CHARITY REGISTRATION NUMBER: N1103629 Crescent Church Belfast Unaudited Financial Statements 30 June 2024 AUBREY AIIJIPBELL Chartered Accountants 631 Lisburn Road Belfast BT9 7GT MPANY
Crescent Church Belfast Financial Statements Year ended 30 June 2024 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities 10 Statement of financial position 11 Notes to the financial statements 12
Crescent Church Belfast Trustees, Annual Report Year ended 30 June 2024 The trustees present their report and the unaudited financial statements of the charity for the year ended 30 June 2024. Reference and administrative details Registered charity name Crescent Church Belfast Charlty registraiion 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 Johnsion (Elder) Mr M McNeice Mr N Boyd {Elder} Mr N Mcmullan {Elderl Mr T Cullen {Elder} Mr J Donaldson {Elder) Independent examiner John Magee 631 Lisburn Road Belfast BT9 7GT Slructure, governance and management The method of appointment for Trustees of Crescent Church is set out in the Declaration of Trust for Crescenl Church. At Crescent Church there are currently thirteen Trustees who are accountab5e 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 (continued) Year ended 30 June 2024 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 a mature and devoted follower of Jesus Christ. Objectives and activities When planning our activities lor the year. the trustees have considered the Commission's guidance on public benefit, and particularly 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 Ihe New Testament. Christians may come together and function as an independent, self-governing church, recognising ihe 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 poverty among those in hardship; c. To relieve those in need due to their adverse circkn'mstance., 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 discretion 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 2024 Achievements and performance Achievemenls and performance Crescent Church has a number of services and activities that take platie each week and during the course ol the year that the members of the public and members of the Church find both beneficial and spiritually fulfilling. Public worship We have Ihree services aach Sunday, two in the Inorning and one in the evening. On Sunday mornings. we have services: our co47.munion service which starts at 10.15am with an average weekly attendance of 135 and our mornlng lamily service at 11:00am which would have approximately 200 people attending regularly. Creche lacilities are proviaed 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 olos runs cluring the normal evening servica. All services are open to members of the public. It is our firm conviction that Ihe 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 aulhority for what we believe and practice. The church plans its Bible teaching and outreach programmes with care. The programmes run on a three-yearly cycle, with each series of consecutive teaching 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 wilh an average attendance of 40 people and depending on the speaker (e.g. an overseas missionary) lie 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 al 7:00pm. Crescent is an urban Church. Many ol our members live some distance from the building in University Road so we have a well- established network of . k•¥iional Pl-ayer and Bible Study groups which meet once a fortnight in the homes of Church members. These groups provide an invaluable way to gel 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 iTeets 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 twenty work groups. The committees cover finance, youth policy, ministry, overseas mission, outreach. We also have a number of "Co-ordinators" who are responsible lor the physical fabric ol the building, tor 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 oy 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 administralion- 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 lo a team of "elders" who are responsible for providing pastoral
Crescent Church Belfast Trustees, Annual Report (continued) Year ended 30 June 2024 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 are 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 overseas 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 2023 we sent a team of 11 to Durres in Albania to to run a series of Kids Clubs and support the local church. In August 2023 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 IBEI 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 aakISa pregnancy crisis Centr Uganda, Bangaladesh Theological Training. Reach - Friends International in Ireland. 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 to spend time together. Our Overseas 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 numbers continue to grow. Youth Activities Young people need the right sort of social context in which to develop. They need to get out and about, develop a nelwork of friend8, and learn from good role models. The Crescent operates an extensive youth programme. About 200 children and young people pass through Crescent youth works each week. We are part of a world-wide church-based organization called "rallies" Every Boys Rally (EBR) and Every Girls Rally (EGR) are based on Christian principles and seek to cater for Ihe physical, educational: social and spiritual needs of its members. The word 'every' is important: our rallies are open to everyone irrespective of backgrouno,, religion or ability. A typical night will include sports and team games; an informal educational session and an epilogue on
Crescent Church Belfast Trustees. Annual Report (continued) Year ended 30 June 2024 real-life issues based on the leaching of the Bible. The Church operates olher youth activities as well as the rallies - a Youth Fellowship (Crescent Youth or CY), Bible School and Bible Class {Crescent Kids or CKI. All our workers operate under the auspices of the Church's Child Protection and Safeguardiiig policies. Crescent young people are encouraged to become part ol 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 teen2.Jers. Our aim is to facilitate the development of relationships across the generationc so that young people will be supported and encouraa-. d by the adults in the Church. Student Ministries Crescent is situated at the lieart 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 laam available Ihroughout the week to help and equip sludents. The Church operates a ministry in conjunction with Queens University Belfast Christian Union which is attended by on average ?0 students. It is designed to cator to the needs of internalional students. We also provide a student lunch on a Wednesday, in partnership viith the Queen's University Chaplin. Other activities There are a number of other aclivities 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. A number ol our members actively volunteer with South Belfast Foodbank - Trussel Trust, and the food collection is supported by the wider congregation. A number of our members are involved in 'Community Chaplins, where they offer spiritual care and pastoral support to individuals within the local community.
Crescent Church Belfast Trustees, Annual Report (conllnued) Year ended 30 June 2024 Flnanclal review Financial review Total receipts on unrestricted funds were £311,170. Restricted donations of £95.049 were also received, giving a total income of £406,219 which is detailed in the Financial Statements. The car park continues to be let from Monday to Friday, providing gross income of £17,216. £177,006 was spent to support the Christian ministry from Crescent Church, and £112,113 was spent on the running of the church. A total of £6,108 was spent on refurbishment work around the church. The net result for the year was an excess of receipts over expenditure of £109,312. Adding the bank balance brought forward at the beginning of the year. the balances carried forward at 30th June 2024 totalled £549.627 (including £140,000 transferred to Kingdom Bank as the building fund). A building fund account was opened with Kingdom Bank which has been set aside to be used towards the future work on the church building and infrastructure. 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 lo time. The balance of unreslricted funds of £409,566 (equates to current account £549,627 plus the Kingdom Bank balance £140,000}, was in excess of this target. Serious 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 (continued) Year ended 30 June 2024 Schedule 1. Statement of faith Here at Crescent Church, we seek lo undersland 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 (or no beliefs), and so the following points define the core beliefs and praclices of Ihe 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 Op,e 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 reiiders 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 lo 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 medialor between God and man. On the Ihird 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 ihe foty days after His resurreclion and in His risen glorified body. He ascended into heaven to the right hand of God the Father and is now the all-sufficienl High priest of His people. The Lord Jesus Chrisl will personally return to raise the dead in Christ and they together with living believers will Ineet 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 lile or eternal separation from God There will be final judgment for those who have not hpen 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 Chrisl 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 th.am to witness in Ihe world. There is one Universal Church. the body of Christ. Into the body of which the Lord Jesus Christ is head, all Christians have baen baptised in the Holy Spirit.
Crescent Church Belfast Trustees. Annual Report (continued) Year ended 30 June 2024 The trustees, annual report was approved on 22 April 2025 and signed on behalf of the board of trustees by.. George Glass Chairman of Trustees
Crescent Church Belfast Independent Examiner's Report to the Trustees of Crescent Church Belfast Year ended 30 June 2024 I report to the trustees on my examinalion of the financial statements of Crescent Church Bel*ast {'the charity'l for the year ended 30 June 2024. Responsibilities and basis ot 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) 2008 (the '2008 Act'l. You are satisfied that your charity is not required by charity law to be audited and have chosen instead to have an independent examination. I report in respect of my examination of the charity'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 6519}{b) of the 2008 Act. Independent examiner's statement Since the charity's gross income exceeded £25fJ,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 Accountanls 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 kepi 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 conlent of accounts set out in the Charities {Accounts and Reports) Regulations 2008 other than any requirement that Ihe accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. I confirm thai there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached. Mage nde Inde Examiner 631 Lis Belfast BT9 7GT rn Road
Crescent Church Belfast Statement of Financial Activities Year ended 30 June 2024 2024 Restricted funds Total funds 2023 Unrestricted funds Total funds Nole Income and endowments Donations and legacies Other income 270,852 40,318 95,049 365,901 40,318 406.219 365,937 39,622 405.559 Tolal income 311,170 95,049 Expenditure Expenditure on charitable activities Tolal expendilure 164,129 134,885 134,885 299,014 261,077 164,129 299,014 261.077 Net income and net movement in funds 147,041 139,836} 107,205 144,482 Reconciliation of funds Total funds brought foNard Total funds carried fOard 802,748 672.125 1,474,873 1,330,391 1.474,873 949,789 632,289 1,582.078 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive Irom continuing activities. The notes on pages 12 to 19 form part of these flnanclal statements. 10
Crescent Church Belfast Statement of Filianla1 Position 30 June 2024 2024 2023 Note Fixed assels Tangible fixed assets 12 1,029,593 1,031,029 Current assets Debtors Cash at bank and in hand 4,781 550,460 4,981 440,316 445,297 555,241 Creditors: amounts falling due within one year Nel current assets 14 2,756 1,453 552,485 443,844 1,474,873 Total assets less current liabilities 1,582,078 Net assets 1,582,078 1,474,873 Funds of the charity Reslricled funds Unrestricted funds 632,289 949,789 672,125 802.748 Total charity funds 15 1.582,078 1,474,873 These financial statEmeiits were approved by ihe bo¢ird of trustees and authorised for issue on 22 April 2025, and are signed on behali of the board by: Mr G Glass (Elder) Trustee The notes on pages 12 to 19 form park of these flnanclal sttatements. 11
Crescent Church Belfast Notes to the Financial Statements Year ended 30 June 2024 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 10211 and the Charities Act INorttr..ern Ireland) 2008. Accounting policies Basis of preparation The financial statements have been prepared on the 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, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Judgemenis 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 accounling Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted 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. 12
Crescent Church Belfast Notes to the Financial Statements (contlnued) Year ended 30 June 2024 Accounting policies (continued) Incoming resources All incoming resources are included in the statement of financial activities when entitlement has Passed to the charity,. it is probable thai the econoriiic benefits associated with the iransaction will flow to Ihe 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 can be measured reliably. legacy income is recognised when receipt is probable and entillement is established. income from donated goods is measured at the fair value of the goods unless this is impractical lo measure reliably, in which case the value is derived from the cosi to the donor or Ihe estimaled resale value. Donated facilities and services are recognised in Ihe accounts when received if Ihe value can be reliably measured. No amounts are included for the contribution of general volunteers. income from conlracts for the supply of ¢ervices is recognised with the delivery of thc contracied service. This is classified a-s iinrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regai'ded as restricted. Resources expe.nded Expenditure is recGgnised on an accruals baaPiS as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered. and is classifiea under headings of Ihe statement of financial activitieo to h1¢h 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 its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of Ihe 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 aclivities. All costs are allocated to expenditure categories reflecting the use ol the resource. Direct costs attributable to a single activity are allocated directly to thal activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less an, accumulated depreciation and impairmen! losses. Any tangible assets carried at revalued amounts are recorded at the lair value at the date of revaluation less any subsequent accumulated depreciation and subsequenl accumulated impairment losses. 13
Crescent Church Belfast Notes to the Financial Statements {conllnued) Year ended 30 June 2024 Accounting policies (continued) Tangible assels (contlnued) 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 ol an asset. less its residual value, over the useful economic life of that asset as lollows- Motor vehicles Equipment 25 /0 reducing balance At 2.5 % and 10•/o Straight line Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed lor possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount ol an individual asset, an estimate is made of the recoverable amount of the cash- generating unil to which the asset belongs. The cash-generating unit is the smallest idenlifiable group of assets that includes the asset and generales 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 dale, allocated to each of the cash-generating units thal are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Financial 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. 14
Crescent Church Belfast Notes to the Financial Statements (¢ontinued) Year ended 30 June 2024 Accounting policies fcontlnued) Financial instruments (continued) Other financial inslrurnents, including derivatives, are initially recognisad at fair value, unless payment for an asset is deferred beyond normal business terms or financed ai a rate of inlerest that is not a market rate, in which case the asset is measured al IFie present value of the future payments discounted at a market rate of inlerest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, witn the exceplion 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 impairmenl. 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 ol 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 Ihe 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 woulcl have been had thé impairment not previously been rocognised. Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2024 Donations General Donations 270,852 270,852 Other donations and legacles Restricted fund income Building fund income 72,364 22,685 72,364 22.685 270,852 95,049 365,901 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 19,460 365,937 260,011 105,926 15
Crescent Church Belfast Notes to the Financial Statements (contlnued) Year ended 30 June 2024 Other income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Other income 40,318 40,318 39,622 39,622 Expenditure on charitable activities by fund type Unrestricted Funds Restricted Total Funds Funds 2024 Church expenditure 164.129 134,885 299.014 Unrestricted Funds Restricted Total Funds Funds 2023 Church expenditure 139,436 121,641 261,077 Expenditure on charitable activities by activity type Activities undertaken Total funds directly 2024 Total lund 2023 Church expenditure 299,014 299,014 261,077 Net income Net income is stated after chargingllcrediting): 2024 2023 Depreciation of tangible tixed assets 1,436 1,523 Independent examination fees 2024 2023 Fees payable to the independent examiner lor: Independent examination of the financial statements 1,450 1.518 10. Staff costs The total staff Costs and employee benefits for the reporting period are analysed as follows: 2024 2023 Wages and salaries 36,608 34,867 The average head count of employees during the year was 512023: 4). 16
Crescent Church Belfast Notes to the Financial Statements (contlnued) Year ended 30 June 2024 10. Staff costs (continued) The total stalf costs and employee benefits for the reporting period are analysed as follows: 2024 2023 Wages and salaries 36,608 34,867 No employee received employee benefits of more than £60,000 during Ihe year12023: Nill. 11. 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 2024. 12. Tangible fixed assets Freehold propety Motor vehicles Equipment Toial Cost At 1 July 2023 and 30 June 2024 Depreciation At 1 July 2023 Charge lor the year At 30 June 21)24 1,000,000 17,814 39,854 1,057,668 17,814 8.825 1.436 26.639 1,436 17,814 10,261 28,075 Carrying amounl At 30 June 2024 1,000,000 1,000,000 29.593 1,029.593 At 30 June 2023 31,029 1,031,029 13. Debtors 2024 2023 Prepayments and accrued income 4.781 4,981 14. Creditors: arnounls falling due wlthin one year 2024 2023 Accruals and deferred income Social security and other taxes 1.450 1.306 1,350 103 2,756 1 ,453 17
Crescent Church Belfast Notes to the Financial Statements (contlnued) Year ended 30 June £024 15. Analysis of charitable funds Unrestricted funds At Income Expenditure 30 June 2024 At 1 July 2023 General funds 802,748 311,170 {164,129) 949,789 At Income Expenditure 30 June 2023 At 1 July 2022 General funds 642,551 299,633 {139,436) 802,748 Restricted funds At Income Expenditure 30 June 2024 At 1 July 2023 Building Fund Earmarked Funds 672,125 22,685 72,364 95,049 (62,521) (72.364) {134,885) 632,289 672.125 632.289 At Income Expenditure 30 June 2023 At 1 July 2022 Building Fund Earmarked Funds 687.840 19,460 86,466 (35.175) (86,466) 1121.641) 672,125 687,840 105,926 672,125 18
Crescent Church Belfast Notes to the Financial Statements (continued) Year ended 30 June 2024 16. Analysis of net assets between funds Unrestricted Total Funds Funds 2024 Tangible fixed assels Current assets Creditors less than 1 year Net assets 1,029,593 555,241 (2,756) 1,582,078 1,029,593 555,241 {2.756} 1,582,078 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 {1,453) 1,474,873 17. Financlal 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 Ihrough prof it or loss, this must also be disclosed. 19