MALONE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the year ended 31 December 2023
| 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 £ 134,924 1,110 11,713 27,027 9,600 184,374 31,529 91,780 7,317 2,788 45,033 2,442 180,889 3,485 1,000 4,485 4,485 68,307 72,792 |
Restricted £ 16,349 16,349 12,039 12,039 4,310 4,310 (3,320) 990 221,017 222,007 |
Endowment £ 6,190 6,190 423,227 429,417 |
2023 £ 134,924 17,459 11,713 27,027 9,600 200,723 31,529 91,780 7,317 2,788 45,033 14,481 192,928 7,795 1,000 8,795 2,870 11,665 712,551 724,216 |
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 |
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MALONE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF ASSETS AND LIABILITIES As at 31 December 2023
| 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 |
2023 £ 613,957 110,259 724,216 724,216 72,792 222,007 429,417 724,216 |
2022 £ 611,086 101,465 |
|---|---|---|
| 712,551 | ||
| 712,551 | ||
| 68,307 221,017 423,227 |
||
| 712,551 |
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MALONE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS
31 December 2023
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 2023
| 1 1. Regular Direct Giving Recorded Giving (FWO) Gift Aid received on Recorded Giving and GASDS Loose Collections 2. Gift Days and Special Collections United Appeal/Mission 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 |
2023 £ 105,370 27,638 1,916 134,924 8,662 3,407 1,280 4,110 17,459 84 11,629 11,713 398 26,629 27,027 9,600 9,600 |
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 |
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MALONE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (Cont’d) 31 December 2023
| 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 |
2023 £ 4,650 9,900 950 3,803 950 42 2,113 1,371 5,431 1,896 423 31,529 48,450 43,330 91,780 2,681 2,122 2,514 7,317 687 1,838 263 2,788 |
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 |
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MALONE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (Cont’d) 31 December 2023
| 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 AV equipment |
2023 £ 18,055 17,623 9,355 45,033 10,884 1,702 1,895 14,481 |
2022 £ 19,747 15,373 8,321 |
|---|---|---|
| 43,441 | ||
| 12,044 12,067 2,744 |
||
| 26,855 | ||
| 1,740 | ||
| 1,740 |
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 £8,166,376. The title to the property is vested in "The Holding Trustee Company of the Presbyterian Church in Ireland ", 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 2023
| estments held at the year end. M & G Charifund Accumulation Units M & G Charifund Income Units PCI General Investment Account Units |
2023 £ 59,993 399,612 154,352 613,957 |
2022 £ 57,892 411,652 141,542 - |
|---|---|---|
| 611,086 |
14. Investments
The figures below represent the value of investments held at the year end.
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