The Bible Society In Northern Ireland
Statement of financial activitles
For the Year Ended 31 December 2023
Unrestricted
funds
2023
Restricted
funds
2023
Total
funds
2023
Total
funds
2022
Note
Income from:
Donations and legacies
Charitable activities
Investments
563.788
30.713
594,500
5,546
24,520
712,452
7.578
21.057
24.520
Total income
593,854
30.713
624,567
741,087
Expenditure on:
Raising funds
Charitablc activitics
Other expenditure
62.069
511N27
92.317
151
30,562
62,220
S41,989
92,317
66,641
606,543
85,946
Total expenditure
665,813
30,713
696,526
759,130
Net expenditure before net gains on
investments
Net gains on investrnents
Net movement in funds before other
recognised gainsl(losses)
(71.959)
171,959)
(18,043)
33,333
171,959)
(71,959)
15,290
Other recognised gainsl(losses):
Gains on revaluation of fixed assets
31,833
Net movement in funds
171.959)
(71,959)
47,123
Reconciliation of funds:
Total funds brought forward
Net movement in funds
1.048.597
<71,9591
1.048.597
{71,959)
1.001,474
47,123
Total funds carried forward
976.638
976,638
1.048.597
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 15 to 23 fomi part of these financial statements.
Page13

The Bible Soclety in Northern Ireland
Balance Sheet
As at 31 December 2023
2023
2022
Note
Fixed assets
Tangible assets
Investment property
12
13
133,786
266,666
135.576
266,666
400.452
402.242
Current assets
stocks
Debtors
Cash at bank and in hand
14
15
4.106
18,129
563,038
3.898
16,257
636.381
585,273
656,536
Creditors.. amounts falling due within one
year
(9,087)
(10.181)
Net current assets
576.186
646.355
Total assets less current liabilities
976,638
1.048.597
Net assets excluding pension asset
976,638
1,048,597
Total net assets
976.638
1,048,597
Charity funds
Restricted funds
Unrestricted funds
17
General funds
Revaluation reserve
17
740.006
236,632
811.965
236.632
Total unrestricted funds
17
976,638
1.048,597
Total funds
976.638
1,048,597
The financial Statements were approved and authorised for issue by the Trustees and signed on their behalf by.
Reverend C
ain Colin Taylor
Mr Howard Davey
Date: 21 May 2024
The n¢)tes on pages 15 to 23 form part of these financial statements.
Page 14

The Bible Society in Northern Ireland
Notes to the Flnancial Statements
For the Year Ended 31 December 2023
Accounting policies
1.1 Basis of preparation of financial statements
The financial statements 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) {effectNe 1 January 2019), the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act (Northern Ireland) 2008.
The Bible Society in Northem Ireland meets the definition of a public benefit entify under FRS 102.
Assets and liabilities are initially recognised at historical cost or transaction value unless othemise
stated in the relevant accounting policy.
1.2 Tangible fixed assets and depreciation
Tangible fixed assets are Initial￿ recognised at cost. After recognition, under the cost model, tangible
fixed assets are measured at cost less accumulated depreciation and any accumulated impairment
losses. All costs incurred to bring a tangible fixed asset into rts intended working condition should be
included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tsngible fixed assets less their residual value
over their estimated useful lives.
Depreciation is provided on the following basis:
Freehold property
Fixlures and fittings
10-25%
1.3 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for
obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of f￿ed
and variable overheads.
1.4 Income
AIS income is recognised once the Charity has entitlement to the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
1.5 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their settlement value with the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method.
1.6 Operating leases
Rentals paid under operating leases are charged to the Statement of Financial Activitie5 on a
straight4ine basis over the lease tem.
1.7 Grants to United Bible Societies
Grants to the United Bibles Societies are shown within Chartiable Activities. These grants are made
at the discretion of the Society for specific Scrrpture translation and distribution projects in various
countries. The grants are recorded in the financial statements of the Society on an accruals basis as
and when the amounts have been pledged.
Page 15

The Bible Society in Northem Ireland
Notes to the Financial Statements
For the Year Ended 31 December 2023
Accounting policies (continued)
1.8 Other grants
Other intemational grants are awarded at the discretion of the Trustees. The authority to award
grants not exceeding £12,500 has been delegated to the General Secretary. Al grants are recorded
in the financial statements of the Society on an accruals basis as and when the amounts have been
agreed.
1.9 Allocation of costs
Salaries are apportioned between costs of generating voluntary income, charttable activities and
governance costs based on an estimate of the time spent by each member of staff on those
activities. Other costs are allocated to the most appropriate heading.
1.10 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the
amounts payable by the Charity to the fund in respect of the year.
Income from donations and legacies
Unrestricted Restricted
funds
funds
2023
2023
Total
funds
2023
Total
funds
2022
Donations including special projects
Legacies
525.192
38,596
30.713
555,905
38,596
616,232
96,220
563.788
30,713
594.501
712,452
Investment income
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
Income from investment property
Interest and dividends received
19.359
5.161
19,359
5,161
19.740
1.317
24,520
24,520
21,057
Page 16

The Bible Society in Northern Ireland
Notes to the Financial Statements
For the Year Ended 31 December 2023
Income from charitsble activities
Unrestrlcted
funds
2023
Total
funds
2023
Total
funds
2022
Sale of Bibles
5,546
5,646
7.578
Expenditure on raising funds
Costs of raising voluntary income
Unrestricted Restricted
funds
funds
2023
2023
Total
funds
2023
Total
funds
2022
Salarles
43.868
18,070
131
43.868
18,221
43,144
23,375
122
Fundraising materials and postage
Advertising
151
62.069
151
62,220
66,641
Analysis of grants
Grants to
Institutions
2023
Total
funds
2023
Total
funds
2022
Grants to Unrted Bible Societies
Home based projects
439.845
41,368
439.845
41.368
518,202
27,715
481,213
481,213
545,917
Page 17

The Bible Society in Northern Ireland
Notes to the Financial Statements
For the Year Ended 31 December 2023
Governance costs
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
Salaries
Rent. rates and insuran
Audit fees
Legal and other fees
Repairs and reneV￿lS
Bank charges
Office costs
Photocopier- operating lease
Telephone
Heat and light
Sundry Expenses
Depreciation
40,899
3,026
2,200
600
317
1,873
2,116
857
40.899
3,026
2.200
600
317
1,873
2.116
857
37,143
3.170
2.100
50
4,844
1,689
2,589
816
416
226
3,443
1.582
3.639
226
3,443
1.582
3.639
3,854
1.219
2.737
80,778
60,778
60,627
Charitable activities - other costs
Unrestricted Restricted
funds
funds
2023
2023
Total
funds
2023
Total
fijnds
2022
Salaries
General Scretary's expenses
Purchase of Bibles
Postage, printing and stationery
Computer consumables
Travel and accommodation
Website rebranding
Donor care
70.131
228
3.971
70.131
228
3,971
864
5.602
4.489
1.102
5.930
68,263
196
3,324
1.277
5.948
1.084
485
5.602
4,489
1.102
5.930
5.369
92.317
92,317
85.946
Page 18

The Bible Society in Northern Ireland
Notes to the Flnanclal Statements
For the Year Ended 31 December 2023
Staff costs
2023
2022
Wages and salaries
Wages and salaries
154,898
148.549
154.898
148,549
The average number of persons employed by the Charty during the year was as follows:
2023
2022
No.
Employees
No employee received remuneration amounting to more than £60,000 in either year.
No Trustee received any payment or reimbursment of expenses.
10. Taxation
The Society is recognised as a charity by HM Revenue and Customs under referen￿ XN46187. Its
activities are therefore exempt from taxation.
11. Auditors, remuneration
2023
2022
Fees payable to the Charitys auditor for the audit of the Charivs annual
accounts
2.200
2,100
Page 19

The Bible Society Sn Northern Ireland
Notes to the Financial Statements
For the Year Ended 31 December 2023
12. Tangible fixed assets
Freehold Fixtures and
property
fjttings
Total
Cost or valuation
At 1 January 2023
Additions
133,334
39,891
1,849
173,225
1,849
At 31 December 2023
133,334
41.740
175,074
Depreciation
At 1 January 2023
Charge for the year
37.649
972
37,649
3,639
2.667
At 31 December 2023
2.667
38.621
41,288
Net book value
At 31 December 2023
130,667
3,119
133,786
At 31 December 2022
133.334
2.242
135,576
Two thirds of the value of the property is treated as investment property. reflecting the apportioned use of
the building belween charitable business and third party rental.
The Charity has adopted a policy of revaluation for tangible fixed assets. Had these assets been
measured at historic cost, the catrying values would have been as follows:
2023
2022
Cost
Accumulated depreciation
133,333
(56,014)
133,333
(53,347)
77,319
79,986
Page 20

The Bible Society in Northem Ireland
Notes to the Financial Statements
For the Year Ended 31 December 2023
13.
Investment property
Freehold
investment
property
Valuation
At 1 January 2023
266,666
At 31 December 2023
266,666
The investment property was valued by Robert Wilson Estate Agents in May 2023 on an open market
value for existing use basis.
14. Stocks
2023
2022
Gwds for resale
4.106
3.898
15. Debtors
2023
2022
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income
175
4.711
13,243
4.939
11.318
18,129
16.257
16. Creditors: Amounts falling due withln one year
2023
2022
Other Greditors
Accruals and deferred income
74
10,107
9,053
9,087
10,181
Page 21

The Bible Society in Northern Ireland
Notes to the Financial Statements
For the Year Ended 31 December 2023
17. Statement of funds
Statement of funds - current year
Balance at
31
December
2023
Balance at 1
January
2023
Income Expenditure
Unrestricted funds
General Funds - all funds
Revaluation reserve
811,965
236,632
693.854
{665.813)
740,006
236,632
1,IM8,597
593,854
(665,813)
976,638
Restricted funds
Restricted Funds - all funds
30.713
(30.713)
Total of funds
1.048.597
624.567
1696,526)
976,638
18. Reconciliation of net movement in funds to net cash flow from operating activities
2023
2022
Net incomelexpenditure for the year (as per Statement of Financial
Activittes)
(71.959)
15,290
Adjustments for:
Depreciation charges
Decreasel(increase) in stocks
Decreasel{increase) in debtors
Increasel(decrease) in creditors
Increase in fixed assets - additionslrevaluations
3,639
12081
(1.8721
(1,094
11.849
2,737
190
23.931
6,338
(35,333)
Net cash provlded byl{used in) operating activities
(73,343)
13,153
Page 22

The Bible Society in Northern Ireland
Notes to the Financial Statements
For the Year Ended 31 December 2023
19. Analysis of cash and cash equivalents
2023
2022
Cash in hand
563.038
636,381
Total cash and cash equivalents
563,038
636,381
20.
Analysis of changes in net debt
At31
December
2023
January
2023 Cash flows
Cash at bank and in hand
636.381
(73,3431
563,038
636,381
{73,343)
563.038
21. Operating lease commitments
At 31 December 2023 the Charity had commitments to make future minimum lease payments under non-
cancellable operating leases as follows..
2023
2022
Later than 1 year and not later than 5 years
Not later than 1 year
864
816
22. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under FRS
102.
Page 23