MALONE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the year ended 31 December 2022
| Notes Incoming Resources Regular Direct Giving 1 Gift Days and Special Collections 2 Activities that Generate Income 3 Investment Income 4 Other Income Sources 5 Total Incoming Resources Resources Expended Central Church Assessments 6 Ministry and Support Staff 7 Life and Work 8 Governance 9 Property and Equipment 10 Grants to Missions and Charities 11 Total Resources Expended Net Incoming/(Outgoing) Resources before transfers Bequests and Memorial Gifts Capital Expenditure 12 Transfers Gross Transfers between funds - In Gross Transfers between funds - out Net Incoming/Outgoing Resources before other gains/losses Other recognised gains/losses Gains on revaluation of assets Net Movements in Funds Total Funds Brought Forward Total Funds Carried Forward |
Unrestricted £ 131,897 403 5,921 25,761 9,600 173,582 33,341 82,656 7,259 2,689 43,441 8,204 177,590 (4,008) 7,000 - (10,000) (7,008) (7,008) 75,315 68,307 |
Restricted £ 21,651 349 22,000 18,651 18,651 3,349 - (1,740) 10,000 11,609 (10,422) 1,187 219,830 221,017 |
Endowment £ (22,152) (22,152) 445,379 423,227 |
2022 £ 131,897 22,054 5,921 26,110 9,600 195,582 33,341 82,656 7,259 2,689 43,441 26,855 196,241 (659) 7,000 (1,740) 10,000 (10,000) 4,601 (32,574) (27,973) 740,524 712,551 |
2021 £ 112,559 14,749 3,251 23,483 9,600 |
|---|---|---|---|---|---|
| 163,642 | |||||
| 32,725 66,959 5,671 2,337 43,643 14,341 |
|||||
| 165,676 | |||||
| (2,034) (1,806) |
|||||
| (3,840) 81,156 |
|||||
| 77,316 663,205 |
|||||
| 740,524 |
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MALONE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF ASSETS AND LIABILITIES As at 31 December 2022
| Notes Tangible Fixed Assets Fixed assets Investments 13 14 Current Assets Cash at bank and in hand Total assets Unrestricted Funds Restricted Funds Endowment Funds Total Funds |
2022 £ 611,086 101,465 712,551 712,551 68,307 221,017 423,227 712,551 |
2021 £ 643,664 96,860 |
|---|---|---|
| 740,524 | ||
| 740,524 | ||
| 75,315 219,830 445,379 |
||
| 740,524 |
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MALONE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS
31 December 2022
1. ACCOUNTING POLICIES
BASIS OF FINANCIAL STATEMENTS
As the total income of the congregation is less than £250,000 the congregation have elected in accordance with the provisions in The Charities (Accounts and Reports Regulations (Northern Ireland) 2015 to prepare its accounts on a receipts and payments basis.
FUND ACCOUNTING
Endowment funds are funds, the capital of which must be retained either permanently or at the congregation’s discretion; the income derived from the endowment is to be used either as restricted or unrestricted income funds depending upon the purpose for which the endowment was established in the first place.
Restricted funds comprise (a) income from endowments which is to be expended only on the restricted purposes intended by the donor and (b) revenue donations or grants for a specific congregational activity intended by the donor. Where these funds have unspent balances, interest on their pooled investment is apportioned to the individual funds on an average balance basis.
Unrestricted funds are income funds which are to be spent on the congregation’s general purposes. Designated funds are general funds set aside by the congregation for use in the future.
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MALONE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (Cont’d) 31 December 2022
| OTES TO THE ACCOUNTS (Cont’d) 1 December 2022 |
||
|---|---|---|
| 1. Regular Direct Giving Recorded Giving (FWO) Gift Aid received on Recorded Giving and Gift Aid Small Donations Scheme (GASDS) Loose Collections 2. Gift Days and Special Collections United Appeal Other PCI Schemes Other Missions and Charities Other Donations 3. Activities that Generate Income Church Magazines Donations to Heat and Light 4. Investment Income Bank and Building Society Interest Other Investment Income 5. Other Income Sources Rental Income |
2022 £ 105,306 26,125 466 131,897 4,190 12,047 2,414 3,403 22,054 298 5,623 5,921 337 25,773 26,110 9,600 9,600 |
2021 £ 112,031 - 598 |
| 112,629 | ||
| 3,710 7,765 3,204 |
||
| 14,679 | ||
| 273 2,978 |
||
| 3,251 | ||
| 320 23,163 |
||
| 23,483 | ||
| 9,600 | ||
| 9,600 |
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MALONE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (Cont’d) 31 December 2022
| OTES TO THE ACCOUNTS (Cont’d) 1 December 2022 |
||
|---|---|---|
| 6. Central Church Assessments Central Ministry Fund Ministers' Pension Scheme Fund Widows of Ministers Fund Incidental Fund Prolonged Disability Fund Sick Supply Fund Assembly Buildings External Work Presbytery Fees Minister's National Insurance Students Bursary Fund Ministerial Development Fund 7. Ministry and Support Staff Minister Other Ministry and Support Staff 8. Life and Work Worship and Fellowship Discipleship and Ministry Mission and Outreach 9. Governance Advertising, Printing, Stationery and Postage Other Sundry Expenses Bank Interest and Charges |
2022 £ 5,498 9,428 1,145 4,239 916 69 2,291 1,531 5,325 2,373 526 33,341 45,667 36,989 82,656 3,482 1,215 2,562 7,259 2,166 323 200 2,689 |
2021 £ 5,876 9,221 1,347 4,530 980 98 2,571 1,471 4,945 1,049 637 32,725 44,663 22,387 |
| 67,050 | ||
| 2,057 800 2,814 |
||
| 5,671 | ||
| 1,587 555 195 |
||
| 2,337 |
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MALONE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (Cont’d) 31 December 2022
| 10. Property and Equipment Utilities Repairs and Maintenance Insurances 11 Grants to Missions and Charities United Appeal Other PCI Schemes Other Missions and Charities 12 Capital Expenditure TV and Cameras AV equipment |
2022 £ 19,747 15,373 8,321 43,441 12,044 12,067 2,744 26,855 1,740 1,740 |
2021 £ 17,108 19,034 7,501 |
|---|---|---|
| 43,643 | ||
| 9,375 2,706 2,260 |
||
| 14,341 | ||
| 1,806 | ||
| 1,806 |
13. Fixed Assets
Fixed Assets comprise Malone Presbyterian Church, Paton Memorial Halls and the Manse at 63 Old Forge Manor and are insured for the sum of £9,514,330. The title to the property is vested in "The Education Board of the Synod of Belfast", a body corporate of Church House, as Trustees of Malone Presbyterian Church. A re-valuation for insurance purposes was carried out during 2006.
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MALONE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (Cont’d)
31 December 2022
| estments held at the year end. M & G Charifund Accumulation Units M & G Charifund Income Units PCI General Investment Account Units Presbyterian Mutual Society loan notes* |
2022 £ 57,892 411,652 141,542 - 611,086 |
2021 £ 58,010 435,934 147,080 2,640 |
|---|---|---|
| 643,664 |
14. Investments
The figures below represent the value of investments held at the year end.
*The administrator has indicated that the loan notes will not be repaid and therefore this investment has been written off.
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