Pag• 5 Exchange Church Belfast Company Llmlted by Guarantee Stat•mont of Financial Activiti (including incomo and gxpgndituro account) Year ended 31 December 2019 2019 2018 ToL•l fund• Total liinds Incom• and •ndowm•nts CknatK)ns legacie$ 92.218 53 7,900 92,216 53 7,900 83.639 35 5,040 Olh•r irKom• T•i•l In¢¢m• 100.169 100.169 88.714 Exp•nditur• Exwridiluiv vii cliiilablll Tot•1 •xpndllyr• 85,188 8S,188 75.81 85.168 75.816 N•1 In¢om• •nd n•1 mo¥•m•ni In fund• 14,981 14,981 12,898 A¢¢oDclll•tion ol lund• Trjldi luiiJ. L5uU JI,.1 .u1[ Total funds carrmd lorward 4E.20B 48.208 63.189 63.189 48,20 Th¢ $lalom¢nl ol lingncl acliYilKs Indu[?1 all gains aFMJ $# Ivcogni$¢d In y. All w)¢oiiie ond expaUle der li¢)m wntsnu9 acbviiies ThÈ nol•• tyi p•sie> 7 10 12 torni p•rt ol IPee lIn•I•l l•lennts.
Exchange Church Belfast Company Llmited by Guarantee Statement of Flnancial Po8i¢Son Pay? 6 31 December 2019 2019 2018 Flx¢d TgIble fixed ass•ts 13 2.)74 476 Curv•nt thbtof Ca7 dt tsk •rKI in hand 14 5.632 68.477 5,2G2 43,812 64,109 49.074 Credltor4: mounts f•llln9 du• within on• y••r N•t curr•nl M%•ts Is 3,294 1.342 60,815 47,732 Tolal •u•ts l•u ¢urr•nt li•bllltl•• 63,189 48.208 63,189 48,208 Funds ol th• ch•rlty Unr.8lrKled lunds 63.189 48.2Q8 Total ehirlty fiinds 16 63,189 8208 For the y•ar enOIiig Jl t)gc•mber 2019 IPW charty WBS e.ntrtled io 0x9mptK from tsn<Joi wcbJn 4 KT vl th• CompgnLes Acl 20 i•latsng io wilall Th• menibefs r•qLiired the 6[PanY to obl8in an oudrt ol rt• fin4nrwl Sla111$ loi Ihg Thp dir•.ctnrs ackn¢)wl¥rJg• Ih•ii iespoiisibiliis lor conN)lying willi IliL iequir•m•nls ol the A wrth to accouniin9 •rKI Ihe prep01aln ol fin•nciMI staiemenls. Irthe lIncial slvjlemonls h4v• boen wepared Kcordanceb wilh prvvwiw• WpIub lo companits lo small corrip#ni•s' rtyime TIKJ¥4J I4cLaI tMen1$ vrnre approved by Ihe twrd DI Iwusl•s and wllK¥i¥wl for l•w• on 21 Sepl8mt 2020. •nd are 8Jned on b•half ol Ihe board by IAr P Jordon Trust. MIAGTO Truslefr Th• noto• P•9B¥ 7 to 12 lomi p•rf fincIlI •lat*NYnts.
P•g• 7 Exchange Church 8elfast Company Llmited by Guarantee Not•8 to th• Financlal Slaternonts Year ended 31 Decomber 2019 G•nrnl Ink+rniallo The Char * a PLthk enlty arhj a pri410 limrted by guarantéé. f•g45torod in Norlh•rn Ireland and a rogi¥lered charty in Northem IrOnd. Th• addrnu ol the regisreO offte 1$ 179-187 Alb•rtbrp Road B¢rfa$i. BTS 4PS Sl•twn•n¢ ol compll•n¢• Theié financial stalemènls hav• ben prp.rred In c(NnpliarKe wrth FRS 102, The Financial Reporiii)y StAndord 8r¢Jliuble in lh• UK and the Republic of Irlaftd'. tho St4t•ment ol R¢commendwJ Prnctic• •pplicJJbl io chai115 woparmg th•ir •ccounis in ac¢ordan¢e with Ihe Fin•ncial Reporting Starxl4fd applicable in the UK and R6publiG ol li•lBnd IFRS 102) IChwiiits$ SORP IFRS 10211 Jnd the CompW# Act 2006 Accountlg polkl BMI• of pr•p•ration The financial 5talem•nt• h•¥e been prépared on lh• hiiloTical CINI hsis. as m¢oilityJ by the re¥JKJatn ol coilam lintl and Iiatmlibes and iDY•sbn•nl propertffjs rasUe ai lail va& through inc(rfne or •Pditur+. Th¢ fiiièiKidl >ldluiii¥iiL& VlkP&i"éd Hi fAriliiiy. bwlila Ui¥ IuibLlional curr•ncy of 411¢ wihly. Golng ¢on¢•m Th¥vg •r• rKTr mateTTral lilKertalts Al)uul thq ch•rlty'J to ¢onlve Judg•m•nty •nd k•y of ••tiffl4tion uThc•rt•inty Th•. prepaiaiivii ul Ilip linjnc.l qtnl•.menls it4¢Jiivs Iiwii¥Jemont lo make luttgements. pstirnfp .2nd ?tqllTI)PIITSllt Iheil th• amniinlr rppDrtpd The%h iè conlinu•lly rYièwert 8nd art bas¢.d vri ¥xperwnc• •rbd other factors. Ir1lIng extIonS ol lulure evenl$ that ar• bdieved lo be •Sonabl un(Ivr the rumlanCe1. Fund a¢¢ounting Unrosiiictod lunds Af• &v•ilJble lor ulo al th'scrntion ol the tfU4tees lo funhei any ol Iho ch8fity's purpos86. OtSl9n41od funds are unreJln'ci¢d funds e*M••0 by th• trublwa for F1ClI1 fLrturv project commrtmenl Rellfthd lund$ 419 S1'•Cl•d to restrlIonS on Imlr •xpwdilur• d•d•r•d ty the dmor Or Ihiwgh the temis of 4)p•al. and irrto one ol I) sub classes. r¢SIrtsd inc¢m• lunth or eiid(ywinvnt lurKIB_
Exchange Church Belfast Company Limlted by Guarantse Notes to the Financlal Statements (¢tythN Year •nd•d 31 Decembor 2019 P¥9• 8 Accounting polklo (eom Incoming r••our¢ I Incomm9 resou15 are included in thè 8tat•nnt of financial actNities when entrtknni h•ts pass¢d lo the ch•nty.' Il 1$ prDbable Ihgt Ihe econcffjic bènefrts a$$ocièted with the transaCn will fi( lo Uiv Gh4brty 8nd Ihe amounl con be relmbly mo•sur•d The folknwity specific •re appjjed Pa¢$jr Gat•ww ol xknne.. Income from (kwwtKin• or 9r#nis Is 1gcognis•d when IWe Is evNl•vKe of enlrtkmenl lo I Qift, 18 ryof)abk and ils amouni can rn•asufed reliabty. cy income is ¢091•d when rec0 Is piobabl• niill*ythi Is tslIh•d InrAMn• Irn donaled gocrfJ6 is .sUIL¥j 41 th? flir vaKJe ol thè 9rAidA unl•.ss th 1$ impractlLal to mèp¥vre relk4bly. in which c4$e Ilie valLSB is dprivpd trom t cost to Ihè dtsnt)r or the e8lim•t•d r•a•le value Donal•d facilit an¢J servK•s are recoonistd th• ¥ccounts when ftcwvqd il th• v4lue c40 bB fqlwbty msure No •mountB •re included lor the ¢¢ntribukn ol general ¥olunte•rs
icom¢ from contrxts for iupply of i* r•co9nrned wth the d•liv•ry of Ihe
r.oiiirdilv¢J wivui This 4 i1%¥111j a• unre$iric(thl luii¢Js un•as Ihere WlhL¢ilLtual requwement for li Ic be sp•nt ori • p•rt¢ul¥T puw a1 rebjrrxd rt vn•p•nt. in whth ¢• li may be re9Brded as ro51iKted. R••oure4• •¥p•nd•d Éxperbdthirp. i ree£KJnwl on frn basis a5 a iq Ineiirned lypenthture inr.Iiirle.s ipry VAI whith cannot be fully rO¥•rd •Trd Is cl¥¥%rfiod under headings ol tho •l•t•ment of financial tthilie5 to whh il r¢lalos. txwidilure on ii?Isiiiu Iv114Js inciuoè Ihe ¢v¥ts' vl all tundiNisin9 ac1¥, ov4nt%, non<haTrlabl• trading •th'¥rts. and tho ol (knnaied gocKI¥ ebKFwYlrtur¢ ori ch•ril•bkn acilw19 Indudrt all e041A i1111[0 tly ¥ chanty in undenaking clivitieB thAT fiinher 11$ ch•rit4bl• 14ims lor lh8 berbth ol its bp.nefriafies, Including thoye 6uppoil 1$ and costs r¢l•iing to th• wvftmance of IhB charty aPFMir1ned lo chwilab other expendiluie inclLKlÈs 811 exp6¥1dilufe Ihal 13 neither rela1 to raiwn9 funds lor the ch•rity nor parl ol 11$ oxpendrture on charilable actsv.•S. All costa Are 8llocalod ID •xpendttiJr• cotegoiios retlvcting the use ol thb rgsourcA Dlrèd to$ts attribulablu lo a single activity ale allocated direcily 10 Ihal •Etwtty Shared cosls ar6 aPPOrtionod Lwlween the ac11b9¥ th•y contrile lo on a reasonable, jusb'fiablo and nlen1 basi$. T•nglbl• as8•t• All fix aSSVts ir• inilialty rexordod Go•1
Pag• 9 Exchange Church Belfast Company Limiled by Guarantee Nots8 to tho Financial Ststsmonts (cwJthR¥•¢ Year ended 31 December 2019 Accounllng polkl•• Depr•cl•ilon D•vlats ts cakulaied $0 as w(rté off th• ¢osi N valua) of a$sei. less rts residu•l v•lfft. over the useful ¢¢onomt lrfe ol th•t asw Js folbw•.' FLxlur¢$ aj fittinps 15% Strah1 hne Impabrm•nt ol f•d aM•t• A rnvi•w lor indutc of vnwirm•nl is cwriid out 41 •4ch r•FQrtmg dal•. with rwAJv•rabl• amount boing esbmaled whoig SLKh IndKalors OX1. iho Carryi value oxceeds th• recoverab arnounl, the asset ts Impaired ac£¥)rdmgly Pr mpwrmenls are W•0 for possiblè rèversal At reFxwling d81• For the puq)oMJ ol imp•1fml lesM9. Yhen il i• nol pos11)Ki lo •stim•t• th• r•coY•rnbl• amount of bn indwJdu•l assel, an •&timat• li m•J• of th• r•cOV•rab ar1nI ol th• C4sh-generaling unil lo whKh thg 4SSOt belon. Tho casli-gonoiabiw 4Jnil Is the small¢i 111rfoble group ol assols Ihal Includes the asset and oenerales cash Inflows Ih•i l•r9ety Ir#1¢h1 ol Ihe c••h inlkms frcrfD asse1$ or grouw of •89el$ kui 4111WdiiiiKsiiI ul kswJi51. Iliid wudwiu dwuiivd iii bu¥11>) ¥viiibiiwlivii i¥. 11 acquisiuon dale. allocated 10 each ol Ihe 9eneraling uniis that are expecled to ben•frt from thè synergies of the combination irresp•clive ol whether olh¥r •559lb ui Iidbiliimjs ol Ihc cPiaiity asts0d lo Ilwx• unrfs. Fln•Thclal In•tTum•nt A finxnr.ir41 •NI nr A flnnnr.iI li%hility i rroqnii•d nnty whvn lh• ch•rity bpcumv¥ • p41ty Iv 11 contr•du•l wowbions ol th• inslrum•rbl fin8neI instrumenis are inrtwlty re91&e •t th• wnounl r•c•v4fabl• or y4y•tA¥ InduOin9 •ny r•llèd Ir•ns•ction costj. urreni Jssets bnd curyent Ik4bilrties are sub5e4uenlty mu•ur•d al Ili• Gth or olh•r c4Jnsi(kn•tM)n expecl•d lo be paid iiiKJ nul dii•LL)unlod. Debl iTrslrum•nts aT• •ubMqu•nlly m••surqd •1 •rTWJrtii•d co. ere investrnenrs in sh8re8 8Te miblirty trwJ•d or th•r fBir valu• can oth•rwls• nwiuréd li&bty, the Invèstment is sub5eguentty rneasured at lair ¥atr with clian9ts$ In faw ¥alu¢ iect4lfiil•UtI iri iilLXJiiW qlfKI ¥Xk4ll1¥. NJI 01 tsh th¥eslrYnl$ subsequenlty me8sur•d It cost less mp81rnenl (Xher fnan¢xil instfumenls. derrrJlives. we inffj.ally recogntsed gt tslr vlue, unl•$ paymenl for 8n aseel is defefred txyond nomi81 busines5 1p.ms or financed al a r¥t• of int•re•t Ihat 15 not a market rate. in whh cas9 the a558t is rww4wrpd •lt thp piBsgnl Val ol tho fulufe payingnts discouni¢d al a mafkd rèie ol mior¢sl lor a similar debt In$tsumeni bnanu81 iTrslr¢Jments SLrtMqntIY mM8ured at t8¥ value. wilh any ch81)P88 r(Nwnised In the stalomonl ol financial activitsos. wrfh Ihe exceplion of edn9 instrLmenls In esign8led he<lging rdJlK)n$hip.
Pag¢ 9 Exchange Church Belfast Company Limilfrd by Guarantee Notss to the Flnancial Statements Year ended 31 December 2019 A0tIng pollcl•8 DpprKl•ilon Dewxiatsm is c¥kulai¢(l $0 a• w wnte off Ihe cost (K Valua of an ass¢l, less ity resKlu•l ¥•IL. ovèr thè useful lrfe ¢1 Ih•t •ssel 8$ f¢lk)ws.' F1¢3 arKI fittings 15% $lroyhi Iv)¢ Impalm)•nt ol fix•d tt•t A loviow lof indrAtoTh of inF1rt bs Gwrwjd out 41 •ach rgporkng dalv. w•th t reEo¥•rable amount being esbm31od whoio SLKh IndlOr$ oxisl. )knfe th¢ carrying value exceed$ the recoverabk mcwnl, the a$sel 15 Impaired a¢wdmgly Pwv mpjirnI9 •re •1$0 fib¥•d for possibl• At •ach f•PtIng dthte For th• pufjJo ol imp•imi•nt t•stMig. ¥th•n it i• not p11• lo •stim•t• th• r•cov•rnbl• mount of an indwjdual a56el, •s1imal• m•J• of tho rocovgrabl• arrKJunl ol th• c4sh-generaling unll lo whtt tho asset bfrk)ft. The cash-generaknng unil rd Ihe sm?Ilesi Klenirfble group ol asse1$ Ihal Includes the asset and 9enerales cash Inflo ih•i irrwJenl ol the c••h inllm frcrfn ollw JMei or group of •••l• acquisiDon d8lt, •lloc8ted io each ol Ihe cash-9enernling unit3 that are •xpect•d lo b•n•frt trorn Ihè iynvrgiÉbs ol th¥ Lombinalion. iriv5WLlw ul wlivllivi ulliur dSbLl$ 01 liabili1$ of Ihe charily ai• a%•wJtd lo Ihow unrts. Finnncial lTr•trum•nl• A frnAnc.il or A linunc.i&l liTrbility iq r•cognis•d onty whvn ch•rity th'urFbO¥ ¥ Poily lo It Bos. financ91 insirum•nts are inrtolty r•cognt&•d •t th• tsUn1 i•c4w4bl¥ ¢1 payatme iloIng •ny r•lt•d 1¥4ns4ction coil•. Current Bssets and Curn• 1tr4bilrti•s are •ubsoqu&nlty I¥Ur0d 41 I ¢41h or Olher consi(Iwaton UYPVLted ID bv Pdid LX and nol discounled. Debt iTrilrum•nts aT• subMqbJ•nlly m•Mur•J •1 •rrwJrtisod Go erp. Inv•.41m•.ftt4 in 8hAfP.4 ANI. piiblicfy trnded or th•r fair v•lu• can olhorwtsé b• m•asured reliabty. th• in¥trneI is sub584uentty m8asuwd at lair va& wilh Changes In lair valL•e 1OLtNiiised Iii income arKI ¢XPdi1[Q. hjl otrf Sh mve8urnnls we sub¥equenty meMur•d It cojl le33 rnpjirnenl Orhtr ffian¢)81 instfumenis, IThdg derilIVes. 8fe inth" Jlly rettJqn?$ Jt lalr Y•. unl•$s ppympni for an asset is defefred beyond Irnal bu5bne55 lerm5 or fin4nc•d ¥1 • rate of intgTg51 Ihal ilD nvl 41 Wiliiwkpl ial¥. in whKh Cqw Ihv ilii¥•uI * rwiva$uiud al tho piès¢ni valw of the future payments discounied at a market raie ol Inieresl lor a similar debt Instrumenl Olhw Iinat)tsal Insliuments Big sLqUentIY mèa8urtsd at la¥ value. wilh any charoes reco9nised In the statement of finala1 auivitles. wth Ihe exception of ed"n9 instriimenls in dejignaled hEdgin9 rdlliv13hip
Pag• 10 Exchange Church Belfast Company Llmlted by Guarant•• Not08 lo lh• Financlal Statements Year ended 31 December 2019 A¢¢ounllng poll¢l•% Fln•n¢l•l lfftstrum•nts iconi#MrndJ Financlal ass•ls thal •r• m•aJured 81 cost W Wl)ortia•d cosl •r• r•vthN•d fof cJ'eciive evidenc6 of inp8Mmenl 81 ihe end ol oxh reporting date 11 mere Is obyecfvo ovMS•nc• ol impaimenl •n impairm•nl loss is re¢1$j uthi Ihe approprK•le •[n9 in the ¥1mInI ol financi rivilS In wliKlI Ilbp inthl g•in w89 recogno¢4 ror 811 tyulty Inilrurn1S regardlts8 01 8¥4nrficanG•. and olhef financial assets ¥• indwidiiolly si9nifuiit. th95? ore •53e55ed indivKlually lor Impéiirnanl Oth•r finaThciMI 88sets th•f as5•5s•d indwthialty or 9IOLwd orb th• ba515 of siniilw credit iisk CliswKkni¥tK•. Any rpversab of imp4iim#nl af• rnetsanised Immedle1. lo th• exl•nl that the rever481 does n¢X rUl* in a carryin9 ankninl vl the financ1 assèi thit ex¢eeOs whal tho Ciirrying amounl woukb ha¥? bo•n h•d th• imp4irnenl not prevth•ty b••n r•cwM•d Limit•d by ou•rnnty• Th• exffip•ry Is Imiitrj by guw•nl•• •nd no •ulhorMd Of ¥h c•pil•l. Donlllons and l?ga¢l•8 Unristrtted Total Fund• IlnrM1rited Total funds Fijnos 2019 Funds ?oIA Don•t•on• 76.345 76.345 15,871 G8.G46 14.993 68 $46 t4.9D3 Cyift 4#Y 92.216 92,216 ¥J.bJg lJJ.bJ¥ IDvMtm•fit Inc4MTb• Vniesttrtsd Total Fund• Unre¥ed T81 Fund8 run0• 2019 Funds 2018 Bunk Interest 53 SJ 35 Oth•r In¢om• Unr•ilTLt•d Tot•1 Fund• Unreslrtled T4)U F unrjs F unos 2019 Furbds 2CI18 Ro¢xn hir¢ 7,900 5.040 5.040 Exp•ndbtur• on ¢h•rftabl• •ctl¥ltb•s by typ• Unrestrthd Toi•l Fund• Unr•slrthd Tol•l Fun Funds 2019 FuJ$ 201B Suprth cosis 8S.188 85.188 75.816 75.816
Piq• 11 Exchange Church Belfast Company Llmlted by Guarantee Notes to Ihe Financlal Statements Year ended 31 December 2019 Exp•ndltur• ¢>n ¢haritsbl• •ctlvltl¢ by •cilvlty typ• Total lund• 2019 T(Mal lund 2018 &wJrt Gosts Chafiiabb a¢11 Govemoru ¢061$ 83.936 1.252 83.936 1.2S2 74.947 85.188 85.188 75,816 10. N•t incom• Net Incomelg staled aft•1 Cl91'n{cledthngI" 2019 2018 D•pr¢cialion ol tangdJ Ilx•d ••8elJ $33 168 11. Ind•p•nd•nl •x•minatbon f••• 2019 201B Faés Ibi I1 l+Jup&riJfrnl •xamintr 14 Inthp•nd•nl einaOn ol tho IanCI•l Bt41•m•nts 6CXI 12. Trt r•mun•r•tlon and •xp•n•• Nti In1ee$ rec¢iv¢d ioThunqr•lion or other benefits therf pc4rtion •¥ IruilgB• ol lh• Ghanty On• ol th• truskes Mr A. lorNJoDd provKJ•s paslnral AUP1Kt selv9 io th¢ ¢¥)my¥riy ¥nd I1E1 lriiiuiilaia11 l%Ji lili• ui Ili¥ &4iiuuiII ul L&.uGa Lh• yèai éridéJ 3 1 Déowi)lJw ib 13. TanBibl• fixed •sg•t• Fixlures and rillings Tolal C1 Al l January 2019 Additions 1,123 2,431 1.123 2.431 Al 31 De¢emb•f 2019 3,554 3.554 O•prKialio Ai 1 Janutry 2019 Chary Ihe y AI 31 DK•mb•T 2019 647 533 647 533 1.180 1.180 C•rryln9 •mount Al 31 D•c•mb•r 2019 2.374 2,374 Ai 31 Lc8mb•r 2018 476 476