## **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**| 1 ## **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**| 2 ## **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. 3 ## **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**| 4 **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**| 5 ## **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. 6 **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. 7