Presbyter an KIRKPATRICK MEMORIAL pREsB￿ER1AN CHURCH a Congregation of The Presbyterian Church in Ireland STATEMENT OF FINANCIAL AcfiviTY for the year ended 31 December 2022 Incorne and Endowrnents from: Donations a nd legacies Charitable activities Other trading activities Investments Other 281,739 1,435 3,610 451 326 136,432 1,153 8,685 105 418,171 2,589 12.295 556 620 413,791 2,787 S,700 323 294 345 Total 287,561 146.670 434,231 422.946 Expenditure on.- Ra ising funds Charitable activities 255 234,095 255 380,464 291 268.194 146.369 Total 234.350 146,369 380,719 268,485 Net gains/{lossesl on investments Net Income / (expenditure) 53,211 301 53,512 154,461 Transfers between funds 164,7641 64.764 Net movernent in fund5 Reconciliation of funds.. Total funds brought forward 111.5541 65,065 53.512 154,461 349,580 681.044 1,030,625 876,164 Total funds carrled forward 338.027 746,110 1,084, 137 1,030.625 There may be minor discrepancies in the totols Inot exceeding £lJ due to rounding 181 Page an KIRKPATRICK MEMORIAL pREsB￿ER1AN CHURCH a Congregation of The Presbyterian Church in Ireland BALANCE SHEET A5 of 31 December 2022 Flxed assets.. Tangible assets li 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 a55et5 or liabilities 326,740 291,973 618,713 615,826 Total assets less current li3bilitie5 338,027 746,110 1,084,137 1,030,625 Creditors.. Amounts falling due fter more than one year Provisions for liabilities 15 Total net assets or liabilitie5 338,027 746,110 1,084,137 1,030,625 There may be minor diTscreponcies in the tota15 (not exceeding £1) due to roundlng. an KIRKPATRICK MEMORIAL pREsB￿ER1AN CHURCH a Congregation of The Presbyterian Church in Ireland BALANCE SHE As of 31 Decernber 2022 Fund5 of the charity Restricted income funds 16 746,110 746,110 681,044 Unrestricted funds 16 338,027 338,027 349,580 Totsl 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-- Graerne Kennedv 15 May 2023 Gareth Irwin 15 May 2023 20IP3ge an KIRKPATRICK MEMORIAL PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS 31 December 2022 ACCOUNTING POLICIES BASIS OF FINANCIAL STATEMENTS The f inancial staternents 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 U K and Ireland IFR51021 leffective l January 20151. The financral statements have been prepared under the historital t05t convention except for investment assets, which are shown at market value. The f inancial statements include all transactions, assets and liabilities for which the congregation is re5por15ible in law. They do not include the accounts of church groups that owe their affiliation to another body, rior those 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 ineome 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 com prise lal income from endowments which is to be expended only on the restricted purposes intended by the donor and (bl revenue donations or grants for a specific congregational activity intended by the donor. Where these funds have unspent balances, interest on their pooled investrnent is apportioned to the individual funds on an average balance basis. Unrestricted funds are income funds that are to be spent on the congregation's general purpose5. Designated funds are general funds set aside by the congregation for use in the future. 211Page an KIRKPATRICK MEMORIAL PRESB￿ERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS 31 December 2022 ACCOUNTING POLICIES IconVd} INCOMING RESOURCES li) Recognition of incoming resources These are included in the Statement of Financial Activitie5 ISOFAI when.. the congregation becomes entitled to the resources,. the trustees are virtually certa in they will receive the resources,. and the monetary valLte can be measured with sufficient reliability. (111 Incoming resources with related expenditure Where incoming resources have related expenditure las Wlth fundraising income) the incoming resources and related expenditure are reported gross in the SOFA. (liil Grants and donations Grants and donations are only included in the SOFA when the congregation has an uncond itional entitlement to the resources. (iv) Tax reclairns 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. Iv) Contrartual income and perforrnance-related grants This is only included in the SOFA once the related goods or services have been delwered. (vil 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 a5 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 pRE5B￿ERIAN CHURCH Congreeation of The Presbyterlan Church in Ireland NOTES TO THE ACCOUNTS 31 December 2022 ACCOUNTING POLICIES (cont'dl Ivii) Donated services and facilities 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 rraterial. The value placed on these resources is the estimated value to the charity of the service or facility received. {viiil Volunteer help The value of any voluntary help received is not included in the accounts but is described in the trustees. annual report. lixl Investment Income This is included in the accounts when receivable. Ixl 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 ma rket value at the end of the year. EXPENDITURE AND LIA81LITIES Ixil Liability recognition Liabilities are recognised as soon a5 there is a legal or constructive obligation committing the congregation to pay out resources. Ixii) 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. {xiiil Grants with performance condition5 Where the charity gives a grant with condition5 for its payment being a specif ic 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. 231 Pag an KIRKPATRICK MEMORIAL PRES8￿ERlAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTESTO THE ACCOUNTS 31 December 2022 ACCOUNTING POLICIES Icont'dl {xiv} Grants payable without performance conditions These are only reeognised in the accounts when a commitment has been made and there are no condition5 to be met relating to the grant which remain in the control of the charity. Ixv) Support costs Support costs include central functions and 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 P£tr capita. stsff costs by thg timo spent and other costs by their usage. ASSETS Ixvil 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 tangible 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 yea rs over 10 years over4 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. 241 Page Presbyter an KIRKPATRICK MEMORIAL PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS Icont'd) 31 December 2022 {xvii) Investments Investment5 quoted on a recognised stoek excha nge are valued at market value at the year- end. Other investment assets are included at the trustees, best estirnate of market value. DONATIONS AND LEGACIES Recorded giving-. Loose collections Donation5 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 AcfiviTIES 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 an KIRKPATRICK MEMORIAL PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS Iconvd) 31 December 2022 OTHER TRADING AcfiviTIES 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 Deposit interest 451 105 556 323 451 ios 556 323 6. OTHER INCOME Miscellaneous income 326 294 620 345 261 Page an KIRKPATRICK MEMORIAL pRE$B￿ERlAN CHURCH Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS Icont'dl 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 Build ings 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 Presbyter KIRKPATRICK MEMORIAL pREsB￿ER1AN CHURCH a Congregatson of The Presbyterian Church in Ireland NOTE5 TO THE ACCOUNTS (convd) 31 December 2022 EMPLOYEES Employment Costs Wages and Salarie5 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 vear, 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 PREs8￿ER[AN CHURCH Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS {cont'dl 31 December 2022 io. PENSION cosrs The minister of the congregation is a member of the Presbyterian Church in Ireland Pension Scheme12009). 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'5 pension contribution for the Scheme and based on the Stipend paid to the minister. The Presbyterian Church in Ireland Pension Scheme120091 is a funded Scherne of the defined benefit type, providing defined benefit5 based on career average reva lued salary. The Scheme has a55ets held in a separately administered fund ma naged by a board of trustee5. 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 24Qh of pensionable salarie5 to cover the accrual of benefits for future service, expenses, the cost of n5uring death in service benef its 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 an KIRKPATRICK MEMORIAL PREs8￿ERlAN CHURCH Congregatlon of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS Icont'dl 31 December 2022 11. TANGIBLE FIXED ASSETS Cost or valuation At start of year Additions Disposals 400,000 15,554 415,554 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 depreeiation. as per Note Ilxvil, commences in the first f ull year of ownership of the asset. Land and Buildings consist of two classes of assets. The first class is church property which is used to carry out the artivitie5 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 premises in question, it is deemed to be fully written off and have nil carrying value at 31 December 2022 and 2022 on a cost ba51S. 301 Page an KIRKPATRICK MEMORIAL PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (convdl 31 December 2022 The second cla55 is a residential property that is made availa ble to employees of the church. The property in question is the ma n5e and it has been valued at £400,000, the value set by the local rating authoritv. 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 Income 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 Fund/Ulster Bank CA General Fund/Danske Bank CA General Fund/Progres5ive BS DP Property Fund/Ulster Bank CA Property Fund/Danske Bank CA Property Fund/Danske Bank DP Mercy Fund/Danske Bank CA Presbyterian WomenlDanske Bank C4 Girls Brig3de/Danske Bank CA The Globe Cafe/Danske Bank CA Boy5 Brigade/First Trust Bank DP Kirkpatrick Tots/Ulster Bank CA Friendship Club/C3sh in hand 75,746 189.793 45,000 13,963 199,543 85.352 10,562 1,232 1.733 2,359 2.168 6&1 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 an KIRKPATRICK MEMORIAL pRE5B￿ERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (convd) 31 December 2022 14. CREDITORS: amountfalling due within one year 2022 2021 Agency collections Accounts Payable [4381 14251 43.095 73.077 42.657 72,652 15. CREDITORS". amount falling due after more than one year 2022 2021 321Page an KIRKPATRICK MEMORIAL PRESBITERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS Icont'dl 31 December 2022 16. FUND BALANCES AND RECONCILIATION OF FUNDS Fund Balance at Income start Expend. Transfer Balance at end Unrestricted Funds General Fund 349,580 287.561 234,350 164,7641 338,027 Restricted Funds Property Fund Mercy Fund United Appe31 Fund General Mission Fund World Dev App FLJnd Moderators App Fund Mission Partner Fund Flower Fund Ch Family Events Fund Friendship Club Boy5 Brigade Girls Brigade GB Extra The Globe C3fé Women's 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,Q28 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 loo 499 1,378 1,646 65 429 loo 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. Presbyter an KIRKPATRICK MEMORIAL PRE5B￿ERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS {cont'dl 31 December 2022 17. RELATED PARTY TRANsA￿loN 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 Scheme120091 again for acting as Minister to the congregation. None of the other trustees received any rernuneration. 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 Assessments 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 as Presbytery Assessments during the year There were no other related party transactions.