area lacking the ability to provide themselves with the basic essentials of life as referred to us by our partners and those in receipt of an increased awareness of local poverty issues through our educational presentations and training sessions.
## **How do we mitigate harm?**
The purposes of the charity may lead to harm by producing an over dependency on charitable provision however, through ongoing monitoring of individual service user access the risk of harm is outweighed by the benefits. The only private benefit flowing from the purposes is ongoing training in relevant fields accessible to the trustees and this is incidental and necessary because it directly impacts their ability to serve within the charity.
Page 1
## **Storehouse (NI)**
## **Report of the Trustees for the Year Ended 31 August 2023**
## **OBJECTIVES AND ACTIVITIES**
## **Background**
Launched in 2008, as a project of Belfast City Vineyard Church, Storehouse had a very simple aim; to combat food poverty throughout the Greater Belfast area, working towards the day when no one in our city should have to go hungry. Since then, the project has evolved with Storehouse (NI) being established in 2010 and the focus broadening to encompass other basic needs such as clothes, furniture and household goods. Today Storehouse is providing around 150 food parcels, seeing 200 referrals in our centre, and making around 10 furniture deliveries every week. We partner with over 200 charities and agencies across the city and work alongside more than 70 churches, schools, and businesses.
## **How did we do?**
In the year ending 31 August 2023, Storehouse (NI) continued to grow in influence within the Greater Belfast Area and provided a significant service to those living in circumstances of poverty and financial, relational or emotional hardship. We delivered on our objectives in the following ways:
a) We continued to run 4 referral sessions per week, 51 weeks in the year, staffed by an amazing volunteer team. This was our first full year running our onsite "shop" allowing service users the dignity of maximum choice. Within these sessions we had roughly 5,750 visits to our food shop, where we were able to provide over 130,000 items of food and toiletries to those in need. On top of that we were able to supply over 15,500 items of clothing and deliver close to 600 items of furniture to families and individuals living within poverty throughout Belfast. The value of the goods given, without charge to the individuals served, is estimated to be around £210,000. We provided this practical help to over 1,750 unique homes across the city, representing a vast spectrum of the community including, but not limited to, families with young children, individuals living on benefits, those struggling with cycles of addiction or mental health issues, the homeless, refugees and asylum seekers.
b) Alongside the practical provision we sought to develop a healthy, positive community within our service users and volunteers and the wider Belfast community through facilitating some relational based environments such as art and pottery groups, guitar classes, football, baking, photography and filmography, English classes and much more. We continue to run our weekly Wednesday morning breakfast drop in space, providing both a hot breakfast and a space of positive community to over 60 guests every week. Throughout the year we have had the joy of welcoming a trained advice agent into our breakfast space, providing bespoke advice to those in need around issues of housing and benefits. This year also saw us form a strategic partnership with Hope into Action, a UK based national charity, helping to empower churches to house the homeless. Investors were sought and our first house was acquired. We finished the current financial year in the process of refurbishment and seeking our first licensees.
Throughout the year we have continued to speak in many of our 80+ partner churches, schools and businesses, sharing about the work of Storehouse and more importantly speaking to perceptions of local poverty issues and inviting 100's into ongoing conversations about the challenges facing our communities. We have offered training to our amazing team of 150+ volunteers in areas such as health and safety, safeguarding, first aid, food hygiene, suicide awareness, understanding the benefit and asylum systems and much more. We have facilitated learning placements for college and university students as well. We continue to seek a better understanding for all, across the socio-economic divides within our city.
## **FINANCIAL REVIEW**
## **Investment powers and policy**
The constitution of Storehouse (NI) authorises the Trustees to make and hold investments using its funds. Cash balances are currently held with the Cooperative Bank plc. The Trustees, with regard to the liquidity requirements of the organisation, have operated a policy of keeping funds within interest bearing accounts.
Page 2
**Storehouse (NI)**
## **Report of the Trustees for the Year Ended 31 August 2023**
## **FINANCIAL REVIEW**
## **Reserves policy**
The Trustees who served in this period have undertaken the work of the charity, identified the major risks to which the charity is exposed and are satisfied that all appropriate policies are in place to mitigate these risks. Storehouse (NI) maintains reserves in order to cover fluctuations in income and expenditure, to allow for any major unexpected expenditure or to mitigate any decline in the overall financial environment.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **Organisational structure**
Storehouse (NI) is a company limited by guarantee as well as a registered charity, in which the company directors form the board of Trustees. The liability of each Trustee in the event of a winding up is limited to £1. The day-to-day running is delegated to the employed staff.
## **Induction and training of new trustees**
New Trustees are appointed when appropriate. Suitable candidates are considered on the basis of their skills, experience and sympathy with the aims of the charity. New Trustees have the opportunity of reviewing appropriate documents, including the accounts, as part of the induction process.
## **Risk management**
The systems of internal control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss. They include:
- An annual budget approved by the Trustees
- Regular review by the Trustees of financial reports
- Identification and management of risk
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
NI602795 (Northern Ireland)
## **Registered Charity number**
102175
## **Registered office**
1st Floor Temple Court 39 North Street Belfast Co. Antrim BT1 1NA
## **Trustees**
Mr Alan Roye Carson Associate Pastor Rev Andrew Textor Smith Minister Of Religion Mr Timothy Mairs Director
Page 3
## **Storehouse (NI)**
## **Report of the Trustees for the Year Ended 31 August 2023**
## **REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner**
John McCleary FCA McCleary & Company Ltd Chartered Accountants Garvey Studios 14 Longstone Street Lisburn Co. Antrim BT28 1TP
## **Bankers**
The Co-Operative Bank P O Box 101 Balloon Street Manchester M60 4EP Approved by order of the board of trustees on 23 April 2024 and signed on its behalf by:
Mr Alan Roye Carson - Trustee
Page 4
## **Independent Examiner's Report to the Trustees of Storehouse (NI)**
I report on the accounts of the company for the year ended 31 August 2023, which are set out on pages seven to sixteen.
## **Respective responsibilities of charity trustees and examiner**
As the charity's trustees (and also the directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
- examine the accounts under Section 65 of the Charities Act
- follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act
- state whether particular matters have come to my attention.
## **Basis of the independent examiner's report**
I have examined your charity accounts as required under Section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters.
My role is to state whether any material matters have come to my attention giving me cause to believe:
1. That accounting records were not kept in accordance with Section 386 of the Companies Act 2006
2. That the accounts do not accord with those accounting records
3. That the accounts do not comply with the accounting requirements of Section 396 of the Companies Act 2006 and with the methods and principles of the 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
4. That there is further information needed for a proper understanding of the accounts to be reached.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in Ireland which is one of the listed bodies.
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.
John McCleary FCA
McCleary & Company Ltd Chartered Accountants Garvey Studios 14 Longstone Street Lisburn Co. Antrim
Page 5
**Independent Examiner's Report to the Trustees of Storehouse (NI)**
BT28 1TP
23 April 2024
Page 6
## **Storehouse (NI)**
## **Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 August 2023**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
435,337
Investment income
2
176
Other income
4,000
**Total**
439,513
**EXPENDITURE ON**
Raising funds
225,882
**Charitable activities**
Direct Costs
187,061
Support Costs
6,339
**Total**
419,282
**NET INCOME**
20,231
**Transfers between funds**
10
(16,789)
**Net movement in funds**
3,442
**RECONCILIATION OF FUNDS**
Total funds brought forward
212,668
**TOTAL FUNDS CARRIED FORWARD**
216,110|Restricted
funds
£
31,106
-
-
31,106
-
19,440
-
19,440
11,666
16,789
28,455
17,322
45,777|31.8.23
Total
funds
£
466,443
176
4,000
470,619
225,882
206,501
6,339
438,722
31,897
-
31,897
229,990
261,887|31.8.22
Total
funds
£
470,118
10
16,000
486,128
245,181
199,046
3,670
447,897
38,231
-
38,231
191,759
229,990|
|---|---|---|---|
The notes form part of these financial statements
Page 7
## **Storehouse (NI)**
## **Balance Sheet 31 August 2023**
|Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
7
11,590
**CURRENT ASSETS**
Debtors
8
2,112
Cash at bank
205,503
207,615
**CREDITORS**
Amounts falling due within one year
9
(3,095)
**NET CURRENT ASSETS**
204,520
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
216,110
**NET ASSETS**
216,110
**FUNDS**
10
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
45,777
-
-
-
-
-
45,777
45,777|31.8.23
Total
funds
£
57,367
2,112
205,503
207,615
(3,095)
204,520
261,887
261,887
216,110
45,777
261,887|31.8.22
Total
funds
£
6,327
1,212
226,144
227,356
(3,693)
223,663
229,990
229,990
212,668
17,322
229,990|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 8
**Storehouse (NI)**
## **Balance Sheet - continued 31 August 2023**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 23 April 2024 and were signed on its behalf by:
Mr Alan Roye Carson - Trustee
Rev Andrew Textor Smith - Trustee
The notes form part of these financial statements
Page 9
**Storehouse (NI)**
## **Notes to the Financial Statements for the Year Ended 31 August 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, 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 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial 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 be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost 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.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
|Improvements to property|- 4% on reducing balance|
|---|---|
|Fixtures and fittings|- 25% on reducing balance|
|Motor vehicles|- 25% on reducing balance|
|Computer equipment|- 25% on reducing balance|
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 10
## **Storehouse (NI)**
## **Notes to the Financial Statements - continued for the Year Ended 31 August 2023**
## **2. INVESTMENT INCOME**
|**INVESTMENT INCOME**|||
|---|---|---|
||31.8.23|31.8.22|
||£|£|
|Deposit account interest|176|10|
|**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets|31.8.23
£
4,101|31.8.22
£
1,487|
## **3. NET INCOME/(EXPENDITURE)**
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022.
## **5. STAFF COSTS**
The average monthly number of employees during the year was as follows:
## **6.**
|31.8.23
Management and Admin
5
No employees received emoluments in excess of £60,000.
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
Restricted
fund
funds
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
454,494
15,624
Investment income
10
-
Other income
16,000
-
**Total**
470,504
15,624
**EXPENDITURE ON**
Raising funds
245,181
-|31.8.22
5
Total
funds
£
470,118
10
16,000
486,128
245,181|
|---|---|
continued...
Page 11
## **Storehouse (NI)**
## **Notes to the Financial Statements - continued for the Year Ended 31 August 2023**
|**6.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES -**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES -**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES -**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES -**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES -**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES -**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES -**|**continued**|**continued**|
|---|---|---|---|---|---|---|---|---|---|
|||||||Unrestricted|Restricted||Total|
|||||||fund|funds||funds|
|||||||£|£||£|
||**Charitable activities**|||||||||
||Direct Costs|||||197,418|1,628||199,046|
||Support Costs|||||3,670||-|3,670|
||**Total**|||||446,269|1,628||447,897|
||**NET INCOME**|||||24,235|13,996||38,231|
||**RECONCILIATION OF FUNDS**|||||||||
||Total funds brought forward|||||188,433|3,326||191,759|
||**TOTAL FUNDS CARRIED**|||||||||
||**FORWARD**|||||212,668|17,322||229,990|
|**7.**|**TANGIBLE FIXED ASSETS**|||||||||
||Improvements
Fixtures|||||||||
||**COST**|to
and
property
fittings
£
£||||Motor
vehicles
£|Computer
equipment
£||Totals
£|
||At 1 September 2022|||-
11,062||7,440|2,157||20,659|
||Additions||21,612||9,954|21,000|2,575||55,141|
||At 31 August 2023||21,612
21,016|||28,440|4,732||75,800|
||**DEPRECIATION**|||||||||
||At 1 September 2022|||-|8,659|4,392|1,281||14,332|
||Charge for year||792||1,660|960|689||4,101|
||At 31 August 2023||792
10,319|||5,352|1,970||18,433|
||**NET BOOK VALUE**|||||||||
||At 31 August 2023||20,820
10,697|||23,088|2,762||57,367|
||At 31 August 2022|||-|2,403|3,048|876||6,327|
|||||||||||
continued...
Page 12
## **Storehouse (NI)**
## **Notes to the Financial Statements - continued for the Year Ended 31 August 2023**
|**8.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Social security and other taxes
Other creditors
Accrued expenses
**10.**
**MOVEMENT IN FUNDS**
Net
movement
At 1.9.22
in funds
£
£
**Unrestricted funds**
General fund
212,668
20,231
**Restricted funds**
Change The Lens
2,322
(514)
Storehouse Refurbishment
15,000
(1,776)
Van Purchase
-
13,956
17,322
11,666
**TOTAL FUNDS**
229,990
31,897
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
439,513
**Restricted funds**
Change The Lens
-
Storehouse Refurbishment
-
Van Purchase
14,306
Social Supermarket
16,800
31,106
**TOTAL FUNDS**
470,619|31.8.23
31.8.22
£
£
2,112
1,212
31.8.23
31.8.22
£
£
-
634
1,849
1,849
1,246
1,210
3,095
3,693
Transfers
between
At
funds
31.8.23
£
£
(16,789)
216,110
253
2,061
9,842
23,066
6,694
20,650
16,789
45,777
-
261,887
Resources
Movement
expended
in funds
£
£
(419,282)
20,231
(514)
(514)
(1,776)
(1,776)
(350)
13,956
(16,800)
-
(19,440)
11,666
(438,722)
31,897|
|---|---|
continued...
Page 13
## **Storehouse (NI)**
## **Notes to the Financial Statements - continued for the Year Ended 31 August 2023**
## **10. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|At 1.9.21
£
**Unrestricted funds**
General fund
188,433
**Restricted funds**
Change The Lens
3,326
Storehouse Refurbishment
-
3,326
**TOTAL FUNDS**
191,759
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
470,504
**Restricted funds**
Change The Lens
624
Storehouse Refurbishment
15,000
15,624
**TOTAL FUNDS**
486,128|Net
movement
At
in funds
31.8.22
£
£
24,235
212,668
(1,004)
2,322
15,000
15,000
13,996
17,322
38,231
229,990
Resources
Movement
expended
in funds
£
£
(446,269)
24,235
(1,628)
(1,004)
-
15,000
(1,628)
13,996
(447,897)
38,231|
|---|---|
continued...
Page 14
## **Storehouse (NI)**
## **Notes to the Financial Statements - continued for the Year Ended 31 August 2023**
## **10. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Change The Lens
Storehouse Refurbishment
Van Purchase
**TOTAL FUNDS**|At 1.9.21
£
188,433
3,326
-
-
3,326
191,759|Net
movement
in funds
£
44,466
(1,518)
13,224
13,956
25,662
70,128|Transfers
between
funds
£
(16,789)
253
9,842
6,694
16,789
-|At
31.8.23
£
216,110
2,061
23,066
20,650
45,777
261,887|
|---|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Change The Lens
Storehouse Refurbishment
Van Purchase
Social Supermarket
**TOTAL FUNDS**|Incoming
resources
£
910,017
624
15,000
14,306
16,800
46,730
956,747|Resources
Movement
expended
in funds
£
£
(865,551)
44,466
(2,142)
(1,518)
(1,776)
13,224
(350)
13,956
(16,800)
-
(21,068)
25,662
(886,619)
70,128|
|---|---|---|
continued...
Page 15
**Storehouse (NI)**
## **Notes to the Financial Statements - continued for the Year Ended 31 August 2023**
## **11. RELATED PARTY DISCLOSURES**
Payments to the staff pension scheme are made by Belfast City Vineyard Church. Payment is then transferred from Storehouse (NI) to Belfast City Vineyard Church. At 31 August 2023 £1,848 was owed to Belfast City Vineyard Church in relation to pensions paid.
Included in other income is £4,000 received from Belfast City Vineyard Church for their portion of the rent charge (2022 - £16,000). Belfast City Vineyard Church shares premises with Storehouse (NI).
All of the Trustee's of Storehouse (NI) are also Trustee's of Belfast City Vineyard Church.
Page 16
## **Storehouse (NI)**
|**Detailed Statement of Financial Activities**
**for the Year Ended 31 August 2023**
**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Gift aid
Donated services and facilities
**Investment income**
Deposit account interest
**Other income**
Other Income
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Overheads and Production Costs
Donated Goods
**Charitable activities**
Wages
Social security
Pensions
Operational costs
Subscriptions and Donations
Improvements to property
Fixtures and fittings depreciation
Motor vehicle depreciation
Computer equipment depreciation
**Support costs**
**Other**
Volunteer Costs|31.8.23
£
287,591
20,177
158,675
466,443
176
4,000
470,619
67,207
158,675
225,882
93,533
3,720
3,787
101,008
352
792
1,660
960
689
206,501
5,091|31.8.22
£
264,207
21,076
184,835
470,118
10
16,000
486,128
60,346
184,835
245,181
99,520
4,397
3,932
89,441
269
-
635
762
90
199,046
2,478|
|---|---|---|
This page does not form part of the statutory financial statements
Page 17
## **Storehouse (NI)**
|**Detailed Statement of Financial Activities**
**for the Year Ended 31 August 2023**
**Other**
**Governance costs**
Accountancy and legal fees
Total resources expended
**Net income**|31.8.23
£
1,248
438,722
31,897|31.8.22
£
1,192
447,897
38,231|
|---|---|---|
This page does not form part of the statutory financial statements
Page 18
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