GRACE FELLOWSHIP CHURCH LIMITED STATEMENT OF FINANCIAL ACTIVITIES {INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2022 Unrestricted funds 2022 Restrl¢ted funds 2022 Total 2022 Total 2021 Incoming resources Note Incoming resources from charitable activities Offerings, gifts. donations and gfft aid redaims 133.487 23.442 156,929 123,742 Totsl incoming resources 133,487 23.442 156,929 123.742 Resources expended Premises running costs Insurances Staff costs and guest speakers Office and adrrllnistration expenses Mission Ukranian Refugee Ministy Youth and Organisations Community Ministries Bank charges Independent Examinels fee Conferences and courses Sundry expenses Depreaation 15.590 1,082 83,401 7,714 17.961 15,590 1.082 83,401 7,714 28.582 4,244 2.836 2.692 352 792 577 316 1,123 14,333 883 72,509 5,287 32,005 10,621 4,244 2,836 1.434 352 792 577 316 1,123 1,924 1,286 236 755 336 258 1,037 1,258 Total resources gxpond•d 133,178 16,123 149,301 (130.847) Net inc0mingllogolngI resources 309 7,319 7,628 (7,1051 Transfers Net movement in funds 309 7,319 7.628 (7.105) Total funds brought foDNard at 1 January 2022 31,247 3.483 34,730 41,835 Totsl funds carrled forward at 31 December 2022 31,556 10,802 42,358 34,730 The statement of financial activities has been prepared on the basis that all operats'ons are cnntinuing operations. There are no recognised gains and losses other than those passing through the statement of finanaal activits"es.
GRACE FELLOWSHIP CHURCH LIMITED STATEMENT OF FINANCIAL POSITION AS Af 31 DECEMBER 2022 2022 Total 2021 Unrestricted Restricted funds funds Notes Tangible assets 2.472 2,472 3,595 Current assets Debtors Cash at bank and in hand 6.691 25.717 6.691 36,519 6,688 26,449 10,802 32,408 10.802 43.210 33.137 Creditors: amounts falling due within one year 3.324 3,324 2,002 Net current assets 29.084 10,802 39,886 31,135 Total assets less current liabilities 31,556 10.802 42,358 34,730 Income funds Unrestricted funds 31,556 31,247 Restricted funds 10,802 3.483 Total Charity funds 42,358 34,730 For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 wth respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 of the CompaniesAct 2006. These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. The finanaal statements were approved by the trustees and authorised for issue on 11 August 2023 and are signed on its behalf by.. Mr J D Jatvie Director Company Registration No. Nl 626500
GRACE FELLOWSHIP CHURCH LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounllng policies Company inforniation Grace Fellowship Church Limited is a private company limited by shares incorporated in Northern Ireland. The registered office 15 11 Clanwlliams Cottages. Ballynahinch. Co Down, 8T24 8XN. 1.1 Accounting convention These accounts have been prepared in compliance with FRS102, The Financial Reporting Standard applicable in the UK and Republic of Ireland, Chanties SORP {FRS 102), the Statement of Recommended practi applicable to charities preparing their accounts in accordance with the Finanaal reports'ng standard applicable in the UK and republic of Ireland (FRS 102) and the Charities Act (Northem Ireland) 2008. The financial statements are prepared in sterling, v4hich is the functTronal currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The finanoal statements have been prepared under the historical cost convention. Imodified to include the revaluats'on of freehold properties and to indude investment properties and Gertain financial instruments at fair value]. The principal accounting poliaes adopted are set out below. 1.2 Going concern At the ts'me of approving the trustees have a reasonable expectstion that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concem basis of accounts.ng in preparing the financial statements. 1.3 Fund accounting Unrestricted fvnds are available for use at the dis¢*etion of the trustees in furtherance of the general objectives of the charity. Restricted lunds are subjected to restrictions on their expenditure imposed by the provider of the funds. 1 A Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequendy measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to vrrite off the cost or valuation of assets less their residual values over their useful lives on the following bases= Fixtures and fittingslcomputer equipment 250A straight line The gain or loss arising on the disposal of an asset is determined as the difference beeen the sale proceeds and the carrying value of the asset, and is credited or charged to profft or loss.
GRACE FELLOWSHIP CHURCH LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 AcGounting policies (Continuèd) 1.5 Cash and cash èquivalents Cash and cash equivalents are basiG finanaal assets and indude cash in hand, deposits held at Gall with banks, other short-temi liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Employees The average monthly number of persons (induding directors) employed by the company during the year was.. 2022 Number 2021 Number Total Receipts 2022 Unrestricted 2022 Restricted 2022 Total 2021 Total Standing Orders ChL*rch Weekly Offerings Gift Aid Refund Projects Grace Youth Tear Fund Persian Church Designated Gifts (GO) Bridge of Nalions Nl Refugee Fund Christmas Fund Romania Zoom Fund Compassion Anastasia Fund 103,533 6.687 22,967 103,533 6.687 26.909 87,342 3.942 22.667 300 300 1,362 7,280 420 100 6,288 350 200 500 3,000 2,855 1.413 6,480 1.362 7,280 420 100 6.288 350 200 500 3.000 200 1,450 405 680 250 133,487 23,442 156,929 123,742
GRACE FELLOWSHIP CHURCH LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Tangible fixed assets Plant and machinery etc Cost At 1 January 2022 and 31 December 2022 16,089 Depreciation and Impalmient At 1 January 2022 Depreciation charged in the year 12,494 1.123 At 31 Dernber 2022 13.617 Carylng amount At 31 December 2022 2.472 At 31 December 2021 3,595 Debtors 2022 2021 Amounts falling due within one year: Other debtors 6.692 6.688 Creditors: amounts falling due within one year 2022 2021 Taxation and soaal securÉty other creditors 2.532 792 1.247 755 3,324 2.002 Fund Balances Opening Receipts balance Payments Surplusl Transfers Deficit Closing balance Unrestricted funds 31,247 133.487 (133,178) 309 31,556 Restricted funds 3,483 23,442 (16.123) 7,319 10,802 Total funds 34.730 156.929 (149,3011 7.628 42.358 10-
GRACE FELLOWSHIP CHURCH LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Transactions wlth the Trustees There were no transactions with the Trustees during the year. No trustee reiVed any remuneration or reimbursement of expenses dunng the year. No trustee or a person related to a trustee had any personal interest in any contract or transaction entered into by the tharity during the year. 11