Strandtown Baptist Church Statement of Financial Activities Year ended 31 December 2023 2023 Restricted funds Total funds Total funds 2022 Unrestricted funds Note Income and endowments Donations and legacies Charitable activities 293,287 14,123 307,410 301,324 5,472 Total income 293,287 14,123 307,410 306,796 Expenditure Expenditure on charitable activities Total expendlture 321,567 14,556 336,123 291,143 291,143 321,567 14,556 336,123 Net (èxpenditure)Ilncome and net movement in funds (28,280) (4331 {28,713) 15.653 Reconciliation of funds Total funds brought forward Total funds Carried forward 181,470 9,620 191,090 175.437 153.190 9,187 162,377 191.090 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 6 to 12 form part of these financial statements. Strandtown Baptist Church statement of Financial Position 31 December 2023 2023 2022 Note Current assets Debtors Cash at bank and in hand 11 53,736 114,508 52,795 146,484 168,244 199.279 Creditors: amounts falllng due within one year Net current assets 12 5.867 8,189 191,090 162,377 Total assets less current Ilabllltles 162.377 191,090 Net assets 162,377 191,090 Funds of the charlty Restricted funds Unrestricted funds 9,187 153,190 9.620 181,470 Total charlty funds 13 162,377 191,090 These financial statements were approved by the board of trustees and authorised for issue on 1 October 2024. and are signed on behalf of the board by= J HaNey 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 2023 General Information The charity is a public benefit entity and a registered charity in Northern Ireland and is unincorporated. The address of the principal office is Strandtown Baptist Church. 1 Clonallon Court, Belfast, BT4 2AB, Northern I￿land. Statement of compliance These financial slatements have been prepared in compliance wilh FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland., the Statement of Recommended Practice applicable lo 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 policles Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by Ihe 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 the charity's ability to continue. Judgemenls 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 expeGtations of future events that are believed to be reasonable under the circumstances. Fund accounting Unrestricled funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unr8Stricted funds earmarked by the trustees for particular future project or commitmenl. 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-Glasses.' restricted income funds or endowment funds. Strandtown Baptist Church Notes to the Financial Statements {wntinu8d) Year ended 31 December 2023 Accountlng policies (continued) Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity., it is probable that the economic benefits associated with the transactiors will flow to the charity and the amount can be reliably measured. The following 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 rec8lPt is probable and entitlement is eslablished. income from donated goods is measured at the fair value of the goods unless this is impractical lo measure reliably, in which case Ihe value is derived from the cost to the donor or the estimated resale value. Donated facilities and services 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 tha contracted service. This is olassified as unrestricled 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 Expendilure is recognised on an accruals basis as a liability is incurred. Expendtture includes any VAT which cannot be fully recovered. and is classified under headings of the statement of financial activities to which it relates.. expenditure on raising 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 activities that 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 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 activily are allocated directly to that activity. Shared costs are apportioned be￿een the activities they contribute to on a reasonable, justifiable and consistent basis. Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially rècognised at the amount re￿1vable or payable including any related transaction costs. Strandtown Baptist Church Notes to the Financial Statements (Gontinued) Year ended 31 December 2023 Accounting policies (continue£l) Flnancial instruments (contlnued) Current asset5 and ¢￿￿ent 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. Where investments in share5 are publicly Irad8d or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in incorne and expenditure. All other such investments are 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 a market rate, in which case the asset is measured at the present valuè 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 slatemenl of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment. an impairment loss is recognised under Ihe 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, thèse 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 impairment are recognised immediately. to the extent that the reversal does not result in a carrying amount of the financial asset Ihat exceeds what the carrying amount would have been had the impairment not previously been recognised. Donations and legacies Unrestricted Funds Restricled Total Funds Fund5 2023 Donations Donations Gift Aid 239.551 53.736 14,123 253,674 53,736 293,287 14.123 307,410 Strandtown Baptist Church Notes to the Financial Statements (contlnuedj Year ended 31 December 2023 Donatlons and legacles (contlnuedj Unrestricted 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 Charitable activltles Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Events 5,472 5,472 Expenditure on charitable activities by fund type Unreslricted Funds Restricted Total Funds Funds 2023 Church activity Support costs 319,889 1,678 14.556 334,445 1.678 321,567 14.556 336.123 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 Expenditure on charitable actlvlties by activity type Activities undertaken directly Support costs Total funds 2023 Total fund 2022 Church adivity Governance costs 334,445 334.445 1,678 289,643 1,500 1,678 334,445 1,678 336,123 291,143 Strandtown Baptist Church Notes to the Financial Statements (continuadj Year ended 31 December 2023 Independent examination fees 2023 2022 Fees payable to the independent examiner for: Indepéndent examination of the financial statements 1,600 1,500 Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows: 2023 2022 Wages and salaries 176,878 148,935 The average head count of employees during the year was 6 (2022: 6). No employee received employee benefits of more than £60,000 during the year12022- Nil). 10. Trustee remuneration and expenses Three Trustees, Lee Campbell. Michael Shaw and Jennifer HaNey, were in receipt of remuneration during the year with respect to their roles as Pastor. Assistant Pastor and office manager respectively. Total remuneration paid was £89.803 and pension contributions of £6.511 were made by the charity. No trustees received remuneration for their role as a trustee. 11. Debtors 2023 2022 Other debtors 53,736 52.795 12. Creditors: amounts falling due within one year 2023 2022 Accruals and deferred income Social security and other tsxes 1,600 4,267 3,000 5,189 5,867 8,189 10 Strandtown Baptist Church Notes to the Financial Statements (contlnued) Year ended 31 December 2023 13. Analysis of charitable funds Unrestricted funds At31 December 2023 At 1 January 2023 Income Expenditure General Funds 181,470 293,287 1321,567) 153.190 At31 December 2022 At 1 January 2022 Income Expenditure General Funds 172.437 281,711 {272.678) 181,470 Restricted funds At31 December 2023 At 1 January 2023 Income Expenditure Children's Worker Relief fund Ukraine Earthquakelwelcome Lebanon 4,525 5.095 14,525) 12,738) 2.357 7,293 6,830 (7,293) 6,830 9,620 14,123 114,5561 9,187 At31 December 2022 At 1 January 2022 Income Expenditura Children's Worker Relief fund Ukraine Earthquakelwelcome Lebanon 3,000 11.105 5,095 8,885 (9,580) 4,525 5,095 (8.885) 3,000 25.085 {18,465) 9,620 11 Strandtown Baptist Church Notes to the Financial Statements (eontinuad) Year ended 31 December 2023 14. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2023 Current assets Creditors less than 1 year Net assets 159,057 (5,867) 153.190 9.187 168,244 (5,867) 162,377 9,187 Unrestricted Funds Restricted Total Funds Funds 2022 Current assets Creditors less than 1 year Net assets 189,659 (8,189) 181,470 9,620 199,279 (8,189} 191.090 9.620 12 Strandtown Baptist Church Management Information Year ended 31 December 2023 The followlng pages do not form part of the flnancial statements. 13 Strandtown Baptist Church Detailed Statement of Financial Activities Year ended 31 December 2023 2023 2022 Income and endowments Donations and legacies Donations Gift Aid 253,674 53,736 248,529 52,795 307,410 301,324 Charllable activlties Events 5,472 Total income 307,410 306,796 Expenditure on charitable actlvitles Church activity Activities undertaken directly Wages and salaries Gifts Mission Guest Speakers Xstream Establishment expenses Church Events Encounter Expenses Bank Fees Stsff Training Miscellaneous expenditure Ukraine Relief Welcome churches Earthquake appeal 176,878 867 68.503 285 4,643 58,852 3,096 8,021 354 1,813 720 148,935 2,320 65,140 200 51,858 1.977 3,998 267 4,119 804 10,025 2,738 3,800 3,875 334,445 289,643 Governance costs Governance costs - accountancy fees 1,678 1.500 Expenditure on charitable actlvitles 336.123 291,143 Net (expenditure)Ilncome {28,713) 15,653 14