2023-09-30-accounts - Belfast First Church of the Nazarene

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BELFAST FIRST CHURCH OF THE NAZARENE

140a Skegoneill Avenue BELFAST BT15 3JR

ACCOUNTS FOR THE PERIOD ENDED 30th SEPTEMBER 2023

TaxAssist Accountants 103 Cregagh Road Belfast BT6 8PY

BELFAST FIRST CHURCH OF THE NAZARENE

ANNUAL REPORT AND ACCOUNTS FOR THE PERIOD ENDED 30TH SEPTEMBER 2023

CONTENTS TRUST INFORMATION INCOME & EXPENDITURE STATEMENT BALANCE SHEET NOTES TO THE ACCOUNTS	PAGE
	1 2 3 4 - 5

BELFAST FIRST CHURCH OF THE NAZARENE

TRUST INFORMATION

TRUSTEES Mr Stephen Anderson Mrs Lynda Heron Ms Tracy Mather Mrs Christine Molloy Mrs Lynn Myers CHARITY NUMBER 106405 ACCOUNTANTS TaxAssist Accountants 103 Cregagh Road Belfast BT6 8PY BANKERS Ulster Bank 202 - 206 York Street Belfast BT15 1HY

Page 1

BELFAST FIRST CHURCH OF THE NAZARENE

INCOME & EXPENDITURE STATEMENT FOR THE PERIOD ENDED 30th SEPTEMBER 2023

RECEIPTS
Tithes / Gifts
Gift Aid
Room Hire
Dedicated Gifts
Interest Receivable
Shop Sales
Others
EXPENDITURE
Pastor's Employment Costs
Salaries
Shop Rent
Outreach
Light & Heat
Water Rates
Equipment Expensed
Speaking Fees
Insurance
Repairs and Maintenance
Accountancy
Mission / Outreach
Charitable Donations
Conferences
Gifts
Childrens Ministry
Sundry Expenses
Printing, Posting & Stationery
Cleaning
Bank Fees / Charges
NET SURPLUS

Year Ended
Year Ended
30 Septmber 2022
30 Septmber 2022
£
£
18,921
23,436
24,171
16,595
4,709
4,645
-
19,464
974
49
23,756
25,343
4,401
1,406
76,932
90,938
11,012
711
11,311
11,311
6,000
5,525
1,474
-
8,607
3,839
441
314
1,144
539
1,750
1,500
2,864
2,622
7,637
2,546
468
468
1,002
5,195
3,714
1,200
6,981
3,085
5,678
8,724
358
234
318
153
154
235
2,362
1,839
40
40
73,315
50,080
3,617
40,858

Page 2

BELFAST FIRST CHURCH OF THE NAZARENE

BALANCE SHEET AS AT 30TH SEPTEMBER 2022

Notes FIXED ASSETS Tangible Assets 2 CURRENT ASSETS Debtors 3 Bank and Cash Balance CURRENT LIABILITIES Accruals 4 CURRENT ASSETS LESS CURRENT LIABILITIES TOTAL ASSETS Creditors due after more than one Year 5 NET TOTAL ASSETS FINANCED BY Other Reserves Income and Expenditure Account MEMBERS' FUNDS Approved by the Board:	2022 £ - 89,671 89,671 1,404	2022 £ 1,267,363 88,267 1,355,630 - 1,355,630 1,352,013 3,617 1,355,630	2021 £ - 85,586 85,586 936	2021 £ 1,267,363 84,650
				1,352,013
				-
				1,352,013
				1,311,155 40,858
				1,352,013

We confirm that:

i) we approve the accounts set out on pages 3 and 4 and confirm that we are responsible for them, including the selection of the accounting policies and the judgements underlyhing them.
ii) we have made available to TaxAssist Accountants, all the accounting records of the Church and have provided them with all the information necessary for the completion of the accounts.
iii) to the best of our knowledge and belief, the accounting records reflect all the transactions entered into by the Churchin the year ended 30th September 2021.

Chrstine Molloy - Trustee Tracy Mather - TREASURER

DATE

On behalf of Belfast First Church of the Nazarene

Page 3

BELFAST FIRST CHURCH OF THE NAZARENE

NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 30TH SEPTEMBER 2022

ACCOUNTING POLICIES

1.1 ACCOUNTING CONVENTION

The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets

1.2 TANGIBLE FIXED ASSETS AND DEPRECIATION

Depreciation is calculated to write off the net cost of fixed assets over their estimated useful lives at the following rates:

Fixtures and Fittings TANGIBLE ASSETS COST As at 1st October 2021 Disposals Additions As at 30th September 2022 DEPRECIATION As at 1st October 2021 Eliminated on Disposal Charge for the Year As at 30th September 2022 NET BOOK VALUE As at 30th September 2022 As at 30th September 2021		Land & Buildings Freehold 1,267,363 - - 1,267,363 - - - - 1,267,363 1,267,363		25% Straight Line Equipment Total 34,859 1,302,222 - - - - 34,859 1,302,222 34,859 34,859 - - - - 34,859 34,859 - 1,267,363 - 1,267,363	25% Straight Line Equipment Total 34,859 1,302,222 - - - - 34,859 1,302,222 34,859 34,859 - - - - 34,859 34,859 - 1,267,363 - 1,267,363
					1,302,222
					34,859 - -
					34,859
					1,267,363
					1,267,363

Page 4

BELFAST FIRST CHURCH OF THE NAZARENE

NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 30TH SEPTEMBER 2022

3 4 5	DEBTORS Gift Aid Receivable Gift Aid is now reported on an actual received basis CREDITORS Accruals CREDITORS DUE AFTER MORE THAN ONE YEAR BIND - Nazarene Church		2022 £ - - 1,404 1,404 - -		2021 £ -
					- 936
					936 -
					-

Page 5