COMPANY REGISTRATION NUMBER: N1646256 CHARITY REGISTRATION NUMBER.. 107245 Victory Church Belfast Limited Company Limited by Guarantee Unaudited Financial Statements 30 June 2022 AUBREY CAMPBELL & COMPANY Chartered accountants 631 Lisburn Road Belfast BT9 7GT
Victory Church Belfast Limited Company Limited by Guarantee Financial Statements Year ended 30 June 2022 Page Trustees, annual report (incorporating the director's report) Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements
Victory Church Belfast Limited Company Limited by Guarantee Trustees, Annual Report Ilncorporating the Director's Report) Year ended 30 June 2022 The trustees. who are also the direclors for the purposes of company law. present their report and the unaudiled financial slalemenls of the charity for Ihe year ended 30 June 2022. Reference and administrative detalls Registered charity name Victory Church Belfast Limited Charlty reglslratlon number 107245 Company registration number N1646256 Principal office and registered 243 Castlereagh Road office Belfast BT5 5FL The tru5tee5 Mr G M¢Kibben Mrs K McKibben Mr S McKibben Independent examiner John Magee- Aubrey Campbell & Co 631 Lisburn Road Belfast BT9 7GT structure. governance and managemenl The governance and management of Victory Church Belfast 15 made up of Trustees, Pasiors and Elders. All decisions regarding church affairs and how church funds are spent Is handled by Eklers. Oblectlves and a¢tivltie$ Victory Church Belfast continues lo exist lo glorify God. preach the gospel to every person and make a difference in our community . There was no harm flowing from the charities purposes and there was no private benefit. All Trustees of the charity are aware ol the Commissions public benefit slatulory guideline requirement. Strategic report The following sections for achievements and performan and financial review form Ihe strategic report of the charity.
Victory Church Belfast Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) IntInu&d) Year ended 30 June 2022 Achievements and performance Connect ministry.. Victory Church Belfast, on a weekly basls, stands on the Casllereagh Road with refreshments for the public. We use this as an opportunity lo encourage the local community lo pray and care for anyone who needs it. Homeless.. Members of the church go out onlo the streets of Belfast with care packages and food. We sèek to listen, care for and positively impact the homeless community in Belfast . Street ministry.. We have iwo groups on a weekly basis sharing the love of the gospel on the streets of Belfast both with scripture and in practical lerms such as referrals lo food banks elc. Foodbank.. Victory Church look the example of lead pastors and chose lo feed families throughout the period in question. We ran a delivery based food bank plus a solid base food bank where the public would come and gel lop ups lo Iheir shopping 01 essentials lo carry Ihern through. We have seen a massive increase during 2020 and beyond in Ihe praclical needs of Ihe cornmunily. Childrens ministry.. The childrens ministry has included not just a Sunday school for primary age children, bul also events, parties and summer scheme and an Easter scheme. Youth leaders.. We have started training our older youth to be helpers in ministry with their own t-shirts and responsibilities for stewardin9 the youn9er children. Families.. Durin9 this period we held a loy drive lo supply Christmas, from toys lo food, for those in severe need. WÈ saw a massive demand for this and il allowed us lo help supply Christmas for people in the local area and further afield. We have also held family events including quiz night, Mothers, Day and Fathers, Day events and Christmas lebratIonS which are all open lo the community. Online: Pastor Gary personally tsught over 200 hrs of bible teaching online in this period with over 400000 people watching these teachings. Victory Church online Facebook group was started with over 3500 members around the world tuning in regularly for teachings. Homeless follow up.. The ministry has allowed for 8clive support including helping individuals get into rehab and into housing during this period. And also supplying reconditioned while goods and food to those in need. This has been possible due to donations of goods. Bible study: Bible study occurs each Wednesday at 7.00pm Whe we inslru¢l and tutor people in the discernment and division of scripture.
Victory Church Belfast Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (COllllnuedJ Year ended 30 June 2022 Men.. To aid in the fight against the current mental health crisis we have held Men's Nights which gives a free space for men lo speak specifically about their mental heallh. Missions.. We have supported pastors on the ground in Ukraine al the break out of the UkrainianlRussian war and child rescue charity in Uganda via TB ministries. Financial review This year saw the continuing growth in the needs of the cornmunity. As such we continued to run both delivery and an in-house foodbank, supplying essentials lo those in need. Giving from the conoregalion has sustained this from helping directly on the ground with day lo day living lo aiding pastors financially on the ground in Ukraine lo help citizens flee the area lo safety . The last portion of the year saw Victory increase ils unil rental. We look on Ihe secondary neighbouring unil combined with. the upstairs for Sunday school meaning Dur rent increased. This was needed lo facilitate members willi disabilities and the growlh ol the congregation. The fruits of our labour as a church h3ve been sp.en in multiple baplifms and galvalions this year, chi5dren in Uganda receiving beds, people helped lo flee the Ukrainian conllicl, and hundreds led directly from Victory Church Belfast. The Iruslees, annual report anc5 the slralegic report were approved on on behalf of the board of trustees by.. signed Mr G McKibben Trustee Mrs K McKibben Trustee
Victory Church Belfast Limited Company Limited by Guarantee Independent Examlner's Report to the Trustees of Victory Church Belfast Limited Year ended 30 June 2022 I report lo the Iruslees on my examinalion ol the financial slalemenls of Victory Church Belfast Limited I'the charily'l for Ihe year ended 30 June 2022. Responsibilities and basis of report As the trustees of the company land also ils directors for the purposes of company lawl you are responsible for the preparation of the financial slalemenls in accordance with the requirements of Charities AGI (Northern Ireland) 2008 Ilhe '2008 Acl'l ancl the Companies Aot 2006 1'lh& 2006 Acl'l. You are satisfied Ihal the accounts of the company are nol required by charity or company law lo be audited and have chosen instead lo hav& an independenl examination. Having satisfied myself that the accounts of the company are not required lo be audited Ljnder Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of the charity's financial slalemenls as carried out under section 65 of the 2008 Act. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northem Ireland under section 6519llbl of the 2008 Act. Independent oxaminer's statement I have compleled my examination. I confirm that no mallers have come lo my attention in connection with my examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act., or the financial slalemenls do not accord with those records., or the financial slalements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement Ihal the accounts givè a 'lrue and fair, view which is not a matter considered as part of an independent examination. or the financial statements have not been prepared in accoTdance with the methods and principles of the Slalemenl of Recommended Practice for accounting and reporting by charities applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I confirm that there are no other malters to which your attenlion should be drawn to enable a proper understanding of the accounts to be reached. John Magee- Aubrey Carnpbell & Co Independent Examiner 631 Lisburn Road Bellasl BT9 7GT
Victory Church Belfast Limited Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 30 June 2022 2022 Unreslricled fLtnds Total funds 2021 Total funds Note Income and endowments Donations and legacies Total incom& 20,682 20.682 22.486 20,682 20.682 22.486 Expenditure Expenditure on charitable activities Total expenditur8 21,506 21,506 21,947 21,506 21,506 21,947 Net lexpenditurellincome and net movement in funds 18241 1824} 539 Reconciliation of funds Total funds brought fotward Total funds carried forward 1651 18891 1651 18891 {6041 165} The statement of financial activities includes all gains and1osses recognised in the year. All income and expenditure derive from continuing a¢livili&s. The notes on pages 7 to 13 form part of these financial statements.
Victory Church Belfast Limited Company Limited by Guarantee Statement of FinanGial Position 30 June 2022 2022 2021 Note Fixed assets Tangible fixed assets 13 184 230 Current assets Cash al bank and in hand 883 805 Creditors: amounts falling due wlthin one year Net current Ilabllltles 14 1,956 1,100 1.073 295 Total assets less current liabilitifys 18891 18891 165) 165) Net liabilitigs Fund5 of the charity Unrestricted funds 18891 18891 (65) 1651 Total charlty funds 15 For the year ending 30 June 2022 the charity was enlilled lo exemption from audit under section 477 of the Companies Act 2006 relating lo small companies. Directors. responsibilities.. The members have not required the cornpany lo obtain an audit of its financial statements for the year in queslion in accordance with se¢lion 476.. The directors acknoM4edge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have bèen prepared in accordance with the provisions applicable to companies subject lo the srnall companies. regime. These financial slalements were approved by the board of Iruslees and aulhorised for issue on a March 201? and are signed on behalf of the board by.. Mr G McKibben Trustee Mrs K McKibben Trustee The notes on pages 7 to 13 form part of these financial ststements.
Victory Church Belfast Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 30 June 2022 General Information The charily is a public benefil enlily and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northein Ireland. The address of the registered office is 243 Casllereagh Road, Belfast, BT5 5FL. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Slalement of ReGomrnended Practice applicable lo charities preparing their acGounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 Icharities SORP IFRS 10211 and Ihe Companies AGI 2006. Accounting poll¢les Basis of preparation The financial slalements have been prepared on the historical cost basis, as modtfied by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial slalemenls are prepared in sterling. which is the functiona1 currency of the entity. Going concern There are no material uncertainties about the charity's ability lo wnlinue. Disclosure exemptions The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.lal No cash flow statement has been presented for the company. Ib) Disclosures in respect of financial instruments have not been presented. Judgements and key sources of estimation uncertalnly The preparation of the financial slalemenls requires management lo make jud9ements, eslimales and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of futu events that are beli&ved lo be reasonable under the circumslances. Fund accounting Unreslricled funds are available for use al the discrelion of the Iruslees to further any of the charity's purposes. Designated funds are unreslri¢led funds earmarked by the Iruslees for particular future project or commitment. Reslricled funds are subjected lo reslriclions on their expenditure declared by the donor or through ihe terms of an appeal. and fall into one of two sub-classes.. reslricled income funds or endowment funds.
Victory Church Belfast Limited Company Llmited by Guarantee Notes to the Financial Statements f¢onlinuedJ Year ended 30 June 2022 Accoui)ting pollcies (conlinueLII Incoming resources All incoming resources are included in the sl¥lement ol financial activities when entillemenl has '.)?s£cJ' Ip Ihal the economic benefits associated with the transaction arfy y)'?..,Iip{I lo iJp.rl'iulcti' calcijpries of ip.come'. incoinp Iroin rjunalions or graiils is rLAcognised when Ihtsrc Is eijidence of enlillemenl lo the gill. receipt is probable and ils amount can be measured reliably. leg8cy income is recognised when receipt is prob8bla and enlillemenl is esl8blish8d. income from donated goods is measured al the lair value of the goods unless this is impractical lo measure reliably. in which case the value is derived from the cost lo the donor or Ihe eslimaled resale value. Donated fa¢ililies and services are recognised in the accounts when received if the value ean be reliably measured. No 2mounts are included for Ihe contribution of general volunleers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classifiecs as unreslricled funds unless there is a conlraclual requirement for it lo be spent on a particular purpose and returned if unspent, in which case il may be regarded as reslricled. Resources expended ExpencSilure is recognised on an accruals basis as a liability is incurred. ExpenditLJre includes any VAT which cannot be fully recovered. and is classified under headings of the statement of financial activities lo which il relates.. expenditure on raising funds includes the costs of all fundraising aclivilies. events, non-charilable trading aclivilies, and the sale of donated goods. expenditure on chadlable activities includes all costs incurred by a charity in undertaking activities that further ils charitable aims fDT the benefit of ils beneficiaries, inclLJding those support costs and cosls relating lo the governance ol the charity apportioned lo charitable other expenditure includes all expenditure that is neither related lo raising funds for the charity nor part of ils expenditure on charitabl8 aclivilies. All costs are allocated lo expenditure categories reflecting the use of the resource. Direct costs attribulabSe lo a single activity are allo¢aled directly to that activity. Shared costs are apportioned between the activities they contribute lo on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost. and subsequently slated al cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded al the fair value al the dale of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Victory Church Belfast Limited Company Limited by Guarantee Notes to the Financial Statements (¢onlinued) Year ended 30 June 2022 Accounting pollcle5 (¢ontinuedJ Tangible assets Icontinuedl An increase in the carrying amount ol an asset a5 a result of a revaluation. is recognised in other recognised gains and losses. unless it reverses a charge for impairment that has previously been recognis<,.d as expenditure within the slalemenl of financial aclivilies. A decrease in the carrying amount of an assel as a result ol revaluation, is recognised in other recognised gains and losses, except lo which il offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial aclivilies. Depreciation Depreciation is calculated so as lo write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows.. Fixtures and fillings 200/y reducing balance Impairment of fixed assets A review for indicators of impairment is carried out 81 each reporting dale, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impaimients are also reviewed for possible reversal at each reporting dale. For the purposes of impairment lesling, when il is not possible lo estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-geneialing unil lo which the asset belongs. The cash-generaling unit is the smallest idenliliable group of assets that includes the asset and generales cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment lesling of goodwill, the goodwill acquired in a business combination is. from the acquisition dale, allocated lo each of the cash-generaling units that are expected lo benefit from Ihe synergies ol the combination, irrespective of whether olher assets or liabilities of the charity are assigned lo those units. Flnancial instruments A financial asset or a financial liability is recognised only when the charity becomes a party lo the contractual provisions of the inslrumenl. Basic financial instruments are inili811y Teeognised 81 the amount re¢eiv2ble or payable including any relaled transaction costs. Current assets and current liabilities are subsequently measured al the cash or other consideration expected to be paid o¥ received and not discounted. Debt instruments are subsequently measured al amortised cost.
Victory Church Belfast Limited Company Limited by Guarantee N otes to the Fiiiancial Stateme nts Icotttlnued) Year ended 30 June 2022 Accounting policies fconiinuÈd} Flnan¢lal instruments {¢ontlnuedJ Where investments in share5 are publicly Iraded or their fair value Can olherwise be measured reliably. Ihe investment is subsequently measured al lair value wilh changes in fair value recognised in income ancs expenditure. All other such inveslrllenls are subsequently measured at cost less impairment. Other liriancial instrumtrnls, including derivatives, are initially recognised al fair value, unless payment for an asset is deferred beyond normal business terms or financed al a rale of interest that is nol a market rate, in which case the asset is measured 81 the present value of the future paymenl.% discounted al a market rale of interest for a similar debt Inslrumenl. Other financial instruments are subsequently measured al fair value, with any changes recognised in the slalemenl of financial aclivilies, with the exception of hedging instruments in a designated hedging relationship. Financial assets th81 are measured al cost or amortised cost a reviewed for objective evidence ol impairinenl al the end of each reporting dale. If there is objeGlive evidence of impairrnenl, an impairment loss is recognised under the appropriate heading in the slalement of financial activities in which the initial gain was recognised. For all equity inslrumanls regardless of significance, and other fin2ncial assets Ihal are indivi(Jually signilicanl. Ihese are assessed individually lor impairment. Other financial assets a either 3ssessed individually or grouped on the basis of similar credit risk characteristics. Any roversals Df impairment are recognised immediately, lo the exlenl that the reversal does not ". e.%t.'Il Ip. ci c8rryinq 2moiJnl ol Ihe lin3ncial asset Ilal exceeds what the carrying amounl would have bcpn h¢id the impciirmenl not previoijsly been recognised. Limiled by guarantee The corr,p¥ny is limited by guarantee and has no share capila5. Donations and legacles Unreslricled Total Funds Unrestricted Total Funds Funds 2022 Funds 2021 Donations Donations and offerings 20,682 20,882 22.486 22.486 10
Victory Church Belfast Limited Company Limited by Guarantee N otes to the Fina ncial Statements Iconlinuedl Year ended 30 June 2022 Expenditure on charitable activities by fund type Unreslricled Total Fund5 Unrestricled Total Funds Funols 2022 Funds 2021 Sunday S¢hool Supporl co$15 4,405 17,101 4,405 17,101 9,484 12.463 9,484 12,463 21,506 21,506 21,947 21,947 Expendlture on charltable activities by activity type Activities undertaken directly Suppori Total funds costs 2022 Total fund 2021 Sundèy Jrhool Goveriiaii¢e costs 4.405 16,401 700 20,806 700 21,347 600 4,405 17,101 21,506 21,947 Analysis of support costs Analysis of support cosls Total 2022 Total 2021 Premises Governance ¢osls Support costs - Other costs 5,242 700 11,159 5,242 700 11,159 2,353 600 9,510 fj7,101 17,101 12.463 Net lexpenditurellincome Nel lexpendilurellincome is slated after chargingllcredilingl.. 2022 2021 Depreciation of tangible fixed assels 46 58 10. Indepèndent examinatlon fees 2022 2021 Fees payable lo the incl&pendenl èxaminer for.. Independent examination of the financial slalemen15 700 600 11. Staff costs 11
Victory Church Belfast Limited Company Limited by Guarantee Notes to the Financial Statements Icontlnuedl Year ended 30 June 2022 11. Staff Costs Iconlinuedj Pastor Gary McKibben. a Trustee, was paid £7,287.00 for his seNices as Pastor of Victory Church Belf8sI Limiled12021 £7,278.251. Pastor McKibben is self-employed. The average head count of employees during the year was Nil12021'. Nil}. No employee received employee benefits of more than £60,000 during the year12021'. Nill. 12. Trustee remtjneralion and expenses Pastor Gary McKibben. a Trustee, was paid £7,287.00 for his services as Pastor of Victory Church Bellasl Limited12021 £7,278.25). Pastor McKibben is self-employed. 13. Tangiblo fixod assets Fixtures and fittings Cost At 1 July 2021 and 30 June 2022 450 Depreciatlon Al 1 July 2021 Charge for the year At 30 June 2022 220 46 266 Carrying amount At 30 June 2022 184 AI 30 June 2021 230 14. Creditors.. amounts falling due within one year 2022 2021 Accruals and deferred income 1.956 1,100 12
Victory Church Belfast Limited Company Limited by Guarantee Notes to the Fi nancial Statements Icontlnu6d) Year ended 30 June 2022 15. Analysis of charllable funds Unrestricted funds At Expenditure 30 June 2022 Al 1 July 2021 Incorne General funds 1651 20.682 121,5061 1889} At Expenditure 30 June 2021 Al l July 2020 InC0e 16041 22,486 121,9471 1651 16. An of nel zssels between funds Unreslricled Total Funds Funds 2022 Tangil)le fixed assels Current assets Creditors less than l year Nlet liabilities 184 883 11.9561 18891 184 883 11,9561 18891 un$t[Icted Total Funds Funds 2021 Tangible fixed assets Current assets Creditors less than 1 year Net liabllltles 230 805 11.1001 {65) 230 805 11,1001 165} 17. Related parties During the financial year under review members of the board ol Trustees donated a total of £4,90012021 £2.0001 lo the charity. Rent lolalling £4.50012021 £3,000} was paid by a Trustee 13