COMPANY REGISTRATION NUMBER: N1646256 CHARITY REGISTRATION NUMBER: 107245 Victory Church Belfast Limited Company Limited by Guarantee Unaudited Financial Statements 30 June 2024 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 2024 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 (Incorporating the Director's Report) Year ended 30 June 2024 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 30 June 2024. Reference and administrative details Registered charity name Victory Church Belfast Limited Charity registralion number 107245 Company registration number N1646256 Principal office and registered 243 Castlereagh Road off ice Belfast BT5 5FL The trustees Mr G McKibben Mrs K McKibben Mr S McKibben Independent examiner John Magee - Aubrey Campbell & Co 631 Lisburn Road Belfast BT9 7GT Structureg governance and management The governance and management of Victory Church Belfast is made up of Trustees, Pasiors and Elders. All decisions regarding church affairs and how church funds are spent is handled by Elders. Objectives and activltles Victory Church Belfast continues to exisl to glorify God, preach the gospel to every person and make a difference in our community . There was no harm flowing from Ihe charities purposes and there was no private benefit. All Trustees of the charity are aware of the Commissions public benefit statutory guideline requirement. Sirateglc report The following sections for achievements and performance and financial review form the strategic report of the charity.
Victory Church Belfast Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continued) Year ended 30 June 2024 Achlevements and performance Connect ministry: Victory Church Belfast, on a weekly basis, stands on the Castlereagh Road with refreshments for the public. We use this as an opportunity to encourage the local community to pray and care for anyone who needs it. Homeless: Members of the church go out onto the streets of Belfast with care packages and food. We seek to listen, care for and positively impact the homeless community in Belfast. Street ministry: We have three groups on a weekly basis sharing the love of the gospel ori the streets of Belfasl, both with scripture and in practical terms such as referrals to food banks etc. Childrens ministry: The childrens ministry has included not just a Sunday school for primary age children. but also events, parties and a summer scheme and an Easter scheme. The summer scheme and youth summer activities include guests coming in and outings with the children. At Christmas, a toy drive is held which reached 74 children. Food: The food store has fed many families throughout the year. With an average of around 20 individuals having recieved food parcels on a weekly basis. The demand for the food store has been steady with increased demand hitting at certain times of the year, specifically in the winter months and Christmas. Families: We have also held family events including quiz nights, Molhers, Day and Fathers, Day events and Christmas celebrations which are all open to the community. There are also ladie's and men's social nights to encourage *riendships and connections. Workshops: We have begun craft workshops for the community and we also serviced a lot of families with a Christmas workshop. Online: Pastor Gary personally taught over 220 hours of bible teaching online in this period with over 300.000 people watching these ieachings. Victory Church online Facebook group now has over 7.200 members around the world tuning in regularly for teachings. As well as over 5,200 subscribers across YouTube and Rumble. Youth: Victory Youth has been a real blessing to the surrounding area, especially for those children where their own churches have ceased their youth club. The youth club allows for bible teaching in a fun and friendly atmosphere. This allows those from ages 10-17 to relax wilh their friends and play pool, video games and table tennis. Homeless follow up: The ministry has allowed for active support including helping individuals get into rehab. We raised items and care bags for each individual we speak with. We helped the local homeless community with goods and reconditioned white goods. We have also facilitated individuals transporting their items.
Victory Church Belfast Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (contlnued) Year ended 30 June 2024 Bible study.. Bible stijdy occurs each Wednesday at 7.00pm where we instruLt and tutor people in the discernment and division of scripture. There is also a ladies Bible stLidJi is on Wednesday mornings at 11.'30am. Mentoring: The church provides mentoring in leadership and biblical teaching every Tuesday evening. House Groups: Victory church began to train individuals in house church leadership. We now have house groups in Portadown. Belfast, Wales and U.S.A with 15 more launching around Europe. Prophecy Teaching: The church has hosted 2 nights to other ministries this year, allowing members from other gatherings to partake in in-depth teaching. Testimoney Evenings: We have invited guests to speak at the church to impart their testimonies for the encouragement of others. Missioris". Victory Church Belfast has continued to support Answers International roy Brewer ministry in their fight against human trafficking. Baptisms, Dedications & Services.. We baptised multiple individuals Ihroughout the year, baby dedications and funeral services were also conducted. Church Minibus: The minibus has been essential for outreach. Allowing us to hand out donated items of clothing and food on a weekly basis. It has also proven to be invaluable as a place of prayer and comfort for those exposed lo the elements while they are fed and prayed for. On top of thal, it has allowed us to collect and drop off for youth and services. Chrisiian Counselling: The pastoral team have been involved continually in pastoring ancl counselling individuals through numerous issues. Flnancial review The biggest outgoing this year was lor the ministry minibus. This has allowed for foodbank deliveries to be done as well as iacilitating our youth and homeless street church. We have had doorstep churchldeliveries supplying essentials to those iri need. This has been sustained by the generous giving Irom the members of the congregation. Buildiiig costs have increased with insurance this year and are set to increase in the year ahead, with a new lease and increased rent for the property by our landlord. We have continued in our efforts to support TBM as missions support in the fight against trafficking and also increased our street and community presence. The needs of the church have been met by donations from members including that of the toodbankjfood store.
Victory Church Belfast Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (contlnued) Year ended 30 June 2024 The trustees, annual report and the strategic report were approved on on behalf of the board of trustees by: 141.3J2S and signed Mr G McKibben Trustee Mrs K McKibben Trustee
Victory Church Belfast Limited Company Limited by Guarantee Independent Examiner's Report to the Trustees of Victory Church Belfast Limited Year ended 30 June 2024 I report to the trustees on my examination of the financial statements of Victory Church Belfast Limited ('the charity,) for the year en.ded 30 June 2024. Responsibilities and basis of report As the trustees of the company (and also its directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of Charities Act (Northern Ireland} 2008 (the '2008 Act,) and the Companies Act 2006 ('Ihe 2006 Act,). You are satisfied that the accounts of the company are nol required by charity or company law to be audited and have chosen instead to have an independent examination. Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial slatements as carried oul under section 65 of the 2008 Act. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 65191{b) of the 2008 Act. Independent examiner's statement I have completed my exarytination. I confirm that no matters have come to 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 statements do not accord with Ihose records. or the financial statements do not comply with the accounting requiremenls of section 396 of the 2006 Act OTher than any requirement that the accounts give a 'irue and fair, view which is not a matter considered as part of an independent examination. or the financial staiements have not been prepared in accordance with the meihods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I confirm that there are no Other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached. oh Aubrey mpbell & Co Independent Exaininer ag 631 Lisburn Road Belfast BT9 7GT
Victory Church Belfast Limited Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 30 June 2024 2024 Unrestricted funds Total funds Total funds 2023 Note Income and endowments Donations and legacies Total income 34,029 34,029 22,304 22,304 34,029 34,029 Expenditure Expenditure on charitable activities Total expendlture 23,559 23,559 20,684 20,684 23,559 23,559 Net income and nei movement in funds 10,470 10.470 1,620 Reconciliation of funds Total lunds broughl forward Total tunds carried forward 731 731 {889} 731 11,201 11,201 The statement ot financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 8 to 14 form part of these financial statements.
Victory Church Belfast Limited Company Limited by Guarantee Statement of Financial Position 30 June 2024 2024 2023 Note Fixed assets Tangible fixed assets 13 6.118 147 Current assets Cash al bank and in hand 7,273 1,643 Creditors: amounls falling due within one year Net current assets 14 2,190 1,059 5,083 11.201 584 Total assets less current liabilities 731 Net assets 11,201 731 Funds of the charity Unrestricted funds 11,201 11,201 731 Total charity funds 15 731 For the year ending 30 June 2024 the charity was enlitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476: The directors acknowledge Iheir responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. inancial statements were approved by the board of trustees and authorised for issue on and are signed on behalf of the board by: Mr G McKibben Trustee Mrs K McKibben Trustee The notes on pages 8 to 14 fomi part of these financial slatements.
Victory Church Belfast Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 30 June 2024 General inlormalion The charity is a public benefit entily and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address ol the registered office is 243 Castlereagh 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 Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (Charities SORP (FRS 102}} and the Companies Act 2006. Accounting policies Basis of preparatlon The financial statements have been prepared on the historical cost basis. as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about tb.e charity's ability to continue. Disclosure exemptions The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.{a) No cash flow statement has been presented for the company. {b} Disclosures in respect of financial instruinents have not been presented. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates 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 future events that are believed to be reasonable under the circumstances. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Victory Church Belfast Limited Company Limited by Guarantee Notes to the Financial Statements (conllnued) Year ended 30 June 2024 Accounting policies (continued) Incoming resources All incoming resources are included in the statement of financial aclivities when enlitlement has passed to the charity- it is probable that the econo.1¢ benefits associated with the transaction will flow to Ihe charity and ihe amount can be reliably measured. The lollowing specific policies are applied to particular categories of income: income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and seNices are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it lo be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the staiement of financial activities to which it relates- expenditure on rdising funds includes the costs of all fundraising activities, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking aclivities that lurther its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date 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 (continuEd) Year ended 30 June 2024 Accounting policies (contlnued) Tangible assets (contlnued) An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment thai has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over Ihe useful economic life of that asset as follows: Fixtures and fittings Motor vehicles 200/0 reducing balance 200/0 reducing balance Impairment of fixed assets A review for indicators ol impairment is carried out at each reporting date, with the recoverable amount being estimated where Suc, indicators exisl. Where the carrying value exceeds Ihe recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing. when it is not possible to estimate the recoverable amount of an individual asset. an estimate is made of the recoverable amount of the cash- generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the assel and generates cash inflows that largely independent of the cash inflows from other assets or groups ol assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination. irrespective of whether other assets or liabilities of the charity are assigned to those units. Flnanclal Insiruments A linancial asset or a financial liability is recognised only when the charity becomes a party to Ihe contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. 10
Victory Church Belfast Limited Company Limited by Guarantee Notes to the Financial Statements (¢ontlnued) Year ended 30 June 2024 Accounting polieies (Contlnued) Financial instruments (contlnued) Where investmenls in shares are publicly traded or tFieir fair value can othewise be measured reliably, the investment is subsequently ,eaSured at fair value with changes in fair value recognised in income and expenditure. All other such investments ale subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities: with the exception of hedging instruments in a designated hedging relationship. Financial assets Ihat are measured at cost or amortised cost are reviewed for objective evidence impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the inilial gain was recognised. For all equity inslruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characterislics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial assp.T that exceeds whal the carrying amount woula have been had the impairment not previousl5.' Deen recognised. Limited by guarantee The Company is limited by guarantee and has no share capital. Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Donations and offerings 34,029 34,029 22,304 22,304 11
Victory Church Belfast Limited Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 30 June 2024 Expenditure on charitable aciivilies by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Sunday School Support costs 198 23,361 23,559 198 23,361 2,902 17,782 2,902 17,782 20,684 23,559 20,684 Expenditure on charitable activities by activity type Activities undertaken directly Support costs Total lunds 2024 Total fund 2023 Sunday School Governance costs 198 21,275 2,086 21,473 2,086 19,821 863 198 23.361 23.559 20,684 Analysis of support costs Analysis of support costs Total 2024 Total 2023 Premises Governance costs Support costs - Other costs 12,917 990 2,287 16,194 1£,917 990 2,287 16.194 13,027 750 4,005 17,782 Net income Net income is stated after "hargingl(creditingl: 2024 2023 Depreciation of tangible fixed assets 1,529 37 10. Independent examination fees 2024 2023 Fees payable to tha independent examiner for: Independent exa..InatiOn of the finanla1 statements 990 750 11. Staff costs 12
Victory Church Belfast Limited Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 30 June 2024 11. Staff costs (continued) Pastor Gary McKibben. a Trustee, was paid £Nil for his services as Pastor of Victory Church Belfast Limited. Pastor McKibben is self-employed. The average head count of employees during the year was Nil12023: Nil). No employee received employee benefits of more than £60,000 during the year12023: Nil). 12. Trustee remuneration and expenses Pastor Gary McKibben, a Trustee, was paid £Nil for his services as Pastor of Victory Church Belfast Limited. Pastor McKibben is self-employed. 13. Tangible fixed assets Fixtures and fittings Motoff vehicles Totsl Cost At 1 July 2023 Additions 450 450 7,500 7,950 7,500 At 30 June 2024 450 7.500 Depreciation At 1 July 2023 Charge for the year At 30 June 2024 303 29 303 1,529 1,832 1,500 1,500 332 Carrylng amount At 30 June 2024 118 6,000 6,118 147 At 30 June 2023 147 14. Creditors: amounts falling due within one year 2024 2023 Accruals and deferred income 2,190 1,059 13
Victory Church Belfast Limited Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 30 June 2024 15. Analysis of charitable funds Unrestricled funds Al Income Expenditure 30 June 2024 At 1 July 2023 General funds 731 34,029 (23,559) 11,201 At Income Expenditure 30 June 2023 At 1 July 2022 General funds (889) 22.304 (20,684) 731 16. Analysis of nel assets between funds Unrestricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Net assets 6,118 7,273 {2,190) 11,201 6.118 7,273 {2,190) 11.201 Unrestricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net assets 147 1,643 (1,059} 731 147 1,643 (1 ,0591 731 17. Related parties During the financial year under review members of the board of Trustees donated a total of £1,800 (2023 £1,800) to the charity. Rent totalling £8,50012022 £9,300) was paid to a Trustee for use of the church premises. 14