Strandtown Baptist Church Statement of Financial Activities Year ended 31 December 2022 2022 Restricted funds Total funds Total funds 2021 Unr8strict8d funds Note Income and endowments Donations and legacies Charitable activities Investment income 276.239 5,472 25,085 301,324 5,472 263,436 2.041 108 Total Income 281,711 25,085 308,796 265,585 Expenditure Expenditure on charitable activities Total expenditure 272.678 272.678 18,465 18,465 291.143 228,517 291.143 228.517 Net Income and net movement In funds 9,033 6,620 15,653 37.068 Reconciliation of funds Total funds brought fomard Total funds carried forward 172.437 181,470 3,000 9.620 175.437 138,369 191.090 175,437 The statem&nt of financial activities includes all gains and losses recognised in tt)e year. All income and expenditur& derive from continuing activities. The note5 on pages 6 to 12 form part of these financial statements. Strandtown Baptist Church Statement of Financial Position 31 December 2022 2022 2021 Note Current assets Debtors Cash at bank and in hand 12 52,795 146,484 199,279 44,104 132,833 176,937 Creditors: amounts falling due within one year Net current assets 13 8.189 1.500 191,090 175,437 Total assets less current liabilities 191,090 191,090 175,437 Net assets 175,437 Funds of the charity Restricted funds Unrestricted funds 9.620 181,470 3,000 172,437 175,437 Total charity funds 14 191,090 These financial statements were approved by the board of trustees and authorised for issue on 23rd October 2023, and are signed on behalf of the board by: J Hatvey Trustee L Campbell Trustee The notes on pages 6 to 12 form part of these financial statements. Strandtown Baptist Church Notes to the Financial Statements Year ended 31 December 2022 General information The charity is a public benefit entity and a registered charity in Northem Ireland and is unincorporated. The address of the principal office is Strandtown Baptist Church. I Clonallon Court, Belfast, BT4 2AB, Northern Ireland. Slatement of compllanGe Thase financial statements hava 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 1021) and the Charities Act (Northern Ireland) 2008. Accounting policies Basis of preparation 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 ststements are prepared in sterling, which is the functional currency of the entity- Golng Concem There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estlmation uncertainty The preparation of the financial slatements 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 expectstions of future events that are believed to be reasonable under the circumstances. Fund accounting Unrestrict8d funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds aamiarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure d8clared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds, Strandtown Baptist Church Notes to the Financial Statements (¢onllnued) Year ended 31 December 2022 Accounting policles (Gontinuedj Incomlng resources All incoming resources are included in the statement of financial activities when entillement has passed to the charity- il is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specifi¢ policies are applied to particular categories of income- income from donations or grants is recogni5ed when there is evidence of entillement to the gift, receipt is probablè and ils amount can be measured reliably. legacy income is ￿cOgniSed when receipt is probable and entillement 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 ihe donor or the estimated rgsale value. Donated facililies and servicas 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 seryices is recognised with the delivery of the contracted serwce. This is classified as unrestricted funds unless there is a contractual requirement for it to 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 ststement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities. events. non-charitable trading aclivilies, and the sale of donated goods. expenditure on charitable activities includes all Costs incurred by a chatity in undertaking activities thal further 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 r8lated lo raising funds for the charity nor part of ils expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resour¢e. Direct costs attributable lo 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. Flnanclal Instruments A financial 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. Strandtown Baptist Church Notes to the Financial Statements feontinu•dJ Year ended 31 December 2022 Accounting policies (contInu￿j Financial instruments (continued) Current assets and current liabilitiès are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Débt instrumenls are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value Can otherwise be measured reliably. the investment is subsequenlly measured at fair value with changes in fair value recognised in income and expenditure. All other such investments a￿ 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 nomial business terms or financed at a rate of interest that is not 8 market rate. in which case the asset Is measured at Ihe present value of the future payments discounted at a market rale 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 éxception of hedging instruments in designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impaiment 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 initial gain was recognised. For all equity instruments 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 characteristics. Any reversals of impaim)ent are re¢ognised immediately. to the extent that the reversal does not result in a carrying amount of the financial asset that exceed5 what the carrying amount would have been had the impaimienl not previously been recognised. Donatlons and legacies Unreslricled Funds Restricted Total Funds Funds 2022 Donations Donations Gift Aid 223,444 52,795 25,085 248,529 52.795 276.239 25,085 301,324 strandtown Baptist Church Notes to the Financial Statements (contlnuedj Year ended 31 December 2022 Donation5 and legacles (continued) Unrestricted Funds Restrided Total Funds Funds 2021 Donatlons Donations Gift Aid 216,987 44,104 2,345 219,332 44,104 261,091 2,345 263,436 Charitable activities Unrestrfctad Total Funds Unr8slricted Total Funds Funds 2022 Funds 2021 Events 5,472 5.472 2,041 2,041 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2022 Funds 2021 Bank Interest 108 108 Expondlture on ¢harltable actlvlties by fund type Unrestricted Funds Restricted Total Funds Funds 2022 Church activity Support Costs 271.178 1,500 18.465 289,643 1.500 272,678 18,465 291,143 Unrestricted Funds Restricted Totsl Funds Funds 2021 Church activity Support costs 224,672 1.500 2.345 227,017 1,500 228,517 226.172 2,345 Strandtown Baptist Church Notes to the Financial Statements (¢ontlnuedJ Year ended 31 December 2022 Expendlture on charltable actlvltles by activity type Activities undertaken directly Support costs Total funds 2022 Total fund 2021 Church activity Governance costs 289,643 289,643 1.500 291.143 227,017 1,500 1,500 289.643 1,500 228,517 Independent examination fees 2022 2021 Fees payable to the independent examiner for.. Independent examination of the financial statements 1,500 1,500 10. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows: 2022 2021 Wages and salaries 148.935 142,078 The average head count of èmployees during the year was 6 {2021- 6). No employee received employee benefits of more than £60.000 during the year (2021- Nil). 11. Trustee remuneration and expenses Three Trustees. Lee Campbell, Michael Shaw and Jennifer Harvey. were in receipt of remuneration during the year with respect to their roles as Pastor, Assistant Pastor and office administrator respectively. Total remuneration paid was £71.738 and pension contributions of £2.870 were made by the charity. No Iruslees received remuneration for their role as a trustee. 12. Debtors 2022 2021 Other debtors 52.795 44.104 13. Greditors: amounts falling due within one year 2022 2021 Accruals and deferred income Social security and other taxes 3.000 5,189 1,500 8,189 1.500 10 Strandtown Baptist Church Notes to the Financial Statements (conllnued) Year ended 31 December 2022 14. Analysis of charitable funds Unrestricted funds At31 December 2022 At1 January 2022 Income Expenditure General Funds 172.437 281.711 (272.678) 181,470 At31 December 2021 At1 January 2021 Income Expenditure General Funds 135,369 263.240 (226,1721 172,437 Restricted funds At31 December 2022 At1 January 2022 Income Expenditure Children's Worker Comber Baptist Relief fund Ukraine 3.000 11,105 19,580) 4,525 5.095 8.885 5,095 (8,885) (18,465) 3.000 25,085 9,620 At31 December 2021 At1 January 2021 Income Expen(Jiture Children's Worker Comber Baplist Relief fund Ukraine 3,000 3.000 2,345 {2,345} 3.000 2,345 {2,3451 3.000 11 Strandtown Baptist Church Notes to the Financial Statements {continuedJ Year ended 31 December 2022 15. Analysis of net assets between funds Unrestricted Funds Restrtcted Total Funds Funds 2022 Current assets Creditors less Ihan 1 year Net assets 189,659 (8.189) 181.470 9.620 199.279 (8,189) 191,090 9,620 Unrestricted Funds Restricted Total Funds Funds 2021 Current assets Creditors less than 1 year Net assets 173,937 11,500) 172.437 3,000 176.937 11.500) 175.437 3.000 12