Village Church Belfast Stateiuent of Fiwdn¢iaL Activxtias for the Year Elld¢d 30 Julle 2024 Unclllding In¢ome and Expellditllre Acwullt and Statement of Total RÈcogDised Cains and Loss¢s) UnT¢8tri¢ted kntrkted 2024 Note Ineome and Endowments froAL' Donatiolls w]d leg&ci¢5 (khertsading activiti Total irywm¢ 207,464 530 IU68 226332 530 Exp¢nditure on: Charitabl¢ atyiviti( (211,69 4.735 TotaI exp¢nditur¢ (211,696 (216,431 Net (¢xpenditvr¢yinc4)me Trnnsfexs betwtrn fitndG {3,71r2) 14,133 193 193540 40} 189,838 (179,407) 10,431 N¢t movem¢Jrt in 10.431 OneitIon of fullds Totsl fidS bmtsght forwanl Totsl funds CWTR¢d forward 122.662 179,407 302.069 16 312500 Total 2023 tFnrestrieted 11¢5tTirt¢d fullds Incme and Endowments frtsm. Dojixtiony legacses Oth¢r traditig activiti¢s 258,634 885 121,211 379,845 885 Totsl in¢ome 259519 121211 Exp¢ndAtnr¢ on: Ch8ritdble actiVAties (258,047 40,589 298,63 Tot41 exwiditie {258,04 40.589 298ts36 Net 1,472 80.622 82,094 1,472 80.622 82,Iy)4 Reeollc1112tlon offund Totsl funds brought forward 121,190 98,785 219,975 179,407 301069 All of th¢ ¢h#rAty$ adAvities dffive from continuing op#&ions during th¢ Above two pe*iods. The fimds breokaomryj for 2023 is shown in llote 16. The notss on pages I I to J8 fontt anintsgral part ofthese fillwial st&tellJents. Page 9
Village Church Belfast (Registration number N1631949) Bolanee Sheet as at 30 June 2024 2024 Fixed TangkJl¢ assets 12 219,794 17,941 Current Assets Debtors C&sh at bank and in hand 13 14 52338 42,821 95,159 287.9S7 287.957 3,829) Credltors: Amollnts fajlillg due 75ithtn •Me year 15 2,453 Nei curnt as%¢ts 92,706 312,500 284,128 302.069 asseÉs Funds of the ¢harity: Restrictd intom¢ funds 179.407 UnrestrAded itt¢ome fund5 Utirestri¢ted fim& 312 00 122,662 302,069 Total tullds 312 For the fmanEial ye¥r ending 30 June 2024 the charity was entitled to emptIOn from audit wider 477 of the Companies Aot 2006 relatiug to small companies. DireGtois' rew)wibilities: The m¢mbers kav¢ not required the obarity to obtain au auait of its aeoounts for the year ill qu¢stion in amdauce with section 476" and Th¢ directots arknowledF kn T¢spollsJTrilili¢s for complyiug vlith tbe Tequrnents of the Act with t¢sp¢ct to a¢countillg r¢cords andthe PT¢paration of &c£oullts. These fman¢ial statements have b¢en prepad in a¢¢ordallce with the special provislons rnlating to compw)i¢y sthjeot to the stnall companie8 reginje within Part 15 ofthe Companies Act 2006. Th¢ finw¢ial straterrtents on page4 9 to 18 w¢r¢ 8pprnved by the trvstees, and authl$t4 for Issue on 21 Mar¢k 2025 and sigo¢d on th¢ir behalf by: Trustee Thr note5 on pag¢5 11 to 18 forn atr Inte?1 part ofkn¢ frial 5t*m¢nts. Pag¢ i
Ye Church Belfast N¢Jtes to the Financial Statemellts for the Year Ended 30 Julle 2024 I Charity 8t4tus The chlty 13 limited by gu&raut¢¢, incorpothd in Northern Ir£18n4 aud cons¢qu¢nliy docs rLOt hay¢ shre ital. Eath of th¢ busteu i8]iable to contributs all kmoullt not ¢xce¢(bng £1 tDwdrds the a85¢ts of the ¢har£ty in the ovent of liqllidatio The address of its regist¢r¢d office is: 25 Uppey Newtownards Ro B¢ifkst BT4 31 TlJes¢ fjn4lloial statem¢nts w¢r¢ aytthojised for issue by the lrnst¢es on 21 Mar¢h 2025. or ' nifieAnt acwwiting poliaes and key athiunting esthnat The principal ac<ounkng poll¢1 applied ill the prepar8ti(m of these thwicial st¢m¢nts set out below. Th¢s¢ policie5 hav¢ been cotisistently wlxed b) all the years presented, uJl&88 otheTWi5e slthd. StNtem¢nS of wmplian¢e The fmanciaE 8tat¢ments have be¢n Ppred in accordi¢¢ wlth A¢cowiting and Reporting by Charitses: ststement of RecoMettded PL7Ctic¢ (applicable to rhities preparillg their In accordan¢¢ with the Fillanel&l Reporting Standard applicable in UK and R¢public of ILEland (FRS 102)) (tssued ltt Octob¢r2019) - (ChaTitie SORP (FRS 102)). the Finallciai Kwtllig Standard applxcable in the UK wkd R¢publi¢ of Ireland IFRS 102) atsd the Compatiie$ Act 2006. Bagb of preparatio Village Clnrth B¢l&st meets th¢ d¢finilion of& public benefft entity under FRS 102. Ass¢ts and IlablEiltes sr¢ initi41ty reGogniscd at histwical o)st or trdnsa¢tlon value ulliess ot]wwise stated in relevallt policy Mot&q. The trnsts¢s con8id¢r that the ar¢ llo material vn¢¢rtaititie5 about tbe charitys ability to ¢ontin)J& a8 a going t1Xr norany signific8Ut kt¢as of unc<¥tsllty that affect the ¢witi8 valu¢ tsfassets knld by the Cknty. Iurome and ¢ndowDW All inwmo is rtt¢ogtiis¢d 0[e thR charity ertttlem¢nt to the income, it is probable I11 thE inme will be T¢oeived and the 8tnount ofthe ittton CeiVable c4n be reliabty. Don4tiow ¢mdl¢g7 Donattons are cOgniSed when the charity has beeth nofied in wxithg of both the amoijnt aad sdtlem¢nt dats. In th¢ evpArt th* 8 donation is svbj¢rt ¢0 conditions t7J41 T¢quire a l¢vel of p¢rf(Mxn by th¢ dwity before th¢ charity is entitl¢d to the fthwls. tlse is defeffed and not re¢o8Discd until eiiher Ihose conditi$ ar¢ fillty llt, fjr th¢ fulfjlment of tb05¢ L))nditions is wholly within the control o£th¢ charity aDd f( is wob4ble that th¢y¢ condktio]Js will be fulfill¢d itt the r¢Forting perfo Pageii
Village Chureh Bellast Notss to the FiJaacial SlatemenÉs for the Year Ended 30 June 2024 Exppudlture All ¢xpenditur¢ i& rnogllised onc4 there is a1¢8al or DStruth¢ obligatAOn kn that ejyllditure, it is probabl¢ settlement is requir and tbc atnoutst ( be measvr¢a T¢liably. All sts are allocut#d to thc appli¢abl¢ &xp¢ndktllr# knading that aggregats similar wsts to that ¢at¢gory. Wh¢re costs c&mt bc diT¢¢tly attributed to particular headings they haye been alloG&Ed on a basis cojjsisteut with th¢ vs¢ of r¢sourw with ¢entral staff osts a]locatyJ on tbe basis of time spent and d¢plation charges allocated on the porti¢)n of tbe asset's ys¢. Other support Qosts are allOtl based (Mthe spread of staff ¢ost5. Ck4rilable txliwli Charitable aKp¢néiture those rJ)sts ill¢u¢d by 1he ¢harity in th¢ ddiv¢ry of its a¢tivxtie8 oud $¢Tvi for its b¢JJefi¢i45i#& It ill¢ludes both c4)sÉ5 thaf be allo¢at¢d directly to such activii&s those costs of an indirect llalure necessary kn suprtth¢M. Goverllance eosts These includ& the L¥>sts attrll)utabk to th¢ (awity'8 w11at with constit¢rtioJMI and statutory requir includitig audiL $lx8te8i¢ mW3ve 8nd meetings and reimbwsed ¥ses. Txxatio The clwity is ¢onsidered to p&ss tbe tssts set out in Parawh I SCIaUle 6 of lkn FinaD¢¢ Act 2010 and thtttforn it nwts the definition of 8 charitable ¢ompAny for UK co4x)ration t&Y purposes. A¢oordiugly, th¢ charity is potentially w from taxatioti iti respect of iJKom¢ or ¢apital gatns received wlthiu Gategories ry)Y¢r¢d by Chapter 3 Part 11 of the COoratI1)ll Tax Act 2010 or S¢ction 256 of the TaxatioL of Charg¢able Gains Act 1992, to th¢ ¢Xttt that such iDoom¢ or gains art applied exclusively to obaritable purposes. Tangtble fixpAI a5s¢ts Individual fia &8s¢ts oostillg £1.00 ormor¢ aye ittitiatfy record6d at eosL D¢preeiation ond amortisatioa Depr¢¢ithon is provid on tallTrIC fixed 183ets so as to wrik off th¢ ¢ost or valuation, l¢ss any est>matsd T¢siduaI vaIu4 over their ewtsd us01 ¢¢onomic lifr as follows: Assèt t1288 Flxtures & Fittings DepYeel#thitt Meth1 aud rate ReduGiJ]g Baisnce Trade debtsrs Trnde debtorg att an5 due f(om custDm¢ts for m¢hftndise sold or p¢rfonned iu the ordillary oUt of business. Trdde debtors are recosnised initialty at the lrnn5action pri. Th¢y ar¢ subsequently measurv41 at aJJortis¢d cost using the ¢ffectiv¢ iT1t¢St less pro%w for impaiLTrent. A provision for the Impain of trth debtors is established wh¢n thete is objective ld¢ll¢¢ thotthe charity wlll not be able ts llect all amounts due adIngtO th¢ origitixl tsIiDS ofthe yK1VbIes. Cash ond e#sh equhFaltnts Cash aud cash equival¢nts ¢oxllpris¢ cash on band alld call d#posits, and other sbort-t¢rJn highty liquid inva8Éments that Tegdily ¢onv¢rtible to & knos¥n Omovnt of cash alld ¥ubject to an ill8i8Dificant risk of . ¢hange ia valu¢. Pag¢ 12
Vlllage Chllrch Belfast Notss to the Financial Ststements for the Year Ellded 30 Jun¢ 2024 Trade ¢reditois Trade rrwjktors ar¢ objtykn to pay ts Eoods or Servi tbat hav¢ b¢¢ll a¢quir¢d in the ordiw cos¢ of busilless suppliers. AOnts payable are classified 4$ ¢llrrent Iiabiliti¢s if the dwity does not have att unconditional righl at thtt end of thc reportin£ perio(L to defer sdtl¢m¢nt of the creditor f4Jr ut least twelve months u£ter the T¢POrtiug dats. If th0r¢ is•n unwnditlonal rigkn to defer sce1¢t for at least tw¢lve months afÉEr th¢ reporting daty they Ore presented as noTrcurreDt Jiabilili¢ Trnd¢ ¢rcditOTS ar8 018¢0 inthally at the lrnnsadion pri¢¢ aua subsequentty meaSUd at amortised cost using the effe¢tive iLter¢stmethod. FrJTwgn ex¢hange Ttan$attiolls in foreAgn cmcies ayc rco)rdcd the Thts o£exthauge at the dats of the transall. Monetsry assets and Iivlbilities denomill in foreign owreneies ot the balanc¢ sh¢et dai¢ ar¢ T¢rted a¢ the rat¢$ of exchange prevailing atthat date. The results of OV¢Ts¢as op¢rations (Trn$l8ted at tbc av¥Tdg¢ Tatss of exdMllg¢ fkning the period and their batance sheets at the r4tr8 ruling at th¢ bal•nce &he¢t dats. Exchonge differences srising on translation of th¢ openiug n¢t ass¢ts 8Thd r¢slllts of ov¢rne&s operati021s are T¢POrt¢d in other (omprekAensAV¢ iticoTh¢ and mulated in equÈty (attribut¢d to non-¢ontrolling int¢rests as appropriate}. Other excha6 aiffeTen¢¢s aT¢ iA th¢ Statemott of Adivittes iti the pttiod iyj whi¢h th ise exc¢pt for: l) ex¢hange dIffn¢ ox tratwctiotix ¢Lt¢rtd into lo Iiedge ctttain for¢igo allT<ll¢y risk8 (s*¢ above)" 2) ¢x¢hang¢ lSIng on gains or losses on llF)TrUA¢netary items whi¢b aro 1¢colSed in otLcr ebmptthensiye inoomw, &nd 3) in thc case of tb¢ 8J1dated fa12ll ststemeBo exchange dIffeAS on monetary iteDJs r¢¢eivable fiDm or payable to a foreign op¢ratiou for which s¢ttlall¢nt is neither planned nor likety to oG¢ux (thue£xe forming part of th¢ nct inve5tsn¢tst in tbe foreigo opationA wFoch I87$1 in oth¢r alld Teportea und¢r equity. Fund stru¢ture Unr¢5tiA¢t¢d fills aye geneTrl fisnds are avadable for use at th¢ tDsstses diSl¢ll in th¢¢ of th¢ objwtives ofthe dwity. Restrithd mcome fijnds those donotÈd for use in a parti¢Dlar area or for S1¢ pwpOSe the use of wbi is r¢strict¢d to that area or plltpose. Pag¢ 13
Village Church Belfast Notes to the Finalleial Statsments for tbe Year Ended 30 Julle 2024 3 Intome frow donatlons #nd l¢gafie4 TtstAI d& fullds Donations and legaoi Dollion$ from ]DdividuS ift aid rE¢l&ind Re8lllat gÉving and Gooitsl donations Total for 2024 10.430 51.211 17,740 1,128 28,170 52,339 207,464 18.868 226,332 Totsl for 2023 258.634 121,2LI 379,845 4 Income from other tradiD% 2divAlies Unr2stricld ds GellerAI Total Md$ Property rglltal income Totsl for2024 530 530 530 530 Totsi for2023 885 885 5 Expenditure on ¢barltsble a¢tivhits UMTestrithd fulld# Gèneral Total funds fvnds Not¢ Nfjssion & Olltstad] DEpreciati.0 amofiis&tiOll and oth¢r similar costs s1c0sts Govornall costs 789SQ 78,950 7,781 121309 2,656 7,78 127,044 2,656 4,735 Totsl for 2024 211.696 4,735 216,431 Yotxl fvr 2023 258,047 40,589 In addition to the expeNdsture abalysed abov4 th¢ro are also 8overAance costs of £1656 (2023 . £4,8S8) whith relate directty to cljaritable A¢tiiryties. Sec note 6 fOrfillth detslls. Page 14
Village Chllreh Betf&st Not&8 to the Finautial Statlients for the Year Ended 30 June 2024 6 AJMIysis of govenvdO¢¢ 5UPPOrt costs funds Genersl Totsl nds Indep¢Thdent examiner fees Examination ofthe fmanci31 stkteLtt¢tsts Other goveTnance costs Totsl for2024 1,090 1,566 1.090 1.566 2.656 TotaI for2023 4.858 7 Net ill¢o]Lungloiitgoing rnsources Nrt in¢omlttg resourrts forth¢ yw iu¢lud¢: 2024 2fj23 Depr¢¢iation offixd assets 7.731 4.485 8 Trustees rellEuneration During the yer th¢ rh¥rity made the ftillowiog transactloths with trustE¢5: Jonathan Parks Jonathm ParL8 received remun¢ration of £38,966 (2023.. £37,125) durin¥ th¢ y¢ar. P38¢ 15
Village Church Belfast Plotes to the Finaneial Ststements for the Year Ended 30 June 2024 Staff costs The aggregate paymll costs wer¢ as follo 2024 Stsff ¢osts during th¢ year were: Wa8es aud salaries Other stsff w$ts 124,652 2,392 168,122 12,204 127,044 180.326 No employtt ofrnoTr than £60,IJQO durin8 the ycar. 10 Independent examillevs ZPmUll¢rathwi 2024 2023 Examhjth ofthe financial ststements 1.029 Pagr 16
Willage Church Belfast Notes to the Financial Ststsments for the Year Exdtd 30 Julle 2024 11 Tation Th¢ charity is a tegi8ter¢d ¢hority and is thereftire aempt from t&xatÈo 12 fix¢d assds Land 2nd buildings Furnilvre and equipmeat Totsl Cost At 13uAy 2023 Addition5 47.867 47,867 209,634 209 634 At 30 June 2024 209.634 47.867 257.501 Depr¢ciation At l July 21)23 Charge for th¢ y¢4r At 30 Sun¢ 2024 29926 29.926 7,781 4.193 4,193 37.707 Net book Yalut At 30 June 2024 205,441 14J53 219,794 At 30 1uN¢ 2023 17,941 17.941 13 Debtor5 21124 debtors 52J38 14 Cash and cash t4lliYAlents 2024 2(123 Cash at bonk 42,821 15 Cr¢ditors.' anwunts hlling ltue within olleyear 2024 2023 Tradv edItO Other t&Yation artd soci815ecurity Oth¢r crcllitors Accruals 78 647 638 1.090 1722 1,035 3,829 Page 17
Villagè Chureh Belfast Notes to the Financial Statemellts for the Year Ended 30 June 2024 16 BA]anr¢ at 30 2024 B8lwTt¢ gt l Tneonthig Re5QUtteY Jyjy 2023 resources expended Transfers UnrtrICted funds Genaal 121662 179,407 207,994 (211,690 (4,735) 193J40 312,51X) Restricted funds 18,868 193J40 Total 3QI069 226,862 1216.431 312,500 B2lance at I July2022 Resourcas e4wndul Balance at 30 JUD¢ 2023 rwurcos Unr¢gtrArteJl fllnds General 121.190 259,519 (258,047) 122.662 Restrlded fiwdg 98.785 121,211 179.407 Totsl 219,975 380,730 {298,636) 301069 The T¢stri¢ted funds of £193J40 we£e used to purchase the p15¢$ at 25 Upw Newtownards Rtsad. The Churoh i8 being used for Unre puryo5¢S, #Ld 75 treattr3 as a uJrntrl¢ted asseL The of rl¢t¢d fund5 has th¢r¢fore bten moved to wrestrÉcted £mds. 17 ABalysi5 oln¢t assets between £unds iTnrestrleted Totsl fands %t 30 Julle Genernl Tkngible £¥ed &%s¢ts Curr¢nt assets Curnt liabilisies 219,794 95,159 453 219.794 95,159 2.453 Totsl net assets 31 312500 Unrestrleted fDllds GffieYAI Totsl funds at 30 June 21ll3 Restricted Tangible fix¢d assets 17941 108,550 3,829 17941 287957 3.829 179,407 Currcnt liabi]ities Totsl nut assets 122.662 Pag¢ 18