OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-08-31-accounts

Company Registration Number: NI060526 Charity Number: 103520

Belfast City Vineyard Church

(A company limited by guarantee, not having a share capital)

Annual Report and Audited Financial Statements

for the financial year ended 31 August 2024

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

Belfast City Vineyard Church (A company limited by guarantee, not having a share capital) CONTENTS

Page
Trustees' and Other Information 3
Trustees' Annual Report 4 - 6
Statement of Trustees' Responsibilities 7
Independent Auditor's Report 8-10
Statement of Financial Activities 11
Balance Sheet 12
Statement of Cash Flows 13
Notes to the Financial Statements 14 - 20
Supplementary Information relating to the Financial Statements 22

2

Belfast City Vineyard Church (A company limited by guarantee, not having a share capital) TRUSTEES' AND OTHER INFORMATION

Trustees Matthew Graham Dr Darrin Alexander Barr Alan Roye Carson Elizabeth Truesdale Andrew Textor Smith Timothy Paul Mairs (Resigned 2 December 2024) Charity Number in Northern Ireland 103520 Company Registration Number NI060526 Registered Office 2nd Floor Temple Court 39 North Street Belfast Co Antrim BT1 1NA Northern Ireland Principal Address 92-114 Cavehill Road Belfast BT15 5BT Auditors McCleary & Company Ltd Chartered Accountants and Registered Auditors Garvey Studios 14 Longstone Street Lisburn Co Antrim BT28 1TP

3

Belfast City Vineyard Church (A company limited by guarantee, not having a share capital) TRUSTEES' ANNUAL REPORT

for the financial year ended 31 August 2024

The trustees present their Trustees' Annual Report, combining the Directors' Report and Trustees' Report, and the audited financial statements for the financial year ended 31 August 2024.

The financial statements are prepared in accordance with the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The Trustees' Report contains the information required to be provided in the Trustees' Annual Report under the Statement of Recommended Practice (SORP) guidelines. The trustees of the charity are also charity trustees for the purpose of charity law and under the charity's constitution are known as members of the board of trustees.

In this report the trustees of Belfast City Vineyard Church present a summary of its purpose, governance, activities, achievements and finances for the financial year 31 August 2024.

The charity is a registered charity and hence the report and results are presented in a form which complies with the requirements of the Companies Act 2006 and, although not obliged to comply with the Statement of Recommended Practice applicable in the UK and Republic of Ireland FRS 102, the organisation has implemented its recommendations where relevant in these financial statements.

Mission, Objectives and Strategy

Mission Statement

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.

Objectives

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.

Financial Review

The results for the financial year are set out on page 11 and additional notes are provided showing income and expenditure in greater detail

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 months 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 £1,195,586 and restricted reserves £97,098 (total funds £1,292,684).

Financial Results

At the end of the financial year the charity has assets of £1,637,739 (2023 - £1,601,548) and liabilities of £345,055 (2023 - £402,792). The net assets of the charity have increased by £93,928.

Trustees

The trustees who served throughout the financial year, except as noted, were as follows:

Matthew Graham

Dr Darrin Alexander Barr Alan Roye Carson Elizabeth Truesdale Andrew Textor Smith Timothy Paul Mairs (Resigned 2 December 2024)

In accordance with the Constitution, the trustees retire by rotation and, being eligible, offer themselves for re-election.

4

Belfast City Vineyard Church (A company limited by guarantee, not having a share capital) TRUSTEES' ANNUAL REPORT

for the financial year ended 31 August 2024

Compliance with Sector-Wide Legislation and Standards

The charity engages pro-actively with legislation, standards and codes which are developed for the sector. Belfast City Vineyard Church subscribes to and is compliant with the following:

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. We have continued our in-person services and kept our online format going, reaching places beyond what we can imagine.

Belfast City Vineyard continued 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 Northern Africa and Northern Ireland both in prayer and financially. We continued to strategically invest in partnerships with churches within Turkey and the surrounding area.

Building our Faith

Attendance at our Sunday services and life groups has gradually continued to increase throughout the year. Our average weekend attendance is around 350. At the beginning of this financial year, we moved to two services on a Sunday morning, this has provided space for new people to attend. Throughout the year we have seen our numbers grow from around 290 on a Sunday morning to 350, with many of those new people coming from the local area. We continue to provide kids and youth ministry alongside both of our Sunday service times. We continue to record and release our adult services online, provide training classes online and in-person, along with groups, courses, prayer meetings and much much more.

In September 2023, we held our first ever House of Prayer Conference, in which we trained over 100 people in prayer. It was a joy to be able to do this in our own building and we have plans to make this an annual event in our calendar.

Following the success of our Summer Kids Club in August 2023, we held a Light Party in October 2023 for kids from our church and surrounding community, in which we had nearly 80 children in attendance. We also held a Summer Kids Club in July 2024. This was well attended throughout the 3 days, 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, and we have run these family fun events several times throughout the year, which have been well attended by members of the local community.

We have also started to gather, once a month on a Sunday evening, to worship & pray. These gatherings are a great opportunity to pray into the church, the area and beyond. These evenings are always well attended, with people who have a desire to see God’s Kingdom grow.

On 1 December 2023, we held our first ever Christmas Market in our Sports Hall, inviting traders from across the country to come and set up a stall to sell their goods. A local school choir also came on the evening to provide us with some Christmas Carols. This was a donation-based event, in which we were able to bless the local school with £1000.

Towards the end of the previous financial year, we saw our Youth Pastor leave her position within Belfast City Vineyard. We wish her well in her new post. In October 2023, we added a new staff member to our team as our new Youth Pastor. It has been great to have him be part of our staff team, and since he has joined, we have started a weekly Youth Club, which has grown, along with our Youth Ministry, throughout the year.

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 been in the building for just over a year now, more ministry areas are beginning to open up and increasing numbers of people have started to volunteer to help facilitate much of what we

5

Belfast City Vineyard Church (A company limited by guarantee, not having a share capital) TRUSTEES' ANNUAL REPORT

for the financial year ended 31 August 2024 do.

The Staff have continued to undertake training in education and theology. The wider community of leaders have attended regular training events held throughout the year, including the National Leaders’ Conference in April 2024, our Irish Leaders’ Conference in October 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.

Compassion for the Vulnerable

Every year Belfast City Vineyard actively seek ways to bless and practically serve our community, especially those experiencing cycles of poverty, 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 it financial support. VCUK & I connects churches with common values and practices providing spiritual guidance and oversight to the Vineyard Church leaders as well as facilitating new church planting.

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 our 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 members’ commitment increases. We are thrilled to have moved into our refurbished 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.

The Auditors

The auditors, McCleary & Company Ltd, (Chartered Accountants and Registered Auditors) have indicated their willingness to continue in office in accordance with the provisions of Section 485 of the Companies Act 2006.

Approved by the Board of Trustees on 15 April 2025 and signed on its behalf by:

________Alan Roye Carson Trustee

________Matthew Graham Trustee

6

Belfast City Vineyard Church (A company limited by guarantee, not having a share capital) STATEMENT OF TRUSTEES' RESPONSIBILITIES

for the financial year ended 31 August 2024

The trustees, who are also directors of Belfast City Vineyard Church for the purposes of company law, are responsible for preparing the financial statements in accordance with applicable law and regulations.

Company law requires the trustees as the directors to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the net income or expenditure of the charity for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006 and. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

Approved by the Board of Trustees on 15 April 2025 and signed on its behalf by:

________Alan Roye Carson Trustee

________Matthew Graham Trustee

7

INDEPENDENT AUDITOR'S REPORT to the Members of Belfast City Vineyard Church

(A company limited by guarantee, not having a share capital)

Report on the audit of the financial statements

Opinion

We have audited the charity financial statements of Belfast City Vineyard Church ('the charity') for the financial year ended 31 August 2024 which comprise the Statement of Financial Activities (incorporating an Income and Expenditure Account), the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including the summary of significant accounting policies set out in note 2. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS 102.

In our opinion, when reporting in accordance with a fair presentation framework 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with 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 charity's ability to continue as a going concern for a period of at least twelve months from the date 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 other information comprises the information included in the annual report other than the financial statements and our Auditor's Report thereon. The trustees are responsible for the other information contained within the annual report. 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.

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 course of 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.

Opinion on other matter prescribed by the Companies Act 2006

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

8

INDEPENDENT AUDITOR'S REPORT to the Members of Belfast City Vineyard Church

(A company limited by guarantee, not having a share capital)

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Annual Report.

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 for the financial statements

As explained more fully in the Statement of Trustees' Responsibilities set out on page 8, the trustees 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 they 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 charity'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 management either intends to liquidate the charity or to cease operations, or has no realistic alternative but to do so.

Auditor's 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 an Auditor's Report 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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 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 incompleteness of income. Audit procedures performed included:

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

9

INDEPENDENT AUDITOR'S REPORT to the Members of Belfast City Vineyard Church

(A company limited by guarantee, not having a share capital) Independent Auditors.

Further information regarding the scope of our responsibilities as auditor

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

The purpose of our audit work and to whom we owe our responsibilities

This report is made solely to the charity'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 charity's members those matters we are required to state to them in an auditor's 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 charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.

__________John McCleary FCA (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

15 April 2025

10

Belfast City Vineyard Church

(A company limited by guarantee, not having a share capital) STATEMENT OF FINANCIAL ACTIVITIES

(Incorporating an Income and Expenditure Account)

for the financial year ended 31 August 2024

Unrestricted Restricted Total Unrestricted Restricted Total
Funds Funds Funds Funds Funds Funds
2024 2024 2024 2023 2023 2023
Notes £ £ £ £ £ £
Income
Donations and legacies 3.1 351,671 174,547 526,218 340,635 297,534 638,169
Investments 3.2 12,308 - 12,308 969 541 1,510
Other income 3.3 2,312 3,972 6,284 657 2,220 2,877
─────── ─────── ─────── ─────── ─────── ───────
Total income 366,291 178,519 544,810 342,261 300,295 642,556
─────── ─────── ─────── ─────── ─────── ───────
Expenditure
Charitable activities 4.1 381,424 69,458 450,882 386,777 79,515 466,292
─────── ─────── ─────── ─────── ─────── ───────
Net income/(expenditure) (15,133) 109,061 93,928 (44,516) 220,780 176,264
Transfers between funds 51,933 (51,933) - 517,278 (517,278) -
─────── ─────── ─────── ─────── ─────── ───────
Net movement in funds for 36,800 57,128 93,928 472,762 (296,498) 176,264
the financial year
Reconciliation of funds:
Total funds beginning of the 17 1,158,786 39,970 1,198,756 686,024 336,468 1,022,492
year
─────── ─────── ─────── ─────── ─────── ───────
Total funds at the end of 1,195,586 97,098 1,292,684 1,158,786 39,970 1,198,756
the year
═══════ ═══════ ═══════ ═══════ ═══════ ═══════

The Statement of Financial Activities includes all gains and losses recognised in the financial year. All income and expenditure relate to continuing activities.

The notes on pages 14 to 20 form part of the financial statements

11

Belfast City Vineyard Church

(A company limited by guarantee, not having a share capital) Company Number: NI060526 BALANCE SHEET

as at 31 August 2024

2024 2023
Notes £ £
Fixed Assets
Tangible assets 10 1,442,844 1,463,080
─────── ───────
Current Assets
Debtors 11 11,292 9,157
Cash at bank and in hand 12 183,603 129,311
─────── ───────
194,895 138,468
─────── ───────
Creditors: Amounts falling due within one year 13 (48,982) (46,478)
─────── ───────
Net Current Assets 145,913 91,990
─────── ───────
Total Assets less Current Liabilities 1,588,757 1,555,070
Creditors
Amounts falling due after more than one year 14 (296,073) (356,314)
─────── ───────
Total Net Assets 1,292,684 1,198,756
═══════ ═══════
Funds
Restricted funds 97,098 39,970
General fund (unrestricted) 1,195,586 1,158,786
─────── ───────
Total funds 17 1,292,684 1,198,756
═══════ ═══════

These financial statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

Approved by the Board of Trustees and authorised for issue on 15 April 2025 and signed on its behalf by

________Alan Roye Carson Trustee

________Matthew Graham Trustee

The notes on pages 14 to 20 form part of the financial statements

12

Belfast City Vineyard Church STATEMENT OF CASH FLOWS

for the financial year ended 31 August 2024

2024 2023
Notes £ £
Cash flows from operating activities
Net movement in funds 93,928 176,264
Adjustments for:
Depreciation 20,236 19,756
Interest receivable and similar income (1,698) (1,510)
Interest payable and similar expenses 27,095 13,962
─────── ───────
139,561 208,472
Movements in working capital:
Movement in debtors (2,135) 5,320
Movement in creditors 2,504 (959)
─────── ───────
Cash generated from operations 139,930 212,833
Interest paid (27,095) (13,962)
─────── ───────
Net cash generated from operating activities 112,835 198,871
─────── ───────
Cash flows from investing activities
Interest received 1,698 1,510
Payments to acquire tangible assets - (942,490)
─────── ───────
Net cash generated from/(used in) investment activities 1,698 (940,980)
─────── ───────
Cash flows from financing activities
New long term loan - (392,133)
Loan interest charged 27,095 13,962
Repayment of short term loan (87,336) (12,445)
─────── ───────
Net cash (used in)/generated from financing activities (60,241) 393,650
─────── ───────
Net increase/(decrease) in cash and cash equivalents 54,292 (348,459)
Cash and cash equivalents at the beginning of the year 129,311 477,770
─────── ───────
Cash and cash equivalents at the end of the year 12 183,603 129,311
═══════ ═══════

13

Belfast City Vineyard Church (A company limited by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 August 2024

1. GENERAL INFORMATION

Belfast City Vineyard Church is a company limited by guarantee incorporated in Northern Ireland. The registered office of the charity is 2nd Floor Temple Court, 39 North Street, Belfast, Co Antrim, BT1 1NA, Northern Ireland. The financial statements have been presented in Pound (£) which is also the functional currency of the charity.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charity’s financial statements.

Basis of preparation

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared on the going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102".

As permitted by the Companies Act 2006, the charity has varied the standard formats in that act for the Statement of Financial Activities and the Balance Sheet. Departures from the standard formats are to comply with the requirements of the Charities SORP and are in compliance with section 4.7, 10.6 and 15.2 of that SORP.

Statement of compliance

The financial statements of the charity for the financial year ended 31 August 2024 have been prepared on the going concern basis and in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102".

Fund accounting

The following are the categories of funds maintained:

Restricted funds

Restricted funds represent income received which can only be used for particular purposes, as specified by the donors. Such purposes are within the overall objectives of the charity.

Unrestricted funds

Unrestricted funds consist of General and Designated funds.

■ General funds represent amounts which are expendable at the discretion of the board, in furtherance of the objectives of the charity.

■ Designated funds comprise unrestricted funds that the board has, at its discretion, set aside for particular purposes. These designations have an administrative purpose only, and do not legally restrict the board's discretion to apply the fund.

Income

Income is recognised by inclusion in the Statement of Financial Activities only when the charity is legally entitled to the income, performance conditions attached to the item(s) of income have been met, the amounts involved can be measured with sufficient reliability and it is probable that the income will be received by the charity.

Income from charitable activities

Income from charitable activities include income earned from the supply of services under contractual arrangements and from performance related grants which have conditions that specify the provision of particular services to be provided by the charity. Income from government and other co-funders is recognised when the charity is legally entitled to the income because it is fulfilling the conditions contained in the related funding agreements. Where a grant is received in advance, its recognition is deferred and included in creditors. Where entitlement occurs before income is received, it is accrued in debtors.

14

continued

Belfast City Vineyard Church (A company limited by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 August 2024

Expenditure

Expenditure is analysed between costs of charitable activities and raising funds. The costs of each activity are separately accumulated and disclosed, and analysed according to their major components. Expenditure is recognised when a legal or constructive obligation exists as a result of a past event, a transfer of economic benefits is required in settlement and the amount of the obligation can be reliably measured. Support costs are those functions that assist the work of the charity but cannot be attributed to one activity. Such costs are allocated to activities in proportion to staff time spent or other suitable measure for each activity.

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated residual value, over their expected useful lives as follows:

Debtors

Debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Income recognised by the charity from government agencies and other co-funders, but not yet received at financial year end, is included in debtors.

Cash at bank and in hand

Cash at bank and in hand comprises cash on deposit at banks requiring less than three months notice of withdrawal.

Taxation

No current or deferred taxation arises as the charity has been granted charitable exemption. Irrecoverable valued added tax is expensed as incurred.

Pensions

The charity operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the charity. Annual contributions payable to the charity's pension scheme are charged to the income and expenditure account in the period to which they relate

3. INCOME
3.1 DONATIONS AND LEGACIES Unrestricted Restricted 2024 2023
Funds Funds
£ £ £ £
Donations 290,248 116,916 407,164 413,212
Gift aid 61,423 13,631 75,054 70,079
Grants - 44,000 44,000 154,878
─────── ─────── ─────── ───────
351,671 174,547 526,218 638,169
═══════ ═══════ ═══════ ═══════
3.2 INVESTMENTS Unrestricted Restricted 2024 2023
Funds Funds
£ £ £ £
Investments 12,308 - 12,308 1,510
═══════ ═══════ ═══════ ═══════
3.3 OTHER INCOME Unrestricted Restricted 2024 2023
Funds Funds
£ £ £ £
Other income 2,312 3,972 6,284 2,877
═══════ ═══════ ═══════ ═══════

4. EXPENDITURE

15

continued

Belfast City Vineyard Church

(A company limited by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 August 2024
4.1 CHARITABLE ACTIVITIES Direct Other Support 2024 2023
Costs Costs Costs
£ £ £ £ £
Expenditure on charitable activites 304,825 - 111,682 416,507 445,969
Governance Costs (Note 4.2) - - 34,375 34,375 20,323
─────── ─────── ─────── ─────── ───────
304,825 - 146,057 450,882 466,292
═══════ ═══════ ═══════ ═══════ ═══════
4.2 GOVERNANCE COSTS Direct Other Support 2024 2023
Costs Costs Costs
£ £ £ £ £
Charitable activities - governance - - 34,375 34,375 20,323
costs
═══════ ═══════ ═══════ ═══════ ═══════
4.3 SUPPORT COSTS **Charitable ** Governance 2024 2023
Activities Costs
£ £ £ £
Wages 83,850 - 83,850 91,327
Social security 4,492 - 4,492 5,281
Auditors fees - 7,280 7,280 6,361
Mortgage interest - 27,095 27,095 13,962
Fixtures & fittings depreciation 20,236 - 20,236 19,756
Pensions 3,104 - 3,104 3,666
─────── ─────── ─────── ───────
111,682 34,375 146,057 140,353
═══════ ═══════ ═══════ ═══════
5. ANALYSIS OF SUPPORT COSTS
Basis of 2024 2023
Apportionment £ £
Wages 100% of support staff 83,850 91,327
Social security 4,492 5,281
Auditors fees 100% 7,280 6,361
Mortgage interest 100% 27,095 13,962
Fixtures & fittings depreciation 100% 20,236 19,756
Pensions 100% of support staff 3,104 3,666
─────── ───────
146,057 140,353
═══════ ═══════
6. NET INCOME 2024 2023
£ £
Net Income is stated after charging/(crediting):
Depreciation of tangible assets 20,236 19,756
Auditor's remuneration:
- audit services 7,280 6,361
═══════ ═══════
7. INVESTMENT AND OTHER INCOME 2024 2023
£ £
Investment income 12,308 2,877
Bank interest 1,698 1,510
─────── ───────
14,006 4,387
═══════ ═══════

16

continued

Belfast City Vineyard Church

(A company limited by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 August 2024

8. INTEREST PAYABLE AND SIMILAR CHARGES
INTEREST PAYABLE AND SIMILAR CHARGES 2024 2023
£ £
On bank loans and overdrafts 27,095 13,962
═══════ ═══════

9. EMPLOYEES AND REMUNERATION

Number of employees

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

The average number of persons employed (including executive trustees) during the financial year was as follows:

2024 2023
Number Number
Administrative 1 2
Pastoral staff 7 6
─────── ───────
8 8
═══════ ═══════
The staff costs comprise: 2024 2023
£ £
Wages and salaries 199,956 210,475
Social security costs 12,809 14,012
Pension costs 5,306 5,778
─────── ───────
218,071 230,265
═══════ ═══════
10. TANGIBLE FIXED ASSETS
Land and Fixtures, Total
buildings fittings and
freehold equipment
£ £ £
Cost
At 31 August 2024 1,403,824 100,699 1,504,523
─────── ─────── ───────
Depreciation
At 1 September 2023 - 41,443 41,443
Charge for the financial year - 20,236 20,236
─────── ─────── ───────
At 31 August 2024 - 61,679 61,679
─────── ─────── ───────
Net book value
At 31 August 2024 1,403,824 39,020 1,442,844
═══════ ═══════ ═══════
At 31 August 2023 1,403,824 59,256 1,463,080
═══════ ═══════ ═══════
11. DEBTORS 2024 2023
£ £
Other debtors 1,848 1,848
Prepayments and accrued income 9,444 7,309
─────── ───────
11,292 9,157
═══════ ═══════

17

continued

Belfast City Vineyard Church

(A company limited by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 August 2024

12. CASH AND CASH EQUIVALENTS 2024 2023
£ £
Cash and bank balances 183,603 129,311
═══════ ═══════
13. CREDITORS 2024 2023
Amounts falling due within one year £ £
Bank loan 37,336 37,336
Taxation and social security costs 4,037 4,146
Accruals and deferred income:
Pension accrual 1,511 -
Other accruals 6,098 4,996
─────── ───────
48,982 46,478
═══════ ═══════
14. CREDITORS 2024 2023
Amounts falling due after more than one year £ £
Bank loan 296,073 356,314
═══════ ═══════
Repayable in one year or less, or on demand (Note 13) 37,336 37,336
Repayable between one and two years 37,336 37,336
Repayable between two and five years 258,737 318,978
─────── ───────
333,409 393,650
═══════ ═══════

15. PENSION COSTS - DEFINED CONTRIBUTION

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. Pension costs amounted to £5,306 (2023 - £5,778).

16. RESERVES

2024 2023
£ £
At the beginning of the year 1,198,756 1,022,492
Surplus for the financial year 93,928 176,264
─────── ───────
At the end of the year 1,292,684 1,198,756
═══════ ═══════
17. FUNDS
17.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestricted Restricted Total
Funds Funds Funds
£ £ £
At 1 September 2022 686,024 336,468 1,022,492
Movement during the financial year 472,762 (296,498) 176,264
─────── ─────── ───────
At 31 August 2023 1,158,786 39,970 1,198,756
Movement during the financial year 36,800 57,128 93,928
─────── ─────── ───────
At 31 August 2024 1,195,586 97,098 1,292,684
═══════ ═══════ ═══════

18

continued

Belfast City Vineyard Church (A company limited by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 August 2024

17.2 ANALYSIS OF MOVEMENTS ON FUNDS

Balance **Income ** Expenditure Transfers Balance
1 September between 31 August
2023 funds 2024
£ £ £ £ £
Restricted funds
Storehouse 542 15,004 14,799 - 747
Missions 16,427 1,754 1,490 - 16,691
Regional 13,187 31,797 37,945 - 7,039
Property fund 382 128,333 9,825 (51,933) 66,957
Benevolence fund 9,432 1,631 5,399 - 5,664
─────── ─────── ─────── ─────── ───────
39,970 178,519 69,458 (51,933) 97,098
─────── ─────── ─────── ─────── ───────
Unrestricted funds
Unrestricted general 1,158,786 366,291 381,424 51,933 1,195,586
─────── ─────── ─────── ─────── ───────
Total funds 1,198,756 544,810 450,882 - 1,292,684
═══════ ═══════ ═══════ ═══════ ═══════
17.3 ANALYSIS OF NET ASSETS BY FUND
Fixed Current Current Long-term Total
assets assets liabilities liabilities
- charity use
£ £ £ £ £
Restricted funds - 97,098 - - 97,098
─────── ─────── ─────── ─────── ───────
Unrestricted general funds 1,442,844 97,797 (48,982) (296,073) 1,195,586
─────── ─────── ─────── ─────── ───────
1,442,844 194,895 (48,982) (296,073) 1,292,684
═══════ ═══════ ═══════ ═══════ ═══════

18. STATUS

The charity is a company limited by guarantee not having a share capital.

The liability of the members is limited.

Every member of the company undertakes to contribute to the assets of the company in the event of its being wound up while they are members, or within one financial year thereafter, for the payment of the debts and liabilities of the company contracted before they ceased to be members, and the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributors among themselves, such amount as may be required, not exceeding £ 1.

19.

TRUSTEES' REMUNERATION 2024 2023
£ £
Remuneration including pension contributions 75,512 71,834
═══════ ═══════

There were no expenses paid to Trustees during the year ended 31 August 2024 nor for the year ended 31 August 2023.

19

continued

Belfast City Vineyard Church (A company limited by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 August 2024

20 RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET DEBT

Opening Cash Other Closing
balance flows changes balance
£ £ £ £
Long-term borrowings (356,314) - 60,241 (296,073)
Short-term borrowings (37,336) 60,241 (60,241) (37,336)
─────── ─────── ─────── ───────
Total liabilities from financing activities (393,650) 60,241 - (333,409)
═══════ ═══════ ═══════ ───────
Total Cash at bank and in hand (Note 12) 183,603
───────
Total net debt (149,806)
═══════

21. POST-BALANCE SHEET EVENTS

There have been no significant events affecting the Charity since the financial year-end.

22. SECURED DEBTS

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

23. CAPITAL COMMITMENTS

At the year end the charity had a capital commitment of £33,500 in relation to retention monies due on the renovation of the property at 92-114 Cavehill Road, Belfast.

24. RELATED PARTY DISCLOSURES

Belfast City Vineyard make payments on behalf of Storehouse (NI) to their staff pension scheme. Storehouse (NI) then reimburse Belfast City Vineyard. At 31 August 2024 £1,849 was owed to Belfast City Vineyard Church by Storehouse (NI) in relation to outstanding pension payments.

Belfast City Vineyard operate a restricted fund relating to donations received for Storehouse (NI), movement in this fund is detailed in note 17.2.

Alan Carson and Andrew Smith are Trustees of both Belfast City Vineyard and Storehouse (NI).

20

BELFAST CITY VINEYARD CHURCH

(A company limited by guarantee, not having a share capital)

SUPPLEMENTARY INFORMATION

RELATING TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024

NOT COVERED BY THE REPORT OF THE AUDITORS

21

Belfast City Vineyard Church

(A company limited by guarantee, not having a share capital) SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS

Operating Statement

for the financial year ended 31 August 2024

2024 2023
£ £
Income
Donations 407,164 413,212
Gift aid 75,054 70,079
Grants 44,000 154,878
Other income 4,586 -
─────── ───────
530,804 638,169
─────── ───────
Expenses
Wages and salaries 199,956 210,475
Social security costs 12,809 14,012
Trustees' defined contribution pension costs 1,392 1,330
Staff defined contribution pension costs 3,914 4,448
Operational 58,535 70,702
Ministry 89,850 83,822
Out Gifting 29,815 41,424
Auditor's remuneration 7,280 6,361
Depreciation 20,236 19,756
─────── ───────
423,787 452,330
─────── ───────
Finance
Bank interest paid 27,095 13,962
─────── ───────
Miscellaneous income
Investment income 12,308 2,877
Bank interest 1,698 1,510
─────── ───────
14,006 4,387
─────── ───────
Net surplus 93,928 176,264
═══════ ═══════

The supplementary information does not form part of the audited financial statements

22

Digitally signed by SuiteFiles Document Signing Reason: Signature requestedLocation: User IP : 143.117.255.86 Date: 2025.05.13 09:25:29

SuiteFiles Document Signing