Islington United Reformed Church Financial Statement for the year Ending 31 December 2023 Statement Of Assets And Liabilities |||Unrestricted|Designated|Restricted|2023| |---|---|---|---|---|---| ||Notes|Funds£|Funds£|Funds£|Funds£| |**RECEIPTS**|||||| |Offerings||£4,954.00|||£4,954.00| |Monies raised for outside causes|3|||£325.00|£325.00| |Property rentals -church/hall users||£26,912.80|||£26,912.80| |Commercial Property rental||£41,000.00|||£41,000.00| |Claremont Project||£15,612.98||£4,387.02|£20,000.00| |Investment Income||£15,229.00|||£15,229.00| |Interest||£49.35|||£49.35| |**Total Receipts**||£103,758.13||£4,712.02|**£108,470.15**| |**PAYMENTS**|||||| |Support of outside causes|4|||£4,712.20|£4,712.20| |Maintenance of the Ministry||£51,660.00|||£51,660.00| |Salaries||£13,335.26|||£13,335.26| |Ministry and Worship|5|£4,875.54|||£4,875.54| |Church running cost|6|£22,435.50|||£22,435.50| |Manse Cost|7|£7,161.93|||£7,161.93| |**Total Payments**|||||**£104,180.43**| |**Net Receipts/Payments**|||||**£4,289.72**| |**Total Monetary Assets**|9||||**£70,047.35**| |Approved by the Trustees on|
10/10/2024||||| |signed on their behalf by|David Brain||||| ||name||signature||| The notes on pages 2,3,4 form part of this Financial statement ## Islington United Reformed Church Financial Statements For The Year Ending 31 December 2023 NOTES |1|Accounting Policies|Accounting Policies||||| |---|---|---|---|---|---|---| ||The financial statements have been prepared with the charities Act 2011 section 1|||||| ||and payments basis available to small charities and the United|||Reformed Church guidance||| |2|Fund Accounting|||||| ||Unrestricted Funds may be used by the||church for any of the ordinary purposes|||| ||Designated Funds represent unrestricted funds set aside by the church for specific designated|||||| ||purposes,they can be transferred back into general funds at the church's decision.|||||| ||Restricted Funds represent income which may be expended only on those restrictesd objects|||||| ||bequest or donations or grants received or invited for a specific|||purpose.||| ||They can only be spent on the specific purpose for which they were given. Any balance remaining|||||| ||as a balance on the fund for future expentiture on the specific purpose or returned, if||||cannot be spent.|| |3|**Monies raised for outside causes**|||||| |||Unrestricted|Designted Restricted|2023|2022|| ||Commitment for Life||325|£325.00||| ||**Total**|||**£325.00**||| |4|**Monies donated to outside causes**|||||| |||Unrestricted|Designted Restricted|2023|2022|| ||Commitment for Life||£325.00|£325.00||| ||Claremont Project||£4,387.02|£4,387.02||| ||**Total**||£4,712.02|**£4,712.02**||| |5|**Ministry and Worship**|||||| |||Unrestricted|Designted Restricted|2023|2022|| ||Preaching|£1,330.00||£1,330.00||| ||Pianist|£2,480.00||£2,480.00||| ||Travel Bills|£579.48||£579.48||| ||Worship supplies etc|£775.80||£775.80||| ||**Total**|£5,165.28||**£5,165.28**||| |6|**Church running cost**|||||| |||Unrestricted|Designted Restricted|2023|2022|| ||Utilities|£13,160.97||£13,160.97||| ||Insurance|£3,462.97||£3,462.97||| ||Inspections|£641.40||£641.40||| ||Running cost|£3,379.37||£3,379.37||| ||Repairs & maintenanc|£1,790.79||£1,790.79||| ||**Total**|||**£22,435.50**||| |7|**Manse Cost**|||||| |||Unrestricted|Designted Restricted|2023||| ||Repairs & maintenanc|£1,722.52||£1,722.57||| ||Running cost|£4,974.00||£4,974.91||| ||Insurance|£464.45||£464.45||| ||**Total**|||**£7,161.93**||| |8|**Fund disposition**|||||| |||31/12/2023||||| ||CAF Bank account|||||| ||Net debtors|£0.00||||| ||Cash and equivalent|£0.00||||| |9|**Monetary Assets**|||||| ||Cash|||£0.00||£0.00| ||Bank Account|||||£70,047.35| **Notes continued** 10 ## **Assets used for church purposes** The Church and associated buildings are vested in URC Thames North Trust as trustees and are not church assets. They are held for the church's benefit in accordance with the statutory trusts applicable to URC properties under the URC Acts. For Insurance purposes the church and associated properties are insured by the Church for £2,891. The church contents are insured by the church for £94,194. 11 ## **Investments held for Church Purposes** Investments are held under 2 of the United Reformed Church Act 1972 by URC Thames North trust The Capital and income from these investments are not available to Islington URC unless authorised by Thames North Synod. The synod had authorised the release of income for the year. The details of the investments are ## **Market value at 31 December 2023** ||COIF Fixed Interest|78,556| |---|---|---| ||Blackrock UK Bond|57,031| ||CAF Fixed Interst|55,177| ||COIF Ethical Investment|189,219| ||BlackRock UK Equity income|167,290| ||Total|547,273| |12|**Rounding**|| ||Due to rounding some columns may not total exactly.|| 13 **Charity registration** Islington United Reformed Church is registered with the Charity Commission Charity registration number: 1170358 Islington United Reformed Church Financial Statements For The Year Ending 31 December 2023 ## **Independent Examiners Report** I report on the financial statements of Islington URC for the year to 31 December 2023 ## **Respective responsibilities** The church is responsible for the preparation of the financial statements, and considers that the audit requirement of section 144(2) of the Charities Act 2011 (the Act) does not apply It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under Section 145(5)(b) of the Act, whether particular matters have come to my attention. ## **Basis of Independent Examiner's report** My examinstion was carried out in accordance with the General Directions of the charity Commisioners. An examination includes a review of the accounting records kept by the church and a comparison of the accounts presented with those records. It also includes considerations of any unusual items or disclosures in the financial sttements, and seeking explanations concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the financial statements. ## **Independent Examiner's statement** In connection with my examination of the church funds, nothing came to my attention which gave me cause to believe otherwise than that the financial statemnts accord with the accounting records of the church, and that those records satisfied the requirements of the Act. I am not aware if any matter to which attention should be drawn in order to enable proper undertaking of the financial statements to be reached. ## **Signed by the Independent Examiner:** **Date:** ## **Name and Address of the Independent examiner:**