Page S GLASTRY PRESBYTERIAN CHURCH TRUST FUND Statement of financial activities Year ended 5 April 2023 Total Unrestrictcd Funds 2023 Total Capital Funds Total Funds Total Funds 2023 2023 2022 Not& Incoming resources Tncoming resources from generating funds.. Investment income 66,783 66,783 67,783 60,801 Total incoming resources Resources expended Costs of genei'ating funds: Charitable activities 66,783 68,801 314 64,338 64,338 64,338 2,445 68,953 Total resources expended Net outgoing resourees for the year Reconciliation of funds Total funds brought forward Transfers Revaluations 64,338 2,445 68,953 (8,152) 235 1,944,951 1,945,186 1,848,668 (232,809) (232,809) 1,712,142 1,714,822 104,670 Total funds carried forward 2,680 1,945,186 The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losscs has not been pr¢pared. All of the above amounts Telate to continuing activities. The notes on pages 7 to 9 form part of these financial statements.
Page 6 GLASTRY PRESBYTERIAN CHURCH TRUST FUND Balance sheet 5 April 2023 2023 2022 Note Non-current assets Investments 1,712,142 1,944,951 Debtors 2,680 2,680 235 235 Creditors Net current assets 2,680 235 Total assets less current liabilities 1,714,822 1,954,186 Funds Unrestricted income funds Capital funds Total funds 2,680 1,712,142 235 1,944.951 1,714,822 1,945,186 These financial statements were approved by the trnste¢ and authorised for issue on and 'C signed by: Mr C Haddick Trnstee The notes on pages 7 to 9 form part of these financial statements.
Page 7 GLASTRY PRESBYTERIAN CHURCH TRUST FUND Notes to the financlal statements Year ended 5 April 2023 Ac¢ountRng policies Basis of accounting The financial statements have been prepared und¢r the historical cost convention and in accordance with Accounting and Reporting by Charities". Statement of Recommended Practice applicable in the UK and Republic of Ireland (FRS 102), The Financial Reporting Standard applicable in the UK and Republic of ITeland (FRS 102). The charity is early adopting FRS 102 Section IA and is taking the exemption from preparing a cash-flow statement. The financial statements have b¢¢n prepared on a going concern basis which assum¢s that the Charity will continue in operational existence for the foreseeable future. The trustees believe that Lt is appropriate for the fmancial statements to be prepared on th¢ going concern basis. The entity is a Public Benefit entity as defined by FRS 102. The financial statements are presented in sterling, which is the functional currency of the entity. Fund accounting The charity has one type of fund for which it is responsiblc, and which require separate disclosure as follows: Uni'estricÉedfynds.' Funds which are expendable at the dtscretion of the committee in the furtherance of the objects of the charity. In addition, llds may be held in order to fInaiice capital investment and working capital. Fllndfing recelved Funding received is recognised irt full in the statement of financial activities in the year in which they arc Teceivablc. Other incoming resollrces Incoming resources including investment income are credited to the statement of financial activities whcn receivable. Fundraising costs Fundraising costs include those costs incued to facilitate the charities objectives. Charitable expenditure Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its ben¢ficiari¢s. It includes both costs that can be allocated dii'ecdy to such activities and those costs of an indirect nature necessary to support them.
Page 8 GLASTRY PRESBYfERIAN CHURCH TRUST FUND Notes to the financial statements Year ended 5 April 2023 Investment income Unrestricted Total Funds Total Funds Funds 2023 2022 Investment income 66,783 66,783 60,801 Costs of charitable activities by fund type Unrestricted Total Funds Total Funds Funds 2023 2022 Charitable Activities 64,338 64,338 68,953 Costs of charitable activities by activity type Activities undertaken directly Support Total Funds Total Funds costs 2022 2021 Charitable Activities 55,416 8.922 64,338 68,953 Staff costs and emoluments £Nil (2022.. £Nil) of salaries and wages have been paid to the employees during the year. Trustee expenses of £8,922 have been incurred in the year to 5 Aprtl 2023. Activities undertaken directly of £55,416 represent building costs paid directly to Glastry Presbyterian Church. Support cost of £8,922 includes £8,000 for the administration of the trust and £922 for accountancy fees. Investments 2022 2022 Opening cost at 6 April 22 Revaluation 1,944,951 (232,809) 1,840,281 104,670 Closing cost at 5 April 23 1,712,142 1,944,951 Investments relate to a portfolio managed by Evelyn Partners (fomiel'ly Smith and Williamson) and which are revalued to fair value annually. Debtors 2023 2022 Other debtors 2,680 235
Page 9 GLASTRY PRESBYTERIAN CHURCH TRUST FUND Notes to the financlal statements Year ended 5 Aprll 2023 Funds Opening balance Incoming resources Outgoing resources Closing balance Unrestricted income funds 235 66,783 (64,338) 2,680 Opening balance Closing balance Revaluation Capital funds 1,944,951 (232,809) 1,712,142 Analysis of net assets between funds Net current assets Investments Total C2pfital Funds Unrestricted income funds 1,712,142 1,712,142 2,680 1,714,822 2,680 2,680 Total Funds 1,712,142