Bangor Church of the Nazarene
Charity Registration Number: NI 107096
Financial statements for the year ended 30 September 2025
| Unrestricted | Designated | Restricted | ||||
|---|---|---|---|---|---|---|
| Note | Funds | Funds | Funds | 2025 | 2024 | |
| £ | Restated | |||||
| Incoming resources | ||||||
| Voluntary income | 54049.96 | 1318.42 | 30033.54 | 85402 | 62518 | |
| Investment income | 0.00 | 0.00 | 0.00 | 0 | 0 | |
| Other | 2849.34 | 16089 | 10713.00 | 29651 | 49538 | |
| Resources Expended | 56899.30 | 17407.42 | 40746.54 | 115053 | 112056 | |
| Cost of generating funds | 18948.32 | 0.00 | 0.00 | 18948 | 7383 | |
| Charitable activities | 1760.48 | 1318.42 | 40764.54 | 43843 | 58029 | |
| Governance costs | 3720.00 | 0.00 | 0.00 | 3720 | 1190 | |
| Total Resources ex | 4 | 24428.80 | 1318.42 | 40764.54 | 66511.76 | 66602.00 |
| Net incoming(outgoing) | ||||||
| resources for the year | 32470.50 | 16089.00 | -18.00 | 48542 | 27852 | |
| Total funds brought forward | 774836.02 | 0.00 | -2778.26 | 817512 | 744206 | |
| Total funds carried forward | 807306.52 | 16089.00 | -2796.26 | 866054 | 772058 |
Balance Sheet as at 30 September 2025
| Current Assets Cash at bank and in hand |
Unrestricted Designated Restricted 77502 0 0 |
2025 2024 77502 12074 |
|---|---|---|
| Fixed Assets | 77502 0 0 |
77502 12074 |
| Land & buildings | 1174199 | 1174199 1364199 |
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F&F 3468 3468 4335
Plant & Machinery 0 0 20
Total Assets 1255168.80 0.00 1177667 1368554
Current Liabilities
BIND loan 1 74480 0.00 74480.00 240817
Int free loan 0.00 66600
Accruals 500 500.00 500
Mtching loan provision -35512
Net Current Assets 1180189 0.00 0.00 1180189 1108223
Long Term Liabilities
Bank Loans 0 0.00 0 0
Net assets 1180189 0.00 0.00 1180189 1108223
Reserves
Property reserve 315564 315564 315,564.00
Additional interest provision 58232 58232 65896
NHF 1,979 1979 1684
NMI 255 255 0
Fellaship 100 100 0
Craft class 117 117 44
C Murray Fund 962 962 1731
General reserves c/f 802979 802979 723304
1176775 0 3414 1180189 1108223
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Approved by Church Board and Annual General Meeting
Signed (Signed) Rev K White Chairman
Treasurer
(Signed) T Penman
12-Feb-26
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.
Designated funds are unrestricted funds earmarked by the Board for particular purposes.
For the purposes of these accounts they have been included in the restricted 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 values of services provided by 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
2025 2024 Wages and salarie 34865 34168 These figures include social security costs and pension costs including salary sacrifice
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
| Land & Buildings NBV at 01 Octobe 1364199 Additions 0 Disposals -190000 1174199 Depreciation Charge for year 0 Disposals 0 0 Net book value At 30 Sep 2025 1174199 At 30 Sep 2024 1364199 |
Plant & Machinery 20 0 0 20 20 20 0 20 |
Fixtures & Fittings Totals 4335 1368554 0 0 0 -190000 4335 1178554 867 887 867 887 3468 1177667 4335 1368554 |
|---|---|---|
These accounts have been prepared in accordance with the books and records of the church together with explanations provided
T Penman MBA, MCMI
Treasurer and Board member