Charlty registration number 1090n NEwfowNBREDA BAPTIST CHURCH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 NEwfowNBREDA BAPTIST CHURCH LEGAL AND ADMINISTRATIVE INFORMATION Trustees Graeme Leebum Sam Haighton Brfan Davison John Robinson Andrew Courtnéy Jonny Wright Pablo Murphy Stephén Wright Charlty numb•r 109072 Audltor Harblnson Mulholland Centrepoint 24 Ormeau Avenue Betfast Co. Antrlm Northem Ireland 8T2 8HS Bank•rs Danske Bank Donegall Square Wesl Belfast Co. Antrim Northem Ireland BT16JS NEwfowNBREDA BAPTIST CHURCH CONTENTS Paga Trustees. report Independent auditorfs report st8t8ment of flnanclal advltles ststement of flnanclal poslllon Notss to th8 financial stat8rnents 9-17 NEwfowNBREDA BAPTIST CHURCH TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees present their annual report and financial statements for the year ended 31 December 2023. The finandal statements hav8 been pr8pared in accordance with the accounting pollci8s set out in note 1 to the financial statements and comply with the Charity's gov8mlng document. ObJectlve$ and actlvltles Newtownbreda Baptist Church was founded 60 years ago, as a small group of believers met in an upper room at the Inns Shops and began to pr8y over the Newtownbreda Area. The church met for many years on School Road, and then moved location lo Newtownbreda Road back in 1979. Today Newtownbreda Is known as church full of Ilfe. and it Seeks to be a church that loves Jesus first. going deep In our relationshlp wlth him, and wide in our ifflpact for God. We believe that God has placed us in this community and city 'for such a time as this.. Belfast as a clty has been known all over the world for Its divid8d past. We dream of a day when thls city Is reconciled to God and the activity of God in this city becomes headline new5 across the world. We believe God can and wlll use the local church lo Impact the city and that indeed "greater things are yel to come In this CIV. You are so w81come to join us as we gather each Sunday to go deeper in our love for Christ, and encourage on8 another to go wider in our impact fcr Him. Our vision 'God is caling us lo go DEEP AND WIDE. Deep into intimacy, the word, the spirit & Communlty. Wld8 on Mi55ion 24n, with courage & faith, living wlth a klngdom mindset, bringlng hope and life to Breda, Belfast and Beyond., The Truste85 hav8 pald due regard to guldance issued by the Charfty Commission in decldlng what activltles the Charity should undertake. Achlevefflents and parfonnance The net incomlng resources for the year amount8d to £129,916, of whlch £101,4391g attrfbutable to unrestricted reserves and £28,477 is attributable to restrlcted reserves which now stand at £180,739. Unrestricted reserves now stand at £2,398.268. To achieve ils objectives Newtownbreda Baptlst Church holds Sunday services of worshlp, provldes a varlety of other meetings for members and guests, and teaches Its members how to serve and glorify Gad. Publlc B•n•fit The Tnjstses, believe that the publlc b8nefits from Its Sunday services and weekly advltles In the education on how to serve and glorify God, Flnanclol r•vl•w The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems ar8 in place to mitigate exposure to the malor risks. NEwfowNBREDA BAPTIST CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Structurni gov•rnancè and management The Truslees who seNed during the year y￿re.. Graeme Leebum David Gordon Sam Halghton Brian Davison John Robinson Andrew Courtney Jonny Wrtght Pablo Murphy Stephen Wright Statem•nt of Trust•••' responslbllltl The Irustees are requlred to prepare the Annual R8POrt and financial statements for each financial year, which give a true and 18lr view of the state of the affairs and of the surplus or deficlt of the Church for that year and have been prepared in accordance wlth United Klngdom Generally Accepted Accounllng Practice. In pr8parlng these the trustees are required to.. - select suitsble accounting policies and apply them consistently,. make judgements and e511ma18S that are reasonabl8 and prudent: prepare the financial statements on the going concem basis unles5 it is inappropriate to presume that the church will contlnue In buslness. The trustèes are responsible for keeping proper accounting records, which disclos8 wlth reasonable accuracy at any t6me the financial position of the Church. They are also responslble for safeguarding the assets of the Church and hence for taklng re8sonabl8 St8ps for the pr8v8nllon and detection of fraud and other irregularities. The Trustees, report was 8pprov8d by th8 Board of Twstees. Graomo L00bum Trustee lo NEwfowNBREDA BAPTIST CHURCH INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF NEwfowNBREDA BAPTIST CHURCH Opinion We have audited the financial statements of Newtownbreda Baptlst Church {the 'Charity'l for the year ended 31 December 2023 which comprise the statem8nt of financial activities, the statement of financial posltion and notes to the financial ststements, including significant accounting policies. The flnancial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reportlng Standard 102 The Financial R8POrting Standard applicabl8 In the UK and Republic of Iraland (United Kingdom Generally Acceptsd Accounting Practice). In our opinlon, th8 financial statements: give a true and falr vlew of the state of the charlty's affalrs as at 31 December 2023 and of Its Incoming resources and application of resources. for the year then ended., have been property prepared in accordance wlth United Kingdom G8n8rally Accepted Accounllng Practice,. and have been prepared In accordance with the requirements of the Charities Act {Nl) 2008. Ba•ls for oplnlon We conducted our audit in accordance with Intemational Standards on Auditing IUKI {ISAs (UK)) and applicable law. Our responslblllU8s und8r those standards are further described in the Auditorfs responsibilitl8s for the audit of th8 Ilnancial sl8tementS Section of our report. We are independent of the Charity in accordance with the elhlcal requirements that are relevant to our audit of the financlal ststements in the UK, Including the FRC'S Ethical Standard, and we have fulfilled our other 8thlcal responsibilities in accordance wlth these requirernents. We bellev8 that the audlt 8vid8nc8 we have obtained is sufficient and approprlate to provide a basls for our opinion. Concluslon8 ralatlng to golng concern In auditing the financlal slat8rnents, we have concluded that the Trustees. use of the going concem basis of accounting In the preparallon of the flnancial statements is appropriate. Based on the work we have performed, have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubl on the Charity's ability to continue as a going concern for a perfod of at least twelve months from when the financlal statements ar8 authorised for issue. Our responslblllties and the r88ponslbilities of the Twsiees wlth resped to golng concern are described in the relevant sectlons of thls report. Othor Inforniatlon The other informatlon comprises th8 Infomatlon Indudad In the annual report other than the financial statements and our auditorfs report thereon. The Trustees are responsible for the other Inlomiatlon conlalned wilhin the annual r8POrt. Our opinion on the financial stalements does not cover the other infomiation and we do not expres5 any fom of assurance conclusion thereon. Our responsibility is to read the other informalion and, In doing so, consider whether th8 Other informatSon is materially incon5islent with the financial statements or our knowledge obtalned in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstaternents, we are required to determlne whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is material rnisstatement of this other information, we are required to report that fact. We have nothing to report in this regard. NEwfowNBREDA BAPTIST CHURCH INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF NEwfowNBREDA BAPTIST CHURCH Mattèrs on which we are required to report by exceptlon We have nothlng to report In respèct of the following matters In relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if. in our opinion: the infonnation given in the financial ststements is inconsistent in any material respect with the TTUStees' reporL' or suffld8nt accounting records have not been kept., or the financial statements are not in agr8em8nt wlth the accounting records., or we have not received all the information and explanations we requi￿ for our audit. R•sponslbllltles of Trustees As explained more fully In the statement of Trustees, responslblllties. the Trustees are responsjble for th8 preparatlon of the financial statements and for being satisfied that they glve a true and falr vlew, and for such intemal control as the Trustees determine is necessary to enable the pr8paration of financial statements that are frge from material misstatement, whether due lo fraud or error. In preparing the fin8nci81 statements, the Trustees are respC￿S1bI8 for assessing the Charity's ability to continue as a going concern, disclosing, as applicable. rnatters related to going concern and uslng the golng concern basls of accounting unless the Truslees either Intend lo cease operations. or have no realistlc alt8rnatlve but to do so. Audltorfs rnspongibilities for the audlt of the flnanclal statement• Our objectives are to obtain reasonable assurance about whether the financial statements as a who18 are free from material mlsstatement, whether due to fraud or error. and to issue an audltoVs report that Includes our opinion. Reasonable assuran¢e 15 a hlgh level of assurance bul 55 not a guarantee that an audlt ccnducted in accordance with ISAS (UK) will always d8t8Ct a material misstatement when It exlsts. Misstatemenls can arise from fraud or error and are consldered material if. individually or in the aggregate. they could reasonably be expected to inlluence the economic decisions of user5 taken on the basls of these financial statements. Irregularities, includlng fraud, are Instances of non-compllance wlth laws and regulations. We design procedure5 In line with our responsibilities, outlined above, to detect material misstatements in respect of irregularilies, including fraud. Tha extent to which our procedures are capable of detecting irregularitles. Including fraud, is d8lalled below. NEwfowNBREDA BAPTIST CHURCH INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF NEwfowNBREDA BAPTIST CHURCH Our approach to identifying and assessing th6 risks of material misststement in respect of Imgularities, including fraud and nonoompliance with laws and regulations, was as follows.. the engagement partner ensured that the engagement team collectively had the appropriate competsnce, capabillties and skills to Identify or r8cognls8 non-compliance with applicable laws and regulations. we identified the laws and regulations applicable to the company through discussions wlth diredors andlor senior management, and from our commercial knowledge and experience of the sector; We focused on specific laws and regulations which we considered may have a direct materlal effect on Ihe financial statements or the operations of the company, including the Charitie5 Act (NII 2008, taxation legislation, data protection, anti-bribery, employment, environmental and health and saf8ty legislation • we 8ssess8d th8 extent of comp118nce wlth the laws and regulations Identlfi8d abov8 through maklng enquiries of management and inspecting legal correspondence.. and Identified laws and regulation5 wer8 communicated within the audit team regularty and th8 team remained alert to instances of nonwcompli8nce throughout the audit. We as58ssed th8 SU5ceptlblllty of th8 companws flnanclal statements to materlal misstatement, Includlng obtalnlng an understsndlng of how fraud mlght occur, by: making enquiries of management as to where they consldered there was susceptibility to fraud. thelr knowledge of actual, suspected and alleged fraud., and considering the internal controls in place to mitigate risks of fraud and non-cornpliance with 18W5 and regulatlon8', To address the risk of fraud through management blas and overrfde of controls, we.. perfomied analytlc81 procedures to Identtfy any unusual or unexpected r81ation8hips; tested joumal entries to identify unusual Iransactlons., assessed whether judgements and assumpts'ons made in determlnlng the accounting 8stlmates set out in Note 2 were indicative of potential bias., and Investlgated Ihe ratlonale behlnd slgn6fic8nl or unusual transactions,. In response to the rlsk of Irr8gularltles and non-Gompliance wlth laws and regulations, we deslgned pro¢edures which Included, but were not Ilmlted lo.. agreelng financlal statement dlsclosures to underlylng supporting documentstlon., reading the minutes of rneelings of those charged with govemance., enqulring of management as to actual and potential litigation and claim5', and reviewing correspondence with HMRC and the companys legal a(ivisors', There are inherent Ilmitations In our audlt procedures described above. The more removed that laws and regulations are from financial transactions, the less likely It is that we would become aware of non-compliance. Auditing standard5 also Ilmll the audlt procedures required lo identify non-compliance with laws and regulations to enquiry of the director5 and other management and the inspeotion of regulatory and legal correspondence, rf any. Matorlal misstatements that arise due lo fraud can be harder to detect than Ih05e that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities is available on the Financlal Reporting Council's websile at- htty)$.'Il vhvw.frc.org.ukJauditorsresponsibililies. This description forms part of our audito￿$ report. NEwfowNBREDA BAPTIST CHURCH INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF NEwfowNBREDA BAPTIST CHURCH Usé of our report This report is made solely to the company's members, as a body, in accordance with section 65 of the Charities Act (NI) 2008. Our audit work has been undertaken so that we might state to thé company's members those matters we are requlred to state to them in an audltor's réport and for no other purpose. To the full8St extent permitted by law, we do nol accept or assume responsibility lo anyone other than the cornpany and the company's members as a body, for our audit work. for this report, or for the oplnSons have formed. Tla G_ Angola Cralgan (Senlor Statutory Audllorl for and on behalf of Harblnson Mulholland 2911012024 Charterod Accountants statutory Audltor Centrepolnt 24 Ormeau Avenue Belfast Co. Antrlm Northem Ireland BT2 8HS Harblnson Mulholland is eligible for appolntment as auditor of the Charlly by virtue of Its eligiblllty for appolntment as auditor of a company under section 1212 of the CompaniesAct 2006. NEwfowNBREDA BAPTIST CHURCH STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrostrlcted Restrlcted funds funds 2023 2023 Total Unrostricted Restrlcted funds funds 2022 2022 Total 2023 2022 Notes Income from: Donations and legacles Charltable activities 680,305 4S,902 45,432 5,600 725,737 51,502 638,558 19,682 192,076 4,569 830.834 24.251 Total Income 726,207 51,032 777,239 658,240 196,645 854,885 Expendlturn on: ChaTItBble actlvltle8 501,668 145,655 647.323 448,603 140,970 589,573 Total exp•ndltur• 501,668 145,655 647,323 448,603 140,970 589,573 Net Incomo1(•xp•ndlture) 224.539 (94,6231 129,916 209,637 55.675 265,312 TrBnsfers between funds 1123,1001 123,100 126,913) 26,913 Net movement In funds 101,439 28,477 129,916 182.724 82,588 265,312 Roconclllatlon of funds: Fund balances at 1 J8nu8ry 2023 2,296.829 152,262 2,449,091 2,114,105 69.674 2.183,779 Fund balances at 31 Docomber 2023 2,398,268 180,739 2,579,007 2,296,829 152,262 2,449,091 The statement of financial activltle3 Includes all gains and losses re￿niSed In th& year. All Income and expenditure derfve from continuing activities. NEwfowNBREDA BAPTIST CHURCH STATEMENT OF FINANCIAL POSITION ASAT31 DECEMBER 2023 2023 2022 Notes Flxed assets Tanglbl8 assets 11 1,682.834 1,688,369 Current assets Oebtors Cash 8t bank and in hand 12 52.518 855.043 108,319 665.352 907,561 773,671 Crodltor•: amounts falllng duo wfthln oft• yaar 13 (11,388) (12.948) Net current assets 896,173 760,723 Total a880ts1088 curront Ilabllltl•• 2,579,007 2,449,092 Income funds Restricted funds Unrestricted funds 14 180,739 2.398,268 152.262 2,296.829 2,579,007 2,449,091 The financial statements were approved by the Trustees on ...... Graeme Leebum Trust•• NEwfowNBREDA BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcles Charlty Informallon Newtownbreda Baptist Church is a charity based In Northern Ireland. 1.1 Aecountlng conventlon The financlal stateménts have been Prepared In accordance with the Charity's governlng document. The financial staternents are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial Statements are rounded to the nearest £. The flnancial 5t8tem8nts have b88n prepared under the historical cost conventlon, The prlncipal accountlng policies adopted 8re $8t out below. 1.2 Golng conc•rn At the time of approvlng the flnanclal statements. the Trustees have a reasonable expectation that the Charily has adequate resources to continu8 in operational existence for the foreseeable future. Thus the Trustees contlnu8 to adopt the going concern basis of accounting In preparlng the flnancial statements. 1.3 Charltable fundB Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectiV8S. Reslrict8d funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the reslrlcted funds are set out In the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be rnalntained by the Charity. 1.4 Income Income is recognlsed when the Charity is legally enlltled to It after any performance condltlons have bean met, the amounts can be measured reliably, and it is probable th8t inGome wlll be r8ceiv8d. Cash donations are recognised on rec8lpt. other don8tlons are r8cognlsed once the Charity has b88n nollfied of the donation, unless performance conditions requlre deferral of the amount. Income tax recoverable in relation to donations recelved under Glft Aid or deeds of covenant is recognised at the tlme of the donatlon. Legacies are recognised on receipt or othepNise if the Charity has been notified of an impending distribution, the amount 15 known, and receipt Is expected. If th8 amount Is not known, the legacy is treated as a contingent asset. 1.5 Expenditure Expendltur81s recognised on an accruals basis as a liability is incurred. Funding provided through contractual agreements and performance related grants are recognised as goods and serviced are supplied. Other grant payments ar8 r8cognlsed when a constructive obligation arlses that r8suIts in Ihe payment being unavoidable. Costs of g8nerating fijnds are those costs incurred in attractlng voluntary income, and these incurred in trAding Ar,tivitip.8 that rai.8p. flind8 NEwfowNBREDA BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollclas {Continued) 1.6 Tanglbla flxed assets Tangible fixed assets are inltially measurèd at cost and subsequently measured at cost or valuation. net of deprèciatlon and any impairmenl losses. Depreciation 1$ recognised so as to wrlte off Ihe cost or valuation of assets less thelr residual values over their useful Ilves on the following bases.. Fixtur8s and fittlngs 100h straight line The gain or loss arising on the disposal of an asset is determined a5 the dlfference be￿een the sale proceeds ond the carying value of the asseL and is recognised in net incomel(expenditure) for the y8ar. 1.7 Impalrni•nt of flxed assets At each reportlng end date, the Charity reviews the carylng amounts of its tangible assets to d8termlne whether there is any indlcatlon that thos8 assets have suffered an impaSrm8nt loss. If any such Indlcation exists, th8 r8coverable amount of the asset is estlmated In order to determine the extent of the impairment loss (if any). 1.8 Cash and cash equlvalents Cash and cash équivalents include cash in hand, deposits held at call with banks, other short-tsm liquld investrnents with original maturities of three months or les5, and bank overdrafts. Bank overdraft5 are shown within borrowings Sn current liabilit18S. 1.9 Flnanclal instruments The Charity has elected to apply the provisions of Section 11 'Basic Flnanclal Instruments, and Sectlon 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instrurnents. Financial instruments are recognised in the Charity's balance sheet when the Charlty becomes party to the ntraGtual provisions of the instrument. Financlal assets and liabilities are offset, wSth the net amounts presented in the financial statements. when there is a legally enforceable right to set off the recognised amounts and there is an intentlon to settle on a net basis or to realise the asset and settle the liability simultsneously, Basic flnanclal ass•ts Basic financial assets, whlch include debtor$ and cash and bank balances, are inltially measured at transaction price including transaction cosls and are subsequently carried at amortised cost using the effective inlerest method unless the arrangement constitutes a finanGing transaction, where the transaction is measured at the present value of the future receipts dlscounted at a market rate of interest. FinanGial assets dassified as recelvable within one year are nol amortised. Basic financlal Ilabllltles Basic financial liabilities, including creditors and bank loans are initially recognised at transacllon prlce unless the arrangement constitut8s a flnancing Iransaction, where the debt in51nJm8nt is measured at the Present value of the future payments discounted at a market rale of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subs8quently carried at amortlsed cost, using th8 effective int8rest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due withln one year or less. If not, they are present8d as non Share of gov8manc8 COSts158e note 6) 280,778 2.700 238,230 2,700 647,323 589.572 Anatysls by fund Unrestricted funds Restricted funds 501,668 145,655 448,602 140,970 647.323 589,572 Support costs Support Gov•mance ¢osts costs 2023Support costs Govemance costs 2022 Stsff costs Depreclatlon Staff expen8es 241,866 29,183 9.728 241,866 29,183 9,728 178,360 26,818 33,051 178,360 26,818 33.051 Govemance 2,700 2.700 2,700 2,700 280.778 2.7th) 283,478 238,230 2,700 240,930 Analysed b8tW8en Charitable activities 280.778 2.700 283,478 238.230 2.700 240.930 Net movement In funds 2023 2022 The nel movement in funds is statsd after charglngl(cr8diting): Fees payable for the audit of the charty's finandal stat8m8nts Depredatlon of owned tangible fixed assets 2,700 29,183 2,700 26,818 13- NEwfowNBREDA BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees Three of the TTUStees received remuneration amount to £125,047 (2023: £98.300) during the year for their dutiès as employees. Employaos The average monthly number of employees during th8 year was: 2023 Numb6r 2022 Number 10 10 Employment costs 2023 2022 Wages and salarf8S 241,867 178,361 There V￿re no employees whose annual remuneratlon wa5 rnore than £80.000. Remun•ratlon of koy management por8onnel The remuneration of key management personnel was as follows.. 2023 2022 Aggregate compensatlon 91,075 65,829 Key management personnel comprise the Executlve Pastor and the Lead Pastor. 10 T8xatlon The charlty Is exempt from taxatlon on Its a¢tlvllle8 ba￿uSe all its income is applied for charltable purposes. 14- NEwfowNBREDA BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 11 Tanglble flx•d ass•ts Freehold land Fi￿Ur•S and and bulldlngs flttlngs Totsl Cost At 1 January 2023 Additions 1,500,000 268.181 1,768,181 23,648 23,648 At 31 December 2023 1,500,000 291,829 1,791,829 Depr•clatlon and Impalmi•nt At 1 January 2023 Depreclation charged In the year 79,812 29,183 79,812 29,183 At 31 D8cemb8r 2023 108,995 108,995 Carrylng arnount At 31 Decernber 2023 1.500,000 182,834 1,682,834 At 31 December 2022 1.500,000 188,369 1.688,369 12 Debtorn 2023 2022 Amounts falllng duo wlthln ono y•ar: Trade debtors 52,518 108,319 13 Cr•dttors: amounts falllng due wlthln ono yoar 2023 2022 Trade credltors Other creditors Accruals and deferred Income 2,107 1,181 8,100 6,643 905 5,400 11.388 12,948 15- NEwfowNBREDA BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 14 Restricted funds The restricted funds of the charlty comprise th8 unexpénded balances of don8tions and grants held on trust subject to speclfic conditions by donors as to how they may be used. Movement In fund8 IncomSng Re￿UT¢o8 ourc•s •xp•nd•d B#lane• at l Januwy 1023 Tr•n8f•r* Balanc• at 31 D•c•mber 2023 Missions Bullding fund Designated Inlout funds 37,602 29,678 84,982 28,817 5,600 16,615 (132,319) 123,100 57,200 35,278 88,261 (13.336) 152,262 51,032 {145,655) 123,100 180,739 15 Unrestrlcted fund8 The unrestricted funds of the charity comprise the unexpended balances of donations and grants whlch ar8 not subject to specific condltlons by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specthc purposes. At 1 January 2023 Incomlng resources Resourc08 exponded Transfer8 At31 Docember 2023 General fund3 2,296,829 726,207 (501,668) (123,1001 2,398,268 Prevlou8 year: At 1 January 2022 Incoming R•sourc•8 r•sourcos gxpend•d Transfers At31 December 2022 General funds 2.114,105 658.240 (448,603) (26,9131 2,296,829 16 Analysls ol net assets between funds Unrestricted Restrlctsd fund5 funds 2023 2023 Total Unrestricted fijnds 2022 Restricted funds 2022 Total 2023 2022 Fund balances at 31 De￿mber 2023 are represented by: Tangible assets Current assetsl{liabilities) 1.682,834 715,434 1,682,834 898,173 1.688.369 608.460 1,688,369 760,722 180,739 1 $2.262 2.398,268 180,739 2,579,007 2,296,829 152.262 2,449,091 NEwfowNBREDA BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 17 Relatsd party transactlons Trusteès. remuneration and expenses are d8tai18d In not8 8. Rèmuneratlon and expenses paid to trustees relates Solely to their duties as employees. These were the only related party transactlons In the year ended 31&t December 2023. 17-