Presbyter an KIRKPATRICK MEMORIAL PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland STATEMENT OF FINANCIAL AcfiviTY for the year ended 31 December 2022 Income and Endowments from: Donations and legacies Charitable activities Other trading activities Investments Other 281,739 1.435 3.610 451 326 136,432 1,153 8.685 105 294 418.171 2,589 12.295 556 413,791 2,787 5,700 323 620 345 Total 287,561 146.670 434,231 422,946 Expenditure on: Raising funds Charitable activities 255 234.095 255 380,464 291 268.194 146,369 Tota I 234,350 146,369 380,719 268.485 Net gains/{losses) on investment5 Net Income / (expenditurel 53.211 301 53,512 154,461 Transfers between funds [64,764} 64.764 Net movement in funds Reconciliation of funds: Total funds brought forward [11.554] 65,065 53.512 154,461 349.580 681,044 1.030.625 876,164 Total funds carried forward 338,027 746,110 1,084,137 1,030,625 There may be minor discreponcies in t totols (not exceeding £lJ due to rounding 181Page.
Presbyter an KIRKPATRICK MEMORIAL PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland BALANCE SHEET As of 31 December 2022 Fixed assets: Tangible assets 11 11,287 454,136 465,424 414,798 Total fixed assets 11.287 454,136 465,424 414.798 Current assets Debtors 12 22,043 9,960 32,003 74,146 Cash at the bank and in hand 13 311.880 317,486 629,367 614,332 Total current assets 333,923 327,447 661,370 688,478 Liabilities: Creditors: Amounts falling due, within one year 14 7.184 35,473 42,657 72,652 Net current assets or liabilities 326,740 291,973 618,713 615,826 Total assets less current liabilities 338,027 746,110 1,084,137 1,030,625 Creditors: Amounts falling due after more than one year Provision5 for liabilities 15 Total net assets or liabilities 338,027 746,110 1,084,137 1,030,625 There may be minor discrepancies in the totals (not exceeding £1) due to rounding. 191 Page
Presbyter an KIRKPATRICK MEMORIAL PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland BALANCE SHEEr As of 31 December 2022 Funds of the tharity Restricted income funds 16 746.110 746,110 338,027 681,044 Unrestricted funds 16 338,027 349,580 Total charity funds 338,027 746,110 1,084,137 1,030,625 Approved by the Kirk Session at a meeting on 15 May 2023 and signed on its behalf by Q. (a--Ut Graeme Kennedy 15 May 2023 Gareth Irwin 15 May 2023 201 Page
an KIRKPATRICK MEMORIAL PRE5BYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS 31 December 2022 ACCOUNTING POLICIES BA51S OF FINANCIAL sfATEMENTS The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Ireland (FRS102) (effective l January 2015). The financial statements have been prepared under the historical c05t convention except for investment assets, which are shown at market value. The financial statements include all transactions, assets and liabilities for which the congregation is responsible in law. They do not include the accounts of church groups that owe theiraffiliation to another body, northose that are informal gatherings of church members. 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 purp05e5 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 fund5 on an average balance basis. Unrestricted funds are income funds that 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. 211Page
Presbyter an KIRKPATRICK MEMORIAL PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS 31 December 2022 ACCOUNTING POLICIES (convd) INCOMING RESOURCES (i) Recognition of incoming resources These are included in the Statement of Financial Activities {SoFA) when: the congregation becomes entitled to the resources," • the trustees are virtually certain they will receive the resources. and the monetary value can be measured with sufFicient reliability. (li) Incoming resources with related expenditure Where incoming resources have related expenditure (as with fundraising income) the incoming resources and related expenditure are reported gross in the SOFA. (iii) Grants and donations Grants and donations are only included in the SOFA when the congregation has an unconditional entitlement to the resources. (iv) Tax reclaims on donations and gifts Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate. (v) Contractual income and perfOrman-re1ated grants This is only included in the SOFA once the related goods or Services have been delivered. (vi) Gifts in kind Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable. 221 Page
an KIRKPATRICK MEMORIAL PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS 31 December 2022 ACCOUNTING POLICIES (cont'd) (vii) Donated services and faalities These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received. (viii) Volunteer help The value of any voluntary help received is not included in the accounts but is described in the trustees, annual report. (ix) Investment Income This is included in the accounts when receivable. (x) Investment gains and losses This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. EXPENDITURE AND LIABILITIES (xi) Liability recognition Liabilities are recognised as soon as there is a legal or constructive obligation committing the congregation to pay out resources. (xii) Governance costs These are shown within charitable activities and include the costs of preparation and examination of accounts, the costs of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters. {xiii) Grants with performance conditions Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output. 231Page
KIRKPATRICK MEMORIAL PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS 310ecember 2022 ACCOUNTING POLICIES (cont'd) (xiv) Grants payable without performance conditions These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity. (xv) Support costs Support costs include central functions ar)d have been allocated to activity cost categories on a basis consistent with the use of resources, e.g. allocating property costs by floor areas, or per capita. staff costs by the time spent and other costs by their usage. ASSETS (xvi) Tangible Fixed Assets Tangible fixed assets for use by the charity are capitalised if they can be used for more than one year, and cost at least £2,500. They are valued at cost or if gifted. at the value to the charity on receipt. Depreciation is recorded on all tsngible fixed assets other than freehold land, at rates calculated to write off the cost. less estimated residual value, of each asset over its expected useful life as follows Buildings: Fixtures, fittings and equipment Motor Vehicles over 50 years - over 10 years - over 4 years - over 4 years Computers, software and technical equipment Where depreciation is calculated for a tangible fixed asset. the depreciation commences in the first full year of ownership of the asset. 241Page
an KIRKPATRICK MEMORIAL PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont'd) 31 December 2022 (xvii) Investments Investments quoted on a recognised stock exchange are valued at market value at the year- end. Other investment assets are included at the trustees. best estimate of market value. DONATIONSAND LEGACIES Recorded giving". Loose collections Donations and gifts Gift Aid Legacies and bequest 219,566 4,525 1.020 54,829 1,800 85,086 304,651 305,383 4,525 1,635 26,972 17,171 80,223 68,602 1,800 21000 25,952 25,394 281,739 136,432 418,171 413,791 CHARITABLE AcfiviTI ES li IJ Income from charitable activities Church Publications Weddings Grants 910 1,153 2,064 2,727 285 240 285 240 60 1,435 1,153 2,589 2,787 251 Page
Presbyter an KIRKPATRICK MEMORIAL PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (convd) 31 December 2022 OTHER TRADING AcfiviTIES li I: Letting of premises Membership Fees 3,610 3,610 8,685 1.270 4.430 8,685 3,610 8,685 12,295 5,700 5. INVESTMENTS li I: Deposit interest 451 105 556 323 451 105 556 323 6. OTHER INCOME Miscellaneous income 326 294 620 345 261Page
an KIRKPATRICK MEMORIAL PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont'd) 31 December 2022 7. RAISING FUNDS FWO envelopes Fundraising events 255 255 291 255 255 291 CHARITABLE AcfiviTIES General Assembly Assessments Presbytery fees Ministry and support staff costs 31.886 1.086 115.440 31.886 1.086 126,680 20,202 1.108 67.071 11.240 Congregational running expenses 82.589 29,084 111,673 90,002 Buildings - Professional Fees Donations - Missions & Charities Governance costs 19.435 86,610 19,435 86,610 3.094 2,426 84.985 2,400 3.094 234,095 146.369 380.464 268.194 271Page
Presbyter an KIRKPATRICK MEMORIAL PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Iland NOTES TO THE ACCOUNTS (conyd) 31 December 2022 EMPLOYEES Employment Costs Wages and Salaries Social Security Costs Pension contributions 101.149 8,842 13,022 37,904 889 1,549 123,013 40,342 Number of Employees The average number of employees, including the minister of the congregation, during the year, was Average number of employees There were no employees in receipt of employee benefits (excluding pension contributions) in excess of £60,000. 281 Page
an KIRKPATRICK MEMORIAL PRESBYtERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNT5 (cont'd) 31 December 2022 10. PENSION cosrs The minister of the congregation is a member of the Presbyterian Church in Ireland Pension Scheme (2009). This is a scheme operated by the Presbyterian Church in Ireland, a separately registered charity. The congregation pays an assessment to the Presbyterian Church in Ireland equivalent to the employer's pension contribution for the Scheme and based on the stipend paid to the minister. The Presbyterian Church in Ireland Pension Scheme {2009) is a funded Scheme of the defined benefit type, providing defined benefits based on career average revalued salary. The Scheme has assets held in a separately administered fund managed by a board of trustees. The Presbyterian Church and the Scheme Trustees have agreed on a funding plan to ensure the Scheme is sufficiently funded to meet current and future obligations. A formal schedule of contributions was drawn up on 25 November 2015 whereby the Presbyterian Church agreed to pay from 31 December 2015 contributions of 24% of pensionable salaries to cover the accrual of benefits for future service, expenses, the cost of insuring death in service benefits and funding the scheme deficit. The contributions made by the congregation during the year were Contributions 11,558 131 The congregation operates a defined contribution pension scheme for its employees. The scheme and its assets are held by an independent scheme manager. The pension charge represents the contributions due from the congregation during the year Contributions 1,464 1,418 291Page
Presbyter an KIRKPATRICK MEMORIAL PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (convd) 31 December 2022 11. TANGIBLE FIXED ASS5 Cost or valuation At start of year Additions Disposals 400,000 15,554 54,136 415.554 54,136 At end of year 400,000 69,690 469,690 Depreciation At start of year Provision for year Disposals 756 3.511 756 3,511 At end of year 4,267 4,267 Net Book Value At start of year 400,000 14,798 414,798 At end of year 400,000 65,423 465,423 Where depreciation is calculated for a tangible fixed asset. the depreciation, as per Note l(xvi), commences in the first full year of ownership of the ast. Land and Buildings consist of two classes of assets. The first class is church property which is used to carry out the activities of the church. This class is carried at cost and depreciated over the estimated economic life of 50 years. However. given the age of the prernises in question, it 15 deemed to be fully written off and have nil carrying value at 31 December 2022 and 2022 on a cost basis. 301 Page
an KIRKPATRICK MEMORIAL pRES8ERlAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (convdl 31 December 2022 The second class is a residential property that is made available to employees of the church. The property in question is the rnanse and it has been valued at £400,000, the value set by the local rating authority. Given the nature of the properties and ongoing maintenance/repairs to which they are subject. no depreciation is applied as the residual value is considered to be at least equal to the carrying valuation. 12. DEBTORS 2022 2021 Gift Aid Recoverable Prepayments & Accrued Incorne 25,770 68,369 6,233 5,777 32.003 74,146 13. CASH AT BANK AND IN HAND (CA = Current Account. DP = Deposit Account) 2022 2021 General Fundlulster Bank CA General Fund/Danske Bank CA General Fund/Progressive BS DP Property Fund/Ulster Bank CA Property Fund/Danske Bank CA Property Fund/Danske Bank DP Mercy Fund/Danske Bank CA Presbyterian Women/Danske Bank CA Girls Brigade/Danske Bank CA The Globe Cafe/Danske Bank CA Boys Brigade/First Trust Bank DP Kirkpatrick Tots/Ulster Bank CA Friendship Club/Cash in hand 75.746 189,793 45,000 13.963 199.543 85,352 10.562 1.232 1,733 2.359 2. 168 664 1,252 70,411 173,188 45,000 13,838 209,070 85,248 10,957 1,026 1,646 1,390 1,378 787 394 629,367 614,332 311 Page
an KIRKPATRICK MEMORIAL PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS {conVdl 31 December 2022 14. CREDITORS: amount falling due within one year 2022 2021 Agency collections Accounts Payable [438] [425] 43.095 73.077 42,657 72,652 15. CREDITORS: amount falling due after more than one year 2022 2021 321Page
an KIRKPATRICK MEMORIAL PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS {cont'd) 31 December 2022 16. FUND BALANCES AND RECONCILIATION OF FUNDS Fund Balance at Income start Expend. Transfer Balance at end Unrestricted Funds General Fund 349,580 287,561 234,350 [64,764] 338,027 Restricted Funds Property Fund Mercy Fund United Appeal Fund General Mission Fund World Dev App Fund Moderators App Fund Mission Partner Fund Flower Fund Ch Family Event5 Fund Friendship Club Boys Brigade Gir15 Brigade GB Extra The Globe Cafe Women'5 Events Fund Kirkpatrick Tots Presbyterian Women Duke of Edinburgh Sch 660,072 11,435 3,096 24 160 102.267 4,004 6,965 790 5,067 11,028 883 64 35,776 4,728 17,424 7,164 5,810 11,028 43,800 86 2,586 981 3,647 1,413 1,888 3,009 1,388 1,057 1,212 3,373 726,564 10,712 7,363 6,350 583 196 42,721 22 2,586 100 499 1,378 1,646 65 429 100 1,252 2,168 1,733 1.735 4,437 1,501 1,390 1,379 433 2,750 1,388 1,549 787 1,158 933 1,422 2,805 664 1,369 568 681,044 146,670 146,369 64,764 746,109 Total 1,030,625 434,231 380,719 1,084,137 There may be minor discrepancies in the totals (not exceeding £1) due to rounding. 331 Page
an KIRKPATRICK MEMORIAL PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont'd) 31 December 2022 17. RELATED PARTYTRANSAcfioN One of the Trustees, Rev Graeme Kennedy, the minister of the congregation, received remuneration of £48,158.48 and expenses of £6,038.87 for acting in that capacity. A pension contribution of £11,557.71 was paid by the congregation in respect of the minister to the Presbyterian Church in Ireland Pension Scheme {20091 again for acting as Minister to the congregation. None of the other trustees received any remuneration. During the year the congregation contributed the following amounts to Funds of the General Assembly of the Presbyterian Church in Ireland a separate charity £31,885 £17,424 £5,810 £33 £10,996 for Congregational A5se5smentS for the United Appeal for the World Development Appeal for the 2020 Moderators Appeal 'At home for Christmas, for the 2022 Moderators Appeal 'Ukraine' The congregation paid £1.086 a5 Presbytery Assessments during the year There were no other related party transactions. 341 Page