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) li￿e 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 fO￿ard
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 Filian￿la1 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