BELFAST CITY CENTRE CHAPLAINCY A COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestrleted Restrlcted funds funds 2023 2023 Total Total Restricted funds 2022 Total 2023 2022 2022 Income from: Donations and legacies 24.139 (500) 23.639 21,644 500 22.144 endlturo Charitable activities 21,807 21,807 15.656 15,656 Net Incomel(exponditurg) for the yearl Net movement in fund¥ 2.332 151JO) 1,832 5,988 500 6,488 Fund balances at 1 January 2023 6,102 500 6,602 114 114 Fund balances at 31 December 2023 8N34 6,102 500 6,602 The statement of financial adivities indudes all gains and losses recognised in the year. All inc¥)me and expenditure derive from continuing activities. The statement of financxal activities a150 complies with the requirements for an income and expenditure account under the Companies Act 2006. BELFAST CITY CENTRE CHAPLAINCY A COMPANY LIMITED BY GUARANTEE BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Fixed assets Tangible assets 830 1,239 Current assets Cash at bank and in hand 8.531 5,663 CredltOV8: amounts falling due wlthln one year 927 300 Net current assets 7,604 Totsl a8sets les8 cunont IlablllUe8 8.434 6,602 Tho fund8 of the charlty Restrided income funds Unrestrided funds io 500 6.102 8.434 8,434 6,602 The company is entitfed to the exemption from the audft requirement contained in se(*ion 477 of the Companies Act 2006, for the year ended 310ecember 2023. The directors acknowledge their responsibilities for complying with the requirements of the Companles Act 2006 with respect lo accounting records and Ihe preparation of financial statements. The members have not required the company to obtain an audit of its finan(#al statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicgble to companies subject to the small companies regime. The financial statements were approved by the trustees on ... Rev D A Campton Trusts8 Company registration number N1665287 {Northern Ireland) BELFAST CITY CENTRE CHAPLAINCY A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollclès Charity information Belfast City cent￿ Chaplaincy is a private company limiied by guarantee incorporated in Northem Ireland. The registered office is 5 Glengall Street, Belfasl. BT12 SAD. 1.1 Accounllng ¢onv8ntlon The financÈal ststements have been prepared in accordance with the charitys Memorandum and Articles of Association incorporated on 22 October 2019, the Companies Act 2006 and 'AcLounting and Reportlng by Charities". Staternent of Recommended Practi￿ applicable lo charitses preparin9 their accounts in acGordance with the Finanaal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Publlc Benefft Entity as defined by FRS 102. The charity has tsken advantage of the provisions in the SORP for tharilies applying FRS 102 Update Bulletin 1 not to prepare a Ststement of Cash Flows. The financial statements are prepared in sterling, which is the functlonal currency of th8 charity. Monetary amounts in these finandal statements are rounded to the nearest £. The financial statements have been prepared under Ihe historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the finanaal statements, the Irustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial ststements. 1.3 Charltable funds Unrestricted funds are available for use at the dIs￿ellOn of the trustees in furtherance of their charitable objectives. 1.4 Income Income is ￿CogniSed when the charity is legaly entiued to it after any perforniance conditlons have been met, the amounts can be measured reliably, arKI it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the chanty has been notified of the donation, unless perfonnance conditions Tequire deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receim or otheTh¥ise rf the charity has been notified of an impending distribution, the arnounl is known, and receipt is expected. If the amount is not known. the legacy is treated as contingent asset. BELFAST CITY CENTRE CHAPLAINCY A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng policios (Contlnuedl 1.5 ExpendltUTe Expendilure is recognised on an acc￿alS basis as a liability is incurred. Expenditure indudes any VAT which cannot be fully recovered, and is dassified under headings of the statement of financial activities to which il relates.. expenditure on Taising fvnds inrAudes the costs of all fundraising activities. events, non-charitable trading adivities, and Ihe sale of donated goods. expenditure on charitabEe activities includes all costs incufred by a ¢harity in undertaking activities that further rts charitable aims for the benefft of its beneficiaries. induding those support costs and costs relating io the governance of the charity apportioned to charitable activities. other expenditure indudes all expendilure that is neither related to raising funds for the charity nor part of its expenditure on charitsble activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attribulable to a single activity are allocated directly lo that adiw. Shared costs are apportioned between the activitie$ they contribute to on a reasonable, justifiable and consistent basis. 1.6 T•nglble fixed asset• Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depr8cialion is recognised 50 as to write off the cost or valuation of assets less thelr resldual values over their useful lives on the following bases: Fixtures and fitting8 Computers 200A 200A The gain or loss arising on the disposal of an asset is detemiined as the difference between the sale proceeds and the rATrylng value of the asset, and is recognised in the statement of finanual activities. 1.7 Impalrment of fix•d o*Mts At each reporting end date, the charty reviews the carying amounts of its tsngible assets to determine whether there is any indication that those assets have suffered an impaimient loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 1.8 Cash and cash equivalents Cash and cash equivalents indude cash in hand. deposits held at call with banks, other short-temi liquld Investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts afe shawn within borrowings ir* current liabilities. Baslc flnanclal assets Basic financial assets, which indude debtors and cash and bank balances, are initially measured at transaction pri￿ including transaction costs and are subsequently carTied at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. where the transaction is measured at the present value of the hjture receipts discounled at a market rate of interest. Financial assets classified as reoivable within one year are not amortised. 10- BELFAST CITY CENTRE CHAPLAINCY A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng policles (ConlSnued) Baslc financial liabilities Basic financial liabilities, induding creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debl instrument is measured at the present value of the fvlure payments discounted at a market rate of interest. Finanoal liabilities dassffied as payable within one year are not amortised. Debt instruments are subsequendy carried at amortised cost. using the effective interest rate method. Trade creditors are obligations to pay for goods or semces that have been acquired in the ordinary course of operations from suppliers. Amounts payable are dassified as current liabilities rf payment is due within one year or less. If not, they are presented as non-current liabiltties. Trade cxeditors a￿ recognised initially at transaction price and subsequenljy measured at amortised cost using the effective inlerest method. Derecognition of flnanclal Ikbllliles Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. Crltlcal accountlng ostlmates and Judgements In the application of the charitys accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and Ilaljlities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and undetying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is rebrysed where the revision affects only that period, or in the perlod of th8 r8vision and futuT8 periods Whe￿ the revision affects both current and future periods. Donatlons and legacleg Unrnstrlctsd Rostrfctsd funds funds Total Unrestricted Restricted funds funds Total 2023 2023 2023 2022 2022 2022 Donation5 and gffts Grants received 5,096 19.043 5.096 18.543 4,724 16.920 4,724 17,420 1500) 500 24,139 Isoo) 23,639 21.644 500 22,144 11 BELFAST CITY CENTRE CHAPLAINCY A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Charftable acllvltles Charitable Charltable Expendlture Expendlturn 2023 2022 Computer running costs Bank charges Printing and stationery Clothing costs Staff training Telephone Insurance AGcounlancy Wages and salarles Sundry Depredation 32 97 1.567 1,013 1,958 798 4SO 47 249 732 1,049 233 220 I I 300 13,526 1,656 410 420 11,463 307 310 21,807 15,658 21.807 15,658 Trustses None of the Irustees (or any persons connected wlth them) recelved any remuneration or beneffts from the chaflty during the year. Employee8 The average monthty number of employees during the year was: 2023 Numbèr 2022 Number There were no employees whose annual remuneralion was more than £80,000. Remunerallon of key management personnel Key management personnel comprises the trustees who are not remunerated. Taxatlon The charity is exempt frorn tsxalion on ils aclivitses because all its income is applied for charttable purpose5. 12- BELFAST CITY CENTRE CHAPLAINCY A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Tanglble fixed assèts Flxlures •nd ffttlngs Comput•rs Total Cost At 1 January 2023 401 1.147 1,548 At 31 December 2023 401 1,147 1,548 Depreclatlon ond Impalrnient At 1 January 2023 Depreciation charged in the year 80 180 229 229 309 409 At 31 December 2023 260 458 718 Carylng amount At 31 December 2023 141 689 830 At 31 December 2022 321 918 1,239 Credltors: amounts falllng du¢ wlthln one yoar 2023 2022 Trade creditors Accruals and deferr8d income 626 301 300 927 300 10 R•8trlctsd funds The restricted funds of the charity comprise the unexpended balance5 of donations and grants held on trust subject lo specific conditions by donors as to how they may be used. At 1 January 2023 Incoming resources At31 December 2023 500 1500) Previous year. At 1 January 2022 Incoming resource• At31 Decomber 2022 500 500 13- BELFAST CITY CENTRE CHAPLAINCY A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 11 Unrestrlctsd funds The unrestricied funds of the chanty comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specAfic purposes. At 1 January 2023 Incoming resources Resources expended At31 D•cember 2023 General fvnds 6.102 24.139 121.807) 8.434 Prnvlou8 year. At 1 January 2022 In¢omlng our¢e8 Rasourc•8 •xp•nded At31 Docomber 2022 General funds 114 21.644 {15,656) 6,102 12 Analy81s of net as•ets between funds Unrestrlcted funds 2023 Restrlcted lundg 2023 Total 2023 Fund balancos at 31 De¢omhr 2023 are rnpm•nted by: Tangible assets Current assetsl(liabilities) 830 7,604 830 7.604 8,434 8,434 Unr8strlctod funds 2022 Restrlcted funds 2022 Total 2022 Fund balances at 31 December 2022 •rn reprejeirted by: Tangible assets Current assetsl(liabilities) 1,239 4,863 1,239 5,363 500 6,102 500 8,602 13 Related party transactlon• There were no di5dosable related parly transaclions during the year (2022 - none). 14-