CHARITY REGISTPATION NUMBER: N1103629 Crescent Church Belfast Unaudited Financial Statements 30 June 2023 AUBREY CAMPBELL & COMPANY Chartered Accountanis 631 Lisburn Road Belfast BT9 7GT
Crescent Church Belfast Financial Statements Year ended 30 June 2023 Page Trustees, annual report Independent examinerfs report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements 10 11
Crescent Church Belfast Trustees, Annual Report Year ended 30 June 2023 The trustees present their report and the unaudited financial statements of the charity for the year ended 30 June 2023. Reference and administrative details Registered charity name Crescent Church Belfast Charity registration number N1103629 Principal office 6 University Road Belfast BT71NH The trustees Mr D Bingham ( Retired elderl Mr G Glass (Elder) Mr R Abraham (Elder) Mr J Crookes (Elderl Mr D Farrell (Elder) Mr J Graham Mr W Johnston {Elder) Mr R Scott Mr M McNeice Mr N Boyd (Elderl Mr N Mcmullan (Elder) Mr T Cullen {Elder) Mr J Donaldson {Elder) John Magee 631 Lisburn Road Belfast BT9 7GT (Resigned 2 January 2023) Independent examiner structure, governance and management The method of appointment of Trustees of Crescent Church is set out in the Declaration of Trust for Crescent Church. At Crescent Church there are currently thirteen Trustees who are accountable for the management and administration of the charity- In accordance with the Declaration of the Trust the Trustees have delegated their powers to a committee of elders who are responsible for the spiritual leadership of the Charity. The Trustees met twice during the year. The elders meet on the 2nd and 4th Monday of each month. Given the wide responsibilities of the eldership, the elders have created a number of committees, each dealing with a particular aspect of church life. These committees which include Ministry, Mission, Evangelism, Youth and Finance are all responsible to the elders and report back to the elders regularly, with minutes of their deliberations being received by the elders and discussed as necessary.
Crescent Church Belfast Trustees, Annual Report(¢ontinued) Year ended 30 June 2023 Objectives and activities Aim and purpose Crescent Church is a Bible-based Christian fellowship which has served God in Belfast for over a century. We seek to understand and live by the Bible to give everyone the opportunity to become mature and devoted followers of Jesus Christ. Objectives and activities When planning our activities for the year, the trustees have considered the Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. In the New Testament, a local church consisted of all Christians in a given locality, but now there is practically no complete expression of this principle. Nevertheless, in accordance with the teaching of the New Testament, Christians may meet together and function as an independent, self-governing church, recognising the authority of God's Word, the Lordship of Christ and the sovereignty of the Holy Spirit. It will give expression to the teaching of the New Testament in its worship, doctrine and service. In accordance with this guidance and to follow our objectives as laid out in our Declaration of Trust, we have the following stated objectives.. a. To advance the gospel of Jesus Christ among the general public, in accordance with the biblical principles and practice both in the UK and abroad in a manner consistent with the statement of faith appended as schedule I., b. To prevent or relieve povety among those in hardship., c. To relieve those in need due to their adverse circumstance,. and d. To advance education among those who are disadvantaged due to their adverse circumstances. These objects may be pursued in the United Kingdom or abroad at the dis- -retion of the Trustees. To facilitate this work it is important that we maintain the fabric of Crescent Church and the adjoining church halls.
Crescent Church Belfast Trustees, Annual Report (contlnued) Year ended 30 June 2023 Ach5evements and performance Achievements and performance Crescent Church has a number of services and activities that take place each week and during the course of the year that the members of the public and members of the Church find both beneficial and spiritually fulfilling. Public worship We have three services each Sunday, in the morning and one in the evening. On Sunday mornings, we have two services.. our communion service which starts at 10.00am with an average weekly attendance of 150 and our morning family service at 11.'OOam which would have approximately 200 people attending regularly. Creche facilities are provided for both of these services and our Sunday School runs during the morning family service. The Sunday evening service which is held each week at 7'.00pm and has an average weekly attendance of approximately 150, many of whom are visitors to the Church. Our young people's Bible class, known as CY (Crescent Youth) aimed at 11-18 year olds runs during the normal evening service. All services are open to members of the public. It is our firm conviction that the Bible has an important and relevant message for society and for individuals. We are convinced that the Bible, as originally given, is completely true and accurate. It is our only authority for what we believe and practice. The Church plans its Bible leaching and outreach programmes with care. The programmes run on a three-yearly cycle. with each series of consecutive leaching generally lasting around five weeks. The programme is delivered by a mix of visiting speakers from the UK and Ireland, and our in-house Bible teaching team. Fellowship - Prayer and Bible studies Fellowship life is not confined to Sundays. The Church meets for prayer every other Thursday evening at 8.00pm with an average attendance of 40 people and depending on the speaker {e.g. an overseas missionary) we sometimes hold the prayer meetings on-line using zoom. There is a group of approximately 10- 15 members who have continued to meet every weekday for prayer at 7-.00pm. Crescent is an urban Church. Many of our members live some distance from the building in University Road so we have a well- established network of regional Prayer and Bible Study groups which meet once a fortnight in the homes of Church members. These groups provide an invaluable way to get to know other people in the fellowship. There is one regional Prayer and Bible study group that meets on-line via zoom and one that meets on a Tuesday morning in the Church building. Working together The life of a large Church fellowship needs to be co-ordinated. We organise ourselves using five committees and about hjenty work groups. The committees cover finance, youth policy, ministry, overseas mission, outreach. We also have a number of "Co-ordinators" who are responsible for the physical fabric of the building, for Health & Safety issues, Child Protection and audio-visual support for our services. These work groups cover everything from catering to communications and security. Day to day co-ordination of church life is carried out by our part-time support team. The team is made up of four salaried staff members, supported by a number of volunteers from the Church. The support team does more than administration.. it mobilises the development of new ministries and organises all the technical, safety, and ministry training which our youth leaders require. Caring for the Church We believe that Church leadership is not vested in one person. The Biblical model is that leadership in the Church should be plural.- it is given to a team of 'elders" who are responsible for providing pastoral
Crescent Church Belfast Trustees, Annual Reportfcontinued) Year ended 30 June 2023 care and upholding the timeless principles governing Church life laid down in the Bible. Crescent Church has a pastoral care team that visits members who 8re not able to attend church services regularly and also provides pastoral support to members and their families in times of illness and bereavement. Overseas Mission Crescent Church has a long history of supporting overseas mission. A number of missionary families from the Crescent are serving the Lord across the world in South Africa, Spain and Europe. A good deal of fellowship life focuses on supporting over¢4eas mission. One of our ladies, ministries is centred on the support of Christian missionaries across the world. We send teams of young people out most summers to spend time with our missionaries, and in July 2022 we sent a team of 11 to Durres in Albania lo to run a series of Kids Clubs and support the local church. In August 2022 we ran a community outreach week with a team of 40 people from our Church running a series of events which they invited members of the public to culminating in a musical concert and family barbeque, both of which were well supported by the local community. Our Mission activity is structured around a number of areas.. 1. Commended missionaries sent out from the Church, and supported financially by the Church, to serve the Lord in various regions of the work building His church throughout the world, 2. Three 3-year mission projects: 2 students at l BEI Bible College in Italy, a church planting project in Argentina and a Bible Education Service (BES) schools project in Ireland. 3. One 1-year mission projects.. Support for Waakisa pregnancy crisis centre Uganda, Christian Union Ireland relay worker in Belfast. 4. Mission partners on-going mission projects and missionary organisations supported by members of our church through ear-marked giving including Mission Albania (Tekura), Echoes of Service, Waakisa Ministries, Tear Fund, St. Nicholas Children's home Kenya, South Belfast Foodbank and Sandes. We also send members of our Bible teaching team into the mission field for short periods, to provide training of national Church leaders. Family Values Crescent Church tries to provide a supportive environment for couples who are doing the most important job in the world raising a family. We provide fellowship opportunities for women lo spend time together. Our Overse8s Link group normally meets once a month on a Monday night to enjoy a varied programme focussed on mission. We have recently initiated a women's Bible study programme which has been well supported over the year and number continue to grow. Youth Activities Young people need the right sort of social coniext in which to develop. They need to get out and about, develop a nebNork of friends, and learn from good role models. The Crescent normally operates an extensive youth programme, however, because of the pandemic much of the work was suspended throughout the year. The Church continued to operate a Youth Fellowship (Crescent Youth or CY} and a Sunday School (Crescent Kids or CK). All our workers operate under Lhe auspices of the Church's Child Protection and Safeguarding policies. From September 2019 the church has employed a full time Youth and Young adults worker to co-ordinate youth work. Crescent young people are encouraged lo become part of the church's community life, rather than live in a separate sub-culture. During the month of August our services are designed primarily to support children and teenagers. Our aim is to facilitate the development of relationships across the generations so that young people will be supported and encouraged by the adults in the Church. Student Ministries Crescent is situated at the heart of the student scene which has grown up around Queen's University Belfast. The Crescent Bible teaching team places a particular emphasis on apologetics, helping us "give a reason for the living hope within us" We have a student support team available throughout the week
Crescent Church Belfast Trustees. Annual Report (continued) Year ended 30 June 2023 to help and equip students. The Church operates a ministry in conjunction with Queens University Belfast Christian Union which is attended by on average 30 students. It is designed to cater to the needs of International students. Other activities There are a number of other activities that take place on a regular basis, including.' 'Rooted" Bible teaching and fellowship for approximately 20 to 25 young adults; English Language Class meets on a Wednesday to teach English to non-English speakers living in the vicinity of the Church. This class continues to be well attended and moved on-line during the pandemic. A number of our members actively volunteer with South Belfast Foodbank Trussel Trust, and the food collection is supported by the wider congregation. Financial review Financial review Total receipts on unrestricted funds were £292.747 Restricted donations of £112,811 were also received, giving a total income of £405.558 which is detailed in the Financial Statements. The car park continues to be let from Monday to Friday, providing gross iricome of £17,424. £162.380 was spent to support the Christian ministry from Crescent Church, and £91,819 was spent on the running of the church. A total of £5,520 was spent on refurbishment work around the church. The net result for the year was an excess of receipts over expenditure of £141,622. Adding the bank balance brought forward at the beginning of the year, the balances carried fomard at 30th June 2023 totalled £440,315 (including £80,975.60 from the closed building fund). The building fund account was closed in error by the Bank QT Ireland with a closing balance on 14 Dec 2021 of £80,975.60, a further £39,730 has been donated to the building fund, giving a balance £120,705.60 which has been set aside towards the future work on the church building and infrastructure, and is now included in the current account. Reserves policy The Finance committee policy is to maintain a balance of unrestricted funds (if possible), which equates to two months unrestricted payments, equivalent to approximately £50,000, to cover emergency situations that may arise from time to time. The balance of unrestricted funds of £319.609 (equates to current account £440,315 minus the building fund closing balance £120,705), was in excess of this target. Serlous incident reporting No serious incidents or other matters occurred that needed to be brought to the Charity Commissions attention. Funds held as custodian trustee Crescent Church does not administer the funds of any other entities. Exemptions from disclosure No exemptions from disclosure were applied for.
Crescent Church Belfast Trustees, Annual Report (confinued) Year ended 30 June 2023 Schedule 1. Statement of faith Here at Crescent Church, we seek to understand and live by the Bible, to give everyone the opportunity to become mature and devoted followers of Jesus Christ. We live in a world full of different religious beliefs lor no beliefs}, and so the following points define the core beliefs and practices of the church. The Bible, as originally given, Is the verbally inspired by God. Through it God speaks to us and every word is infallible. It is our only authority for what we believe and practice. There is only one God, revealed in the Bible as three persons, the Father, the Son and the Holy Spirit. These three are One God, co-eternal and co-equal. The Lord Jesus Christ, the Son of God. became man, being conceived by the Holy Spirit and born of the Virgin Mary. He is perfect and eternal God, and perfect sinless man. God created man, male and female, in his image and likeness. Because man sinned, universal sinfulness and guilt renders everyone subject to God's righteous wrath and condemnation. The death of the Lord Jesus Christ upon the cross was on behalf of sinners and a sacrifice to God and a propitiation for remission of sin. Through His sacrificial death there is redemption from the guilt, penalty and power of sin. He is the only mediator beeen God and man. On the third day after His crucifixion, the Lord Jesus Christ was raised in His physical body from the death. He was seen alive by his disciples during the foty days after His resurrection and in His risen glorified body. He ascended into heaven to the right hand of God the Father and is now the all-sufficient High priest of His people_ The Lord Jesus Christ will personally return to raise the dead in Christ and they together with living believers will meet Him and reign with Him. Salvation is not by works but through repentance for sins and faith in Jesus Christ, the Son of God alone. By an act of God's undeserved mercy, the believing sinner is forgiven all his sins, is justified before God, receives eternal life and is accepted as righteous in His sight. At death the spirit of man does not cease to exist or become unconscious. The dead will be raised either to eternal life or eternal separation from God There will be final judgment for those who have not been saved and whose names are not found in the Book of Life. The Holy Spirit convinces individuals of their sin and leads them to faith in Jesus Christ and makes them alive in Christ. He indwells every Christian, producing in them holiness of living, good works and increasing likeness to Christ in character and behaviour, and empowers them to witness in the world. There is one Universal Church, the body of Christ. Into the body of which the Lord Jesus Christ is head, all Christians have been baptised in the Holy Spirit.
Crescent Church Belfast Trustees, Annual Report {contlnued) Year ended 30 June 2023 The trustees, annual report was approved on 29 February 2024 and signed on behalf of the board of trustees by.. George Glass Chairman of Trslee$
Crescent Church Belfast Independent Examiner's Report to the Trustees of Crescent Church Belfast Year ended 30 June 2023 I report to the trustees on my examination of the financial statements of Crescent Church Belfast I'the charity,) for the year ended 30 June 2023. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act (Northern Ireland) £008 (the '2008 Act,). You are satisfied that your charity is not required by charity laiv to be audited and have chosen instead to have an independent examination. I report in respect of my examination of the Lharity's financial statements as carried out under section 65 of the 2008 Act. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 65(9}(bl of the 2008 Act. Independent examinerfs statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 65 of the 2008 Act. I confirm that l am qualified to undertake the examination because l am a member of Chartered Accountants Ireland, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with my examination giving me cause to believe that in any material respect.. accounting records were not kept as required by with section 63 of the 2008 Act-, or the financial statements do not accord with those records,. or the financial statements do not comply with the accounting requirements of the 2008 Act., or the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out il the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached. Independent Examiner 631 Lisburn Road Belfast BT9 7GT
Crescent Church Belfast, Statement of Financial Activities Year ended 30 June 2023 2023 Restricted funds Total funds Total funds Unrestricted funds 2022 Note Income and endowments Donations and legacies Investment income Other income 260,011 105,926 365,937 382,955 20 34,684 39,822 299,633 39,622 405,559 Total income 105,926 417,659 Expenditure Expenditure on charitable activities Total expenditure 139,436 139,436 121,641 261,077 285, 184 121,641 261,077 285,184 Net income and net movement in funds 160,197 (15,715) 144,482 132,475 Reconcillation of funds Total funds brought forward Total funds carried forward 642,551 802,748 687,840 1,330,391 1,197,916 1,330,391 672,125 1,474,873 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities The notes on pages 11 to 18 fomi part of these financial staternents.
Crescent Church Belfast Statement of Financial Position 30 June 2023 2023 2022 Note Fixed assets Tangible fixed assets 13 1,031,029 1,031,503 Current assets Debtors Cash at bank and in hand 14 4,981 440,316 3,853 298,694 445,297 302,547 Creditors.. amounts falling due within one year Net current assets 15 1,453 3,659 443,844 298,888 Total assets less current liabilities Net assets 1,474,873 1,474,873 1,330,391 1,330,391 Funds of the charity Restricted funds Unrestricted funds 672,125 802,748 687,840 642,551 Total charlty funds 16 1.474,873 1,330,391 These financial statements were approved by the board of trustees and authorised for issue on 29 February 2024, and are signed on behalf of the board by= 5V2ts MrG Trustee ass (Elder) The notfjs on pages 11 to 18 fomi part of these financial ststements. 10
Crescent Church Belfast Notes to the Financial Statements Year ended 30 June 2023 General information The charity is a public benefit entity and a registered charity in Northern Ireland and is unincorporated. The address of the principal office is 6 University Road, Belfast, BT7 1 NH. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the 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) (Charities SORP (FRS 102>) and the Charities Act {Northern Ireland) 2008. Accounting policies Basis of preparation The financial statements have been prepared oi ihe historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, whiLn is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestrictea funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes.. restricted income funds or endowment funds. 11
Crescent Church Belfast Notes to the Financial Statements (continuea) Year ended 30 June 2023 Accounting policles f¢ontlnued) Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity., it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular Categories of income.. income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount carl be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are COgnised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for il to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further ils charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to. that activity. Shared costs are apportioned beeen the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently slated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 12
Crescent Church Belfast Notes to the Financial Statements (continued) Year ended 30 June 2023 Accounting policies (continued) Tangible assets (continued) An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows.. Motor vehicles Equipment 250/0 reducing balance At 2. 50/0 and 10 % straight line Impairment of flxed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Vvhere the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill. the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected lo benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Flnancial instruments A financial asset or a financial liability is recognised only when the charity becomes a paty to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. 13
Crescent Church Belfast Notes to the Financial Statements fcontinued) Year ended 30 June 2023 Accounting policies {¢ontinued) Financial instruments (¢ontintsed) Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond nomal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately. to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2023 Donations General Donations 260,011 260,011 Other donations and legacies Restricted fund income Building fund income 86,466 19,460 86,466 19.460 260,011 105,926 365.937 Unrestricted Funds Restricted Total Funds Funds 2022 Donations General Donations 266,918 266,918 Other donations and legacies Restricted fund income Building fund income 95,767 20,270 95,767 20,270 382,955 266,918 116,037 14
Crescent Church Belfast Notes to the Financial Statements (continued) Year ended 30 June 2023 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Bank interest receivable 20 20 Other income Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Other income 39,622 39,622 34,684 34,684 Expenditure on charltable activities by fund type Unrestricted Funds Restricted Total Funds Funds 2023 Church expenditure 139,436 121,641 261,077 Unrestricted Funds Restricted Total Funds Funds 2022 Church expenditure 126,269 158,915 285,184 Expenditure on charitable activities by activity type Activities undertaken Total funds directly 2023 Total fund 2022 Church @xpenditure 261,077 261,077 285,184 Net income Net income is stated after chargingl{crediting)= 2023 2022 Depreciation of tangible fixed assets 1,523 1,418 10. Independent examinatlon fees 2023 2022 Fees payable to the independent examiner for.. Independent examination of the financial statements 1,518 1,518 15
Crescent Church Belfast Notes to the Financial Statements {contlnued) Year ended 30 June 2023 11. Staff costs The total staff costs and employee benefi'ts for the reporting period are analysed as follows: 2023 2022 Wages and salaries 34,887 59,915 The average head count of employees during the year was 4 (2022.. 41. The total staff costs and employee benefits for the ieporting period are analysed as follows- 2023 2022 Wages and salaries 34,867 59,915 No employee received employee benefits of more than £60,000 during the year (2022.. Nil). 12. Trustee remuneration and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees during the year ended 30 June 2023. During the year ended 30 June 2022 Mr Norman Boyd was paid £13,572 for his role as Operations Manager of the Church. 13. Tangible fixed assets Freehold property Motor vehicles Equipment Total Cost At 1 July 2022 Additions 1,000,000 17,814 38,805 1,049 1,056,619 1,049 At 30 June 2023 Depreciation At 1 July 2022 Charge for the year At 30 June 2023 1,OOG.,000 17,814 39,854 1.057,668 17,814 7,302 1,523 25,116 1,523 26,639 17,814 8,825 Carrying amount At 30 June 2023 1,000,000 1,000,000 31,029 1,031,029 1,031,503 At 30 June 2022 31,503 16
Crescent Church Belfast Notes to the Financial Statements fcontlnued) Year ended 30 June 2023 14. Debtors 2023 2022 Prepayments and accrued income 4,981 3,853 15. Creditors.. amounts falllng due within one year 2023 2022 Accruals and deferred income Social security and other taxes 1,350 103 3,300 359 1,453 3,659 16. Analysis of charitable funds Unrestricted funds At 1 July 2022 At 30 June 202 Income Expenditure 299,633 General funds 642,551 {139,4361 802,748 At 1 July 2021 At Income Expenditure 30 June 2022 301,622 1126.2691 General funds 467,198 642,551 Restrlcted funds At 1 July 2022 At 30 June 202 Income Expenditure Building Fund Earmarked Funds 687,840 19,460 86,466 {35,1751 (86,466} (121,6411 672,125 687,840 105,926 672,125 At 1 July 2021 At Income Expenditure 30 June 2022 22,397 (65,275) 93,640 687.840 {93,640) 116,037 (158,915) Building Fund Earmarked Funds 730,718 730,718 687,840 17
Crescent Church Belfast Notes to the Financial Statements (¢ontlnuedJ Year ended 30 June 2023 17. Analysls of net assets between funds Unrestricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net assets 1,031,029 445,297 {1,453} 1,474,873 1,031,029 445,297 11,453} 1,474,873 Unrestricted Total Funds Funds 2022 Tangible fixed assets Current assets Creditors less than 1 year Net assets 1,031,503 302,547 (3,6591 1,330,391 1,031,503 302,547 (3,659) 1,330,391 18. Financial instruments For financial instruments measured at fair value, the basis for determining fair value must be disclosed. When a valuation technique is used, the assumptions applied in determining fair value for each class of financial assets or financial liabilities must be disclosed. If a reliable measure of fair value is no longer available for ordinary or preference shares measured at fair value through profit or loss, this must also be disclosed. 18