Page 17 CHURCH OF IRELAND AND METHODIST CHAPLAINCY BELFAST COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING THE INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 30 JUNE 2024 Total Funds 2024 Total Funds 2023 Unrestricted Restricted Funds Funds Note INCOMING RESOURCES Incoming resources from generating funds.. Voluntary income Activ ities for gienerating fiinds Investment income Incomiiig resources froin cliaritable activities Other incoming resoiirces 59,659 206,039 751 47,096 5,217 82,980 18S,928 817 165,663 9,793 5,000 211,039 751 156,873 4,027 109,777 TOTAL INCOMING RESOURCES 318,762 114,777 433,539 445,181 RESOURCF.S EXPENDED Charilable activiti¢5 Governance costs 244,2£3 11,419 144,808 389,061 11,419 399,085 4,680 TOTAL RESOURCES EXPENDED 255,672 144,808 400,480 403,765 NET INCOMING I (OUTGOING) RESC)URCF.S IIEFORE TRANSFERS Transfer betwecii l uiids 63,090 (23,531) (30,031) 23,531 41,416 OTHER RECOC.NISED LOSSES Gain/(Loss) on revaluation of iiivestments NET INCOMING RF.SOURCES FOR THE YEAR RECONCILIATION OF FUNDS Total fiinds broughi forward TOTAL FUNDS CARRIED FORWARD 633 633 (15J28) 40,192 (6,500) 33,059 26,088 89,152 9,000 98,152 72,064 129,344 2,500 131,211 98,153 The Statement of Financial Activities includes al I gains and losses in the year and therefore a stateinent of total recognised gains and losscs lias not been prepared. All of the above amounts relate to continliing activities. The notes on pages 18 to 25 fomi part of these financial statements. Page 18 CHURCH OF IRELAND AND METHODIST CHAPLAINCY BELFAST COMPANY LIMITED BY GUARANTEE BALANCE SHEET 30 JUNE 2024 2024 2023 Note FIXED ASSETS Tangible assets Investments 13 14 26,655 15,759 15,126 CURRENT ASSETS Debtors Cash at bank and in hand 42,414 15,126 15 21,756 73,686 10,857 83,258 CREDITORS: Amounts falling due within one year 95,442 94,115 16 6,012 11,089 NET CURRENT ASSETS 89,430 83,026 NET ASSETS 131,844 98,152 FUNDS Restricted income fiinds Unrestricted income funds TOTAL FUNDS 17 18 2500 129J44 9,000 89,152 131,844 98,152 These accounts have been prepared in accordance with the provisions applicable to companies SLibject to the small companies, regime and in accordance with Charities SORP (FRS 102). The dlrectors are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the aiidit of tlie financial statements for ilie year by virtue of section 477(2) relating to small companies, and that no member or members have requested an aiidit pursuant to sectton 476(1) of the Act. The directors acknowledge their responsibilities for.. (i) ensuring that the company keeps adequate accoiinting records which comply with section 386 of the Act, and (li) preparing financial stateincnts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its sui'plus or deficit for the financial year in accordance with the requirements of section 393, and whicli otheNiise comply with the requirements of the Act relating to fiiiancial statements, 50 far as applicable to the company. These financial statements were approved by the meinbers of the committee on the and are signed o their behalf by: RTH Direc DR I TAYLOR Director 41,1¥ Date.. ..24.Iql Ir..... Company Registration Number". NJ680339 Page 19 CHURCH OF IRELAND AND METHODIST CHAPLAINCY BELFAST COMPANY LIMITED BY GUARANTEE STATEMENT OF CASH FLOWS YEAR ENDED 30 JUNE 2024 2024 2023 Note Cash flow from operating activities Net cash flow from operating activities 20 25,144 39,111 25,144 39,111 Investing activities Purchase of tangible fixed assets (34,716) Net (decrease)lincrease in cash and cash equivalents (9,572) 39,111 Cash and cash equivalents at 30 June 2023 Cash and cash equivalents at 30 June 2024 83,258 44,147 73,686 83,258 Cash and cash equivalents consist of - Cash at bank and in liand 73,686 83,258 Cash and cash equivalent5 at 30 June 2024 73,686 83,258 Page 20 CHURCH OF IRELAND AND METHODIST CHAPLAINCY BELFAST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2024 ACCOUNTING POLICIES General information and basis of accounting Church of Ireland and Methodisl Chaplaincy Belfast is a charitable company limited by guarantee and does not have any sharc capital. It registered as a charity with The Charity Commission for Northem Ireland on 20 January 2022 and it is in¢orporat¢d in Northern Ireland. The address of the registered office is given in the charity information on page l of these financial statements. The charitable company constitutes a public benefit entity as defined by FRS 102. Statement of compliance The financial statements have been prepared in compliance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingydom and Republic of Ireland (FRS 102), the Charities Act (Northern Ireland) 2008, The Charities (Accounts and Reports) Regulations (Northeni Ireland) 2015 aiid the Companies Act 2006 and UK Generally Accepted Practice as it applies from l Janiiary 2015. The financial statements are prepared on a g70ing concern basis under the historical cost convention, modified to inLlude certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £ l. The significant accoiinting policies are set out below. The directors consider that these accounting policies are suitable, have been consistently applied and are supported by reasonable and prudent judgement and estimates. Fund accounting- unrestricted funds The company's unrestricted funds consist of a General Fund which is expendable at the discretion of the directors in furtherance of the charitable objects of the company. The directors may at their discretion designate funds for specific purposes biit the designation does not legally restrict the directors, discretion to apply th¢ funds. Income recognition All income is incliided in the Statement of Financial Activities (SOFA) whcn the charity is legal ly entitled to the income after any performance conditions have been met, the amoiint can bc measured reliably and it is probable that the income will be received. For donatioiis to be recognis¢d the charity will have been notified of the ainounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can bc obtained Ihen income is deferred iintil those conditions arc rully met or th¢ flilfilment of those conditions is within the control of the charity and it is probable tliat they will be fulfilled. Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the cliarity has control over the item. Fair value is determined on tlie basis of tlie value of the gift to the charity. For exaiiiple the amoiint the charity would be wil l ing to pay in tlie open market for siich facil ities and services. A corresponding amount is recognised in expenditiire. Page 21 CHURCH OF IRELAND AND METHODIST CHAPLAINCY BELFAST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 30 JUNE 2024 ACCOUNTING POLICIES (conlinued) Income recognition (conlinued) No ainount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is givcn in the Directors, Annual Report. Where practicable, gifts in kind donated for distribution to the beneficiaries of the charity are included in slock and donations in the financial statements upon receipt. If it is impracticable to assess the fair value at receipt or if the costs to undertake such a valuation outweigh any benefits, then the fair value is rccogynised as a component of donations when it is distributed and an equivalent amount recognised as charitable expenditure. Voluntary income received by way of donations and gift is credited to revenue on a receivable basis. Fixed asset gifts in kiild are recogFnised when receivable and are included at fair value. They are not deferred over the life of the asset, For legacies, entitlement is the earlier of the charity being notified of an impending distribLltion or the legFacy being received. At this point income is recognised. On occasion legFacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On tliese occasions, the legacy is treated as a contingenl asset and disclosed. Investmenl income is interest earned through liolding cash at bank. Interest income is recognised when receivable. Expendkture recognition All expenditLire is accollllted for on an accruals basis and has been classified uiider headings that agygiregyate all costs related to the categynry. Expenditlire is recognised wliere there is a leg7al or coiistrLlCtive obligyalion lo make payillents to third Pi?rties, it is probable that the settleinent will be reqLiired and the amoiinl of the obl igiltion ¢