The Bible Society in Northern Ireland STATEMENT OF FINANCIAL ACTIVITIES for the financial year ended 31 Dember 2024 Unrestricted Funds 2024 Total Unrestn¢ted Restricted Funds Funds Funds 2024 2023 2023 Total Funds 2023 Notes Income Donalions and legacies Chantsole aciivib.es GTan15 IrorTb governments and other eo-funders Investments 600,083 600.083 563.788 30.713 594.501 4,989 4,989 5,546 29,891 29.891 24 $20 24.520 Total intom& 634.963 634.963 624.567 Expgnditur• Raising fijnds Charitable activitses Other expenditure 56,416 480.470 89,147 56,416 480,470 89,147 62.070 511,424 92,318 151 30,562 62,221 541,986 92,318 Total Expenditure 626,033 626.033 6fj5.812 30,713 6,525 Net Incomel{expenditurel 8,930 8,930 171.9581 171,9581 Transfers betsveen funds Net movement in funds for the financial year 8.930 8.930 171,9581 171,9581 RebonLlliatlon of fuiKts- Total tunds beginning of the year 976.639 976,639 1.048.597 1.048.597 Total funds at the end of the year 985,569 985,569 976,639 976.639 The Statement of Finanual Activitses Includes all gains and losses recognised in the finanryal year. All incDmg And XndItre relate lo o)ntinuino athvities. The notes on page5 15 to 21 fi)rm part of Ihe firkaniyal 51alemen15 12
The Blble Society in Northern Ireland BALANCE SHEET as at 31 Decombèr 2024 2024 2023 FIx8d A¥sets Tanglbl8 397242 4LTr).452 Cuir•nt Asset8 Slocks Dabtors Cash 81 bart and in hand 10 11 12 900 15,381 $76.121 4,106 18,129 563,038 592.402 585.273 CrOr&. Amounts falung du• wlthSn one y•ar 13 14,0751 19,0861 N•t Curront As8•ts 588,327 576,187 Total Ai¥•ts1osB Cuff•nt Uabllltles 985,569 978.839 Funds Designated funds Iunreslriraedl G8n8r81 fvnd lunrestrktedl 236,631 748.938 236,631 740,008 Totsl fut7ds 16 985,569 978,639 the Board of Tru8t••s and authorfsad for Issuo on 2 Juty 2025 and 81gn•d on Its b•half by Mr Trustaa Ilr John si•wan Trust The Mle5 F*go$ 15 10 21 f(rfm ofts sla8rnwts 13
The Bible Society in Northern Ireland STATEMENT OF CASH FLOWS for the financtal year ended 31 Dember 2024 2024 2023 Notes Cash flows from operating actlvttles Net movement In funds Adjustments for. Depreciation Interest receivable and Similar income 8.930 171.9581 3,584 18,7321 3.639 15.1611 3,782 173,4801 Movements in Wofking caprtal". Movement in stocks Movement in ttebloTS Movemènt in creditors 3,206 2,748 {5.0111 14. 1061 118.1291 9.086 Cash generated fromllused in} operations 4,725 1136.6291 Cash flows from investing activitios Interest reiVed Payments lo acquire tangible asset5 ,732 {374) 5,161 11,8491 Net cash generated from inveslrnenl a1VitieS 8.358 3.312 Nèt increaselldecrgas&l in cAsh and cash Èquivalonts Cash and cash equivalgnts at the beginning ofthe ygar 13,083 563,038 183.3171 646.355 Cash and cash equivalents at the end of the year 12 576,121 563,038 14
The Bible Society in Northern Ireland NOTES TO THE FINANCIAL STATEMENTS for the financial year end 31 Dember 2024 GENERAL INFORMATION The Bible Society in Northem IrelarKJ is a charTty incorporated in Northem Iteland. The registered Offi of the charity Is which is also Ihe prinopal pl ol business of the charity The financial slalemenls have been presented in Pound 1£> whKh is also the funlOn21 cUencY ol the charity. SUMh7AR Y OF SIGNIFICANT ACCOUNTING POLICIES The fcdlowing accounting poliaes have been applied consistentsy in dealing with items which are conSided material in relatson to the tharity'5 financial statements. 8asl of prèparation The financial statements have been prepared on the going cOnM basis under the historical cost convent'on. modified to include rtain ttems at fair valuc. The financial statements have been prepared in a¢wrdan¢e with the Slalemenl ol Recommended practi ISORPI "Accountsng and Reporting by Charities preparing their acGounts in aGG0rdan wilh the Finanaal Reportyng Stsndarrj applicable in the UK and Republic ol Ireland FRS 102" As perniitted by the Companies Act 26. Ihe chanty has varied the stsndanl foThnats in that act for the Slalemenl ol Financial Activiks and the Balan Sheet. Departures from the standard formats are lo comply with the requirernents of the Chan"e5 SORP and are In Complian with sèction 4 7. 10 6 and 15 2 of that SORP ststement of compliance Th8 financial statements of the charity for the financial year endcd 31 Dcwmbcr 2024 havc bccn prcparcd on the going concem basis and in ac£0(dan wrth the Statement of Recommended Practi ISORPI "Accounb'ng and Reporting by Charth"es Preparing their accounts in accordance with tlie FirFanGial Reporting Slandaid applicable in the UK and Republic of IrelaTrJ FRS 102.. Fund accounting The following are the categorie5 of fvnds maintained". Restri¢t?d funds Reslncted funds represent income received which can only be used fDr partlar purrK)ses. as specified by the donoT5 Such purposes are within the overall objeth'ves of the chanty. Unrgstricted fund5 Unrc4ltrictcd fttnd5 Consist of GotKral and Deoignated fund3. - Geneial funds r8piBsent amounis wh¥Gh dl¥ ¥xwNJ¢iJlE Èil Vi¢ ol the boaffl. in furtheran of the objectives of the charity. - DesignaEed tynds comprlse unresm.aed fvnos that tne boaro has. at rts (Jiscretyon. set aSe for parbcular purposes These designations have an admini5trab.ve purpose only. and do not legally restrict the board's discreln to apply the fund. Income Income is recognised by tnclusion in the Statamont of Financial Aciivitias olY wh8n the charity 1$ legally enltued lo the income. perforrna[7 condib.ons attached to the Ilemlsl of income have been met. the amounts involved can be measured with 8ufficient liability and it Is probab that the incorne will be received by the charity Income from charitsble aclivilies Income trom charitable activities IncILe InCce eamed ftThn the supply of services under contractual arrangements and from perf0mlan related grants which have Cond.0nS Ihal specify the provision of particular setw15 lo be provided by the charity Income froffl government arKJ other cTrfvnders is recognis&* when the charity is legally enlitted lo the income because il is fvjlfilling the condibons contained in the related funding agreements Where a grant Is rece(ved In advance. its recognib.on is deferr and incjuded in rrpdilors WherFa. g.ntrtlgment cmirs fOre ineome is r1ved. Il is accru•Y in debtors. Grants from govemments and other eo lunders typically includc onc of thc following types of conditions." PerfomanGe based conditions". whereby the charity is contractually enbtled to fuiidii)g ulily lu ilie ¥xteiFt tti¢aL the core objeth'ves of the grant age[ent are achieved ere the charity Is meeting the core objecb've5 of a grant agreement, rt reccxjnises the relate(J expen(Jiture. to Ihe exteni that li Is reimDursaDie Dy tne (Jonor. as income. 15
continued The Bible Society in Northern Ireland NOTES TO THE FINANCIAL STATEMENTS ft)r the finanual year ended 31 Drnber 2024 -rime based condib"ons'. whereby the chanty is contractualty entslled to hjnding on the condition that it is utilised In a particular Feriod. In these cases the charty recognises the income lo the extent il is ub'lised wlhin the penod speafied in the agreement. In the absen of such conditions. assuming that r1p1 is probable and the amount can be reliably measured. grant income is recogni5ed onee the chanty is nob.fied ol enb"Ilement. Grants re¢eiv&l towards c3pilal expenditure are credited to the Statement of Finanoal Actiwties when reiVed or retsivable. whichever is ealer Expenditure Expenditure ig analysed betwéell eosts of charilable activits.es 2nd raisin9 ftjnds Tho Costs of 8ach activrty ala separately accumulated and disclosed. and analysed according lo their major components. Expenditure is rgcognised when a legal or contru¢tive obligaknon exi- -ts as a result of a pa1 cvont, a transfer of economic benefits is required in sethement and the amount of the obligation can be reliably measured. Support costs are those hjnclions that assist the wod( of the chatity bul Gannot attributed lo one activity. Such costs are allocated to activitres in propo"On to staff ty.me spent or other suitable measure for each acb.vity Grants to United Bible Societies Grants lo the United Bibles Societses are shown within Charitable Acb"vitres. These grants are made at the discretion of the Soaety for specific Scripture translabon and dislrFbubon projects in various countries The grants are recorded in ihe finanaal statements of the Swety on an acuuals basis as and when the amounts have hgp.n plÈxtgpd Tangible fixed asset¥ and depreciation Tangible fixed assets are slated at cost or at valuation, less accumulated depreei21ion. The charge to LleyieLldliuri LdlLuldlEd lu wiite vff Ilig uiFgiri<il w5t oi valuation of tangible fixed assets. le5S their estimated residual value. over their expected useful lives as follows.. Land and buildings freehold Fixtures. fittings and equipment 2% Straight line 10- 25% Straight line Invèstmgnt properties Investment proporty is property held orthor to oam rgntal incomo. or for capital appreaation (including fvjtu re-developmenll or for both. but not for Sale in the ordinary course of business Thw thirds of the value of the property 13 treated 83 invesbment property. reflectin9 the appOoned Lsse of the building betéeen charitsble business and third paty rental. Investment propety is inibally measured at cost. which Indudes the purchase cost and any diredy attributable expenditure. Investment propeity Is subsequenlly valued al rts lair value al each reporting date, by professional external valuers. The difference betsveen the lair value of an Investment property al the reporting ale and Ils carrying value prior lo the valuabon is rec(xJnised In the Statement of Financial Athwb"es as a lair value gain or loss. Any gain or loss on disposal of an Investment proDeity (calculated as the differen beleen the nel proceeds from disposal and the r2rying amount of the Item) Is reccon1s in the Ststemenl of Financial Aebvitiès Inventories Inventories are stated at the lower of cost and rtet realisable value. after making due allowan for obsolete an(J slow momng items. C051 Includes all costs incurred In Ihe nomial course ol Dusiness in bringing them to their present loc3lion arid condition. Invenloiies comprise fundraising malellals. It is not considered practicable to value inventories of unsold donated goods al the fin8nc¢al year end Debtor5 Debtors are recoonised at the settlement amount due after any discount offered Prepayments are valued at the amount prepaid net of any tde discounts due. Income recognised by the charity from govemmenl agenues and other co-funders. blrt not yet reIed at finanthal yèaT end. is included in debtor5. Cash at bank and in hand Cash al bank and in hand comprises cash on deposit al banks requiring less than three months nots'ce of iLhdi"awal. 16
contsnued The Bible Society in Northern Ireland NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 Dernber 2024 Taxation and deferred taxation No current or deferred laxalion anses as the charrty has been granted charitsble exemption by HM Revenue and Customs undef efen XN46187. Itreeoverable valued added tax is expensed as incurred. Deferred lax is cOgnised in respect of all timing differences that have originated bul not reversed at the balance sheet dale wheo transath.ons or events have occuffed at that date that will result in an obligation to pay mole tax In the future. or a right to pay less tax in the fvture. Timing difference5 are temporary differen5 been the charity's taxable Drofits aThJ its fesults as slated in the financ( statements. Deferred lax is measured on an uftdiscounled basis at the tax rates that are anb"cipated lo apply in the periods in which the liming differen5 afe expected to revet5e, based on tax rates and laws that have been enacted or ¥ub3tsntively enacted by the balan sheet date INCOME DONATIONS AND LEGACIES Unrestricted Restricted Funds Funds 2024 2023 Donat'ons Legacies 501.052 99,031 501.052 99,031 555 905 38,596 600.083 600,083 594,501 CHARITABLE ACTIVITIES UnSt1¢ted RestslGted Funds Funds 2024 2023 Grants from govemments and other co-funders: Income from charitable actsvitses 4.989 4,989 5.546 INVESTMENTS Unrestrlcted Restrlcted Ftsnds Funds 2024 2023 Income from investment property Interest and dividends receiv 21,IS9 ,732 21,159 8,732 10.359 5,161 29,891 29.891 24,520 EXPENDITURE RAISING FUNDS Direct Costs Other Costs Support Costs 2024 2023 Fundraising Materials & Postsge Salaries Adverbsing 20.313 35,966 137 20,313 35.966 137 18.222 43.868 131 56,416 56,416 62.221 CHARITABLE ACTfviTIES Direct Costs Other Costs Support Costs 2024 2023 Expenditure on charitsble activrles 414.986 6S.484 480.470 541.988 17
continued The Bible Society in Northern Ireland NOTES TO THE FINANCIAL STATEMENTS for the financial year gndgd 31 Dember 2024 OTHER EXPENDITURE Dirnct Costs Support Co$ts 2024 2023 Costs Salanes General Secretsrfs expenses Purchase of Bibles Postage, Dnnling and ststsonery Computer consumables Travel and accommodation Website rebranding Donor carc 70.906 36 978 407 70.906 36 978 407 5,654 3.193 1,784 6,189 70.132 228 3.971 864 5,602 4,489 1,102 S,930 3,193 1.784 6.189 89.147 89,147 92,318 SUPPORT COSTS Charitable Aetivities 2024 2023 qijndry Exr.n*9.$ Repairs and renewals Salaries Photocopier- operatirKJ lease Rent. rate5 and insuran Bank charge5 Legal an(J other fees Depreciat'on Audit lees Heat and Light Telephone Office costs 1,530 814 36.247 555 3.295 1.599 7,41fj 3.584 2.200 2.581 770 4.903 1.530 814 36,247 555 3,205 1,599 7.416 3,584 2,200 2,581 770 4.903 317 40,899 857 3.026 1,873 600 3.639 2.200 3,443 226 2.116 65.484 65.484 60.778 ANALYSIS OF SUPPORT COSTS 2024 2023 Sundry Expenses Repairs and renewal$ Salaries Photocopier- operating lease Rent. rates and Insuran Bank charges Legal and oth8r teos Depreciaton Audit lees Heal and Light Telephone offi costs 1,530 814 36.247 555 3.28S 1,599 7,416 3,584 2,200 2,581 770 4.903 1,582 317 40,899 857 3,026 1,873 800 3,639 2,200 3.443 226 2.116 85.484 60.778 NET INCOME 2024 2023 Net Incomg 1$ $tst8d aftgr chargingllcrgditing): Dcprociation of tangible a-- Auditorfs remuneration.. audit serviS 3,584 3.630 2,200 2,200 18
Conb'nued The Bible Society in Northern Ireland NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2024 INVESTMENT AND OTHER INCOME 2024 2023 Rent re1Vable- other ino)me Bank irrterest 21,159 8,732 19.359 5,161 29.891 EMPLOYEES AND REMUNERATION Numbsr of omployg0s The average nurnr of persons employed linduding executNe trnsteesl dunng the financial year was as follows. 2024 Number 2023 Number Employees The staff costs compnse.. 2024 2023 Wages and salari•s 143,2S6 154.898 TANG18LE FIXED ASSETS Land Investsngnt FtxtUfg5. buildings properties fittings and trgehold oquipment TDtsI Cost or Valuation Al 1 January 2024 Additions 133.334 41,740 374 441,740 374 At 31 Dember 2024 133.334 42.114 442.114 Depreciation At 1 January 2024 Charge for the financial year 2.C457 2.667 38.G21 917 41.2811 Al 31 Dember 2024 5.334 39.538 44.872 Net book value At 31 Dember 2024 128,000 266,666 2.576 397,242 At 31 December 2023 130.667 266 666 3,119 400.452 The pro¥ti1y al 27-29 Howard Street. Belfast. BT1 6NB was revalued by an Independenl estate agent on 23rd May 2023. The Independent valuer visited the propety and based the valLtalion on the current open market p ai the tsme Assumpnons were made as to all Ihe normal planning and building conirol requiremenis being in pla, and on the basis that no éelailed structural or land survey had taken pla prior lo the valuation The carying amount of the property that would have been recognised under the historical cost model would be £74,652 (2023- £77.3191 10. STOCKS 2024 2023 Finished go(xJs and goods for Sale 900 4.106 19
continued The Bible Society in Northern Ireland NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2024 DEBTORS 2024 2023 Trade debtors Taxation and social security costs (Note 141 Prepayments and accnted Income 175 1,082 14,299 17,954 15,381 18,129 12. CASH AND CASH EQUIVALENTS 2024 2023 Cash and bank balances Cash equIVants 495.344 80,777 79,015 576,121 563,038 13. CREDITOR5 Amounts falling due within one year 20Z4 2023 Taxation and social secunty costs INote 141 Accrua15 and defeffed income 4,075 9,052 4.075 9,086 14. TAXA TION AND SOCIAL SECURITY 2024 2023 Debtors: VAT 1,082 Creditors: VAT 15. RESERVES 2024 2023 Al me Deginning of U)e year surplu(DefieltI lor the financial year 976,639 8,930 1,048.597 171,9581 At the end of the year 985,569 976.639 16. FUNDS 16.1 RECONCILIATION OF MOVEMEKf TN FUNDS Unr•strict•d Funds Total Funds At l January 2023 Movement during the financial year 1.048.597 171.9581 1,048,597 171,9581 At 31 Decernber 2023 Movement dLfring the financial year 976.639 8,930 976.639 8,930 At 31 [1mber 2024 985,569 985,569
contsnLted The Bible Society in Northern Ireland NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 Dernber 2024 16.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance 1 January 2024 Income Expgnditure Transfers Balante between 31 Decembor funds 2024 Unrestrictsd fvnds Revaluaiion Resetve Unrestricted General 230.031 740.008 236.631 748,938 634,963 626.033 976.639 634.3 {626,0331 985.569 Total funds 976.639 634.963 626.033 98S,569 18.3 ANALYSIS OF NET ASSETS 8Y FUND Fixed assets - charity use Current assets Current liabilitias Total Unrestricted general fijnds 397.242 592.402 14,075) 985,569 397.242 592.402 14,0751 985,569 17. POST.8ALANCE SHEET EVENTS There have been no stgnificanl events affecb.ng the Charity Sin the financial year*nd. 18. AUDITOR'S REMUNERATION Fees of £2,200 were payable lo the chantys audilof, Daty Park & Company Ltd lor their work in the current year. The previous aLtdilors, ASM IB} Ltd. were paid £2.200 for their work in the 2023 year. 19. TRUSTEE REMUNERATION No Trustee received any payment for ath.ng as a Tnjstee during the Cu[nt or preceeding financial year Reimbursement of travel èxpenses totalling £27.20 was paid during the current year to one Trusteg. 21