Bloomfield tF¥W,f . PRESBYTERIAN CHURCH TO KNOW JESUS AND SHARE HIS LOVE Statement of Finantial Activities liThcluding Income and Expenditure Accountl for the year ended 31st December 2022 Unrestrirted Funds Restrirted funds Totsls 2022 Totals 2021 Notes frofft donations ond legacies Donations Grants received Leg3cie5 197,135 36 11,50D 168,933 366.068 36 11,500 418,852 17,050 4,057 from Charitable urtivities Special collections 13,534 14,100 27,634 3,494 from other Gfctivities Gift Aid tax refunded Other income 43,429 20,476 35,651 5,480 79,080 25.956 81,772 11,626 from investments Investment income 61 61 Total income 286,171 224,164 510.335 536,851 EXPENDITURE on misingfunds Promotional cost5 on charituble activities Employee costs PrÈmises costs Travel and training costs General administr2tlDn costs Programme costs 135.041 34,287 11,997 5,525 91,967 135,041 51,152 12,085 5,525 216.522 117.434 83,497 3.767 3,618 145,127 16,865 88 124,555 on otheritems Legal and professional fees Other expènses 2,875 1,377 227 9,976 3,102 11.353 8,631 13,942 Totsl resources expended 283,D69 151,711 434,780 376,016 Net rncoming I loutgoingl resources Depreciation Asset recognition Transfers between fund5 3,102 72.453 75.555 160,835 io [7001 2,402 2,072,471 700 Net movement in funds 73,153 1267,6731 1194,5201 75,555 160,835 Fund balances brought fwd at Istjanuary Fund balances carried fvjd at 3tst December 1.804.798 1,643,963 2.074,873 1.880,353 1,804.798 The statement of financial activities indudes all gains and 10s5es in the year. The notes on page$ 12 to 18 form part of these fiAan¢ial statements. )iwl from operating activities Returns on investment and servicing of finance Capital Èxpenditure (Decrease / increase in cash and cash equivalents for the year 189,9101 61 133,918 IS9.U91 133,918 Reconcilration of net cash flow to movement in net funds IDecreasel/ increase in cash for the year Net funds at 1st january 2022 Net funds at 31st December 2022 189.8491 263,291 173.542 133,918 129,473 263,391 The notes on pages 12 to 18 form part of these financial staternÈnts. DLqmond &Skllie l)idmoiid ChJrtcred Accountsnfsand Re##£redAthr Page 11 of18 --%killen SInCb￿r￿OU￿e, 691101 koyalAvenue ¢ifastBTI IFE Bloomfield . PRESBYTERIAN CHURCH :.i>>".>¥:w',' TO KNOW JESUS AND SHARE HIS LOVE Notes forming part Df thè Financial StatÈments for the yèar et)ded 31st December 2022 Accounting )olicies The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are a5 follows.. St&tÈment of compliance The financial 5tstement5 are prepared in accordance with Accounting and Reporting by Charitie5.' Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective from 1st January 20151- (Charities SORP IFRS10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companie5 Act 2006 (insofar as this applies to the Charitvl. Bloomfield Presbyterian Church meets the definition of a public benefit entity under FRS 102. Assets and liabilities a initially recognised at historical c05t or transaction value unless otherwise stated in the relevant accounting pollcy notelsl. Reconciliation Mtith prewously Generally AC￿pted Accounting Pracbce In preparing the accounts, the Trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP IFRS 1021 the restatement of comparative items wa5 required. No rettatements were ￿QUired. Preparation ol the accounts on a gotng concem basis The Trustee5 are of the view that as the reserves of the charity are within the ￿qUirement of the charity's reserves policy, the immediate futu￿ of the charity for the next 12 to 18 months 15 secure and on that basi5 the charity is a going concern. Revenue Items of revenue are recognised and included in the accounts when all of the following criteria are met.. the ch8rity ha5 entitlement to the funds,. any performance conditions attached to the itemlsl of ￿VenUe have been met or are fully within the control of the charity,. it 15 probable that the revenue will be received- und the amount can be measured reliablv Revenue received in advance of the provision of a specified service is deferred until the criteria for revenue recognition are met. Grqnts receivoble Grants receivable which ￿late to the year are credited to revenue within the Statement of Financial Activit¥es, with unspent balances being carried forward to 5ub5equent years within the relevant fund. Specific debts are recognised where approved grant eKpenditure exceeds grant revenue received to date. Grant revenue relating to future periods is carried forward under payab5es. Interest receivable Interest on funds held on deposit is includeol when receivable and the amount can be measurèd reliably by the charity- this is normally upon notification of the interest Paid or payable by the Bank. Fund accounting General funds are ￿n￿stricted funds which are available for use at the discretion of the Trustees in ftirtherance of the general objectives of the charity and which h3ve not been designatèd for other purposes. Thè fund comprises the accumulated surpluse5 and deficits of unrestricted intorne and expenditure. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of administering such funds are charges against the specific fund. Thè aim and use of each restricted fund is set out in the notes to the financial statements. Investment income and gains are allocated to the appropriate fund. DlJmond&SklUe l)idmon(I Charteredlcoununtsand Rtw#eredAud*or ',%kilLen SlndalrH(w*.891101 R0yalAvets￿E D¢lf/srBTI LFE Page 12 of18 Bloomfield PRESBYTERIAN CHURCH TO KNOW JESUS AND SHARE HIS LOVE lotes forming pbrt of the Financitsl Stotements for the year ended 31st Jecember 2022 Icont'dl ExpenditurÈ Expenditure is recognised once there is legal or constructive obligation to make a payment to a third party, it 15 probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure 15 classified under the follDwing activity headings.. Expenditure on raising funds comprise5 the Costs of marketing and promoting the charity and its activities; Expenditure on charitable activities includes the dirett costs allocated to the performance of activities undertaken to further the purposes of the charity and their associated support costs,. Expenditure on other items ￿preSentS those items not hlling into any other heading. Non Current Assets (Fixed Assets) Fixed Assets are stated at cost less accumulated depreciation. The costs of minor additions or those c05ting below £1,000 are not C3Pitalised. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, which in all cases is estimated at 4 years Re￿ivable5 Trade and other receivables are recogni5ed at the Settlement 3mount due after any trade discount Offe￿d. Prepayments are valued at the amount prepaid after taking a¢count of any trade discounts due. i.io Cash and cash equivalents Cash and cash equivalents includes bank deposits, cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit Dr similar account. i.ii Payables and provisions Payables and provisions are recognised wherè the charity ha5 a present obligation resulting from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated ￿lIablY. Payables and provision5 are normally recognised at their settlement amount after 311owing for any trade discounts due. 1.12 Transition to FRS 102 The transition date was 1st January 2016. There was no requirement to restate any comparative balances in making the tran51tion to FR5 102. Legal status of the char5ty BIDomfield Presbyterian Church is a Congregation of the Presbyterian Church in Ireland. It is a charity registered in Northern Ireland no. NIC104554. Iliamond D1anwJMl&Skll￿ Chdrtered Accountantsand Reo#er*JAudltoY -'%killcrL Slnd¥lrHO￿$e. B9ILOI R￿lAve￿￿E Belfast￿1 IFE Pase 13 of18 Bloomfield , PRESBYTERIAN CHURCH >. '.TO KNOW JESUS AND SHARE HIS LOVE NotEs forming parL of the Finarhcr215tatements lor the year ended 31st De￿mber 2022 l¢ont'd) INCODAE Unrestricted Fund5 Restricted funds Yotals 2022 Totals 2021 Arom d9nution5 undlegocies.- Recorded giving Loose collettions Grants Legacies Building Fund donations Building Fund grant5 Building Fund legacies 191,972 5,162 36 11,500 163.921 4.962 355,893 10.124 36 11.500 50 387,160 3,725 5,250 2,057 27,966 11,800 2,000 50 from charitable ortivities.. Special collections 13,534 14.100 27,634 3,494 Arom other attivities.- Gift Aid tax refunded Donations from congregational organisations Income from Churth events Church Weekends Sale/rentals of books, DVDS etc.. Publications Insurancè claims Flower fund Wedding5, funerals etc.. Proceeds frorn sale of fixed assets Rental income Other income 43,429 35,651 79,080 81,772 loo 1.206 5,249 514 1.249 1,206 S.249 514 1.249 1,016 189 570 570 150 640 4,943 537 4,943 11226 3,820 5.712 11,689 from investments.. UK bank interest received 61 61 286,171 224,164 510,335 536.851 l)iamoIid Dlamffjd &Skillen ChJrt¢rcdAccountantsand Re￿eredAthlfttsy "" Skillcn SlncL)IrHlote5 forming part of the Financial Statements for the year ended 31st December 2022 Iconvdl StaTr costs and numbers UnrÈstricted Funds Restricted funds Yotals 2022 Totals 2021 Wages and salaries Employers National Insurance Pulpit supply Pension contributions Employee expenses 103,886 6,574 1.050 13,131 10,401 135.042 loo 103,980 6,574 i.oso .131 10.401 135.142 92,476 5.52Q 12,404 7,034 117,434 loo NoefftploYeeftctfv¢dÉmofuments4fmg￿thgNE5o,O TheJvem9enumbcrof ￿5￿￿5,1￿&￿￿In￿POrf41￿e*1OJy.ertlp10y1rfOnUKCofitmcI5￿￿5GlZo21..6) Net incoming rèsources for the year Unrestricted Funds Restricted fund5 Totals 2022 Totals 2021 Net incoming resources ore stutsdofter chtsrging.. Auditorfs remuneration 2,840 2.840 2,840 Trustee remuneration and Related Party Transattions The total amount donated to the Charity without conditions from trustee5 and officer (primary related parties) and secondary related parties was £119,548. No trustee received any remuneration as a result of their Trusteeship of the Charttv. Four Trustees were employed by the Charity and received rètmbursernent of out-of-pocket expenses during the year 12021= 41. The details are as follow5- Rev Frank Sellar- Employed 85 Minister of the Congregation- Salary £43.546- Expenses £7,170 Michael Stoneman- Employed as Youth Worker- Salary £28,119- Expenses £360 Brian McNarry- Ernployed as Musical Director Ipart-timel- Salary £7,933- Expenses £500 Elizabeth Lewis- Employed as part-time Pastoral Assistsnt Ito 3(hh June 20221- Salary £2,964- Expenses £SOO No other trustee or other person connected to the charity had any personal interest in any contratt or transaction entered into by the charity during the year12021- Nill. Taxation As a charity. the Church is exernpt from tax on income and gains falling within section 505 of the Taxes Act 1988 or 2256 of the Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity. Transfers between the funds Unrestricted Funds Restricted funds Totals 2022 Totals 2021 Transfer from General Fund to Parallel Projert Fund Allcctrfit￿0frUllds tosupp{tmthtthtBtt￿￿￿ 19,0001 9,000 Transfer from Missionary Fund to General Fund Contrbutsonof EI00￿r￿eMb￿￿O[Ehet￿g￿0tu)n Republ￿1n3￿{Y20l2 0spartafc5ummerDutreuthrÉum 1,300 11,3001 Transfer from M&R Fund to General Fund Trunrferun5pentM&RJllccctiunfrom202L foEheGtlltrnffFund 7,000 17,0001 17001 700 otxmund ksktlle I lidmoiid Chartcrcd Accountantsand RetseredAudiror '8killen Slmcknlr House.89IIOL RoyalAvÈnUe elfastPTI LSE Page J6of 18 Bloomfield P.RESBYTERIAN CHURCH .TO KNOW JE.SUS AMD SHARÉ HIS LOVE, Note5 forming Pèrt of the Financial Statements for the year ended 31st December 2022 Icongdl io T3nEible Fixed Assets Land Furniture. fixturès & fitting5 buildings Totals Cost At 1st January 2022 Asset recognition Additions 1,995,955 1,995,95S At 31st December 2022 1.995.955 1,995.955 Depreciation At 1st January 2022 Charge for year At 31st December 2022 Net Book Value At 31st December 2022 1,99S,9S5 1.995,955 At 31st December 2021 1,995,955 1,995,955 li Receiv2blÈs Totals 2022 Totals 2021 Prepayments and accrued income 12 Payables Totals 2022 Totals 2021 Accruals Amounts falling due within one year lshort term loan51 Amounts falling due after more than one year (Building Loan) 2.840 .000 271.304 289.144 2,840 15,000 436,708 454,548 13 Analysis of charity net assets between funds Unrestricted funds Restricted funds Totals 2022 NDn Current Assets Current ￿sets- receivable5 Current Assets- cash and cash equivalents Payables 1,995,955 1,995,955 81,760 12,8401 2,074,87S 91,782 1286.3041 1194.5221 173.542 1289,1441 1,880,353 14 Financial Commitsments At 3tst December 2D22 the charity has no annual commitments under non-cancellable leases nor any other financial commitrnents that are not recognised ITI the accounts12021.' £nill. Bloomfield Presbyterian Church has entered into number of long term contracts for the supply of services all of which are ￿ncelIable. l)i¢imuiicl Dlamohd&SJdllo ChartpredAccounEintsandAe8t#eredAudknr 'SkillLbn SIRE￿IrHouS¥Byllol RoyalAvenu¢ Bel(￿1 wri IFE Page 17of18 Bloomfield , PRESBYTERIAN CHURCH.,} TO KNOW JESUS AND SHARE HIS LOVE Notes forming part OT thè Fananci&l Statements for the year endea 31 st December 2022 Iconvdl 16 St8teiment of Funds At lJan22 Incoming resources Outgoing resources Asset Recognition At 31 Oec 22 Transfers General reserve Asset holding fund Total ￿n￿striGted funds 76,516 1,995.9S5 2,072,471 286,171 1283,0671 171101 78,920 1,995,955 286.171 1283.0671 17001 2,074,875 8enevolent Fund uilding Fund Hungary Fund M&R Fund Malawi Fund Misslon3ry Fund Moderators Appe31 Fund.. Ukraine Appeal World Development Appeal Moldov3 Fund Parallel Projett Fund TearFund Fund 1,224 1317,6691 250 90,186 1,200 16,450 360 72,581 IA74 1235,3321 116.8491 11,2001 19.9151 13601 166,4301 9,000 754 17,0001 289 9,285 11,3001 14,136 11,4S8 7,034 18,604 111.4581 17,0341 115,6761 115,7501 16.0411 1151,7131 1.976 36,757 3.904 21.007 6,041 224,164 Total restri£tÈd fund5 1267.6731 700 1194,5221 Total fitnds 1,804.798 510,335 1434,7801 The general reserve represents thefreefunds of the chority which (yre not designcttedforpiyrticulur purposes. I￿80,353 17 Reconciliation o* changes in resources to net cash rnfiow from operating activities 2022 2021 Net incoming / loutgoingl resources before investment income Ilncreasel / decrease in receivables Ioecreasel / increase in payables Net cash inflow / loufflowl from operating activities 75.494 160,835 1165,4041 {89.9101 126,9171 133,918 18 Returns on invèstment and servicing of finance 2022 2021 Interest frorn UK Sources 61 19 Going concern The Trustees consider that the charity has sufficient funding in place to continue its operations in the near future and thus deem the use of the going concern basis to be appropriate. 20 Disclosure of rÈlevant circumstances In common with many othèr charities of our Size and nature we use our auditors to.. prepare and submit applicable return5 to the tax authorities. ond a5SlSt with the preparation of the financial statements. and provide consultancy services when requested. 21 Deficit on BLsilding fund Irestrictedl The charity is carrying a net deficit of £235,33212021.. deficit of £317,669) on the restricted Building fund. The Kirk Session consider that the ongoing donations receivable to this fund give them a ￿all$tI¢ expectation that future income will be received to cover the shortfall which is at 31st December 2022 financed by a loan of £271,304. Dl*mohd&Skllt l)ianioii(I CharteredAcc0uDtsDrs?ThlRety#eredA￿dIr0r -~%killcn SSnthlrFlouK 691LDI RoyalAven elfwBTL IFE Page 18 of18