_**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<br>Resources Expended<br>Cost of generating funds<br>Charitable activities<br>Governance costs<br>Total Resources expended<br>4<br>Net incoming(outgoing)<br>resources for the year<br>Total funds brought forward<br>Total funds carried forward<br>Balance Sheet as at 30 September 2021<br>Current Assets<br>Cash at bank and in hand||9495.30<br>65821.46<br>28258.40<br>9470.44<br>1838.95<br>39567.79<br>26253.67<br>740050.98<br>766304.65<br>Unrestricted<br>18880.13|0.00<br>485.00<br>0.00<br>485.00<br>0.00<br>485.00<br>0.00<br>0.00<br>0.00<br>Designated<br>0.00|0.00<br>7788.36<br>7577.16<br>211.20<br>0.00<br>7788.36<br>0.00<br>4155.00<br>4155.00<br>Restricted<br>0.00|9495<br>74095<br>35836<br>10167<br>1839<br>47841.15<br>26254<br>744206<br>770460<br>2021<br>18880|5791<br>85015<br>31360<br>31194<br>829<br>63383.00<br>17426<br>710589<br>728015<br>2020<br>24613|
|Fixed Assets||18880.13|0.00|0.00|18880|24613|
|Land &  buildings<br>F&F<br>Plant & Machinery||1174198.97<br>7055.08<br>48.82|||1174199<br>7055<br>49|1174199<br>8300<br>65|
|Total Assets||1200183.00|||1200183|1207177|
|**Current Liabilities**|||||||
|BIND loans||251211.59|||251212|256009|
|Accruals||859.90|||||





|Net Current Assets<br>**Long Term Liabilities**<br>**Bank Loans**<br>Net assets<br>Reserves<br>Property reserve<br>Additional interest provision<br>NHF<br>Craft class<br>GB<br>C Murray Fund<br>General reserves c/f|948111.51<br>0.00<br>0.00<br>948112<br>934667<br>177652.00<br>177652<br>206652<br>770459.51<br>0.00<br>0.00<br>770460<br>728015<br>126,077.00<br>126077<br>126077<br>65,896.00<br>65896<br>65896<br>1,718.00<br>1718<br>1718<br>567.00<br>567<br>566<br>139.45<br>139<br>-49<br>1,731.00<br>1731<br>1731<br>574,331.90<br>0.00<br>0.00<br>574332<br>532076<br>766304.90<br>0.00<br>4155.45<br>770460<br>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<br>Additions<br>Disposals<br>**Depreciation**<br>Charge for year<br>Disposals<br>**Net book value**<br>At 30 Sep 2020<br>At 30 Sep 2021<br>6. Reconciliation of General<br>Balance at 30/09/20<br>Increase<br>Total reserves|**Land &**<br>**Buildings**<br>1174199<br>0<br>0<br>1174199<br>0<br>0<br>0<br>1174199<br>1174199<br>Reserves<br>548,576.04<br>0.00<br>548,576.04|Plant &<br>Machinery<br>64<br>0<br>0<br>64<br>16<br>16<br>48<br>0<br>548,576.04|Fixtures &<br>Fittings<br>Totals<br>0<br>1174263<br>0<br>0<br>0<br>0<br>0<br>1174263<br>0<br>16<br>0<br>16<br>0<br>1174247<br>0<br>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