BELFAST CITY CENTRE CHAPLAINCY A COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Unrestricted Restricted funds funds funds 2024 2023 2023 Total 2023 Notes Income from: Donations and legacies 27,910 24,139 1500) 23,639 enditure on: Charilable activities 35.149 21,807 21,807 Net lexpenditurellincome forthe yearl Net movement in funds (7.239} 2,332 1500) 1,832 Fund balances at 1 January 2024 8,434 6,102 500 6,602 Fund balances at 31 December 2024 1,195 8,434 8,434 The slatement of financial activities indudes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The stalemenl of financial activities also complies V￿th the requirements for an income and expenditure accounl under the Companies Act 2006. BELFAST CITY CENTRE CHAPLAINCY A COMPANY LIMITED BY GUARANTEE BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes Fixed assets Tangible assets 519 830 Current assets Cash at bank and in hand 1.703 8,531 Creditors: amounts falling due within one year (1.027 (9271 Net current assets 676 7,604 Total assets less current liabilities 1.195 8.434 Net assets 1.195 8,434 The funds of the Charity Unrestricted funds 1,195 8,434 1,195 8,434 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006. for the year ended 31 December 2024. The directors acknowledge their responsibilities for complying wilh Ihe requiremenls of the Companies Acl 2006 with respect to accounting records and the preparation of financial statements. The members have nol required the company to obtain an audit of tls financial statements for the year in question in accordance with section 476. The financial statements were approved by the trustees on 26 June 2025 Rev D A Campton Company registration number N1665287 (Northem Ireland) BELFAST CITY CENTRE CHAPLAINCY A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies Charity infonnation Belfast City Centre Chaplaincy is a private company limited by guarantee incorporated in Northem Ireland. The registered office is 5 Glengall Street, Belfast, BT12 SAD. 1.1 Accounting convention The financial slatemenls have been prepa￿d in accordance wtth Ihe Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to chartties preparing their accounts in accordance with the Finanual Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entty as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling. which is the functional currency of the charity. Monetary amounts in these financial ststements are rounded to the nearest £. 1.2 Going concern Al Ihe lime of approving the financial slatements. the trustees have a reasonable expeclation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue lo adopl the going concem basis of accounting in preparing the financial slatements. 1.3 Charitable funds Unreslricled funds are available for use at the discretion of the trustees in fvrtherance of their charitable objectives. 1.4 Income Income is recognised when the charity is legally entitled to tl afler any perfomiance condition5 have been met, the amounts can be measured reliabty, and it is probable that income will be re￿Ived. Cash donations are recognised on receipt. Other donations are recognised once the charity has been nolified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at Ihe lime of Ihe donation. Legacies are recognised on receipt or otherwise rf the charity has been nottfied of an impending distribution, the amounl is known, and re￿Ipt is expected. If the amount is nol known, the legacy is trealed as a contingent asset. BELFAST CITY CENTRE CHAPLAINCY A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (Continued) 1.5 Expenditure Expenditure is recognised on an accruals basis as a liability is incurred. Expendilure includes any VAT which cannot be fully recovered. and is classffied under headings of the statement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activilies, events, non-charilable 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 benefft of its beneficiaries. including those sUPPOrt costs and costs relating lo the govemance of the charity apportioned to charilable activities. other expenditure includes all expendtture that is neither related to raising funds for the charity nor part of lis expenditure on charitable activities. All costs are allocated to expendiiure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocaled directly to that activity. Shared costs are apportioned be￿een Ihe activities they contribute to on a reasonable. justifiable and consistent basis. 1.6 Tangible fixed assets Tangible fixed assets are initialty measured at cost and subsequently measured at cost or valuation, net of depreciation and any impaimient losses. Deprecialion is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Fixtures and ffttings Computers 20¥0 Straight line 200A Straight line The gain or loss arising on the disposal of an asset is detennined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Impainnent of fixed assets At each reporting end date. the charity reviews the carrying amounts of its tangible assets to detemiine whether there is any indication that those assets have suffered an impaimienl loss. If any such indication exists, the recoverable amount of the asset is estimated in order to detemine the exlent of the impaimient loss {rf any). 1.8 Cash and Cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid inveslments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Basic financial assets Basic financial assets, which indude debtors and cash and bank balan￿$, are initialty measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the a￿angement constitutes a financing transaction, where the transaction is measured al the present value of the fvture re￿iptS discounted at a market rate of inlerest. Financial assels classified as receivable 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 2024 Accounting policies (Continued) Basic financial liabilities Basic financial liabilities, including credf(ors and bank loans are initially recognised al transaclion price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rale of interest. Financial liabilities classified as payable within one year are not amortised. Debt inslrumenls are subsequentty carried al amortised cost, using the effective interesl rate method. Trade creditors are obligations to pay ft)r goods or services Ihat have been acquired in the ordinary course of operalions from suppliers. Amounls payable are dasstfied as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured al amortised cost using the effective interest melhod. Derecognition of financial liabilities Financial liabilities are derecogni5ed when the charity's contractual obligations expire or are discharged or cancelled. Critical accounting estimates and judgements In the application of the charity's accounting policies. the trustees are required to make judgements, estimates and assumptions about Ihe carying amount of assets and liabililies that are nol readily apparenl trom olher 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 undertying assumptions are reviewed on an ongoing basis. Revisions to accounting eslimates are recognised in the period in which the estimate is revised where Ihe revision affecls only thal period, or in the period of the revision and future periods where the revision affects both current and future periods. Donations and legacies Unrestricted Unrestricted funds funds Restricted funds Total 2024 2023 2023 2023 Donations and gifts Grants received 11.030 16,880 5.096 19.043 5,096 18,543 1500) 27,910 24,139 1500) 23,639 11 BELFAST CITY CENTRE CHAPLAINCY A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Charitable activities Charitable Charitable Expenditure Expenditure 2024 2023 Compuler running costs Bank charges Printing and stationery Clothing costs Staff training Telephone Insurance Accountancy Wages and salaries Sundry Depreciation 10,641 158 259 32 97 1.567 1,013 1,958 798 450 300 13,526 1,656 410 3,060 1,082 254 400 16,181 2,804 310 35.149 21,807 35,149 21,807 Trustees None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. Employees The average monthly number of employees during the yearwas.. 2024 Number 2023 Number There were no employees whose annual remuneration was more than £60,000. Remuneration of key management personnel Key management personnel comprises the trustees who are not remunerated. Taxation The charity is exempt from taxation on its activtlies because all its income is applied for charitable purposes. 12- BELFAST CITY CENTRE CHAPLAINCY A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Tangible fixed assets Flxtures and fSttlngs Computeys Total Cost Al 1 January 2024 401 1,147 1,548 At 31 December 2024 401 1,147 1,548 Depreciation and impairnient At 1 January 2024 Depreciation charged in the year 260 80 459 230 719 310 At 31 December 2024 340 689 1,029 Carrying amount At 31 December 2024 61 458 519 At 31 December 2023 141 689 830 Creditors: amounts falling due within one year 2024 2023 Trade creditors Accruals and deferred income 626 401 626 301 1.027 927 10 Unrestricted funds The unrestricted fvnds of the charity comprise the unexpended balances of donalions and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These indude designated funds which have been sel aside out of unrestricted funds by the truslees for specific purposes. At 1 January 2024 Incoming resources Resources expended At31 December 2024 General funds 8.434 27.910 (35.149) 1.195 Previous year: At 1 January 2023 Incoming resources Resources expended At31 December 2023 General funds 6.102 24,139 (21,8071 8,434 13- BELFAST CITY CENTRE CHAPLAINCY A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 11 Related party transactions There were no disclosable related party Iransaclions during the year (2023 - none). 14-