## _**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