, Bloomfield PRESBYTERIAN CHURCH TO KNOW JESUS AND SHARE HIS LOVE Statement of Finanaal Activities linduding Income and Expenditure Account) for the year ended 31st Decernber 2023 Unrestricted Funds Restricted funds Totals 2023 Tots15 2022 Notes INCOME from donation5 0ndlegacie5 Donations Grants received Legacies 217,424 693 151.695 369.119 693 366.068 36 ii.soo from charitoble ortivitie5 Special collections 4.774 14,682 19,456 27,634 from other octivities Gift Aid tax refunded Othèr income 51.146 37,826 31.756 17.146 82.902 54.972 79,080 25.956 from inVeStnnts Investment income 61 Total income 316.863 215.279 532.142 510.33S EXPENDITURE roisingfvnds Promotional costs 1.150 1.150 on charitable artiwl Employee costs Premises cost5 Travel and training costs General administration costs Programme costs 147,454 43,374 6,989 6,980 71.369 148.054 71.063 7.107 6.980 202.978 135,041 51,152 12,085 S,S25 216,522 27,689 118 131,609 on other items Legal and professional fees Other expenses Total resources expended 2.875 1.641 281,832 2.875 io.c 3.102 11.353 8,359 168.375 450,207 434.780 Net in¢omlng I lout8oingl resour Depreciation Transfers between fvnds 35,031 12.7001 130,3761 46,904 81.935 12.7001 75.555 30,376 Net movement in funds 1.955 77,280 1194,5201 1117.2401 79.235 75,555 Fund balances brought hvd at lstjanuary Fund balances carried fwd at 31st December 2,074.873 1.880,353 1,804,798 2,076.828 1.959.588 1,880.353 The statement of financial activities includes all gains and losses in the year. The notes on pa8es 12 to 18 form part of these financial statements. Diamond Chartered kcountsntsand Reo#eredAuditor Skillen SInC1r HO 891101 Roy4lAveiiUÈ BelfAstBTI IFE Page 9 of 18
(* , Bloomfield PRESBYTERIAN CHURCH TO KNOW JESUS AND SHAAE HIS LOVE Statement of Finanaal Position (Balance Sheet) as at 31st December 2023 2023 2022 Notes NON CURRENf ASSETS Tangible assets io 2.(M)4.055 1.995.955 2.004.055 1.995.955 CURREIU ASSETS Receivables Cash and cash equivalents li 137.902 137.902 117,8401 120.062 173,542 173.542 117,8401 155,702 PAYA8LES.' amounts falling due vrrithin one year NET CURRENT ASSETS 12 PAYABLES-. amounts falling after more than one year 12 1164.5291 1271,3041 TOTAL ASSETS LESS CURRENf UA6iunES 1.959.588 1,880,353 THE FUNDS OF THE CHARITY Unrestrirted incomefvnds.. General funds Asset holding fund Idesignatedl 15 Is 72.773 2.LW.055 78,920 1.995.955 1076.828 2.074,875 Restrirted incomefvnds.. Benevolent Fund Building Fund Czech Fund Hungary Fund Missionary Fund Malawi Fund Moderators Appeals Fund Moldova Fund Parallel Project Fund Property Fund TearFund Fund 15 15 15 15 15 15 15 15 15 Is 15 1.724 1164,7041 191 1.474 1235,3321 21,316 14,136 2.394 21.839 3,904 21.007 289 TOTAL FUNDS 1.959.588 1,880,353 The notes on pages 12 to 18 fomi part of these financial statements. The financial statements on pages 3 to 18 We approved by the Trustee5 on 19th March 2024 and si8ned on their behalf by.. Rev Frank Sellar Minister Rebetta Foster Treasurer Dlathond &SWME Diamond ChaMÈred AvUllnI5and Rets¢rtdAudlt4r Skillen SiTr¢&ir House. 891101 NOA¥tt Pelfast8TI IFE Page 10 of 18
. Bloomfield PRESBYTERIAN CHURCH TO KNOW JESUS AND SHARE HIS IOVE Statement of Cash flows for the year ended 31st Marth 2023 2023 2022 Notes 16 17 io Net cash inflow I loutftowl from operating a¢tFVtties Returns on investment Capital expenditure (Decrease l inease in cash and cash equivalents for the year 124.840) 189,9101 61 110,8(M)I 135.6401 189,8491 Reconciliation of net cash flow to movement in net funds IDecreasel/ increase in cash for the year Net fund5 at 1st January 2023 Net fvnd5 at 31st December 2023 {35,6401 173.542 189,849 263,391 173.542 137.902 The notes on pages 12 to 18 fomi part of these financial statements. Diamond ChirttredArrntsThts1d ReooÈrtdAudittir Skillen sinclAirHau*Bg1IOI BoyAvErtIJ BElfast wri IFE Page 11 of18
' Bloomfield PRESBYTERIAN CHURCH TO KNOW JESUS AND SHARE HIS LOVE Notes forrning part of the Final Statements for the year ended 3tst December 2023 Accounting Polioes The principal accounting policies adopted, judgements and key sources of estimation Lsncertainty in the preparation of the financial statements are as follows- Statement of compliance The financial statements are prepared in accordance with Accounting and Reporting by Charities.. Ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffectsve from 1st January 20151- (Charities SORP IFR510211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006 lin50far as this applies to the Charityl. Bloomfield PresbytefiJn Church meets the definition Df a public benefit entity under FRS 102. A55ets and liabilit4e5 are initially recognised at historical cost or transaction value unle55 Otherwise stated in the relevant accounting policy notelsl. Reconuliation with pre¥ii>usly Generally Accepted Accounting Pr•¢tice In preparing the accounts, the Trustees have considered whether in applying the accounting policies required by FRS 102 and the Charitie5 SORP IFRS 1021 the restatement of comparative item5 was quIred. No restatements were required. PreparatiM of the accounts ryi a going concern basis The Trustees are of the view that as the reserves of thè chartty are within the requirement of the chariV5 reserves policy, the immediate future of the charity for the next 12 to 18 month5 15 secure and on that ba515 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 charity has entitlement to thè funds- any performance Conditions attached to the itemlsl of revenuè have been met or arè ful within the control of the charity,. it is probable that the revenue will be received. ond the amount can be measLtfed reliably Revenue received in advance of the provision of a specified service is deferred until the criteria for revenue recognition are met. Grants receivoble Grants receivable which relate to the year are credited to revenue wtthin the Statement of Financial Activities, with unspent balances being carried forward to subsequent years within the relevant fund. Specific debts are recognised Whe approved grant expenditure exceeds grant revenue received to date. Grant revenue relating to future periods is carried forward under payables. Intertst Ye1¥able Interest on funds held on deposit Is included when receivable and the amount can be measured reliably by the charity,. this is normally upon notification of the interest paid or payable by the Bank. Fund accountin8 General funds are unrestricted lunds whith are available for use at the discretion of the Trustees in furtherance of the general objective5 of the charity and which have not been designated for other purposes. The fund comprises the accumulated surpluses and deficits of unrestricted income and expenditure. Restrictèd funds are funds which arè to be used in accordance with specific restrictions imposed by donor5 or which have been raised by the charity for particular purposes. The costs of administering such fund5 are charge5 against the specific fund. The aim and use of each restricted fund is set out in the notes to the financÉal statements. Investment income and gains are allocated to the appropriate hjnd. Diamond Ch4rtettdkncountantsandkop*End Auditor Skillen 51nclrHo. 89/IQL RoWAvenuE B¢lfastFfi IFE Page 12 of 18
(" Bloomfield PRESBYTERIAN CHURCH TO KNOW JESUS AND SHARE HIS LOVE Notes forming part of the Finanaal Stalements for the ye4V ended 31st December 2023 Iconydl Expenditure Expènditure is recognised once there is legal or constructive obligatton to make a payment to a third party, it Is probable that settlement will be required and the amount of the obligation can be MeasUd reliably. EXpendIttJ is classified under the following activity headin8S= Expenditure on raising funds COrnPTises the costs Df marketing and promoting the charity and its activities,. Expenditure on charitable activities ircludes the direct Costs allocated to the performance of activities undertaken to further the purp05e5 of the charity and thetr associated support cost5.' Expenditure on other Ttems represents those item5 not falling into any other heading. Nt)n Current Assets (Fixed A55etsl Fixed Assets are stated at cost less accumulated depreciation. The costs of minor additions or th05e c05ting below £5,000 are not capitalised. Depreciation is provided at rate5 caltulated to write off the c05t less residual value of each asset over its expected vsefvl Isfe. which in all cases is estimated at 4 yea. Receivables Trade and other receivables are recognised at the settlement amount dye after any trade discount offered. Prepayments a valued at the amount prepaid aftertaking account of any trade discounts due. i.io Cash and cash equivalents Cash and cash equivalents includes bank deposits, cash and Short temi highly liqijid investments with a short maturity of three months or le55 from the date of acqui51tion or opening of the deposit or similar account. i.ii Payables and pro¥isiMs Payable5 and provisions are recognised where the charity has a present oblisation resultin8 from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obliÉation can be measured or estimated reliably. Payables and provisions are nornially rec¢)4nised at their settlement amount after allowing for any trade discounts due. 1.12 Transition to FRS 102 The tran51tion date wa$ 1stJanuary 2016. There was no requirement to restate any comparative balances in making the tran51tion to FRS 102. Legal status of the charity Bloomfield Presbyterian Church 15 a Congregation of the PreSby4fi Church in Ireland. It is a tharity registered in Northern Ireland no. NIC104554. Diamond (rt*redAC¢oUn1jThts9Tr] R¢o¥ÈrtdAudknr Skillen S&ncLiirH5% 89IIUI Roya]A¥enut BvlFastFri IFE Page 13 of 18
Bloomfield PRESBYTERIAN CHURCH TO KNOW JESUS AND SHARE HIS LOVE Notes formin8 part of the Finanual Statements for the year ended 31st December 2023 Iconf dl INCOME Unrestricted Funds Restricted funds Totals 2023 Tota15 2022 from donotions ondlegacie5.' Recorded giving Loose collections Grants Legacies Building Fund donations Building Fund grants Le8aue5 209,030 8.394 693 145,305 6,390 354,335 14,784 693 355,893 10,124 36 11,500 50 5LKI from thoritoble ortivities.. Special collections 4.774 14.182 18.956 27.634 from otheractivities." Gift Aid tax refunded Income from Church events Church Weekends Salelrentals of book5, DVDS etc.. Publications InsLbrance claims Flower fund Rental income Other income 51,146 31.756 82.902 79.080 1.206 5,249 514 1.249 5,265 593 1.160 5,265 593 1.160 2.480 760 760 8.748 35.966 570 4,943 12.226 8.748 5.918 from investments.. UK bank interest received 61 316.863 215.279 532.142 510.335 Dlawalld&MleD Diamond charteredA(UrtL7ThtsIThd Re09dAd Skillen Sinclair Hou5e.891101 RoyalA¥enue Belfast1 LFE Page 14 of18
, Bloomfield PRESBYTERIAN CHURCH TO KNOW JESUS AND SHARE HIS LOVE Notes f¢rmin8 part ol the Financial Statements for the year ended 31st De¢ernber 2023 {conVd) EXPENDITURE Unrestricted Funds Restrirted funds Totals 2023 Totals 2022 on misingfunds." Promotional expenses 1,150 1.150 on choritable activities." Employee c05ts.' Wages and salaries Minister, A551Stant & Associate expenses Employer pension contributions Premises andinsurance cort5.' Rates and Water Rates Insurance Heat and light Repairs and Property projerts New annex and refufbishment Cleaning materials Tmel and tralning c05ts." Training Minibus expense (see belowl General odminisrrotion C05ts.' Printing, postsge and stationery Telephone. computer and tnternet Programme costs.. Charitable distributions Outreach work Ministerial Duties Alowances PCI Assessments & Presbytery fees Worship resoufCÈS Action team disbursements Church events and sundry costs Church magazines and literature 124,526 9.552 13.376 125,126 9.552 13.376 111,510 10,401 13,131 3.037 8.088 29,967 162 3.037 8.088 29.967 27.851 2,870 7.366 18,909 13,041 6,645 2,321 27.689 2.120 2,120 5.120 1.869 5,120 1.987 4,874 7,211 118 3,933 3.047 3,933 3,047 1,858 3,667 5.405 12.383 2.434 20.603 31x1 1.21x1 25,885 3.159 114.206 119.611 12.383 2.434 20.603 3fy) 131,535 27,731 20.191 1.791 14,480 2,923 28.808 3.159 30.771 4.502 on other items.. Legal andproft5sionalfee&' Audit fees Other governance costs Other expenses.. Bank Charges Bank loan interest Sundry expenses 2,840 262 35 35 1.641 1.641 8,359 1.377 9,976 8.359 281.832 168,375 450,207 434,780 The minibus wus lurgety tsnu5ed durin9 the covidpundemK/knkdown period ond requiredmsjor work5 to moke it roodworthy. The cost of fISe work5 wos£5.432 and this omounti5 indudedin the mffiibusexpensesfvr2022 01£7,211 notedobove. Diamond Chartrred kcouthtantsand RetserodAudit4>r '+Skillen SInC1r House. 591101 RD)7lAvuLIE Eelf4stPTL IFE Page 15 of18
' Bloomfield PRESBYTERIAN CHURCH TO KNOW JESUS AND SHARE HIS LOVE Notès fotm*ng part ol the Financial Statements for the year ended aist December 2023 {conVd) Staff costs and nurnbers Unrestricted Funds Restricted funds Totals 2023 Totals 2022 Wages and salarie5 Employers National Insurance Pulpit supplv Pension contributions Employee expenses 115.377 8.312 837 13.376 9.5S2 147.454 115,377 8,312 IA37 13,376 9,552 148.054 103,986 6.574 1,050 13.131 10.401 135,142 600 600 Net intomin8 res{rceS for the year Unrestricted Funds Restrirted fund5 Totals 2023 Totals 2022 Netffncoming resources ore stated after chorging.- Auditorfs rernuneration 2,840 Trusteè remuneration and Related Party Tr•sacti{S The total amount donated to the Charity Wlthout conditions from trustees and officer Iprirnary related parties) and secondary related parties wa5 £116.46312022.. £119.5481. No trustee received any remuneratiorb as a result of their Trusteeship of the Charity. Three Trustees were employed by the Charity and received reimbursement of cwt-of-pocket expenses during the year 12022.. 41. The details are as follows.. Rev Frank Sellar- Employed as Minister of the Congregation- Salary £45,723- Expenses £565 Michael Stoneman- Employed as Youth Worker- Salary £29,525- Expensès £360 Brian McNarry- Employed as Musical Director Ipart-timel- Salary £8,330- Expen5e5 £500 No other trustee or other person connerted to the charity had any personal interest in any contract or tran5artion entered into by the charity during the year12022- Nill. Taxation As a charity, the Church is exempt from tax on income and gains falling within sertion 505 of the Taxes Art 1988 or 2256 of the Ch3rgeable fjains Act 1992 to the extent that these are applied to its charitable objects. No tax charges havÈ arisen in the Charity. Traner5 between the funds Unrestritted Funds Restricted funds Totsls 2023 Totals 2022 Transfer from General Fund to Parallel Project Fund 20,000 AlbrutOIfvrtd1 tosuppltmentthÈPornltrtPmKttApnd I20,(Kl Transfer from General Fund to Property Fund 15,3761 5,376 Transfer from General Fund to Building Fund 15.OthJl Transfer from Mission Fund to Czech Fund 13.8801 3.880 130.3761 30,376 Diamond Page JO of 18 CharttredA((ountantsand PwlredAIknr Skillen sIaIr Hou5e.891101 %oyalAvenue BÈlfall BTI IFE
' Bloomfield PRESBYTERIAN CHURCH TO KNOW JESUS AND SHARE HIS LOVE Notes form¢n8 part ol the Finanaal Ststements for the year ended 31st Decernbu 2023 {conVd) io Tangible FId A55ets Land Furniture, fixtures & fittings buildings Totals C05t At 1st January 2023 Additions 1.995,955 1,995,955 10,800 l(K)6.755 10,800 10.81 At 315t December 2023 1.995.955 L)epre¢i•ti At 1st January 2023 Charge for year At 31st December 2023 2.700 2.700 2,700 2,7 Net Book Value At 31st December 2023 1,995,955 8.100 2m4,055 At 31st December 2022 1.995.955 1.995.955 li Recetvables Totals 2023 Totals 2022 Prèpayments and accrued income 12 Payables Totals 2023 Totsls 2022 Accruals Arnounts falling due within one year Ishort term loans) Amounts falling due after more than one year (Building Loans) 2,840 15.000 271.304 289.144 15,000 164.529 182.369 13 Analysis of tharity net asset5 between fvnds Unrestricted funds Restrirted funds Totals 2023 Non Current Assets Current Assets- recetvables Current As5ets- cash and cash equivalents Payable5 2.004.055 l(M)4.055 75.613 12.8401 2,076.828 62,289 1179.5291 1117,2401 137.902 (182.3691 1.959,588 14 Flnancial Commitments At 31st December 2023 the charrty has no annual commitments Under non-cancellablè leases nor any other financial commitments that are not recognised in the accounts 12022= £nill. Bloomfield Presbyterian Church has entered into a number of lon8 term contracts for the supply of seryices all of which are cancellable IMaTAoBd*SWlteO Diamond CharterEdALcountsntsaL%4 RtVXeTedAudfvor Page J7of 18 && Skillen 5ind31r Hou5e.891IOI ROAVE[l BtlkrtÉrri IFE
(*, Bloomfield PRESBYTERIAN CHURCH TO KNOW JESUS AND SHARE HIS LOVE Notes forrning part of the nanCial Statemeftts for the year ended 31st December 2023 Iconydl 15 Statement of Funds At lJan23 Incoming resources Outgoing resources Asset Recognstion At 31 Dec23 Transfers General reserve Asset holding fund Total unrestrlcted fund5 78.918 1,995,955 316.863 1281.8321 12,7001 1284.5321 110.8CK)I 10.8(K) 130.3761 72.773 Z,004.055 2m4,873 316J63 130.3761 2,076.828 Benevolent Fund Building Fund Qech Fund Hungary Fund Malawi Fund Mission Fund Moderators Appeal Fund-. World Development Appeal Moldova Fund Parallel Project Fund Property Fund TearFund Fund 1.474 1235.3321 250 75.679 10.791 1.21M) 360 78.788 1.724 1164.7041 191 iio.osii 114.4801 11.2CKII I3()} 167,7281 3.880 14.136 13.8801 2L316 I6.() 17.S941 119.1681 125.9971 115,7931 1168,3751 6.084 2.394 21.839 21.007 289 20,(KX) 5.376 20.332 15.793 Total restricted lunds 1194.5221 215.281 30.376 1117.Z401 Totsl funds IW&.351 532.144 1451.90 1.959.$88 The general reserve represents thefreefunds of the chority which ore not designotedforparticulurpurposes. 16 Reconoliation of than8es in resources to net cash inflow from operating artivities 2023 2022 Net incoming I loutgoingl resources before investment income Ilncrea5el I decrease in receivables IDecrea5el l increase in payables Net cash inflow l {outhowl from operating artivities 81.935 75,494 1106.7751 124.8401 1165,4041 189,9101 17 Ileturns on investment 2023 2022 Interest from UK Sources 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 8oin6 concern basi5 to be appropriate. 19 Disclosure of relevant arcumstances In common with many other charities of our size and nature we use our auditors to.. prepare and submit applicable retums to the tax authorities'ond assist with the preparation of the financial statements. ond provide consultancy service5 when requested. 20 Deficit on Building fund (restricted) Thè charity is carrying a net defECIt of £164,70412022.. deficit of £235.3321 on the restricted Building fund. The Kirk Session consider that the on8oing donations receivable to this fund give them a realistic expectation that future income will be received to cover the shortfall whith is at 31st December 2023 finand by loans of £115,000 and £64.529. Diamond DlatyOnd&Sl1Ekn Chartered hLcountsntsaThl ReystTEdAudll '+ Skillen Sljdalr Hou5e.891101 HoyaiAvEIIUv B¢llastKI LFE Page 18 of18