Church of God at Shankill Independent Examinerfs Report to the Trustees of Church of God at Shankill Year ended 30 September 2024 I report on the financial statements for the year ended 30 September 2024. which comprise the statement of financial activits'es, ststement of financial position and the related notes. Respective responsibilities of trustees and examiner As the charity's trustees you are responsible for the preparation of the accounts in accordance with the Charities Act (Northem Ireland) 2008. It is my responsibility to: examine the accounts under sects.on 65 of the Charities Act., to follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65{9)(b) of the Charities Act; and to state whether particular matters have come to my attentlon. Basls of Independent examlnorfs report I have examined your charity accounts as required under section 65 of the Charities Act and my examination was Carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 6519)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees conceming any such matters. My role Is to state whether any material matters have come to my attention giving me cause to believe.. That accounting records were not kept in accordance with section 63 of the Charities Act That the accounts do not accord wth those accounting records That the accounts do not comply with the accounting requirements of the Charities Act That there Is further information needed for a proper understsnding of the accounts to be reached. Independent examlnerfs statement I have completed my examination and have no concems in respect of the matters {1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northem Ireland, I have found no matters that require drawing to your attents-on. &7 Finegan Gibson Independent Examiner Causeway Tower 9 James Street South Belfast BT2 8DN
Church of God at Shankill Statement of Financial Activities Year ended 30 September 2024 2024 Unrestricted funds Total funds 2023 Total funds Income and 8ndowments Donations and legacies Charitable activities Other trading activities Investment income Other income 60.545 12,290 11.730 73 1,230 85.868 60,545 12,290 11.730 73 1,230 56,922 9,174 3,977 77 Total income 85,868 70,152 Expendlture Expenditure on charitable activities Total expenditure 9,10 86,742 86,742 86,742 86,742 70,266 70,266 Net expenditure and not movoment in funds (874) {874) (114) Reconclllatlon of funds Total funds brought fornard as previously reported Prior year adjustment Total funds brought forward as restated Total funds carrfed forward 499.886 499.886 500,000 499.886 499,886 500,000 499,012 499,012 499,886 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 10 to 17 fomi part of these financial statements.
Church of God at Shankill Statement of Financial Position 30 September 2024 2024 2023 (restated) Flxed assets Tangible fixed assets 15 490,000 500,000 Current assets Cash at bank and in hand 11.028 1,806 Credltors: amounts falling due within one year Net current assets 16 2,016 1,920 9,012 499,012 1114) 499.886 Total assets loss current Ilabllltles Not assets 499.012 499.886 Funds of the charity Unrestricted funds 499,012 499,012 499,886 499,888 Total charity funds These financial ststements were approved by the board of trustees and authorised for issue on 9 March 2026. and are signed on behalf of the board by.. ol Pastor S Reynolds Trustee The notes on pages 10 to 17 fomi part of these finan¢lal statsments.
Church of God at Shankill Notes to the Financial Statements Year ended 30 September 2024 General information The charity is a public benefit entity and a registered charty in Northern Ireland and is unincorporated. The address of the principal office is Church Of God Shankill, 225 Conway Street, Belfast. BT132DE. Northem Ireland. Statement of compliance These financial statements have 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 Stsndard applicable in the UK and Republic of Ireland {FRS 102) (Charities SORP (FRS 102)) and the Charities Act (Northern Ireland) 2008. Accountlng pollcles Ba818 of preparatlon The financial statements have been prepared on the hlstortcal 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 statements are prepared in sterling. which is the functional currency of the entity. Golng con¢em There are no material uncertainties about the charty's ability to continue. Judgements and key Sources of ostlmation 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 expectations of future events that are believed to be reasonable under the circumstsnces. Fund accountlng Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular fvture project or commitment. Restricted funds are subjected to restrictions on their expenditure deClad by the donor or through the tems of an appeal, and fall into one of two sub-classes.. $tricted income funds or endowment funds. 10
Church of God at Shankill Notes to the Financial Statements (continuerfj Year ended 30 September 2024 Accounting policies (eonthu•dJ Incoming resources All incoming resources are included in the statement of financial adivities when entitlement has passed to the charity., it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be liablY measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evldence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement 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 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 seNices is recognised with the delivery of the contracted service. This is Classified as unrestricted funds unless there Is a contractual requirement for it to be spent on a particular purpose and returned rf 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 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 govemance 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 flectIng the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned beeen the activtties they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impaimient losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impaimient losses. 11
Church of God at Shankill Notes to the Financial Ststements (continued) Year ended 30 September 2024 Accounting policies (conlinue Tangible assets (continued) An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss Is shown within other recognised gains and losses on the statement of financial activtties. Depreclatlon Depreciation is calculated so as to wrrte off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows.. Freehold property 2% straight line Impalrment of flxed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Ipthere the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impaimient testing, when it is not possible to estimate the recoverable amount of an Individual asset. an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition dale, allocated to each of the Cash-generating un5ts that are expected to benefit from the synergies of the combination. irrespective of whether other assets or liabilities of the charity are assigned to those units. Flnanclal Instruments A financial asset or a financial liabilty is recognised only when the charity becomes a paty to the contractual provisions of the instrument. Basic financial instruments are inrtialty recognised at the amount receivable or payable including any related transaction costs. Current assets and current 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 shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impaimenL 12
Church of God at Shankill Notes to the Financial Ststements (coneinued) Year ended 30 September 2024 Accounting policies (contlnuedj Flnancial instruments (conthjued) Other financial instruments. including derivatives, are inttially recognised at fair value, unless payment for an asset is deferred beyond normal business temis or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value 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 statement of financial acb'vities, with the exception of hedging instruments in designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objedive evidence of impairment 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 f5nancial 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 that exceeds what the carrying amount would have been had the impaiment not previously been recognised. Defined contrlbutlon plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settEed wholly within 12 months of the end of the reporting date in which the employees render the related seprfice, the liability is measured on a dlscounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Donatlons and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 (r•stAted) Donations Offerings Donations Mission Donations 37,252 14.928 7,365 37,252 14.928 7,365 31,259 11,444 914 31,259 11,444 914 Grants GrantslFunding 1,000 1,000 10.050 10,050 13
Church of God at Shankill Notes to the Financial Statements {continuedJ Year ended 30 September 2024 Donatlons and legacles {¢onllnu8dJ Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 freslated) Other donatlons and legacles Start up Donation 3,255 3.255 60,545 60.545 56,922 56,922 Charitable activities Unrestricted Total Funds Unrestricted Totsl Funds Funds 2024 Funds 2023 (r•st•t•d) Access Nl Payments Gift Aid Bullding Fund 2,053 6,494 3,743 2,053 6,494 3,743 1,310 6,269 1,595 9.174 1,310 6,269 1,595 9,174 12,290 12.290 Other tradlng actlvltles Unrestricted Tolal Funds Unrestricted Totsl Funds Funds 2024 Funds 2023 (rest•l•d) Fundraising events 11,730 11,730 3,977 3,977 Investment income Unrestricted Totsl Funds Unrestricted Total Funds Funds 2024 Funds 2023 (r•st•ted) Bank Interest receivable 73 73 Other Income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 (restated) Misc Income 1.230 1.230 77 14
Church of God at Shankill Notes to the Financial Ststements (continueo) Year ended 30 September 2024 Expendlture on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 (rnst•t•dJ Charitable Activity Support costs 86.646 86.646 96 68,346 1,920 68,346 1.920 86.742 86,742 70.266 70,266 10. Exponditur8 on charltable activities by activity type Activities undertaken directly Support costs Total funds 2024 Total fund 2023 Charitable Activty Governance costs 86,646 86,646 96 68,346 1,920 86,646 86,742 70,266 11. Net expendlture Net expenditure is stated after chargingl(crediting): 2024 2023 (r•slat•dJ Depreciation of tangible fixed assets 10,000 12. Independent examlnation fees 2024 2023 (r•st•l•d) Fees payable to the independent examiner for.. Independent examinats'on of the financial statements 2.016 1,920 13. Staff costs The total staff costs and employee beneffts for the reporting period are analysed as follows.. 2024 2023 frestat•dJ Wages and salaries Employer contributions to pension plans Other employee beneffts 23.234 1,200 345 28,950 908 553 24.779 30,411 15
Church of God at Shankill Notes to the Financial Statements (continued) Year ended 30 September 2024 13. Staff costs (continuedj The average head count of employees during the year was 1 (2023: 2). One trustee was in reIpt of renumeration, during the year in relation to their engagement as Pastor. The total of such remuneration during the year. excluding pension and social security costs was £21,520. No employee received employee benefits of more than £60,000 during the year (2023: Nil). 14. Trustse remuneratlon and expenses One twstee was in receipt of remuneration as outlined in note 12. No other twstees received remuneration in their role as trustee. No other trustees received reimbursement of expenses in their role as trustee. 15. Tanglble fixed assets Froehold property Cost At 1 October 2023 (as restated) and 30 Septembor 2024 Depr8clatlon Al 1 October 2023 Charge for the year At 30 September 2024 Carrylng amount At 30 September 2024 At 30 September 2023 500,000 10,000 10,000 490,000 500,000 16. Credltors: amounts falling due wlthln one year 2024 2023 (restat) Accruals and deferred income 2.016 1,920 17. Penslons and other post retlrement benefits Defined contrlbutlon plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £1.200 (2023.. £908). 16
Church of God at Shankill Notes to the Financial Statements (continuod) Year ended 30 September 2024 18. Analysis of charitable funds Unrestricted funds At 1 October 20 23 At Prior year 30 Septembe Sncome Expenditure adjustments r 2024 General funds 499.886 85,868 (86.742) 499,012 At 1 October 20 At Prior year 30 September Income Expenditure adjustments 2023 General funds 70,152 (70,268) 500,000 499,886 19. Analy818 of net assets botween funds Unrestrlcted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Net assets 490,000 11,028 (2,016) 499,012 490,000 11,028 (2,016) 499,012 Unrestricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net assets 500,000 1,806 (1,920) 499,886 500,000 1.806 (1,920) 499,886 20. Rolated partles There are no related party transactions in the year. 17