REGISTERED CHARITY NUMBER: 108322 Report of the Trustees and Financial Statements for the Year Ended 31 December 2023 for Portstewart Baptist Church Mccleary & Company Ltd Chartered Accountants and Registered Auditors Garv¢y Sd10s 14 Longstone Strect Lisburn Co. Antrim BT28 ITP
Portstewart Baptist Church Contents of the Financial Statements for the Year Ended 31 December 2023 Page Report of the Trustees Report of the Independent Auditors Statement of Financial Activities Balance Sheet 10 Cash Flow Statement Notes to the Cash Flow Statement 12 INotes to the Financial Statements 13 to 21 Detailed Statement of Financial Activities 22 to 23
Portstewart Baptist Church Report of the Trustees for the Year Ended 31 December 2023 The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The tNstees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practic¢ applicable to charities preparing their accounts in accordance with the Financial Reporting Standatd applicable in the UK and R¢public of Ireland (FRS 102) (¢ff¢ctive l January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims Portstewart Baptist Church ("the Church") acknowledges the headship of Jesus Christ over his Church and exists to glorify the triune God by maintaining and promoting His worship both individually and COOratelY. The principal charitable object of the Church is the advancement of the Christian faith according to the teaching of scripture, understood in its historical and evangelical sens¢, the Doctrinal Statement and Baptist principles. Its members d¢vote themselves to the teaching of scripture, to fellowship, breaking of bread, prayer and evangelism. The activities carried out by the Church include: * holding regular services for public worship, prayeT, Bible study, preaching and teaching for all age groups. providing pastoral car¢ to the members of the church through visitation and prayer- organising meetings and events that promote our charitable purpose- participating in the life of the local community. supporting other Christian organisations and charities tbrough volunteering, financial gifts and prayer. The trustees have paid due regard to guidance issued by the Charity Commission of Northern Ireland in deciding what activities the church should undertake Page I
Portstewart Baptist Church Report of the Trustees for the Year Ended 31 December 2023 OBJECTtVES AND ACTIVITIES Achievements and performance The Church meets the public benefit requirement by providing benefit to its members and the general public by making known the Christian gosp¢l of the Lord Jesus Christ tIough the advancement of th¢ Christian faith. Sunda Services We hold 2 services each Sunday, with an average attendance of 600. At p¢ak holiday season, this increases to 3 services on a Sunday due to the large influx of holidaymakers when we have more than 1.000 in attendance each Sunday. Small Grou 15 small groups meet weekly across the areas of Portrush, Portstewart, Bushmills, Coleraine and Ballymoney, for Bible study and prayer, with 2 meetings in the church building and the rest in homes. Th¢ average attendance in each group is 20 people. Youth Grou sISummer Bible Clubs Holiday Bible Club.. 128 children of primary school age attend¢d our Holiday Bible Club each morning for a week during the Easter holidays. This wa5 run by our Youth Coordinator and a team of volunteers alongside a Baptist Youth team. Each day consist¢d of Bible stories, crafi, snacks and games and finisbed on Fiiday with a BBQ for the children and their parents. Easter Youth Camp: 43 young people of hi(rh school ag¢ attended our 3 day Easter Camp and enjoyed a Tange of activities including a day out to a water park and games on the beach. Football and Hockey Camp.. 143 children in P3-P7 attended each evening for a week, learning and improving their football and hockey skills and enjoying a Bible message from the leaders. Ba tisms 27 people were baptised during 2023, some in the sea and some in the baptistry in the church building. Membershi 314 Financial Review The church recorded a net surplus of income over expenditure for the year of £77.729 (2022.. £72,401). Closing unrestricted reserves at 31 December 2023 were £4,658,912, including a General Revaluation Fund of £257,471. Closing restricted reserves at 31 December 2023 w¢re £2,837 (2022.. £7,840). This represents funds held for other specifi¢d funds and Baby Basics fund. There are no funds held by the Church that are in deficit. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust and constitutes an unin¢oTporat¢d charity. REFERENCE AND ADMIIYISTRATIVE DETAILS Registered Charity number 108322 Page 2
Portstewart Baptist Church Report of the Trustees for the Year Ended 31 December 2023 Principal address 1721174 Coleraine Road Portstewart Co. Londonderry BT55 7PL Trustees Mr Jonathan McGreevy Mr Jonathan Dixon Mr Gibson Evans Mr Kris Fairfield Mr Robert Kane Mr Garth Mahood Mr Stephen McKenzie Mr Michael Williams Mr Derek Leighton Ms Brenda Blair Mr David Barnett Ms Kim Berrisford Mr Paul Decock Mr David Johnston Mr Mark Sheridan Mr Graham Stirling Ms Loreen Williams Ms Anne Witherow Mr Matthew Wright Mr David FTazer (appointed 23.4.23) Mr L¢¢ J¢nnings (appointed 4.11.23) Auditors Mccleary & Company Ltd Chartered Accountants and Registered Auditors Garvey Studios 14 Longstone Str¢¢t Lisburn Co. Antrim BT28 ITP Bankers AIB NI 78 Wellington Street Ballymena BT43 6AF Page 3
Portstewart Baptist Church Report of the Trustees for the Year Ended 31 December 2023 STATEMEIYT OF TRUSTEES, RESPONSIBILITIES The trustees ar¢ responsible for prepartng the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. The trustees are required to pr¢pare financial statements for each financial year which give a true and fair view of the state of affairs of the congregation and the financial activities for that year. In preparing the financial statements the trustees are required lo.. select suitable accounting policies and then apply them consistently make judgements and estimates that are reasonable and prudent - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the funds will continue in operation. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the fimds transactions and disclose with reasonable accuracy at any time the financial position of the congregation and enable them to ensure that the financial statements comply with the Statement of Recommended Practice Accounting and Reporting by Charilies { l January 2019) They are also responsible foT safeguarding the assets of the congregation and hence for takn'ng reasonable steps for tbe prevention and detection of fraud and other irregularities. Approved by order of the board of trustees on 25 September 2024 and signed on its behalf by: Mr Derek Leigh Trustce Pag¢ 4
Report of the Independent Auditors to the Trustees of Portstewart Baptist Church Opinion We have audited the financial statements of Portstewart Baptist Church (the 'charity') for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to th¢ financial statements. including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the charity's affairs as at 31 Decemb¢r 2023 and of its incoming resources and application of resources, for the year then ¢nded. have been properly prepared in accordanc¢ with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Charities Act (Northern Ireland) 2008. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standar<L and we have lfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence w¢ have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trnstees, use of th¢ going concern basis of accounting in tbe preparation of the financial statements is appropriate. Based on the work w¢ have perfornied, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelv¢ months from when the financial statements are autliorised for issue. Our responsibilities and the responsibiliti¢s of the trustees with respect to going roncem are described in the relevant sections of this report. Other infornlation The trustees are responsible for the other inforn]ation. The other information comprises the infom]ation included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. OUT opinion on the financial statements does not cover the other infonnation and, except to the extent otherwise explicitly stated in our report. we do not ¢xpress any fonn of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other infonnation and, in doing so. consider whether the other inforn]ation is materially incon51Stent with the financial statements OT our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such matcrial inconsistencies or apparent material misstatements, we are required to detern]ine whether this gives rise to a material misstatement in the fmancial statem¢nts th¢ms¢lv¢s. If, based on the work we have p¢rforn]ed, we conclude that th¢[¢ is a material misstatement of this other inforniation, w¢ ar¢ required to report that fact. We hav¢ nothing to report in this regard. Page 5
Report of the Independent Auditors to the Trustees of Portstewart Baptist Church Matters on which we are required to report by exception We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion-. the infonnation given in the Report of the Trustees is inconsistent in any material respect with the financial statements. or sufficient accounting records have not been kept. or the financial statements are not in agreement with the accounting records and rerns. or we have not received all the infonnation and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Statement of Trustees, Responsibilities, the trustees are responsible for the preparation of the financial statements which give a tru¢ and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or ¢rror. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing. as applicable, matters related to going concern and using the going concern basis of accounting unless the trustccs either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Page 6
Report of the Independent Auditors to the Trustees of Portstewart Baptist Church Our responsibilities for the audit of the fInancial statements We have been appoiiiced as auditors under Section 65(2) of the Charities Act (Northern Ireland) 2008 and report in accordance with regulations made under Section 66 of that Act. Our objectives are to obtain reasonable assurance about whether the fmancial statements as a whole are free from material misstatement, whetheT due to fraud or eOr, and to issue a Report of th¢ Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and ar¢ ¢onsid¢r¢d material if, individually or in the aggregate, they Could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures arc capable of d¢t¢cting irregularities, including fraud is detailed below.. Having considered the nattlre of the Charity and the sector in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to breaches of health and safety laws, employment law and environmental regulations. We considered the extent to which non-compliance might have a material effect on the financial statements. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to incompleteness of income. Audit procedures perfonned included.. Assessment of compLianc¢ with key laws and regulations. - Enquiry of those charged with governance including any known or suspected instances of non-compliance with laws and regulations, potential litigation, and fraud. Identifying and testing transactions for appropriat¢n¢s5, evaluating the rationale for significant transactions outside what is normal for the charity and assessing whether th¢ judgments made in making accounting ¢stimates are indicative of potential bias, in order to assess thc risk of fraud through management oveIde of controls. Analytical procedures to identify any unusual or unexpected relationships that may indicat¢ risks of material misstatement due to fraud. Challenging assumptions and judgments made by management in significant accounting estimates. Reviewing the disclosures in the financial statements against the specific legal requirements. Substantive t¢sting of Balance Sh¢¢t items, tog¢th¢r with a high l¢v¢l of individual account analysis. Comparison of income disclos¢d in Financial Statements to original Bank Statements We communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-complianc¢ with laws and T¢gulations throughout the audit. There aTe inherent limitations in the audit procedures outlined above. We are less likely to b¢come aware of instances with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting on¢ resulting from erTor, as fraud may involve d¢liberate concealm¢nt. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsrcsponsibiliti¢s. This description fonns part of our Report of the Indep¢ndent Auditors. Page 7
Report of the Independent Auditors to the Trustees of Portstewart Baptist Church Use of our report This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015. Our audit work has be¢n undertaken so that we might state to the charity's trustees those matters we are r¢quir¢d to state to them in an auditors, report and for no otheT puIpos¢. To the fullest extent perniitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have fonned. John Mccleary (Senior Statutory Auditor) for and on behalf of Mccleary & Company Ltd Chartered Accountants and Registered Auditors Garvey Studios 14 Longstone Street Lisburn Co. Antrim BT28 ITP Date.. 25 September 2024 Pag¢ 8
Portstewart Baptist Church Statement of Financial Activities for the Year Ended 31 December 2023 31.12.23 Total nds 31.12.22 Total funds Unrestricted Restricted funds funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 523.017 14,770 537,787 502,752 Oth¢r trading activities Other incon]e 22,400 31,107 22,400 33,409 29,772 2,302 Total 576.524 17,072 593,596 584.255 EXPENDITURE ON Charitable activities Direct Costs Support Costs 450,050 40,742 25,075 475.125 40,742 471,997 39,857 Total 490,792 25.075 515,867 511,854 NET IIYCOMEI(EXPENDITURE) Transfers between funds 85,732 3,000 82,732 (8,003) 3,000 {5,003) 77,729 72,401 14 77,729 72,401 Other recognised gains1(losses) Gains on revaluation of fixed assets 257,471 257,471 Net movement Èn funds 340,203 (5,003) 335,200 72,401 RECONCILIATION OF FUNDS Total funds brought forward 4.318,709 7,840 4,326,549 4,254.148 TOTAL FUNDS CARRIED FORWARD 4,658,912 2,837 4,661,749 4.326.549 The notes fomi part of th¢sc financial statements Page 9
Portstewart Baptist Church Balance Sheet 31 December 2023 31.12.23 Total funds 31.12.22 Total funds Unrestricted Restricted funds funds Notes FIXED ASSETS Tangible assets Investment property 10 3,856,967 11 550.000 3,856,967 550,000 3,705,603 466,851 4,406,967 4,406,967 4,172,454 CURRENT ASSETS Debtors Cash at bank 12 29,566 228,655 29,566 231.492 6,135 153.360 2,837 258,221 2,837 261,058 159,495 CREDITORS Amounts falling due within one year 13 (6,276) (6,276) (5,400) NET CURRENT ASSETS 251,945 2.837 254,782 154,095 TOTAL ASSETS LESS CURREIYT LIABILITIES 4,658,912 2,837 4,661.749 4,326,549 NET ASSETS 4,658,912 2,837 4,661,749 4,326,549 14 Unrestricted thnd5 Restricted funds 4,658,912 2,837 4,318,709 7.840 TOTAL FUNDS 4,661,749 4.326.549 The financial statements were approved by the Board of Trustees and authorised for issu¢ on 25 S¢pt¢mb¢r 2024 and were signed on its behalf by: Mr Derek Leighton - Trustee Ms Brenda Blair - Trnstee The notes fomi part of th¢s¢ fUn(la1 statements Page 10
Portstewart Baptist Church Cash Flow Statement for the Year Ended 31 December 2023 31.12.23 31.12.22 Notes Cash flows from operating activities Cash generated from operations 78,132 103,454 Net cash provided by operating activities 78.132 103.454 Cash flows from investing aetivities Purchase of tangible fixed assets 62,160 N¢t cash provided by/(used in) investing activities 62.160) Change in Cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period 78,132 41,294 153.360 112,066 Cash and cash equivalents at the end of the reporting period 231,492 153,360 The notes fonn part of these fll]ancial statements Page 11
Portstewart Baptist Church Notes to the Cash Flow Statement for the Year Ended 31 December 2023 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 31.12.23 31.12.22 Net income for the reporting period (as per the Statement of Financial Activities} Adjustments for: D¢pr¢ciation charges (IncTease)/decrease in debtOTS Increase/(decrease) in creditors 77,729 72,401 22,958 (23,431) 876 20,928 12.725 2,600 Net cash provided by operations 78.132 103,454 ANALYSIS OF CHANGES IN NET FUNDS At 1.1.23 Cash flow At31.12.23 Net cash Cash at bank and in hand 153,360 78,132 231,492 153,360 78.132 231,492 Total 153,360 78,132 231,492 The notes fonn part of these funCIal statements Page 12
Portstewart Baptist Church Note5 to the Financial Statements for the Year Ended 31 December 2023 ACCOUNTING POLICIES Basis of preparing the fInancial statements The financial statements of the charity, which is a public benefit entity under FRS 102. have been prepared in accordarAce with the Charities SORP (FRS102) 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities prepaiing their accounts in accordance with Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102) (effective I January 2019), and the Charities Act (Northern Ireland) 2008. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the in¢om¢ will be received and the amount can be measured r¢liably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classifi¢d under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tangible fixed assets Depreciation is providcd at the following annual Tates in order to lte off each asset over its estimated useful life. Fixtures and fittings 20 /0 on r¢ducing balance Investment property Investment propety is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair valu¢ is recognised in the Statement of Financial Activities. Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with th¢ charitable objectives at the discretion of th¢ trnstees. Restricted funds can only be used for particular r¢strict¢d purposes within the objects of the charity. Restrictions ari5¢ when specified by the donor or when fund5 are raised for partÉcular restricted purposes. Pension costs and other post-retirement benefit5 The charity operates a d¢fined contribution pension schen]e. Contributions payabl¢ to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Page 13 continued...
Portstewart Baptist Church Iyotes to the Financial Statements - continued for the Year Ended 31 December 2023 DONATIONS AND LEGACIES 31.12.23 31.12.22 Donations Gift aid 463,474 74,313 437,177 65,575 537,787 502,752 OTHER TRADING ACTIVITIES 31.12.23 31.12.22 Chalet income Premises and propety rental 7.889 14,511 16,357 13,415 22,400 29,772 OTHER INCOME 31.12.23 31.12.22 Other income Special event income Baby basics donations Insurance claims 7,455 23,652 2.302 2,782 38,900 2.462 7,587 33,409 51,731 CHARITABLE ACTIVITIES COSTS Support costs (see note 6) Direct Costs Totals Direct Costs Support Costs 475,125 475,125 40,742 40,742 475,125 40,742 515,867 Pag¢ 14 continued...
Portstewart Baptist Church Notes to the Financial Statements - continued for the Year Ended 31 December 2023 SUPPORT COSTS Governance costs Finan¢¢ Other Totals Support Costs 3,982 29,909 6.851 40,742 TRUSTEES, REMUNERATION AND BENEFITS 31.12.23 31.12.22 Trustees, salaries Trustees, social security Trustees, pension contributions to defined benefit schemes 62,873 3,612 5.135 72,343 5.209 5.755 71,620 83,307 Trustees, expenses 31.12.23 31.12.22 Trustees, expenses 2,676 4,721 STAFF COSTS 31.12.23 31.12.22 Wages and salaries Social security costs Other pension costs 139,105 8,129 136,967 8,330 9.343 156,729 l54,640 The average monthly number of employees during tb¢ year was as follows: 31.12.23 31.12.22 Pastoral and Administration No employees received emoluments in excess of £60,000. Page 15 ontinued...
Portstewart Baptist Church Notes to the Financial Statements - contxnued for the Year Ended 31 December 2023 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 471.705 31.047 502,752 Other trading activities Oth¢r income 29,772 49,269 29,772 51,731 2.462 Total 550,746 33,509 584,255 EXPENDITURE ON Charitable activities Dir¢¢t Costs Support Costs 448,422 39,857 23,575 471,997 39,857 Total 488,279 23,575 511,854 NET INCOME Transfers betiveen funds 62.467 22,997 9.934 22,997) 72,401 Net movement in funds 85,464 (13,063) 72.401 RECOIYCILIATION OF FUNDS Total funds bTought forward 4,233,245 20,903 4,254.148 TOTAL FUNDS CARRIED FORWARD 4,318,709 7,840 4,326,549 Page 16 continued...
Portsteivart Baptist Church Notes to the Financial Statements - continued for the Year Ended 31 December 2023 10. TANGIBLE FIXED ASSETS Fixtures Freehold property fittings Totals COST At l January 2023 Reclassification 3.590.813 174,322 176,493 3.767,306 174.322 At 31 December 2023 3,765,135 176,493 3,941,628 DEPRECIATION At l January 2023 Charge for year 61,703 22,958 61,703 22.958 At 31 December 2023 84,661 84.661 NET BOOK VALUE At 31 December 2023 3,765.135 91,832 3,856,967 At 31 December 2022 3.590,813 114,790 3,705,603 11. INVESTMENT PROPERTY FAIR VALUE At l January 2023 Reclassification Revaluation 466,851 (174,322) 257 471 At 31 December 2023 550 000 NET BOOK VALUE At 31 December 2023 At 31 December 2022 51 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.23 31.12.22 Accrued income Prepayments 22,107 7,459 6,135 29.566 6,135 Page 17 continued...
Portsteivart Baptist Church Notes to the Financial Statements - continued for the Year Ended 31 December 2023 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.23 31.12.22 Other Creditors 6.276 5,400 14. MOVEMENT IN FUNDS Net movement in fimds Transfers between funds At 31.12.23 At 1.1.23 Unrestricted funds General Fund GeneTal Revaluation Fund Missionary Fund 4,318,709 145,235 257,471 59,503) (62,503) 4,401,441 257,471 59,503 4,318,709 343,203 (3,000) 4,658,912 Restricted funds Retiring Offering Other Restricted Funds Baby Basics Fund 5,175 746 1,919 (5,175) (659) (2,169) 87 2,750 3,000 7,840 8,003 3,000 2,837 TOTAL FUNDS 4,326,549 335,200 4,661,749 Net movement in funds. included in the above are as follows: Incoming Resources resources expended Gains & Movement Losses in llds Unrestricted funds G¢neral Funds General Revaluation Fund Missionary Fund 567.906 (422,671) 145,235 257,471 257,471 576,524 (490,792) 257,471 343,203 Restricted Funds Retiring Offering Other Restricted Funds Baby Basics Fund 6,603 8,167 (11,778) (8.826) (5,175) (659) TOTAL FUNDS Page 18 continued...
Portstewart Baptist Church Notes to the Financial Statements - continued for the Year Ended 31 December 2023 14. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement in funds Transfers bettveen funds At 31.12.22 At 1.1.22 Unrestricted funds General Fund Missionary Fund 4,179,998 53,247 115,714 53,247) 22,997 4,318,709 4,233,245 62,467 22,997 4,318,709 Restricted funds Building Fund Retiring Offering Other Restricted Funds Baby Basics Fund 17,308 7,545 5,175 526 (24,853) 5,175 746 1,919 364 (144) 2,000 20,903 9,934 22.997 7,840 TOTAL FUNDS 4,254,148 72,401 4.326,549 Comparative net movement in funds, included in the above are as follows: Incoming Tesources Resources expended Movement in funds Unrestricted funds General Fund Missionary Fund 543.519 7.227 (427,805) 115,714 550,746 (488,279) 62.467 Restricted funds Building Fund Retiring Offering Other Restricted Funds Baby Basics Fund 7,545 20,677 2,825 2,462 7,545 5,175 526 3,3 12) (15,502) (2,299} (5,774) 33,509 23,575) 9,934 TOTAL FUNDS 584.255 511.854) 72,401 Page 19 ontinued...
Portsteivart Baptist Church Notes to the Financial Statements - continued for the Year Ended 31 December 2023 14. MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined position is as follows: Net movement in funds Transfers between funds At 31.12.23 At 1.1.22 Unrestricted funds General Fund General Rcvaluation Fund Missionary Fund 4,179,998 260,949 257,471 112,750) (39,506) 4,401,441 257,471 53,247 59,503 4,233,245 405,670 19,997 4,658,912 Restricted funds Building Fund Other Restricted Funds Baby Basics Fund 17,308 364 3,231 7,545 (133) (24,853) (144} 5,000 87 2,750 20,903 1,931 19,997 2,837 TOTAL FUNDS 4,254,148 407,601 4,661,749 A current year 12 months and prior year 12 months combined net movement in funds. included in the above are as follows.. Incoming Resources resources expended Gains & Movement Losses in funds Unrestricted funds General Funds General Revaluation Fund Missionary Fund 1,111,425 {850,476) 260,949 257,471 112750 257,471 128 595 1,127,270 (979,071) 257,471 405,670 Restricted Funds Building Fund Retiring Offering Other R¢stricted Funds Baby Basics Fund 7,545 27,280 10,992 7.545 (27,280) (11,125) 10 245) (133) TOTAL FUNDS 1027 721 407 Page 20 continued...
Portstewart Baptist Church Notes to the Financial Statements - continued for the Year Ended 31 December 2023 15. RELATED PARTY DISCLOSURES Trustees, remuneration and expenses are detailed in note 7. Remuneration and expenses paid to trustees relates solely to their duties as employee5. These were the only related paty transactions in the yeaT ended 31 December 2023. Page 21
Portstewart Baptist Church Detailed Statement of Financial Activities for the Year Ended 31 December 2023 31.12.23 31.12.22 INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid 463,474 74,313 437,177 65,575 537,787 502,752 Other trading activities Chalet income Premises and house rental 7,889 14,511 16,357 13,415 22,400 29,772 Other income Other income Special ¢v¢nt income Baby basics donations Insurance claims 7,455 23.652 2,302 2,782 38.900 2,462 7,587 33,409 51,731 Total incoming resources 593,596 584,255 EXPENDITURE Charitable activities Trustees, salaries Trustees, social security Trustees, pension contributions Trustees, expenses Wages Social security P¢nsions 62,873 3,612 5,135 2,676 76,232 4,517 4.360 72,343 5,209 5,755 4,721 64,624 3,121 3,588 f 13 Light and heat Insurance Telephone Advertising Chalet costs Other donations and subscriptions Youth organisation costs Food and diink costs Carried forward 36,814 7,569 3,047 2,893 4,070 20,593 12.278 14,397 261,066 48,016 8,030 3.588 7,822 3,331 13.196 9,296 9,420 262,060 Page 22
Portstewart Baptist Church Detailed Statement of Financial Activities for the Year Ended 31 December 2023 31.12.23 31.12.22 Charitable activities Brought forward Audio visual expenses Visiting speakers Staff expenses Repairs and maintenanc¢ Specified expendimre Other ministry expenses Missionary fund distribution5 Retiring offerings distributions Special event expenses Baby basics expenditure 261,066 1,691 4,455 3,672 52,381 8,826 13,261 68,121 11.778 45,403 4,471 262,060 10,524 2,950 1,123 44,626 2,299 10,106 60,474 15,502 56,559 5,774 475,125 471,997 Support costs Finance Bank charges 3,982 2,069 Other Insurance Postage and stationery Sundiies Fixtures and fittings depreciation 915 4,936 I,ioo 22,958 661 3,960 4,853 20,928 29,909 30,402 Governance costs Accountancy and legal fees 6,851 7,386 Total resources expended 515,867 511,854 Net income 77,729 72.401 This page does not fom part of the statutory financial statements Page 23