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2023-08-31-accounts

REGISTERED COMPANY NUMBER: NI060526 (Northern Ireland) REGISTERED CHARITY NUMBER: 103520

Report of the Trustees and

Audited Financial Statements

for the Year Ended 31 August 2023

for

Belfast City Vineyard Church (A Company Limited by Guarantee)

McCleary & Company Ltd Chartered Accountants and Registered Auditors Garvey Studios 14 Longstone Street Lisburn Co. Antrim BT28 1TP

Belfast City Vineyard Church

Contents of the Financial Statements for the Year Ended 31 August 2023

Page
Report of the Trustees 1 to 5
Report of the Independent Auditors 6 to 9
Statement of Financial Activities 10
Statement of Financial Position 11 to 12
Statement of Cash Flows 13
Notes to the Statement of Cash Flows 14
Notes to the Financial Statements 15 to 24
Detailed Statement of Financial Activities 25 to 26

Belfast City Vineyard Church

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

We believe that God has called us to be an ever growing, regional, biblically based church in Belfast which will in a creative and contemporary style, worship God and communicate the gospel with compassion and mercy. We aim to make, train and equip disciples to be effective in the extending of God's Kingdom, to develop new leaders, to plant new churches, and to contribute to the blessing of the whole Body of Christ. We aim to be a community of people dedicated to pursuing the deep personal transformation that only comes from saving faith in Jesus, and then letting what He has done in us overflow and influence the world around us.

Our objectives and aims

Our aim in Belfast City Vineyard is to advance the Christian Faith. We do this through our three objectives, first to advance the Kingdom of God, second to continuously build the faith of believers and finally, to ever bless and serve our communities and the vulnerable with the compassion, grace and mercy of Jesus Christ.

Advancing His Kingdom

Belfast City Vineyard aims to advance the Kingdom of God throughout the greater Belfast Area, across the whole country and the island of Ireland. Our church has actively worked in our local communities to be a blessing in practical and relational ways.

We welcome those of all or no faiths and from every background and community who wish to visit during our Sunday and Friday services. Many of those have decided to stay and join Belfast City Vineyard. During this period, members continued to witness to the transforming power of Jesus and proclaim His gospel with compassion and generosity.

During this year the staff and leaders regularly welcomed new people in our newcomers' meals, sharing a meal together and week after week our members blessed and served their wider communities with acts of kindness as individuals and small groups, extending prayer and outreach. As we emerged out of the COVID pandemic, we have resumed our in-person services and kept our online format going, reaching places beyond what we can imagine.

Belfast City Vineyard continues to actively engage in church planting and we continue to bless and support those we have released to plant or lead churches in Bangor and Derry.

We continue to partner with two long term projects in North and South Africa both in prayer and financially. We continued to strategically invest in partnerships with churches within Turkey and the surrounding area.

Page 1

Belfast City Vineyard Church

Report of the Trustees for the Year Ended 31 August 2023

OBJECTIVES AND ACTIVITIES

Building Our Faith

Attendance at our Sunday services and life groups has continued to gradually increase throughout the year. We have seen our average weekend attendance be around 300. Towards the end of this financial year, we have had to consider moving to multiple services on a Sunday morning, to provide space for more growth. In September 2022 we were meeting in Rosemary Presbyterian Church halls on a Sunday afternoon, providing kids and youth ministry for our 0-18s at this service. Due to the timing of the services on a Sunday, we noticed numbers fall slightly but it remained steady throughout our time there. We have still been able to record and release our adult services, do in-person training classes, groups and courses, prayer meetings and much much more.

In December 2022, we held a joint Carol Service with Rosemary Presbyterian Church, which was attended well by the community. We also held a Summer kids club in August 2023, for kids in our church community but also children in the community. This was well attended throughout the 3 days that it ran, with several children from the community coming along. To finish the week off, we held a family fun day, which gathered several families from the local area.

In June 2023, we held our first baptism service in 4 years, and baptised 12 people, from our kids, youth and adult ministry. We held the service in our building, which was greatly received by all who attended.

Refurbishment works were carried out in our newly purchased building starting in the previous financial year in August 2022, and were completed in March 2023. The keys and building were officially handed over in March 2023, and we held our first service in our newly renovated space on Sunday 5 March, which was very well attended at around 310 people. Since then, numbers remained at a steady level of around 300 and plans are in place to move to two Sunday morning services from September 2023, to allow for growth.

The pastoral staff continued to deliver training sessions, pressing into greater intimacy with Jesus. As a result, we have seen continued growth in our life group communities. Everyone is encouraged to join one of the small groups that meet mid-week. Attendance in our groups has grown throughout the year and we added several new groups over the course of the year. As we have moved into our own building more ministry areas are beginning to open up and more and more people have started to volunteer to help facilitate much of what we do.

The Staff have continued to undertake training in education and theology. While the wider community of leaders have attended regular training events held throughout the year including the National Leaders Conference in April 2023, our Irish Leaders Conference in February 2023 and Area Regional Days, as well as regularly meeting as a Community of Leaders. Regular ministry courses continued to run including The Following Jesus Course, Gospel of Wholeness and The Alpha Course.

A number of lifestyle classes and seminars have been offered this year to the general congregation, including the connection events for new attenders, marriage preparation courses, the marriage course, the CAP money course and special training for those working in our compassion ministries, children's ministries and prayer ministry teams. These were offered in addition to the practical biblical teaching at Sunday services and weekly life group meetings that empowers Church members to live a God centred lifestyle.

Page 2

Belfast City Vineyard Church

Report of the Trustees for the Year Ended 31 August 2023

OBJECTIVES AND ACTIVITIES

Compassion for the Vulnerable

Every year Belfast City Vineyard actively seeks ways to bless and practically serve our community, especially the poor, the needy, young and old, including those who are outside our church community.

In partnership with Storehouse (NI), Belfast City Vineyard collects food and funds for distribution to those most at risk. Every week food parcels regularly go out to meet the needs of the poor in our local community, taking the immediate burden off statutory agencies, charities and community groups, allowing them time to put in place a long term solution.

Belfast City Vineyard also partners with Vineyard Churches UK & Ireland giving them financial support. VCUK & I connect churches with common values and practices providing spiritual guidance and oversight to the Vineyard Church leaders as well as facilitating new church planting.

STRATEGIC REPORT

Financial position

The congregation's main source of income is members' contributions through the Weekly Freewill Offering. Total Income of the congregation during the year was £642,556 compared to £713,889 in the previous year. Total expenditure increased from £411,105 to £466,292.

Reserves policy

The Trustees have considered the level of unrestricted net current assets that it is appropriate to hold taking account of current and ongoing commitments. It is the policy of the Trustees to aim to hold at least six month's normal expenditure, as the funding of its present activities is dependent of the ongoing financial support of members. At the year-end unrestricted reserves were £1,158,787.

Plans for the Future

This is by no means the sum of all that we do but merely a snapshot of the life of our church. We aim to pursue Jesus by pressing into intimacy with him, build out faith with our community around us and answer the call on our lives, that Jesus has placed by serving those who need us the most. We plan to take these aims into next year and the decades beyond as our church member's commitment increases. We are thrilled to have moved into our new to us building and we are actively seeking new opportunities to serve the community surrounding and further across Belfast and beyond.

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.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

NI060526 (Northern Ireland)

Registered Charity number

103520

Page 3

Belfast City Vineyard Church

Report of the Trustees for the Year Ended 31 August 2023

Registered office

2nd Floor Temple Court 39 North Street Belfast Co. Antrim BT1 1NA

Trustees

Dr Darrin Alexander Barr CEO Rev Andrew Textor Smith Minister of Religion Mr Alan Roye Carson Associate Pastor Ms Elizabeth Truesdale Project Coordinator Mr Timothy Mairs Director Mr Matthew Graham Director

Senior Statutory Auditor

John McCleary

Auditors

McCleary & Company Ltd Chartered Accountants and Registered Auditors Garvey Studios 14 Longstone Street Lisburn Co. Antrim BT28 1TP

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Belfast City Vineyard Church for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 4

Belfast City Vineyard Church

Report of the Trustees for the Year Ended 31 August 2023

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

In so far as the trustees are aware:

AUDITORS

The auditors, McCleary & Company Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees approved by order of the board of trustees, as the company directors, on 21 May 2024 and signed on its behalf by:

Mr Alan Roye Carson - Trustee

Page 5

Report of the Independent Auditors to the Members of Belfast City Vineyard Church

Opinion

We have audited the financial statements of Belfast City Vineyard Church (the 'charitable company') for the year ended 31 August 2023 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Page 6

Report of the Independent Auditors to the Members of Belfast City Vineyard Church

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 7

Report of the Independent Auditors to the Members of Belfast City Vineyard Church

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Having considered the nature of the Charity and the sector in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to breaches of health and safety laws, employment law and environmental regulations. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that do not have a direct impact on the preparation of the financial statements but compliance with which may be fundamental to the Charity's ability to operate such as the Companies Act 2006.

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to misstatement of restricted and unrestricted fund balances. Audit procedures performed included: - Assessment of compliance with key laws and regulations.

We communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

There are inherent limitations in the audit procedures outlined above. We are less likely to become aware of instances with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 8

Report of the Independent Auditors to the Members of Belfast City Vineyard Church

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

John McCleary (Senior Statutory Auditor) for and on behalf of McCleary & Company Ltd Chartered Accountants and Registered Auditors Garvey Studios 14 Longstone Street Lisburn Co. Antrim BT28 1TP

21 May 2024

Page 9

Belfast City Vineyard Church

Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 August 2023

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Investment income
3
Other income
Total
EXPENDITURE ON
Charitable activities
4
Direct costs
Support costs
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
16
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
340,635
969
657
342,261
249,713
137,063
386,776
(44,515)
517,278
472,763
686,024
1,158,787		 Restricted
funds
£
297,534
541
2,220
300,295
76,226
3,290
79,516
220,779
(517,278)
(296,499)
336,468
39,969		 31.8.23
Total
funds
£
638,169
1,510
2,877
642,556
325,939
140,353
466,292
176,264
-
176,264
1,022,492
1,198,756		 31.8.22
Total
funds
£
687,055
405
26,429
713,889
309,742
101,363
411,105
302,784
-
302,784
719,708
1,022,492

The notes form part of these financial statements

Page 10

Belfast City Vineyard Church

Statement of Financial Position 31 August 2023

Notes
FIXED ASSETS
Tangible assets
10
CURRENT ASSETS
Debtors
11
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
12
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one
year
13
NET ASSETS		 Unrestricted
fund
£
1,463,080
9,157
89,341
98,498
(46,478)
52,020
1,515,100
(356,314)
1,158,786		 Restricted
funds
£
-
-
39,970
39,970
-
39,970
39,970
-
39,970		 31.8.23
Total
funds
£
1,463,080
9,157
129,311
138,468
(46,478)
91,990
1,555,070
(356,314)
1,198,756		 31.8.22
Total
funds
£
540,346
14,477
477,770
492,247
(10,101)
482,146
1,022,492
-
1,022,492

The notes form part of these financial statements

continued...

Page 11

Belfast City Vineyard Church

Statement of Financial Position - continued 31 August 2023

FUNDS
16
Unrestricted funds
Restricted funds
TOTAL FUNDS		 1,158,786
39,970
1,198,756		 686,024
336,468
1,022,492

The financial statements were approved by the Board of Trustees and authorised for issue on 21 May 2024 and were signed on its behalf by:

Mr Alan Roye Carson - Trustee

Mr Matthew Graham - Trustee

The notes form part of these financial statements

Page 12

Belfast City Vineyard Church

Statement of Cash Flows for the Year Ended 31 August 2023

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
Cash flows from financing activities
New loans in year
Loan repayments in year
Interest paid
Net cash provided by financing activities
Change in cash and cash equivalents
in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end
of the reporting period		 31.8.23
£
212,833
(13,962)
198,871
(942,490)
1,510
(940,980)
392,133
(12,445)
13,962
393,650
(348,459)
477,770
129,311		 31.8.22
£
305,270
-
305,270
(538,626)
405
(538,221)
-
-
-
-
(232,951)
710,721
477,770

The notes form part of these financial statements

Page 13

Belfast City Vineyard Church

Notes to the Statement of Cash Flows for the Year Ended 31 August 2023

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
Interest received
Interest paid
Decrease/(increase) in debtors
(Decrease)/increase in creditors
Net cash provided by operations		 31.8.23
£
176,264
19,756
(1,510)
13,962
5,320
(959)
212,833		 31.8.22
£
302,784
961
(405)
-
(5,532)
7,462
305,270

2. ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

Net cash At 1.9.22
Cash flow
At 31.8.23
£
£
£
Cash at bank and in hand 477,770
(348,459)
129,311
477,770
(348,459)
129,311
Debt
Debts falling due within 1 year -
(37,336)
(37,336)
Debts falling due after 1 year -
(356,314)
(356,314)
-
(393,650)
(393,650)
Total 477,770
(742,109)
(264,339)

The notes form part of these financial statements

Page 14

Belfast City Vineyard Church

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.

Fixtures and fittings

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 15

Belfast City Vineyard Church

Notes to the Financial Statements - continued for the Year Ended 31 August 2023

2.
DONATIONS AND LEGACIES
Donations
Gift aid
Grants
Grants received, included in the above, are as follows:
Listed Places of Worship Scheme
3.
INVESTMENT INCOME
Deposit account interest
4.
CHARITABLE ACTIVITIES COSTS
Direct costs
Support costs
5.
SUPPORT COSTS
Support costs		 31.8.23
£
413,212
70,079
154,878
638,169
31.8.23
£
154,878
31.8.23
£
1,510
Support
Direct
costs (see
Costs
note 5)
£
£
325,939
-
-
140,353
325,939
140,353
Governance
Other
costs
£
£
120,030
20,323		 31.8.22
£
574,597
112,458
-
687,055
31.8.22
£
-
31.8.22
£
405
Totals
£
325,939
140,353
466,292
Totals
£
140,353

continued...

Page 16

Belfast City Vineyard Church

Notes to the Financial Statements - continued for the Year Ended 31 August 2023

6. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Depreciation - owned assets
7.
TRUSTEES' REMUNERATION AND BENEFITS
Trustees' salaries
Trustees' social security
Trustees' pensions paid
Trustees' expenses
Trustees' expenses
8.
STAFF COSTS
Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Pastoral staff
Administration		 31.8.23
£
19,756
31.8.23
£
70,504
5,551
1,330
77,385
31.8.23
£
7,767
31.8.23
£
210,475
14,012
4,448
228,935

31.8.23
2
6
8		 31.8.22
£
961
31.8.22
£
67,245
5,219
3,100
75,564
31.8.22
£
5,698
31.8.22
£
195,437
12,316
5,648
213,401
31.8.22
8
1
9

No employees received emoluments in excess of £60,000.

continued...

Page 17

Belfast City Vineyard Church

Notes to the Financial Statements - continued for the Year Ended 31 August 2023

9.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Restricted
fund
funds
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
443,683
243,372
Investment income
297
108
Other income
3,899
22,530
Total
447,879
266,010
EXPENDITURE ON
Charitable activities
Direct costs
278,822
30,920
Support costs
101,363
-
Total
380,185
30,920
NET INCOME
67,694
235,090
Transfers between funds
466,187
(466,187)
Net movement in funds
533,881
(231,097)
RECONCILIATION OF FUNDS
Total funds brought forward
152,143
567,565
TOTAL FUNDS CARRIED
FORWARD
686,024
336,468		 Total
funds
£
687,055
405
26,429
713,889
309,742
101,363
411,105
302,784
-
302,784
719,708
1,022,492

continued...

Page 18

Belfast City Vineyard Church

Notes to the Financial Statements - continued for the Year Ended 31 August 2023

10. TANGIBLE FIXED ASSETS

Freehold
property
£
COST
At 1 September 2022
526,940
Additions
876,884
At 31 August 2023
1,403,824
DEPRECIATION
At 1 September 2022
-
Charge for year
-
At 31 August 2023
-
NET BOOK VALUE
At 31 August 2023
1,403,824
At 31 August 2022
526,940
11.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
Accrued income
Prepayments		 Fixtures
and
fittings
£
35,093
65,606
100,699
21,687
19,756
41,443
59,256
13,406
31.8.23
£
1,848
4,848
2,461
9,157		 Totals
£
562,033
942,490
1,504,523
21,687
19,756
41,443
1,463,080
540,346
31.8.22
£
1,849
11,587
1,041
14,477

continued...

Page 19

Belfast City Vineyard Church

Notes to the Financial Statements - continued for the Year Ended 31 August 2023

12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23
£
Bank loans and overdrafts (see note 14)
37,336
Social security and other taxes
4,146
Other creditors
-
Accrued expenses
4,996
46,478
13.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.23
£
Bank loans (see note 14)
356,314
14.
LOANS
An analysis of the maturity of loans is given below:
31.8.23
£
Amounts falling due within one year on demand:
Bank loans
37,336
Amounts falling due between two and five years:
Bank loans - 2-5 years
356,314
15.
SECURED DEBTS		 31.8.22
£
-
4,592
1,322
4,187
10,101
31.8.22
£
-
31.8.22
£
-
-

Security is held by Ulster Community Investment Trust on the property at 92-114 Cavehill Road, Belfast.

continued...

Page 20

Belfast City Vineyard Church

Notes to the Financial Statements - continued for the Year Ended 31 August 2023

16. MOVEMENT IN FUNDS

Net
movement
At 1.9.22
in funds
£
£
Unrestricted funds
General fund
686,024
(44,516)
Restricted funds
Storehouse
502
40
Missions
513
(327)
Regional
19,840
(6,653)
Property fund
306,331
227,570
Benevolence fund
9,282
150
336,468
220,780
TOTAL FUNDS
1,022,492
176,264
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
342,261
Restricted funds
Storehouse
4,860
Missions
4,220
Regional
46,209
Property fund
242,592
Benevolence fund
2,414
300,295
TOTAL FUNDS
642,556		 Transfers
between
funds
£
517,278
-
16,241
-
(533,519)
-
(517,278)
-
Resources
expended
£
(386,777)
(4,820)
(4,547)
(52,862)
(15,022)
(2,264)
(79,515)
(466,292)		 At
31.8.23
£
1,158,786
542
16,427
13,187
382
9,432
39,970
1,198,756
Movement
in funds
£
(44,516)
40
(327)
(6,653)
227,570
150
220,780
176,264

continued...

Page 21

Belfast City Vineyard Church

Notes to the Financial Statements - continued for the Year Ended 31 August 2023

16. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
Storehouse
Foyle Vineyard
Missions
South Africa
Regional
Property fund
Benevolence fund
Ukraine fund
TOTAL FUNDS		 At 1.9.21
£
152,143
869
55
630
2,257
27,971
529,160
6,623
-
567,565
719,708		 Net
movement
in funds
£
67,694
(4,812)
(55)
(4,116)
-
18,109
221,337
1,021
3,606
235,090
302,784		 Transfers
between
At
funds
31.8.22
£
£
466,187
686,024
4,445
502
-
-
3,999
513
(2,257)
-
(26,240)
19,840
(444,166)
306,331
1,638
9,282
(3,606)
-
(466,187)
336,468
-
1,022,492

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Storehouse
Foyle Vineyard
Missions
Regional
Property fund
Benevolence fund
Ukraine fund
TOTAL FUNDS		 Incoming
resources
£
447,879
2,499
-
3,804
33,503
221,337
1,261
3,606
266,010
713,889		 Resources
Movement
expended
in funds
£
£
(380,185)
67,694
(7,311)
(4,812)
(55)
(55)
(7,920)
(4,116)
(15,394)
18,109
-
221,337
(240)
1,021
-
3,606
(30,920)
235,090
(411,105)
302,784

continued...

Page 22

Belfast City Vineyard Church

Notes to the Financial Statements - continued for the Year Ended 31 August 2023

16. 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
Storehouse
Foyle Vineyard
Missions
South Africa
Regional
Property fund
Benevolence fund
Ukraine fund
TOTAL FUNDS		 At 1.9.21
£
152,143
869
55
630
2,257
27,971
529,160
6,623
-
567,565
719,708		 Net
movement
in funds
£
23,178
(4,772)
(55)
(4,443)
-
11,456
448,907
1,171
3,606
455,870
479,048		 Transfers
between
funds
£
983,465
4,445
-
20,240
(2,257)
(26,240)
(977,685)
1,638
(3,606)
(983,465)
-		 At
31.8.23
£
1,158,786
542
-
16,427
-
13,187
382
9,432
-
39,970
1,198,756

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming
resources
£
Unrestricted funds
General fund
790,140
Restricted funds
Storehouse
7,359
Foyle Vineyard
-
Missions
8,024
Regional
79,712
Property fund
463,929
Benevolence fund
3,675
Ukraine fund
3,606
566,305
TOTAL FUNDS
1,356,445		 Resources
Movement
expended
in funds
£
£
(766,962)
23,178
(12,131)
(4,772)
(55)
(55)
(12,467)
(4,443)
(68,256)
11,456
(15,022)
448,907
(2,504)
1,171
-
3,606
(110,435)
455,870
(877,397)
479,048

continued...

Page 23

Belfast City Vineyard Church

Notes to the Financial Statements - continued for the Year Ended 31 August 2023

17. CAPITAL COMMITMENTS

At the year end the charity had a capital commitment of £20,000 in relation to retention monies due on the renovation of the property at 92-114 Cavehill Road, Belfast.

18. RELATED PARTY DISCLOSURES

At 31 August 2023 £1,849 was owed to Belfast City Vineyard Church by Storehouse (NI) in relation to outstanding pension payments.

Belfast City Vineyard Church share premises with Storehouse (NI). Belfast City Vineyard Church makes payments to Storehouse (NI) to cover their portion of the rent charge. The landlord is then paid by Storehouse (NI).

Mr Alan Carson, Rev Andrew Smith and Mr Timothy Mairs are all Trustees of both Belfast City Vineyard Church and Storehouse (NI).

Page 24

Belfast City Vineyard Church

Detailed Statement of Financial Activities
for the Year Ended 31 August 2023
INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
Grants
Investment income
Deposit account interest
Other income
Sundry Income
Total incoming resources
EXPENDITURE
Charitable activities
Trustees' salaries
Trustees' social security
Trustees' pensions paid
Trustees' expenses
Wages
Social security
Pensions
Operational
Ministry
Out Gifting
Support costs
Other
Wages
Social security
Pensions
Fixtures & fittings depreciation		 31.8.23
£
413,212
70,079
154,878
638,169
1,510
2,877
642,556
70,504
5,551
1,330
7,767
48,644
3,180
782
70,702
76,055
41,424
325,939
91,327
5,281
3,666
19,756
120,030		 31.8.22
£
574,597
112,458
-
687,055
405
26,429
713,889
67,245
5,219
3,100
5,698
43,468
2,658
1,456
87,294
56,142
37,462
309,742
84,724
4,439
4,192
961
94,316

This page does not form part of the statutory financial statements

Page 25

Belfast City Vineyard Church

Detailed Statement of Financial Activities
for the Year Ended 31 August 2023
Other
Governance costs
Accountancy and legal fees
Mortgage
Total resources expended
Net income		 31.8.23
£
6,361
13,962
20,323
466,292
176,264		 31.8.22
£
7,047
-
7,047
411,105
302,784

This page does not form part of the statutory financial statements

Page 26