All Souls' Church incorporating The Second Presbyterian Congregation of Belfast and The York Street Non-Subscribing Presbyterian Congregation
Financial Statements for the year ended 31st December 2023
All Souls' Church incorporating The Second Presbyterian Congregation of Belfast and The York Street Non-Subscribing Presbyterian Congregation
Receipts and Payments Account for the year ended 31st December 2023
| Receipts Voluntary giving Donations & Bequests Fundraising Gift Aid Investment Income Rental Income Sundry Income Payments Cost of Fundraising Charitable Activities Governance Costs Before transfers between funds Transfers between Funds Net Operating Surplus/ (Deficit) |
Unrestricted Restricted Endowment Funds Funds Funds £ £ £ 33,181 0 3,720 366 0 367 0 0 4,194 0 0 30,049 0 0 27,740 0 0 1,200 |
Total 2023 £ 33,181 4,086 367 4,194 30,049 27,740 1,200 |
Total 2022 £ 28,301 3,150 258 4,228 24,249 22,629 0 |
|---|---|---|---|
| 100,451 366 0 |
100,817 |
82,815 |
|
| 0 0 0 87,747 0 0 0 0 0 |
0 87,747 0 |
0 75,102 0 |
|
| 87,747 0 0 |
87,747 |
75,102 |
|
| 12,704 366 0 0 0 |
13,070 0 |
7,713 0 |
|
| 12,704 366 0 |
13,070 |
7,713 |
The reconciliation of the receipts and payments shown above to the total funds of the Church is disclosed on the following page under the Statement of Assets and liabilities
| Note of movements in purchase and | disposal of the Bank Term Deposits portfolio not reflected above Unrestricted Restricted Endowment Total Total Funds Funds Funds 2023 2022 £ £ £ £ £ 148,917 148,917 65,773 (148,917) (148,917) (60,000) |
|---|---|
Proceeds of Term Deposits Maturity Re-Investment in Term Deposits Retained/(Released) in Bank |
|
| 0 0 5,773 |
|
Page 1
All Souls' Church incorporating The Second Presbyterian Congregation of Belfast and The York Street Non-Subscribing Presbyterian Congregation Statement of Assets & Liabilities
Reconciliation of Receipts and Payments Account
| Unrestricted Funds £ Opening Funds at beginning of year 674,436 Surplus/ (Deficit) for the year 12,704 687,140 Purchase of Investments in year Increase/ (Decrease) in Value (42,262) Interest on Maturity of Term Deposits 2,417 Closing Funds at end of year 647,295 Held as followings: Ulster Bank Bank Deposit term Accounts Investments: M & G Charifund |
Unrestricted Funds £ 674,436 12,704 |
Restricted Funds £ 905 366 |
Restricted Funds £ 905 366 |
Endowment | Endowment | Total 2023 £ 683,545 13,070 |
Total | Total | Total 2022 £ 696,603 7,713 |
Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Funds | 2023 | 2022 | |||||||||
| £ 8,204 0 |
|||||||||||
| s | 687,140 (42,262) 2,417 |
1,271 0 |
8,204 | 696,615 30,000 (42,262) 2,417 |
704,316 (21,545) 774 |
||||||
| 647,295 | 1,271 | 8,204 | 686,770 |
683,545 |
|||||||
| 2023 2022 43,611 60,540 148,917 146,500 494,242 476,505 |
2022 | ||||||||||
| 686,770 683,545 |
The investments in M&G Charitfund are managed by M&G.
M & G Charifund objectives and investment approach can be found on their website.
Non-monetary Assets (not included above)
| Church & Contents Hall & Contents Interest in residential Property |
Unrestricted Funds 5,539,269 1,545,843 45,000 |
Restricted Funds 0 |
Restricted Funds 0 |
Endowment Total Total Funds 2023 2022 0 5,539,269 5,215,884 1,545,843 1,455,596 45,000 45,000 |
Endowment Total Total Funds 2023 2022 0 5,539,269 5,215,884 1,545,843 1,455,596 45,000 45,000 |
Total | Total | |
|---|---|---|---|---|---|---|---|---|
| 2022 | ||||||||
| 7,130,112 | 0 | 0 7,130,112 6,716,480 |
The value of the Church & Hall (which have listed status) is based on the Current Insurance cover (index linked).
The charity also has an interest in residential property. The Charity's interest shown above, is based on the Land & Property Services valuation of the property.
Statement of Material Liabilities
The Trustees are not aware of any material liabilities at the date of this Report
Approved by the Trustees and signed on their behalf by:-
| Mrs L Foyle, Treasurer | Date: | 5th March 2024 |
|---|---|---|
| Rev. C Hudson | Date: | 5th March 2024 |
Page 2
All Souls' Church incorporating The Second Presbyterian Congregation of Belfast and The York Street Non-Subscribing Presbyterian Congregation
Notes to the Accounts
Basis of Accounting under Receipts & Payments
Revenue that the Charity is entitled to is recorded when received, expenditure that the Charity incurred is recorded when paid.
Purpose and nature of funds
Unrestricted fund : These are funds that have been received carrying no restriction on their use and are put to purpose at the discretion of the trustees in furtherance of the objects of the Charity. Within this fund we have designated funds. Of those which are specific to the property, the basis for making these provisions is given the age of the Church Building and the Hall and their respective listed status ,we would anticipate major expenditure in the future and require these provisions to meet the same.
Restricted funds: are funds subject to specific trusts, which are declared by the donor(s) and are expendable by the trustees in furtherance of some particular aspect(s) of the objects of the charity. These funds are subject to restriction (as to their use) imposed by those from whom the funds are obtained. Resources received but not yet expended at the end of the financial year are retained as a reserve.
Endowment funds: where there is no power to convert the capital into income, these are known as a permanent endowment funds and the capital is normally held indefinitely. Where trustees have the power to convert the capital into income, such funds are known as expendable endowments.
Any endowment funds held by the Charity are classified as "permanent".
Trustee benefits (in total)
| Trustee benefits (in total) | |
|---|---|
| Remuneration Reimbursed expenses |
2023 2022 35,221 33,223 |
| 6,500 6,500 |
As explained in the Trustees Report, the only private benefit flowing in relation to the trustees is to those in paid employment within our congregation who receive benefits as a result of their holding office or employment. However, this is incidental and necessary in order to further our charitable purpose. There are no other private benefits not disclosed.
Analysis of Charitable Payments
| Staff payments Establishment payments Other Charitable payments |
2023 2022 56,401 54,207 27,750 17,584 3,596 3,311 |
|---|---|
| 87,747 75,102 |
Page 3
All Souls' Church incorporating The Second Presbyterian Congregation of Belfast and The York Street Non-Subscribing Presbyterian Congregation
The following pages do not form part of the Statutory Financial Statements
They show the analysis of the amounts contained in the Statutory Financial Statements
All Souls' Church incorporating The Second Presbyterian Congregation of Belfast and The York Street Non-Subscribing Presbyterian Congregation
RECEIPTS
| Voluntary Giving Stipend Plate Collections Special Collections Donations & Bequests Bequests Wedding, Funerals & Baptisms Received for other charitable causes Other Donations Fundraising Other Gift Aid received Investment Income Investments Bank Interest Rental Income Rosemary Hall Hire Car Parking rental Other Income Grants Received Sundry Operating Receipts |
Unrestricted Restricted Endowment Total Total Funds Funds Funds 2023 2022 £ £ £ £ £ 27,487 27,487 26,172 5,694 5,694 2,129 0 0 0 |
|---|---|
| 33,181 0 0 33,181 28,301 |
|
| 3,720 3,720 2,947 0 366 366 203 0 0 0 |
|
| 3,720 366 0 4,086 3,150 |
|
| 0 0 0 367 367 258 |
|
| 367 0 0 367 258 |
|
| 4,194 4,194 4,228 |
|
| 29,572 29,572 24,150 477 477 99 |
|
| 30,049 0 0 30,049 24,249 |
|
| 13,648 13,648 13,835 14,092 14,092 8,794 |
|
| 27,740 0 0 27,740 22,629 |
|
| 1,200 1,200 0 0 0 0 |
|
| 1,200 0 0 1,200 0 |
|
| 100,451 366 0 100,817 82,815 |
All Souls' Church incorporating The Second Presbyterian Congregation of Belfast and The York Street Non-Subscribing Presbyterian Congregation
| PAYMENTS Charitable Activities Staff Costs Minister's Stipend Minister's Expenses Employers NIC Director of Music Church Officer Locum Pulpit supply Locum Organist supply Establishment Costs Ground Rent Insurance Electricity Heating oil Water charges Building & Grounds Repairs Regulatory & Service charges Assets purchased & Improvements Other Costs Advertising, Print & Stationery Telephone & Internet IT Costs Denominational Donations Sunday School & Youth expenses Choir & Music Bank Fees Professional Fees Sundry expenditure Paid to other charitable causes Governance Cost AGM Meeting expenses Operating payments |
Unrestricted Restricted Endowment Total Total Funds Funds Funds 2023 2022 £ £ £ £ £ 35,221 35,221 33,223 6,500 6,500 6,500 0 0 210 6,924 6,924 6,535 7,116 7,116 6,729 280 280 695 360 360 315 |
|---|---|
| 56,401 0 0 56,401 54,207 |
|
| 60 60 60 3,789 3,789 3,602 3,440 3,440 2,531 4,007 4,007 4,115 919 919 481 2,548 2,548 1,290 2,110 2,110 1,733 10,877 10,877 3,772 |
|
| 27,750 0 0 27,750 17,584 |
|
| 179 179 280 140 140 138 182 182 380 1,945 1,945 1,672 51 51 35 42 42 238 307 307 295 750 750 0 0 0 0 0 0 0 273 |
|
| 3,596 0 0 3,596 3,311 |
|
| 87,747 0 0 87,747 75,102 |
|
| 0 0 0 0 0 |
|
| 0 0 0 0 0 |
|
| 87,747 0 0 87,747 75,102 |