2024-09-30-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 2024

JAB Accountancy 103 Cregagh Road Belfast BT6 8PY

BELFAST FIRST CHURCH OF THE NAZARENE

ANNUAL REPORT AND ACCOUNTS FOR THE PERIOD ENDED 30TH SEPTEMBER 2024

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 Mrs Lynne Duncan Mrs Lynda Heron Ms Tracy Mather Mrs Christine Molloy Mrs Lynn Myers CHARITY NUMBER 106405 ACCOUNTANTS JAB Accountancy 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 2024

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
BIND Contribution
Gifts
Childrens Ministry
Sundry Expenses
Printing, Posting & Stationery
Cleaning
Bank Fees / Charges
NET SURPLUS

Year Ended
Year Ended
30 Septmber 2024
30 Septmber 2023
£
£
20,871
18,921
24,663
24,171
3,872
4,709
-
-
804
974
20,309
23,756
4,540
4,401
75,059
76,932
7,876
11,012
16,582
11,311
6,000
6,000
1,816
1,474
8,214
8,607
776
441
16
1,144
1,826
1,750
3,121
2,864
10,135
7,637
492
480
3,353
1,002
4,175
3,714
992
1,172
8,150
5,809
6,333
5,678
772
358
134
318
244
154
2,227
2,362
105
40
83,339
73,328
8,280
-
3,617

Page 2

BELFAST FIRST CHURCH OF THE NAZARENE

BALANCE SHEET AS AT 30TH SEPTEMBER 2024

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	2024 £ - 81,919 81,919 1,932	2024 £ 1,267,363 79,987 1,347,350 - 1,347,350 1,355,630 8,280 - 1,347,350	2023 £ - 89,671 89,671 1,404	2023 £ 1,267,363 88,267
				1,355,630
				-
				1,355,630
				1,352,013 3,617
				1,355,630

Approved by the Board:

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 2024.

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 2024

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 25% Straight Line

TANGIBLE ASSETS

COST As at 1st October 2023 Disposals Additions As at 30th September 2024 DEPRECIATION As at 1st October 2023 Eliminated on Disposal Charge for the Year As at 30th September 2024 NET BOOK VALUE As at 30th September 2024 As at 30th September 2023		Land & Buildings Freehold 1,267,363 - - 1,267,363 - - - - 1,267,363 1,267,363		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

Page 4

BELFAST FIRST CHURCH OF THE NAZARENE

NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 30TH SEPTEMBER 2024

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		2024 £ - - 1,932 1,932 - -	2023 £ -
				- 1,404
				1,404 -
				-

Page 5