Docusign Envelope ID: 0215F361-F77E-48B8-A090-694C1DDF3611
**Company registration number: NI684479 Charity Commission for NI No: 109066**
**Liberty Church Mid-Ulster Company limited by guarantee**
**Unaudited financial statements**
**Year ended 31st March 2025**
Docusign Envelope ID: 0215F361-F77E-48B8-A090-694C1DDF3611
## **Liberty Church Mid-Ulster Company limited by guarantee**
||**Contents**||
|---|---|---|
|||**Page**|
|Directors and other information||**1**|
|Report of the Directors||**2 - 6**|
|Independent Examiners report||**7**|
|Statement of Financial Activity||**8**|
|Statement of Financial Position||**9**|
|Notes to the financial statements||**10 - 17**|
Docusign Envelope ID: 0215F361-F77E-48B8-A090-694C1DDF3611
## **Liberty Church Mid-Ulster Company limited by guarantee**
**Directors** Mr David Adair Mr Paul Harper Mrs Helen Hart Mr Jason Shiels **Company number** NI684479 **Registered office** 33a William Street Cookstown Co Tyrone BT80 8AX **Business address** 33a William Street Cookstown Co Tyrone BT80 8AX
**Accountants** JSR 44 Blackisland Road Annaghmore Portadown Co Armagh BT62 1NE **Bankers** First Trust Bank 18-20 Scotch Street Dungannon Co Tyrone BT70 1AZ
Page 1
Docusign Envelope ID: 0215F361-F77E-48B8-A090-694C1DDF3611
## **Liberty Church Mid-Ulster Company limited by guarantee**
The Directors are pleased to present their annual directors’ report together with the unaudited financial statements of the charity for the year ended 31[st] March 2025. This report has also been prepared to meet with the requirements for a directors report and accounts for the purposes of the Companies Act.
The Directors who served during the year were as follows:
Mr David Adair Mrs Helen Hart Mr Paul Harper Mr Jason Shiels
The directors meet regularly to discuss the broad strategy of the charity to include areas of activity for the charity, assessment of reserves and risk management. The day-to-day administration of the charity is delegated to Mr Jason Shiels (Director).
## **Risk Management**
The Directors actively review any major risks, which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources for the incoming year. The Directors have also examined other operational and business risks faced by the Charity and confirm that they have established systems to mitigate the most significant risks.
## **Objectives of Liberty Church Mid-Ulster**
The church is established and has a primary area of benefit in Mid-Ulster for:
a) the promotion of the Christian faith b) to relieve sickness, poverty, hunger, hardship and promote well-being c) to further Christian education d) partnership for the common good in society e) any other exclusively charitable purposes
## **Activities, meeting objectives and public benefit**
The Directors have had regard to the Northern Ireland Charity Commission's Public benefit requirements, as demonstrated though the following overview of the years activities:
This report provides an overview of the work of Liberty Church Mid-Ulster for the year ended 31[st] March 2025.
This is the second annual report for Liberty Church Mid-Ulster.
## **Charitable Activities and Impact Report**
This period has seen considerable success in meeting the aims and objectives of the charity.
## **Directors report – 2024-25**
## **Charitable Activities and Impact Report**
## _**The following is an overview of the ways in which the activities of the church meet the aims and objectives of the charity.**_
**Church meetings** – During the year the church has continued to meet every Sunday for worship at 11am and monthly with an evening meeting. Since the end of the financial year being reported on, we have not been having an evening service. The purpose of public meetings is to promote the Christian faith in the congregation and community (through evangelism, teaching, and discipleship) and to develop the church body along with the associated activities of the church body, and to
The notes on pages 10 to 17 form part of these financial statements.
Page 2
Docusign Envelope ID: 0215F361-F77E-48B8-A090-694C1DDF3611
## **Liberty Church Mid-Ulster Company limited by guarantee**
educate members and the public on the teachings of the Bible. Our vision is derived from our doctrinal statements found in the meta-narrative of Scripture and the specific commands of Jesus Christ.
**Life Groups** – Life Groups met in different homes and areas for the purpose of fellowship, prayer, Bible study, support and spiritual growth. We encourage the groups to practise the teachings and the ‘one another’s’ of Scripture to grow as a maturing local body of believers. We also encourage the Life Group members to be missional.
**Prayer** – we have regular prayer meetings at Liberty and believe that our value on prayer is a measure of our dependence on the Lord.
**Prayer ministry** – this impactful ministry has been offered for those requesting ministry after meetings or when requested.
**King’s Kids** – we are so thankful for those who have volunteered their time this year to serve in our vibrant King’s Kids _children’s program_ for ages 4-11 years on a Sunday morning. Tracey Carson has taken on the co-ordination of this ministry. Her enthusiasm and vision for the work are deeply appreciated and so beneficial for the children. The children are taught Scripture and what this means. They sing together, make crafts and talk about how faith meets life.
**‘Parent and child rooms’** – we have two comfortable rooms upstairs for parents with small children who can watch the preach through video-link if they need to leave the main meeting area, while allowing for a space for toddlers and infants to play and interact.
**Refreshments team** – a big thanks to all the volunteers who have served us tea/coffee and treats throughout the year. This is always done with excellence and a smile! Thanks to Cherith Deacon who is co-ordinating this rota.
**Hospitality team** – thanks to all who have helped during the year with hospitality and hosting of events.
**‘Christianity Explored’ course** – a _Christianity Explored_ course was run at Liberty during the year and was excellently led by Rachel Lawrence and her team. Thanks to those on team and to those who attended.
**‘REACH’** – Liberty has been connected to a churches-together initiative in the Cookstown area.
**Liberty Foodbank** – alleviating food poverty:
- One of the main aims of the church is to alleviate hardship, poverty and distress within the MidUlster community.
- Liberty Foodbank began in 2021 and continues to provide weekly support to many individuals and families who are struggling to put food on their table during times of crisis.
- Our staff and volunteers are to be commended for their excellence, care and resilience in delivering a caring and professionally run service that is a lifeline for service users.
- The _roles_ that make Liberty Foodbank work so effectively include: Supermarket donation collections, packing donations in our store, arranging and packing boxes for clients, data collection and retention, maintaining environmental health standards, trips to the recycling centre, referral partner communications, record keeping, Fareshare ordering and deliveries, collection hosting times, deliveries for those who are unable to collect, liaising and working
The notes on pages 10 to 17 form part of these financial statements.
Page 3
Docusign Envelope ID: 0215F361-F77E-48B8-A090-694C1DDF3611
## **Liberty Church Mid-Ulster Company limited by guarantee**
with referral partners and donors, and much more. Most of those involved are volunteers and in so many ways are unsung heroes of our community. This has become a significant service in our community and has latterly been recognised through _Hardship fund_ awards from MUDC (2024-25, £4,000). We are grateful for their support and for that of community champion Janice Gibson (Asda community champion) and Asda Foundation. We would also like to recognise the generous support of other local churches, especially in Harvest season, and the public at manned food collections at Asda.
## **Liberty Café** – _a place to connect_ :
- _Liberty Café_ happens weekly on a Wednesday between _September and June_ between 10am and 2pm. We have a team of dedicated volunteers who open the doors offering high quality barista coffee and exquisite treats in a warm and welcoming environment. The popular café has both regulars and newcomers welcomed and served in an _inclusive_ environment. The café is particularly effective in providing a sense of connection and community that diminishes loneliness and isolation. Some who could be regarded as being in vulnerable situations frequent the Café.
**Hire of facilities** – Liberty premises in the centre of Cookstown provides an affordable option for _community groups and organisations_ to host their meetings.
**‘Home for good’ -** Liberty continued to highlight the work of ‘Home for Good’ during the year. They work with fostering and adoption in NI.
**Counselling services** – Liberty offers quality **counselling** sessions towards alleviation of mental and emotional health struggles in our community. Information and bookings can be made via phone, email or the booking platform on the church’s website. Many testimonials are available of the significant help this has brought to service users.
**Partnership** – _Liberty Church Mid-Ulster_ works in partnership with other churches and organisations where there is a strong sense of relational connection, shared philosophy of ministry and beliefs.
- During the year a strong partnership was established with _Watoto ministries_ (Uganda) and their UK Director Andrew White. We hosted the Watoto children’s choir who were amazing! Part of the thrill was to be able to facilitate numerous new _child sponsorships_ and raise money on the night for the work of Watoto.
- Partnership is truly in the DNA of Liberty, and it is hoped that more teams will travel from and to Liberty for the purpose of partnership for the Kingdom of God in various ventures. Jason and Ali Shiels have continued to spearhead these efforts again in the last year - encouraging and strengthening other churches both near and far. The Shiels also hosted and led an event for Pastors in March 2025 in Northern Ireland. Jason ordained a new Lead Pastor at Kingsgate church in Kingston in November 2024. These are just a few examples of _partnership with mission in mind_ .
- We have also continued to _seek out and receive_ input and consultation in partnership during the year from gifted external ministry partners.
- Jason hosts a group of local ministers for monthly prayer at Liberty premises.
**Signposting and referral partners** – one key element of our philosophy of ministry is _signposting_ . This happens through building relationships of trust and understanding with other
The notes on pages 10 to 17 form part of these financial statements.
Page 4
Docusign Envelope ID: 0215F361-F77E-48B8-A090-694C1DDF3611
## **Liberty Church Mid-Ulster Company limited by guarantee**
agencies, churches, and organisations over time. Liberty is now well established in Cookstown. We are pleased to say that we have a range of referral partners to our public benefitting services. We are equally pleased to say that we _also_ refer people _we_ have contact and relationship with to _other local services_ which are best positioned to assist and meet needs.
- One example of this is that we refer some of our Foodbank service users to the _Social Supermarket scheme_ facilitated by _STEP_ , within the MU area. This is an example of groups working together for public benefit and offering ‘wrap around service’ to the community.
**Education and training** – Bible classes and courses, mental health seminars, and volunteer training. The ministry of the _Word_ has been taught and studied in various forums and applied to various facets of life.
**Young Adults** – this ministry has developed well over the past year and has been a source of connection and spiritual encouragement to those involved.
**Ladies ministry** – events and meetings for ladies have been an important part of the church since it began in 2014 and in the past year too.
Ali Shiels and a team of ladies now lead the new Liberty lady’s ministry called ‘ _Wholehearted_ ’.
**Media and Sound team** – a big thanks to all involved in this important work over the past year. Opportunity exists for new volunteers for sound, audio-visuals, video, and social media.
**Worship team** – we have a team of musicians who serve us so well through song, music and the creative arts.
**Fundraising for mission** – we are deeply grateful for the donations for mission during this financial year. This included donations for a ‘Nepal fundraiser’. Most of the outgoing expenditure from the latter fundraiser were spent after the end of the financial year and will be seen in next year’s report.
## **A word of thanks…**
We would like to thank Gillian Brown for her hard work on staff as a part-time Administrator at _Liberty Church Mid-Ulster_ . Gillian’s employment at the church ended in February 2025. We wish Gillian well in her future endeavours.
We would also like to _recognise and_ thank _**all**_ volunteers / leaders who gave of their time and service in the past year, _including those_ who are no longer involved in these roles.
We would also like to acknowledge and offer thanks for the generous donations by Dropinn Ministries £7,700 (2024; £11,900), Delmarva Foundation £10,913 (2024; £11,087) during the year to help facilitate our public benefitting vision and activities.
## **Financial Overview:**
The Financial Accounts are presented to the Church annually at the Family Meeting by David Adair, Director and Treasurer, with an opportunity for any members of Liberty to ask questions and receive answers on all aspects of Liberty's accounts. Copies of accounts are also made available for members at this meeting. This is in line with the value and ethos of all Directors to be both accountable for, and transparent in all aspects of Liberty Finances
The notes on pages 10 to 17 form part of these financial statements.
Page 5
Docusign Envelope ID: 0215F361-F77E-48B8-A090-694C1DDF3611
## **Liberty Church Mid-Ulster Company limited by guarantee**
The Financial Statements are presented in the standard format required by the Charities SORP (FRS 102) 2015 and in accordance with The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015. The Statement of Financial Activities on page 9 shows the gross income from all sources.
Total Incoming Resources £ 96,790 (2024; £ 120,163 ) Total Resources Expended £102,455 (2024; £ 116,025 ) (Deficit)/ Surplus for year £(5,655) (2024; £ 4,138 )
No funds held by the charity were in deficit either during the year or at the year end.
## **Registration Details:**
Registered Northern Ireland Charity No: NIC109066 Registered Limited Company No: NI684479 Company Registered in Northern Ireland
## **Statement of directors responsibilities**
The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Small Company Provisions**
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the Board of Directors on 14[th] November 2025, and signed on its behalf by:
wea= [ PaulHarper Mr David Adair Mr Paul Harper Director/ Treasurer Director
The notes on pages 10 to 17 form part of these financial statements.
Page 6
Docusign Envelope ID: 0215F361-F77E-48B8-A090-694C1DDF3611
## **Liberty Church Mid-Ulster Company limited by guarantee**
## **Independent examiner’s report to the charity Directors of Liberty Church Mid-Ulster charitable company.**
I report on the accounts of the company for the year ended 31st March 2025, which are set out on pages 8 to 17.
## **Respective responsibilities of charity Directors and examiner**
As the charity Directors (and also the directors of the company for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the charity is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to:
- examine the accounts under section 65 of the Charities Act
- 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
- state whether particular matters have come to my attention.
## **Basis of independent examiner’s 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 65(9)(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 you as charity Directors concerning any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe:
1. That accounting records were not kept in accordance with section 386 of the Companies Act 2006
2. That the accounts do not accord with those accounting records
3. That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice
CCNI ARR07 – supporting document 7 August 2016 applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
4. That there is further information needed for a proper understanding of the accounts to be reached.
## **Independent examiner’s statement**
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.
(nat by:
Jonathan Ross FCA
44 Blackisland Road, Annaghmore Portadown BT62 1NE
Date: 14[th] November 2025
The notes on pages 10 to 17 form part of these financial statements.
Page 7
Docusign Envelope ID: 0215F361-F77E-48B8-A090-694C1DDF3611
## **Liberty Church Mid-Ulster Company limited by guarantee Statement of Financial Activities (to include Income and Expenditure account) Year ended 31 March 2025**
|**For the period ended 31 March 2025**
**Incoming Resources**
**Notes**
Incoming Resources from generated
funds
Voluntary income
**2**
Activities for generating funds
**3**
Other incoming resources
**Total Incoming Resources**
**Resources Expended**
Charitable activities
**4**
Running Costs/ Administrative costs
**5**
Governance Costs
**6**
Other Resources Expended
**7**
**Total Resources Expended**
**Net incoming/ outgoing resources**
**before transfers**
Gross transfers between funds
**Net incoming resources before other**
**recognised gains and**
**losses**
**Net movement in funds**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**
**12**|Unrestricted
Funds
£
68,593
845
13
**69,451**
54,118
20,291
1,445
(145)
**75,709**
(6,258)
-
(6,258)
(6,258)
6,682
**424**|Restricted
Funds
£
27,339
-
-
**27,339**
14,639
12,097
-
-
**26,736**
603
-
603
603
78,655
**79,258**|Total
Funds
£
95,932
845
13
**96,790**
68,757
32,388
1,445
(145)
**102,445**
(5,655)
-
(5,655)
(5,655)
85,337
**79,682**|Prior year
£
117,658
1,250
1,255|
|---|---|---|---|---|
|||||**120,163**|
|||||80,677
34,127
1,221
-|
|||||**116,025**|
|||||4,138|
|||||-|
|||||4,138|
|||||**4,138**
**81,199**|
|||||**85,337**|
All income was derived from continuing activities, therefore no statement of total recognised gains and losses is required.
The notes on pages 10 to 17 form part of these financial statements.
Page 8
Docusign Envelope ID: 0215F361-F77E-48B8-A090-694C1DDF3611
## **Liberty Church Mid-Ulster Company limited by guarantee Statement of Financial Position 31st March 2025**
||**Notes:**|**2025**|**2024**|
|---|---|---|---|
|||£|£|
|**Fixed Assets**||||
|Tangible fixed||||
|assets|**8**|48,331|52,595|
|||48,331|52,595|
|**Current Assets**|**9**|32,299|35,701|
|**Creditors: amounts falling due within one**||||
|**year**|**10**|909|2,907|
|**Net Current**||||
|**Assets**||31,390|32,794|
|**Total assets less current liabilities**||79,721|85,389|
|**Creditors: amounts falling due**||||
|**after more than one year**
**Net assets**
**Represented by:**|**11**|39
**79,682**|52
**85,337**|
|Unrestricted funds|**12**|424|6,682|
|Restricted funds|**12**|79,258|78,655|
||**12**|**79,682**|**85,337**|
For the year ending 31st March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
## Directors responsibilities:
• The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the board of directors and authorised for issue on 14[th] November 2025, and are signed on behalf of the board by: ( Mr David Adair Fer4A18B577263F410... by: [Paul Mr Paul Harper CD5FB26793D44B8...by: Director/ Treasurer Director Company registration number: NI684479
The notes on pages 10 to 17 form part of these financial statements.
Page 9
Docusign Envelope ID: 0215F361-F77E-48B8-A090-694C1DDF3611
## **Liberty Church Mid-Ulster Company limited by guarantee**
## **Notes to the financial statements**
**Year ended 31st March 2025**
## **1. Company Information**
Liberty Church Mid Ulster is a private company limited by guarantee. The company is incorporated in Northern Ireland. The registered office address is 33a William Street, Cookstown, Co Tyrone, BT80 8AX.
## **1.1 Accounting policies**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## **Basis of preparation**
The financial statements have been prepared in accordance with the Accounting and Reporting Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 1A) (effective January 2015) – Charities SORP (FRS 102)).
The Financial Statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit of loss.
The financial statements are prepared in Sterling, which is the functional currency of the entity.
## **Going Concern**
At the time of approving the accounts, the Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. This expectation has been arrived at based on their regular reviews of income and expenditure, and their routine cash-flows. On this basis they have determined the charity to be a going concern.
## **Fund Accounting**
General Funds are Unrestricted Funds which are available for use at the discretion of the Directors in the furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated Funds comprise Unrestricted Funds that have been set aside by the Directors for a particular purpose.
Restricted Funds are funds that are to be used in accordance with specific restrictions as imposed by the donor/s, or which have been raised by the charity for a particular purpose.
## **Income Recognition Policy**
Items of income are recognised and included in the accounts when all of the following criteria are met **:**
- The charity is entitled to the funds
- Any performance conditions attached to the item of income has been met or are fully within the control of the charity
- There is sufficient certainty that the receipt of the income is considered probable; and
- The amount can be measured reliably
## **Donated Services and facilities**
In accordance with the Charities SORP (FRS 102), the general volunteer time of supporters is not recognised.
## **Expenditure and irrecoverable VAT**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
- Expenditure on charitable activities includes the purchase of foodstuff for delivery to those in need
- Other Expenditure represents those items not falling into any other heading
Page 10
Docusign Envelope ID: 0215F361-F77E-48B8-A090-694C1DDF3611
## **Liberty Church Mid-Ulster Company limited by guarantee**
## **Notes to the financial statements**
**Year ended 31st March 2025**
## **Continued…..**
The charity is not registered for VAT; all VAT incurred on purchases is therefore irrecoverable. The cost inclusive of VAT is therefore charged to the income and expenditure account against the activity for which the expenditure was incurred.
## **Tangible assets**
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment 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 impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
## **Depreciation**
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates. Basis of depreciation calculations:
- Building (Leasehold) 10% Reducing Balance
- Equipment 25% Reducing Balance
- Fixtures, fitting and 10% Reducing Balance furniture
## **Impairment**
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
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 cashgenerating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
## **Stocks**
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Page 11
Docusign Envelope ID: 0215F361-F77E-48B8-A090-694C1DDF3611
## **Liberty Church Mid-Ulster Company limited by guarantee**
## **Notes to the financial statements Year ended 31st March 2025**
## **Continued…..**
## **Government grants**
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future performancerelated conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
## **Financial instruments**
Basic financial instruments are recognised at amortised cost. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
|**2. Voluntary Income**
Church Offerings
Donations rec'd - Drop Inn
Donations – Foodbank
Missions – Collections
Donations – Festivals
Gift Aid
Donations - Café
Delmarva Education
Donations - Rent
Counselling Income|Unrestricted
£
47,092
7,700
-
-
-
12,592
1,209
-
-
-
68,593|Restricted
£
-
-
7,073
6,281
-
-
-
10,913
157
2,915
27,339|Total
Funds
£
47,092
7,700
7,073
6,281
-
12,592
1,209
10,913
157
2,915
95,932|Prior
year
£
54,307
11,900
3,445
10,414
4,224
12,340
1,289
11,087
1,515
7,137
117,658|
|---|---|---|---|---|
Page 12
Docusign Envelope ID: 0215F361-F77E-48B8-A090-694C1DDF3611
## **Liberty Church Mid-Ulster Company limited by guarantee**
## **Notes to the financial statements Year ended 31st March 2025**
## **Continued…..**
|**3. Activities for generating funds**
Hall Hire
**4. Cost of charitable activities**
Monetary Gifts
Monetary Gifts - Alms
Visiting Speakers/ Honorarium
Kings Kids
Missionary Support
Foodbank Purchases
Foodbank - Motor Exp
Café - purchases
Outreach in Community
Counselling Services
Unite Festival
Videography & Media
Wages & Salaries
Pension Costs
Catering/ Hospitality
Resources
Conference/ Retreat
Training Courses
Missions Trips|Unrestricted
£
845
845
Unrestricted
£
3,054
-
1,000
442
300
-
-
633
40
-
-
291
43,608
2,011
958
833
-
944
4
54,118|Restricted
£
-
-
Restricted
£
-
1,106
-
-
-
4,018
245
-
-
2,700
-
-
-
-
1,519
-
-
-
5,051
14,639|
|Total
Funds
£
845
845
Total
Funds
£
3,054
1,106
1,000
442
300
4,018
245
633
40
2,700
-
291
43,608
2,011
2,477
833
-
944
5,055
68,757|
|Prior
year
£
1,250|
|---|---|---|---|---|---|---|
|||||||1,250|
|||||||Prior
year
£
917
-
1,575
31
703
3,067
464
166
134
7,948
5,168
1,800
43,128
1,650
1,780
1,169
272
1,143
9,562
80,677|
||||||||
Page 13
Docusign Envelope ID: 0215F361-F77E-48B8-A090-694C1DDF3611
## **Liberty Church Mid-Ulster Company limited by guarantee**
## **Notes to the financial statements**
**Year ended 31st March 2025**
## **Continued…..**
## **5. Running costs/ Administrative expenses**
|Rent
Insurance
Computer Bureau
Light & Heat
Repairs & Maintenance
Printing, postage & stationery
Telephone/ Broadband/ Text
Motor
Travel
Bank Charges
Bank Fees - Go Cardless
General expenses
Subscriptions
Depreciation
**6. Governance Costs**
Legal & Prof.
Accountancy
**7. Other resources expended**
Bank Interest paid
Hire Purchase interest paid|Unrestricted
£
4,930
796
642
2,204
1,225
418
818
-
-
460
390
140
522
7,746
20,291
Unrestricted
£
-
1,445
1,445|Restricted
£
11,070
-
-
741
-
49
-
-
197
-
40
-
-
-
12,097
Restricted
£
-
-
-|Total
Funds
£
16,000
796
642
2,945
1,225
467
818
-
197
460
430
140
522
7,746
32,388
Total
Funds
£
-
1,445
1,445|Prior
year
£
16,000
826
455
2,875
454
175
1,078
150
1,289
786
325
726
750
8,238
34,127
Prior
year
£
133
1,088|
|---|---|---|---|---|
|||||1,221|
||Unrestricted
£
(145)
-
(145)|Restricted
£
-
-
-|Total
Funds
£
(145)
-
(145)|Prior
year
£
-
-|
|||||-|
Page 14
Docusign Envelope ID: 0215F361-F77E-48B8-A090-694C1DDF3611
## **Liberty Church Mid-Ulster Company limited by guarantee**
## **Notes to the financial statements Year ended 31st March 2025**
## **Continued…..**
|**8. Tangible Fixed Assets**
**Cost**
At 1 April 2024
Additions
Disposals
At 31 March 2025
**Depreciation**
At 1 April 2024
Charge
Disposals
At 31 March 2025
**Net Book Value**
**At 31 March 2025**
**At 31 March 2024**
**9. Current Assets**
Cash at bank and in hand
Debtors
**10. Creditors less than 1 year**
Trade creditors
Accruals
PAYE
Credit card|Buildings
(Leasehold)
£
44,122
44,122
4,412
3,971
8,383
**35,739**
39,710|Furniture
&
Fittings
£
2,345
2,345
234
211
445
**1,900**
2,111||Equipment
£
14,365
3,482
17,847
3,591
3,564
7,155
**10,692**
10,774
**2025**
**£**
26,405
5,894
32,299|||Total
£
60,832
3,482
-|
|---|---|---|---|---|---|---|---|
||||||||64,314|
||||||||8,237
7,746
-|
||||||||15,983|
||||||||**48,331**|
||||||||52,595|
||||||||**2024**
**£**
32,681
3,019
35,700
**2024**
**£**
723
1,390
795
-
2,908|
|||||||||
|||||**2025**
**£**
120
790
-
-
910||||
Page 15
Docusign Envelope ID: 0215F361-F77E-48B8-A090-694C1DDF3611
## **Liberty Church Mid-Ulster Company limited by guarantee**
## **Notes to the financial statements**
## **Year ended 31st March 2025**
## **Continued…..**
|**11. Deferred Grants and Deferred Income**
At 1 April 2024
Received in year
Released in year
At 31 March 2025
**12. Reconciliation of Reserves**
Unrestricted
£
B/fwd 1 April 2024
6,682
(Deficit)/ Surplus
(6,258)
C/fwd 31 March
2025
424
**13. Trustee/ Director & Staff Costs**
Unrestricted
£
Staff wages
43,608
Staff Social Security
-
43,608|Restricted
£
78,655
603
79,258
Restricted
£
-
-
-|**2025**
**£**
52
-
(13)
39
Total
Funds
£
85,337
(5,655)
79,682
Total
Funds
£
43,608
-
43,608|**2024**
**£**
75
-
(23)
-|
|---|---|---|---|
||||52|
||||Prior
year
£
81,199
4,138
85,337
Prior
year
£
43,128
-
43,128|
The average number of persons (including Directors/ Trustees) employed by the company during the period ended 31st March 2025 was:
2025 2024 Number Number 3 3
Page 16
Docusign Envelope ID: 0215F361-F77E-48B8-A090-694C1DDF3611
## **Liberty Church Mid-Ulster Company limited by guarantee**
## **Notes to the financial statements**
**Year ended 31st March 2025**
## **Continued…..**
## **14. Disclosure of trustee and staff remuneration, related party and other transactions**
No Director/ Trustee received any remuneration or were reimbursed expenditure from the charity during the year in their capacity as Director/ Trustee (2024: £N/a).
Staff remuneration is set out in Note 13 (above).
Transactions with Connected persons – during the period under review the charity entered into arrangements for the delivery of Counselling and Videography/Media services. The arrangements with both parties - immediate family members of a director, were undertaken without the involvement of the director concerned and were entered into in accordance with the governing document: the Articles of Association. It should also be noted that the remuneration agreed for these services is well below market rate which represents excellent value for money to the directors involved.
Transactions with connected persons - the charity employed one member of staff who is a connected person, by way of marriage, to a Director/ Trustee of the charity. This employment contract was entered into in accordance with the governing document, the Articles of Association.
Transactions with connected persons – the charity employed one member of staff who is also a Director/ Trustee of the charity. This employment contract was entered into in accordance with the governing document, the Articles of Association.
## **15. Limited by guarantee**
The Liability of each member is limited to £1.00, being the amount that every member of the company, in the event of the same being wound up while he or she is a member, or within one year after he or she ceases to be a member, for the payment of the debts and liabilities of the company contracted before he or she ceases to be a member, and of the costs charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves.
Page 17