GREENISLAND CHURCH OF THE NAZARENE
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30th SEPTEMBER 2024
Greenisland Church of the Nazarene Financial Statements for the year ended 30th September 2024
Receipts and Payments Account
| Receipts Voluntary giving Gift Aid Donations and Bequests Other Income Investment Income Payments Cost of Fundraising Charitable Activities Governance Costs Before transfers between funds Transfers between Funds Net Operating Surplus/ (Deficit) |
Unrestricted Restricted Endowment Total Total Funds Funds Funds 2024 2023 £ £ £ £ £ 30,291 1,802 0 32,093 29,524 2,239 0 0 2,239 2,595 0 0 0 0 0 112 0 0 272 2,865 1,292 0 0 1,292 736 33,934 1,802 0 35,896 35,720 0 0 0 0 0 35,582 1,754 0 37,336 27,505 1,410 0 0 1,410 100 36,992 1,754 0 38,746 27,605 (3,058) 48 0 (2,849) 8,115 0 0 0 0 0 (3,058) 48 0 (2,849) 8,115 |
|---|---|
The reconciliation of the receipts and payments shown above to the total funds of the Church is disclosed on the following page
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Greenisland Church of the Nazarene Financial Statements for the year ended 30th September 2024
Statement of Assets & Liabilities
Reconciliation of Receipts and Payments Account
| Opening Funds at beginning of year Surplus/ (Deficit) for the year Non- Momentary adjustment Closing Funds at end of year Held as followings: Bank Current Account No. 1 Bank Current Account No. 2 Cash in hand Non-monetary Assets (not included Buildings Contents |
Unrestricted Funds £ 100,075 (2,897) 97,178 97,178 22,975 74,203 0 97,178 above) Unrestricted Funds 812,223 46,109 858,332 |
Restricted Funds £ 745 48 793 793 793 793 Restricted Funds 0 |
Endowment Total Funds 2024 £ £ 100,820 0 (2,849) 0 97,971 0 97,971 23,768 74,203 0 0 97,971 Endowment Total Funds 2024 812,223 46,109 0 858,332 |
Total 2023 £ 92,705 8,115 100,820 100,820 20,878 79,942 0 100,820 Total 2023 543,210 33,690 576,900 |
|---|---|---|---|---|
The trustees are of the opinion that the most appropriate basis of valuation is the Insurance cover which is shown above.
Statement of Material Liabilities
The Trustees are not aware of any material liabilities at the date of this Report
Approved on behalf of the trustees on …..................................and signed on their behalf by:-
_____ _________ Trustee Trustee
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Greenisland Church of the Nazarene Financial Statements for the year ended 30th September 2024
Notes to the Accounts
Basis of Accounting under Receipts & Payments
Revenue that the Charity is entitled to is recorded when received, expenditure that the Charity incurred is recorded when paid.
Purpose and nature of funds
General unrestricted fund : These are funds that have been received carrying no restriction on their use and are put to purpose at the discretion of the trustees in furtherance of the objects of the Charity.
The following designated funds are held within the general unrestricted funds, these discretionary funds are set aside by the Trustees for a specific purpose:
Restricted funds: are funds subject to specific trusts, which are declared by the donor(s) and are expendable by the trustees in furtherance of some particular aspect(s) of the objects of the charity. These funds are subject to restriction (as to their use) imposed by those from whom the funds are obtained. Resources received but not yet expended at the end of the financial year are retained as a reserve.
Endowment funds: where there is no power to convert the capital into income, is known as a permanent endowment fund and the capital is normally held indefinitely. Where trustees have the power to convert endowment funds into income, such funds are known as expendable endowments.
Any funds held under this classification by the Charity are permanent.
Trustee benefits (in total)
| Remuneration Reimbursed expenses |
2024 2023 0 5,260 0 0 |
2023 | |
|---|---|---|---|
As explained in the Trustees Report, the only private benefit flowing from our purpose in relation to the trustees is to those in paid employment within our congregation who receive benefits as a result of their holding office or employment. However, this is incidental and necessary in order to further our charitable purpose. There are no other private benefits.
Analysis of Restricted Funds
| Haiti Alabaster Romania Missionary |
Opening Balance 18 159 568 745 |
Unrestricted transfer 644 644 |
Restricted Income 436 180 988 1,604 |
Expenditure 0 0 (644) (1,556) (2,200) |
Closing Balance |
|
|---|---|---|---|---|---|---|
| 454 339 0 0 793 |
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Greenisland Church of the Nazarene
Financial Statements for the year ended 30th September 2024
| RECEIPTS Voluntary Giving Tithes Sunday School Collection Mission Meetings Contributions Easter Harvest Prayer meetings & Fasting Alabaster Haiti Donation Ladies Fellowship Gift Aid received Donations & Bequests Donations Bequest Other Income Dinner Insurance refund J Dickson - re-imbursement Investment Income Bank Interest Total Receipts |
Unrestricted Restricted Endowment Total Total Funds Funds Funds 2024 2023 £ £ £ £ £ 0 26,676 26,676 24,295 596 596 472 0 988 988 868 196 196 0 169 169 90 2,654 2,654 2,269 0 180 180 329 0 436 436 382 198 198 570 250 |
|---|---|
| 30,291 1,802 0 32,093 29,524 |
|
| 2,239 2,239 2,595 |
|
| 0 0 0 0 0 0 |
|
| 0 0 0 0 0 |
|
| 0 0 112 112 600 160 0 2,265 |
|
| 112 0 0 272 2,865 |
|
| 1,292 1,292 736 |
|
| 1,292 0 0 1,292 736 |
|
| 33,934 1,802 0 35,896 35,720 |
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Greenisland Church of the Nazarene
Financial Statements for the year ended 30th September 2024
| PAYMENTS Charitable Activities Pastor's Salaries Locum support Insurance Oil Electricity General repairs & maintenance Trade Flooring NI Fire Security Service AV & IT Expenses Post & Stationery Bank Fees Love Gift Sunday School/ Youth District Fees General expenses Funeral expenses Improvements to grounds Romania Wings Appeal District Charity disbursements Governance Cost AGM Meeting expenses Examiner Fee (3 years) Total payments |
Unrestricted Restricted Endowment Total Total Funds Funds Funds 2024 2023 £ £ £ £ £ 0 0 5,260 6,767 6,767 5,578 1,326 1,326 1,083 1,181 1,181 1,359 917 917 910 1,684 198 1,882 1,867 7,228 7,228 2,296 2,296 343 343 80 149 149 387 95 95 79 650 650 225 358 358 496 11,684 11,684 2,630 260 260 71 0 3,439 0 3,000 644 1,556 2,200 300 0 100 0 641 |
|---|---|
| 35,582 1,754 0 37,336 27,505 |
|
| 0 0 0 0 0 1,410 0 0 1,410 100 |
|
| 1,410 0 0 1,410 100 |
|
| 36,992 1,754 0 38,746 27,605 |
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