Docusign Envelope ID: 580092EB-929C-4700-9A7D-7DBC2BCD95A9
Windsor Presbyterian Church
Financial Statements
for the year ended 31[st] December 2023
Docusign Envelope ID: 580092EB-929C-4700-9A7D-7DBC2BCD95A9
Windsor Presbyterian Church
Charity Information
Principal address 34 Shaftesbury Square Belfast BT2 7DB Trustees Barbara Lagan Cecil Graham Fergus Hanna Bell Heather Hanna Nell Cooke Ivan Steen Ryan McAnlis Norma Dawson Tony Tham Accountants JSR 44 Blackisland Road Annaghmore Portadown BT62 1NE Bankers Ulster Bank 91/ 93 University Road Belfast BT7 1NG Charity Number 104213
Docusign Envelope ID: 580092EB-929C-4700-9A7D-7DBC2BCD95A9
Windsor Presbyterian Church
| Contents | ||
|---|---|---|
| Page | ||
| Report of the Trustees | 1 - 4 | |
| Independent Examiners report | 5 | |
| Statement of Financial Activities | 6 | |
| Balance sheet | 7 | |
| Notes to the financial statements | 8 - 14 |
Docusign Envelope ID: 580092EB-929C-4700-9A7D-7DBC2BCD95A9
Windsor Presbyterian Church
Report of the Trustees for the year ended 31 December 2023
Structure, Governance and Management
The Trust (the Charity) is an unincorporated Trust, constituted under a Deed of Trust, and is registered as a Charity with HMRC and Charity Commission for Northern Ireland. The Charity plans to continue to raise funds through its routine and special collections from within its congregation, raising supplementary income from various other sources such as investment income, all of which to serve the Charity’s objectives in the furtherance of the Christian belief.
Windsor Presbyterian Church is a congregation of the Presbyterian Church in Ireland (‘PCI’) and established under the rules and constitution of PCI. It is a charity established for the advancement of religion (Christianity). In accordance with the Code of the PCI, the charity trustees are the elders of the church: the minister is the teaching elder, there are 8 ruling elders. Together these 9 people form the Kirk Session. The Kirk Session is responsible for the spiritual oversight of the Church. It also exercises oversight of the Congregational Committee which deals with congregational finances and property. The Kirk Session and Congregational Committee both meet approximately eight times a year. Elders / charity trustees are elected by voting members of the congregation in accordance with the Code of the PCI; once elected, they remain in office until they retire or resign.
On 15[th] January 2024 the congregation of Great Victoria Street Presbyterian Church merged with the congregation of Windsor Presbyterian Church. On 21[st] June 2024 at the General Assembly the new name of the merged congregation was agreed, South Kirk Presbyterian Church.
Trustees
The Trustees who served during the year were as follows:
Barbara Lagan Cecil Graham Fergus Hanna Bell Heather Hanna Ivan Steen Nell Cooke Norma Dawson Ryan McAnlis Tony Tham
Risk Management
The Trustees actively review any major risks which the Charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources for the incoming year. The Trustees have also examined other operational and business risks faced by the Charity and confirm that they have established systems to mitigate the most significant risks.
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Docusign Envelope ID: 580092EB-929C-4700-9A7D-7DBC2BCD95A9
Windsor Presbyterian Church
Report of the Trustees
for the year ended 31 December 2023
Objectives and Activities
The Trustees have regard to the Northern Ireland Charity Commission's Public benefit requirements statutory guidance.
The principal activity of the Charity is to hold services of worship and other religious activities. These, and all that follow, are open to anyone of appropriate age and/or gender to access, without regard to whether they are members of our congregation.
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Through prayer, support our members, our own Church, other Christian Churches, the community and leaders in society and government.
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Organise meetings and events that promote our charitable purpose.
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Participate in the life of the local community.
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Participate in, and support the work of, the Presbyterian Church in Ireland and the supervising Presbytery.
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Support other secular and Christian organisations and charities through volunteering, financial gifts and prayer.
The main activities undertaken to further these aims are detailed in the "Achievements and performance" section of this report.
Achievements & Performance
Windsor’s income is derived from weekly collections (‘freewill offering’) and other donations; legacies and gift aid.
Our services were conducted in full compliance with current regulations and guidance. One aspect of our services is that we integrated British Sign Language and Persian into our Services. We have a very strong connection with Kinghan Church for the Deaf. We have continued to develop our role with the International Meeting Point in South Belfast. Bible study, Prayers and counselling all continued. We have invested in new equipment in order to improve our delivery of Services online in the future. Because of our contact with asylum seekers, many of our congregation suffer from shortages of basic food and other items.
The Trustees are most grateful to our Minister for his resolute determination in carrying out the work of Windsor Presbyterian Church.
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Docusign Envelope ID: 580092EB-929C-4700-9A7D-7DBC2BCD95A9
Windsor Presbyterian Church
Report of the Trustees for the year ended 31 December 2023
Financial Review
The Financial Statements are presented in the standard format required by the Charities SORP (FRS 102) 2015. The Statement of Financial Activities on page 6 shows the gross income from all sources for the year ended 31[st] December 2023.
Windsor Presbyterian Church is reliant upon income collected through its weekly collections and special collections; combined with the receipt of donations and the subsequent Gift Aid claims and investment income to cover the running costs of the Charity and to further its objectives.
In the year under review, the income received from weekly collections amounted to £55,412 (2022: £51,692 ), this amount was further enhanced by the subsequent receipt of Gift Aid amounting to £13,264 (2022; £11,832). Special Collections received amounted to £36,758 (2022: £21,615 ); with Loose collections raising £3,852 (2022; £3,241).
During the year under review the Charity received £Nil (2022; £ 600 ) by way of grant income. Miscellaneous income for the year amounted to £Nil (2022; £5,029).
Expenses associated with its charitable activity work amounted to £103,508 (2022; £91,520) during the year, with a further amount of £36,307 being spent on running and administration expenses (2022; £64,302). Windsor Presbyterian Church has been sharing the premises of Great Victoria Street Presbyterian Church during the period. Windsor Presbyterian Church has been contributing towards the running costs of the building.
Investment Policy
The Charity holds a long-term investment from which it receives annual dividend income. Apart from retaining a prudent amount in reserves each year most of the Charity’s funds are spent in the short term.
Reserves Policy
The Trustees aim to maintain sufficient reserves to enable the Trust to continue its humanitarian aid and Christian outreach at its current level, and if possible to increase it.
Plans for the future
We are seeking to consolidate our position by living and serving out our Christian values. Our vision is one that seeks to breakdown borders between people in our community and beyond. This is achieved through:
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weekly Sunday Worship;
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Prayer meetings;
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Life Groups, to continue our connection with the International Meeting Point, continue to develop relations with other denominations within the local community; and
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providing continued support and teaching/ Bible study to congregational member and non-members alike.
We will seek a merger with the hosting congregation of Gt Victoria St Congregation under the oversight of PCI of governing bodies and Charity Commission of Northern Ireland (for further details see Page 1 “Structure and Governance” section).
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Docusign Envelope ID: 580092EB-929C-4700-9A7D-7DBC2BCD95A9
Windsor Presbyterian Church
Report of the Trustees
for the year ended 31 December 2023
Trustee responsibilities in relation to the accounts
The Charity Trustees are responsible for preparing a Trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in Northern Ireland requires the Charity Trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, of the Charity for that period. In preparing the financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the Charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the Charity and financial information included on the Charity's website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.
This report was approved by the Trustees and signed on its behalf by
Mr Fergus Bell Trustee
12 September 2024 Date:
Dr Heather Hanna Trustee 15 September 2024 Date:
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Docusign Envelope ID: 580092EB-929C-4700-9A7D-7DBC2BCD95A9
Windsor Presbyterian Church
Independent examiner’s report to the Charity Trustees of ‘Windsor Presbyterian Church’ Trust
I report on the accounts of the Trust for the year ended 31 December 2023, which are set out on pages 6 to 14.
Respective responsibilities of Charity Trustees and examiner
As the Charity’s Trustees you are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland) 2008 and the Presbyterian Code. It is my responsibility to:
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examine the accounts under section 65 of the Charities Act and paragraph 240 of the Presbyterian Code
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follow the procedures laid down in the general Directions given by the Commission under section 65(9)(b) of the Charities Act
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state whether particular matters have come to my attention.
Basis of independent examiner’s report
I have examined your Charity accounts as required under section 65 of the Charities Act and Paragraph 240 of the Presbyterian Code, 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.
My examination included a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, 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:
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That accounting records were not kept in accordance with section 63 of the Charities Act
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That the accounts do not accord with those accounting records
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That the accounts do not comply with the accounting requirements of the Charities Act
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That there is further information needed for a proper understanding of the accounts to be reached.
Independent examiner’s statement
I have completed my examination and 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.
Jonathan Ross FCA Chartered Accountant
44 Blackisland Road Annaghmore Portadown BT62 1NE
12 September 2024 Date:
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Docusign Envelope ID: 580092EB-929C-4700-9A7D-7DBC2BCD95A9
Windsor Presbyterian Church
Statement of Financial Activities for the year ended 31 December 2023
Statement of Financial Activities
| For the period ended 31 December 2023 Incoming Resources Notes Incoming Resources from generated funds Voluntary income 3 Activities for generating funds 4 Investment income - rent received Total Incoming Resources Resources Expended Charitable activities 5 Running Costs/ Administrative costs 6 Governance Costs 7 Total Resources Expended Net incoming/ outgoing resources before transfers Gross transfers between funds Net incoming resources before other recognised gains and losses Other recognised gains and losses Gains/ (losses) on disposal of fixed assets Gains/ (losses) on Exceptional Items 14 Gains/ (losses) on Exceptional Items 14 Gains/ (losses) on investment assets 8 Net movement in funds Reconciliation of funds Total funds brought forward 12 Total funds carried forward 12 |
Unrestricted Funds Restricted Funds Total Funds £ £ 79,892 46,352 126,244 276 - 276 - - - 80,168 46,352 126,520 82,197 21,311 103,508 36,307 - 36,307 1,820 1,640 3,460 120,324 22,951 143,275 (40,155) 23,401 (16,754) - - - (40,155) 23,401 (16,754) - - - 1,500 - 1,500 797 - 797 9,700 - 9,700 (28,158) 23,401 (4,757) 115,654 1,016,078 1,131,732 87,496 1,039,479 1,126,975 |
Prior year £ (Restated) 115,456 5,234 5,056 |
|---|---|---|
| 125,746 | ||
| 91,520 64,302 12,349 |
||
| 168,171 | ||
| (42,425) | ||
| - | ||
| (42,425) (100,000) - - (9,601) |
||
| (152,026) 1,283,757 |
||
| 1,131,732 |
All of the Charity’s activities derived from continuing operations during the period. The Charity has no recognised gains or losses other than those shown above and therefore no separate statement of total recognised gains and losses has been presented.
Page 6
The notes on pages 8-14 form part of these financial statements.
Docusign Envelope ID: 580092EB-929C-4700-9A7D-7DBC2BCD95A9
Windsor Presbyterian Church
Balance sheet as at 31 December 2023
| Notes: Investments 8 Fixed Assets 9 Current Assets Other Debtors 10 Cash at Bank and in hand 10 Liabilities Loans 11 Other creditors and accruals 11 Total assets less current liabilities Represented by: Unrestricted funds 12 Restricted funds 12 12 |
2023 2022 £ £ (Restated) 116,889 107,190 524,915 531,931 26,267 35,218 459,405 460,191 - (2,297) (500) (500) 1,126,975 1,131,732 87,496 115,654 1,039,479 1,016,078 1,126,975 1,131,732 |
|---|---|
Approval of Account
12 September 2024
The foregoing Balance Sheet Account was approved by the Trustees on
. Signed on behalf of the Trustees ___ ___ Mrs Anna Shariati Mr Fergus Bell Treasurer Trustee
Page 7
The notes on pages 8-14 form part of these financial statements.
Docusign Envelope ID: 580092EB-929C-4700-9A7D-7DBC2BCD95A9
Windsor Presbyterian Church
Notes to the financial statements
for the year ended 31 December 2023
1.
Accounting policies
The accounting policies adopted by the Charity are consistent with those adopted previously and are set out below:
1.1. Basis of preparation
The financial statements have been prepared in accordance with the provisions of the Charities Act
(Northern Ireland) 2008 and the Presbyterian Code, and with applicable Accounting Standards. These financial statements have been prepared in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice FRS 102 (Charities SORP FRS102).
The accounts are prepared under the historical cost convention. The results of the Charity’s operations, which are described in the Trustee’s report, are all continuing.
1.2. Cash flow statement
The Charity has taken advantage of the exemption provided by FRS102 and has not prepared a cash flow statement.
1.3 Funds Structure
Designated funds are funds which are to be used in accordance with specific restrictions imposed by the donor.
Unrestricted funds comprise those funds, which the Trustees are free to use for any purpose in furtherance of the charitable objects.
1.4 Incoming Funds
All incoming resources are recognised once the Charity has entitlement to the resources, it is certain that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability.
1.5 Resources Expended
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the Charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under heading that aggregate all costs related to the category.
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Docusign Envelope ID: 580092EB-929C-4700-9A7D-7DBC2BCD95A9
Windsor Presbyterian Church
Notes to the financial statements
for the year ended 31 December 2023
1.6 Value Added Tax
Windsor Presbyterian Church is not registered for VAT.
1.7 Grants
Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets.
1.8 Depreciation
The cost of tangible fixed assets is their purchase cost, together with any incidental costs of acquisition. Depreciation is calculated to write off the cost of fixed assets, in equal annual instalments on the following basis:-
Land & Buildings: None Computer & AV Equipment: 25% Straight line basis Fixtures, Fittings & Equipment: 25% Straight line basis
The property held has been valued and is included at its Fair Value. No depreciation has been charged against this asset as it is recorded at Fair Value.
2. Income
Income for the period represents all cash received/ receivable during the period.
| 3. Voluntary Income Recorded Giving Gift Aid on Recorded Giving Loose Collections Special Collections Gift Aid on Occassional Gifts Gifts in kind - United Appeal Legacies Bank & Building society interest Other Invest. Income - Dividends Grants Received |
Unrestricted Restricted £ £ 55,412 - 12,264 1,000 3,852 - - 36,758 873 4,584 - 4,010 - - 5,211 - 2,280 - - - 79,892 46,352 |
Total Funds Prior year £ £ 55,412 51,692 13,264 11,832 3,852 3,241 36,758 21,615 5,457 5,268 4,010 4,810 - 13,386 5,211 644 2,280 2,368 - 600 126,244 115,456 |
|---|---|---|
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Docusign Envelope ID: 580092EB-929C-4700-9A7D-7DBC2BCD95A9
Windsor Presbyterian Church
Notes to the financial statements for the year ended 31 December 2023
| 4. Activities for generating funds Church Magazines Weddings, funerals etc Misc Income 5. Charitable activities Congregational Assessments Ministerial Stipend/ Expenses etc Assistant Minister/ Expenses Ministry support services United Appeal Discretionary/ Welfare Fund Student/ Deaconess Bursary 6. Running costs/ Admin expenses Ministers National Insurance Students Worship resources Church Envelopes Other Church Magazines and Literature Childrens and Youth Ministries Church Events Computer Costs Advertising, Stationery & Postage Sundry Heat & Light Rent & Rates Repairs & Maintenance Insurance Depreciation (see Note 9) |
Unrestricted Restricted £ £ 276 - - - - - 276 - Unrestricted Restricted £ £ 17,774 - 44,972 - 17,371 - 2,080 13,637 - 5,067 - 2,607 - - 82,197 21,311 Unrestricted Restricted £ £ 5,020 - 933 - 795 - 132 - - - 499 - 97 - 1,716 - 850 - (651) - - - 4,325 - 2,103 - 6,961 - 690 - 12,837 - |
Total Funds £ 276 - - 276 Total Funds £ 17,774 44,972 17,371 15,717 5,067 2,607 - 103,508 Total Funds £ 5,020 933 795 132 - 499 97 1,716 850 (651) - 4,325 2,103 6,961 690 12,837 36,307 |
Prior year £ - 205 5,029 |
|---|---|---|---|
| 5,234 | |||
| Prior year £ 19,088 42,831 9,477 11,467 6,057 2,600 - |
|||
| 91,520 | |||
| Prior year £ 4,913 1,372 741 131 - 966 878 1,164 715 1,915 3,250 12,055 2,042 24,040 (1,262) 11,382 |
|||
| 33,307 - |
64,302 |
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Docusign Envelope ID: 580092EB-929C-4700-9A7D-7DBC2BCD95A9
Windsor Presbyterian Church
Notes to the financial statements for the year ended 31 December 2023
| 7. Governance Costs Legal & Professional 8. Investments Valuation B/fwd Additions Disposals Fair Value movement in year Valuation C/ fwd |
Unrestricted Restricted £ £ 1,820 1,640 |
Total Funds Prior year £ £ 3,460 12,349 3,460 12,349 2023 2022 £ £ 107,189 116,790 - - - - 9,700 (9,601) 116,889 107,189 |
Prior year £ 12,349 |
|
|---|---|---|---|---|
| 1,820 1,640 |
12,349 | |||
The fair value of the General Investment Fund is determined by reference to the quoted price for i in an active market at the balance sheet date.
| 9. | Tangible Fixed Assets Cost At 1 January 2023 Additions Disposals At 31 December 2023 Depreciation At 1 January 2023 Charge At 31 December 2023 Net Book Value At 31 December 2023 At 31 December 2022 |
Buildings Computer & Fixtures, Fittings Freehold AV Equipment & Equipment £ £ £ 500,000 48,531 4,342 - 5,820 - - - 500,000 54,351 4,342 - 19,856 1,085 - 11,751 1,086 - 31,607 2,171 500,000 22,744 2,171 500,000 28,675 **3,257 ** |
Total £ 552,873 5,820 |
|---|---|---|---|
| 558,693 | |||
| 20,941 12,837 |
|||
| 33,778 | |||
| 524,915 | |||
| 531,932 |
- The Building Freehold heading above includes all properties owned and occupied by the Charity, i.e. the Manse, located at 8 Cranmore Park, Belfast, BT9 6TG.
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Docusign Envelope ID: 580092EB-929C-4700-9A7D-7DBC2BCD95A9
Windsor Presbyterian Church
Notes to the financial statements
for the year ended 31 December 2023
| 10. Current Assets Cash at bank and in hand Other debtors (see Note 13) 11. Creditors less than 1 year Loans (see Note 14) Accruals 12. Reconciliation of Reserves B/fwd 1 January 2023 (Deficit)/ Surplus in year Prior Year Adjustment (see Note 13) C/fwd 31 December 2023 |
Unrestricted Restricted £ £ 115,654 1,016,078 (28,158) 23,401 - - 87,496 1,039,479 |
2023 £ 459,405 26,267 485,672 2023 £ - 500 500 Total Funds £ 1,131,732 (4,757) - 1,126,975 |
2022 £ (Restated) 460,191 35,218 |
|---|---|---|---|
| 495,409 | |||
| 2022 £ 2,297 500 2,797 Prior year £ (Restated) 1,283,757 (156,035) 4,010 |
|||
| 1,131,732 |
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Docusign Envelope ID: 580092EB-929C-4700-9A7D-7DBC2BCD95A9
Windsor Presbyterian Church
Notes to the financial statements for the year ended 31 December 2023
13. Prior Period Adjustments
The following prior period adjustments have been deemed necessary to correct for misstatement in the accounts for the year ended 31[st] December 2022. These Prior Period adjustments are in accordance with Charities Statement of Recommended Practice (FRS102).
Repairs and maintenance expense within the Unrestricted Funds, has been reduced by £4,010, the opposing entry has been to increase Assets, namely Other Debtors, by the same amount. This adjustment has resulted in an increase in the Unrestricted Fund Surplus for the year and Unrestricted Reserves by this amount, see below for the effect of the Prior Period Adjustment.
| As originally stated: Repairs & Maintenance Other Debtors (Deficit)/ Surplus arising Effect of restatement: Repairs & Maintenance Other Debtors (Deficit)/ Surplus arising |
2022 2022 Unrestricted Restricted £ £ 28,050 - 31,208 - (58,719) (97,316) 24,040 - 35,218 - (54,709) (97,316) |
2022 Total Funds £ 28,050 31,208 (156,035) 24,040 35,218 (152,025) |
2021 Prior year £ 13,321 |
|---|---|---|---|
| 17,576 | |||
| 18,312 | |||
| 13,321 | |||
| 17,576 | |||
| 18,312 |
14. Accounting for Exceptional Items
The Charities SORP (FRS 102), under the following paragraphs states:
Para 4.16
“Events and transactions falling outside a charity’s ordinary activities are by their nature extremely rare and are referred to as extraordinary items.”
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Docusign Envelope ID: 580092EB-929C-4700-9A7D-7DBC2BCD95A9
Windsor Presbyterian Church
Notes to the financial statements
for the year ended 31 December 2023
Para 4.17
“Extraordinary items are material events or transactions that:
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fall outside of the charity’s ordinary activities;
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are abnormal in their nature; and
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are not expected to recur”
Two separate transactions have been deemed by the Trustees, in accordance with the above noted sections of the Charities SORP, to meet this definition, and as such are being treated as Exceptional Items:
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14.1 A loan of £1,500, which has been carried forward since December 2014. No correspondence has been received from the lender in the past 9 years. It is the opinion of the Trustees that this loan is not payable, and as such can be written back in these accounts. A credit for £1,500 has been entered as a separate Exceptional item on the face of the Statement of Financial Activities (see page 6), with the corresponding debit entry reducing Loans balance.
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14.2 A loan of £797, which has been carried forward since December 2019. It is the opinion of the Trustees that this loan is not payable, and as such can be written back in these accounts. A credit for £797 has been entered as a separate Exceptional item on the face of the Statement of Financial Activities (see page 6), with the corresponding debit entry reducing Loans balance.
In accordance with Section 4.18 of the Charities SORP, both the above noted items have been… “disclosed on the face of the SOFA immediately after the total of net income/(expenditure). The explanations above (Note 14.1 and Note 14.2) comply with the disclosure requirements of Section 4.18 of the Charities SORP.
15. Post Balance Sheet Events
On the 15 January 2024 the congregation of Great Victoria Street Presbyterian Church merged with the congregation of Windsor Presbyterian Church. On 21 June 2024 at the General Assembly the new name of the merged congregation was agreed, South Kirk Presbyterian Church.
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