Bangor Church of the Nazarene
Charity Registration Number: NI 107096
Financial statements for the year ended 30 September 2021
| Unrestricted | Designated | Restricted | ||||
|---|---|---|---|---|---|---|
| Note | Funds | Funds | Funds | 2021 | 2020 | |
| £ | £ | |||||
| Incoming resources | ||||||
| Voluntary income | 56326.16 | 485.00 | 7788.36 | 64600 | 79224 | |
| Investment income | 0.00 | 0.00 | 0.00 | 0 | 0 | |
| Other Resources Expended Cost of generating funds Charitable activities Governance costs Total Resources expended 4 Net incoming(outgoing) resources for the year Total funds brought forward Total funds carried forward Balance Sheet as at 30 September 2021 Current Assets Cash at bank and in hand |
9495.30 65821.46 28258.40 9470.44 1838.95 39567.79 26253.67 740050.98 766304.65 Unrestricted 18880.13 |
0.00 485.00 0.00 485.00 0.00 485.00 0.00 0.00 0.00 Designated 0.00 |
0.00 7788.36 7577.16 211.20 0.00 7788.36 0.00 4155.00 4155.00 Restricted 0.00 |
9495 74095 35836 10167 1839 47841.15 26254 744206 770460 2021 18880 |
5791 85015 31360 31194 829 63383.00 17426 710589 728015 2020 24613 |
|
| Fixed Assets | 18880.13 | 0.00 | 0.00 | 18880 | 24613 | |
| Land & buildings F&F Plant & Machinery |
1174198.97 7055.08 48.82 |
1174199 7055 49 |
1174199 8300 65 |
|||
| Total Assets | 1200183.00 | 1200183 | 1207177 | |||
| Current Liabilities | ||||||
| BIND loans | 251211.59 | 251212 | 256009 | |||
| Accruals | 859.90 |
| Net Current Assets Long Term Liabilities Bank Loans Net assets Reserves Property reserve Additional interest provision NHF Craft class GB C Murray Fund General reserves c/f |
948111.51 0.00 0.00 948112 934667 177652.00 177652 206652 770459.51 0.00 0.00 770460 728015 126,077.00 126077 126077 65,896.00 65896 65896 1,718.00 1718 1718 567.00 567 566 139.45 139 -49 1,731.00 1731 1731 574,331.90 0.00 0.00 574332 532076 766304.90 0.00 4155.45 770460 728015 |
|---|---|
Approved by Church Board and Annual General Meeting
Signed (Signed) Rev K White Chairman
Board Member
(Signed) T Penman
17th February 2022
Notes to accounts
a. Basis of preparation
The financial statements have been prepared using SORP.
b Fund accounting
Unrestricted funds are available for use at the discretion of the Church Board ("Board") in furtherance of the general objectives of the charity.
For the purposes of these accounts they have been included in the unrestricted and designated funds.
Restricted funds are subjected to restrictions on their expenditure imposed by the donors or through the terms of an appeal.
c. Incoming resources
All incoming resources are included in the Statement of Financial Activities when the church is entitled to the income and the amount can be determined with reasonable accuracy. The value of services of volunteers has not been included.
d. Resources expended
Expenditure is recognized on an accruals basis when a liability is incurred. Expenditure includes any VAT which cannot be recovered.
Costs of generating funds are those costs incurred in running the church and attracting income.
e.Tangible fixed assets
Tangible fixed assets are stated at costs less accumulated depreciation. Plant and machinery are depreciated on a reducing balance basis at 25%. Property is not depreciated since the Board believes the assets to be increasing in value. Fixtures and fittings have been depreciated at 15% on a reducing balance basis.
f. Cash flow statement
The charity has not prepared a Cash Flow Statement on the grounds it is a small entity.
2. Corporation tax
The church is exempt from tax on income and gains falling within Part 11 Chapter 4 CTA 2010 and s256 TCGA 1992.to the extent these are applied to its charitable objects. No tax charges have arisen .
3. Staff Costs
2020 2019 Wages and salaries 31780 These figures include social security costs and pension costs
The average number of employees during the year calculated on the basis of full time equivalents was 1 full time
4. Trustee remuneration and expenses and related party transactions
Neither the members of the Board nor any persons connected with them received any remuneration during the year. The minister is a paid employee but is also chairperson of the Board by reason of his appointment.
5. Tangible fixed assets
| NBV at 01 October 2020 Additions Disposals Depreciation Charge for year Disposals Net book value At 30 Sep 2020 At 30 Sep 2021 6. Reconciliation of General Balance at 30/09/20 Increase Total reserves |
Land & Buildings 1174199 0 0 1174199 0 0 0 1174199 1174199 Reserves 548,576.04 0.00 548,576.04 |
Plant & Machinery 64 0 0 64 16 16 48 0 548,576.04 |
Fixtures & Fittings Totals 0 1174263 0 0 0 0 0 1174263 0 16 0 16 0 1174247 0 1174199 |
|---|---|---|---|
These accounts have been prepared in accordance with the books and records of the church together with explanations provided
T Penman MBA, MCMI Board member
Rev K White Chairperson of the Board
20-Mar-21