Company Registration No. NI698244 (Northern Ireland)
PORTRUSH PENTECOSTAL CHURCH LIMITED
(Being a company Limited by Guarantee and not having Share Capital)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
IDS Chartered Accountants LLP
23/25 Queen Street
COLERAINE
Co Londonderry
BT52 1BG
PORTRUSH PENTECOSTAL CHURCH LIMITED
CONTENTS
Page
Legal and administrative information
1
Trustees' report
2 - 4
Independent examiner's report
5
Statement of financial activities
6
Balance sheet
7
Notes to the financial statements
8 - 12
PORTRUSH PENTECOSTAL CHURCH LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
- 1 -
Trustees
Mrs S B Lyons
Mr J Swinney
Mrs M A Swinney
Mr J J Lyons
Charity number (Northern Ireland)
NIC110048
Company number
NI698244
Registered office
13 Hamilton Place Lane
PORTRUSH
Co Antrim
BT56 8DP
Independent examiner
IDS Chartered Accountants LLP
23/25 Queen Street
COLERAINE
Co Londonderry
BT52 1BG
Bankers
Danske Bank
Donegall Square West
BELFAST
BT1 6JS
PORTRUSH PENTECOSTAL CHURCH LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE PERIOD ENDED 30 JUNE 2024
- 2 -

The Trustees present their annual report and financial statements for the Period ended 30 June 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the company's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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 UK and Republic of Ireland (FRS 102)".

Objectives and activities

The company's objects are the advancement of the Christian Religion by the proclamation and furtherance of the Gospel of God concerning His Son Jesus the Lord and the preaching and teaching of the Word of God under the auspices of the Assembly in accordance with the statement of truths of Portrush Pentecostal Church. Such other charitable purposes as shall further the attainment of the above objectives of the Assembly or any of them. The furtherance of the work of Portrush Pentecostal Church, the promotion of the spiritual teaching and the maintenance of the statement of truths of Portrush Pentecostal Church.

Public benefit

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the company should undertake.

Achievements and performance
Significant activities and achievements against objectives

In our previous report for the year ending March 2023, we reported that the affects of Covid 19 had caused us to consider how we delivered “Church”.  Whilst maintaining a small core, in person attendance on Sundays and Tuesdays, we have developed and online presence which is being of use weekly by between 20 and 140 persons.  This is now challenging us to deliver as well as we can and, upskill those responsible and ensure all ‘online’ requirements are being met.  The pastor and congregation have maintained meaningful contact with members of the congregation via regular phone calls and live WhatsApp/messenger calls. Our weekly Bible study and worship has been broad cast via Facebook. This has created a wide range of interest from people not connected directly with the church and they are responding with prayer requests and conversation/befriending.

 

Accommodation

We continue to meet primarily at the church owned building in 13 Hamilton Place, Portrush. Work is always ongoing to maintain these facilities to a safe and useful standard as required.

Public benefits statement

It is important that as a church we maintain our responsibilities to Charity Law and our governance documents therefore we will review our public benefits statements and governing documents in the coming year.

 

This accounting period has begun to demonstrate the financial effects of the Covid 19 Pandemic. The church, in order to maintain its buildings has continued supply, heat etc., and maintained a meeting place for its members for the time when we will be meeting once more with the general public in accordance with the fulfilment of the organisations aims and purposes as defined in the public benefit statement.

PORTRUSH PENTECOSTAL CHURCH LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
- 3 -

In keeping with the organisations aims we have run events and meetings online to proclaim the Gospel, offer physical, emotional and spiritual support to the community in which we sit.

 

As we have been unable to meet we have been unable to maintain our charitable fundraising events to support other organisations achieve their objectives in a charitable manner. We have purchased necessary services to run the building safely and efficiently administer the day to day life and work of the church as well as insure and furbish the property appropriately.

 

We have purchased outreach materials for distribution and bought educational materials and equipment. In the course of the year we have bought essential food and health items for those who have expressed significant need.

 

We give thanks for the continued love of God, the love and fellowship between the members and friends and are committed to continued reaching out to the community to be a support and help and beneficial part of this community in Portrush and beyond.

 

Thank you to every member and friend for your continued love, practical and financial support.

Financial review

Income

Total income this period was £9,324.

 

Expenditure

Total expenditure this period was £20,202. As we return to more face to face meetings, the running costs of the premises continue to rise. As ever we will continue to monitor expenditure.

 

Net movement in funds

Overall we have a deficit for the period of £10,878. We are meeting the running costs of the church and have a healthy cash at bank and in hand balance of £271,692 at the year end.

Reserves policy

It is the policy of the company that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the company’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the Period.

Structure, governance and management

The company is a company limited by guarantee.

The Trustees, who are also the directors for the purpose of company law, and who served during the Period and up to the date of signature of the financial statements were:

Mrs S B Lyons
Mr J Swinney
Mrs M A Swinney
Mr J J Lyons

 

PORTRUSH PENTECOSTAL CHURCH LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
- 4 -

The Trustees' report was approved by the Board of Trustees.

Mrs S B Lyons
Mr J Swinney
Director
Director
6 January 2025
PORTRUSH PENTECOSTAL CHURCH LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF PORTRUSH PENTECOSTAL CHURCH LIMITED
- 5 -

I report on the financial statements of the company for the Period ended 30 June 2024, which are set out on pages 6 to 12.

Respective responsibilities of charity Trustees and examiner

As the charity Trustees (and also the directors of the company for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the company are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, it is my responsibility to:

Basis of independent examiner's report

I have examined your charity financial statements as required under section 65 of the Charities Act (Northern Ireland) 2008 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 financial statements presented with those records. It also included consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as charity trustees concerning any such matters.

My role is to state whether any material matters have come to my attention giving me cause to believe that:

Independent examiner's statement

Since the company’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 65 of the Charities Act (Northern Ireland) 2008. I confirm that I am qualified to undertake the examination because I am a member of Chartered Accountants Ireland, which is one of the listed bodies.

I have completed my examination and I 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.

Alison Wallace (FCA)
IDS Chartered Accountants LLP
23/25 Queen Street
COLERAINE
Co Londonderry
BT52 1BG
6 January 2025
PORTRUSH PENTECOSTAL CHURCH LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE PERIOD ENDED 30 JUNE 2024
- 6 -
Unrestricted
funds
13 months ended 30 June 2024
Notes
£
Income and endowments from:
Donations and legacies
3
8,490
Investments
4
834
Other income
5
271,692
Total income
281,016
Expenditure on:
Charitable activities
6
20,202
Total expenditure
20,202
Net income and movement in funds
260,814
Reconciliation of funds:
Fund balances at 16 June 2023
-
Fund balances at 30 June 2024
260,814

The statement of financial activities includes all gains and losses recognised in the Period. All income and expenditure derive from continuing activities.

PORTRUSH PENTECOSTAL CHURCH LIMITED
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 7 -
13 months ended 30 June 2024
Notes
£
£
Current assets
Cash at bank and in hand
260,814
Net current assets
260,814
The funds of the company
Unrestricted funds
11
260,814
260,814

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the Period ended 30 June 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 6 January 2025
Mrs S B Lyons
Mr J Swinney
Director
Director
Company registration number NI698244 (Northern Ireland)
PORTRUSH PENTECOSTAL CHURCH LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
- 8 -
1
Accounting policies
Charity information

Portrush Pentecostal Church Limited is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 13 Hamilton Place Lane, PORTRUSH, Co Antrim, BT56 8DP.

1.1
Accounting convention

The financial statements have been prepared in accordance with the company's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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 UK and Republic of Ireland (FRS 102)". The company is a Public Benefit Entity as defined by FRS 102.

 

The company has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4
Income
Income is recognised when the company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the company has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

PORTRUSH PENTECOSTAL CHURCH LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 9 -
1.6
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest 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 within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.7
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Critical accounting estimates and judgements

In the application of the company’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

PORTRUSH PENTECOSTAL CHURCH LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
- 10 -
3
Income from donations and legacies
Unrestricted
funds
13 months ended 30 June 2024
£
Donations and gifts
8,490
4
Income from investments
Unrestricted
funds
13 months ended 30 June 2024
£
Interest receivable
834
5
Other income
Unrestricted
funds
13 months ended 30 June 2024
£
Funds on incorporation
271,692
PORTRUSH PENTECOSTAL CHURCH LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
- 11 -
6
Expenditure on charitable activities
Charitable expenditure
13 months ended 30 June 2024
£
Direct costs
Pastoral wages
7,800
Ministry
200
Repairs
342
Gifts
600
Insurance
915
Light & Heat
3,652
Telephone
657
Rates
355
Printing, postage & stationary
126
Conference
2,850
Bank fees
82
Sundry
1,363
18,942
Share of support and governance costs (see note 7)
Governance
1,260
20,202
Analysis by fund
Unrestricted funds
20,202
7
Support costs allocated to activities
13 months ended 30 June 2024
£
Governance costs
1,260
Analysed between:
Charitable expenditure
1,260
8
Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the company during the Period.
PORTRUSH PENTECOSTAL CHURCH LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
- 12 -
9
Employees

The average monthly number of employees during the Period was:

13 months ended 30 June 2024
Number
1
There were no employees whose annual remuneration was more than £60,000.
10
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

11
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions 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 specific purposes.

At 16 June 2023
Incoming resources
Resources expended
At 30 June 2024
£
£
£
£
General funds
-
281,016
(20,202)
260,814
12
Related party transactions

There were no disclosable related party transactions during the Period.

13
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each ember to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

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