St. ANDREW'S CONGREGATION of the PRESBYTERIAN CHURCH IN IRELAND STATEMEKf OF FINANCIAL AcfiviTY for the year ended 31 December 2023 Income and Endowments from.. Donations and legacles Charitable activities Other tradin8 activities Investments Other 128,527 $9,826 188,353 170,128 1,395 1,395 369 Total 129,922 59,826 189,748 170,497 Expendlture on: Raising funds Charitable activlties Other 524 148,867 100,489 524 458 0 249,356 212,101 Total 149,391 100,489 249,880 212,559 Net gains/(Ios5es) on investments Net Income / (expendlture) Transfers between funds Gains/{losses) on revaluation of fixed assets {19,469) {40,663) (1,014) 1,014 0 {60,132) (42,0621 Net movement In funds Reconciliation of funds: Total funds brought forward {20,483} (39,649) 0 (60,132) (42,062) 94,516 467,273 0 561,789 603,851 Total funds carrled forward 74,033 427,624 0 501,657 561,789 22
St. ANDRWS CONGREGATION ofthe PRESBYfERIAN CHURCH IN IRED BALANCE SHEET As at 31 December 2023 Fixed assets: Tangible assets Heritage assets Investments 12 861 365,052 365,913 376,233 13 Total flxed assets 861 365,052 365,913 376,233 Current assets Debtors 14 26,725 8.125 Current Investments Cash at bank and in hand 34,850 36,843 15 52,773 60,078 112,851 158,540 Totsi current assets 79,498 68,203 0 147,701 195,383 Llabllltles: Creditors: Amounts falling due within one year 16 6,326 5,631 11,957 9,827 Net current assets 73,172 62,572 135,744 185,556 Total assets less current Ilabllltles Creditors.. Amounts falllng due after 17 more than one year Provisions for liabillties 74,033 427,624 0 501,657 561,789 Total net assets 74,033 427,624 501,657 561,789 23
St. ANDREW'S CONGREGATION ofthe PRESBYTERIAN CHURCH IN IRELAND BALANCE SHEET (convd) As at 31 December 2023 Funds of the charlty Endowment funds Restricted income funds Unrestricted funds Revaluatlon reserve 18 18 0 427,624 74,033 427,624 74,033 467,273 94,516 18 Totsl charlty funds 74,033 427,624 501,657 561,789 Approved by the Kirk Session at a meetin8 on 27th February 2024 and signed on Its behalf by Name Rev. R,S. Alcken K. Brown Date 27th February 2024 27th February 2024 24
St. ANDREWS CONGREGATION of the PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2023 ACCOUNTING POUCIES BASIS OF FINANCIAL STATEMENTS The flnanclal statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practi applicable to charities preparing their accounts in accordance with Financlal Reportin8 Standard applicable in the UK and Ireland IFRS102} {effettive l January 2015). The financlal statements have been prepared under the historical cost convention except for investment assets, which are shown at market value. The financial statements include all transactions, assets and liablllties for whlch the congregation is responsible in law. They do not include the accounts of church 8roups that owe their afflliation to another body, nor those that are informal gatherings of church members. FUND ACCOUNTING Endowment funds are funds, the capital of whlch must be retalned elther permanently or at the congregatlon's discretion; the income derived from the endowment 15 to be used elther as restrlcted or unrestrlcted income funds depending upon the purpose for which the endowment wa5 e5tsblished in the first place. Restrlcted 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 speciflc congregatlonal 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. 25
St. ANDRWS CONGREGATION ofthe PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2023 ACCOUNTING POUCIES(conVd) INCOMING RESOURCES (l) Recognltion of Incomlng resources These are included in the Statement of Financial Activities (SOFA) when: the congregation becomes entitled to the resources," the trustees are vlrtually certain they wlll recelve the resources," and the monetary value can be measured with 5ufflclent reliably. {11) Incomln8 resources wlth related expendlture Where Incoming resources have related expenditure {as with fundraising income) the incoming reSoUrS and related expenditure are reported gross in the SOFA. (111) Grants and donatlons Grants and donatlons are only Included In the SOFA when the congregation has unconditlonal entltlement to the resources. (Iv) Tax reclalms on donatlons and glfts Incoming resources from tax reclalms are included In the SOFA at the same tlme as the gift to whlch they relate. (v) Contractual Income and performance related grants This is only included in the SOFA once the related goods or servlces have been delivered. (vl) Gifts In klnd Gifts in kind are accounted for at a reasonable estimate of their value to the charlty or the amount actually reallsed. Glfts 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 recelvable. 26
St. ANDREWS CONGREGATION of the PRESBYfERIAN CHURCH IN IREIAND NOTES TO THE ACCOUNTS 31 December 2023 ACCOUNTING POUCIES (conyd) (vli) Donated services and facllitles 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 resource5 IS the estimated value to the charity of the service or facility received. (vlll) Voluntser help The value of any voluntary help received Is not included in the accounts but Is descrlbed In the trustees, annual report. {Ix) Investment Income Thls is included in the accounts when receivable. (x) Investment galns and losses This Includes any gain or Ios5 on the sale of Investments and any galn or loss resulting from revaluing investments to market value at the end of the year. EXPENDITURE AND LIABILITIES {xl) Llablllty recognltlon Llabillties are recognised as soon as there is a legal or construttive obligation committing the congregatlon to pay out resources. (xll) Governance costs These are shown withln charitable actlvitles and Include the costs of preparation and examlnatlon of accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters. (xlll) Grants wlth performance condltlons Where the charity gives a grant with conditlons for its payment being a specific level of service or output to be provided, such 8rants are only recognlsed In the SOFA once the recipient of the grant has provided the specified service or output. 27
St, ANDREW'S CONGREGATION of the PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2023 ACCOUNTING POUCIES {conVd) (xtv) Grants payable without performance condltlons These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the 8rant which remain in the control of the charity. ASSETS {xv) Tanglble Flxed Assets Tangible fixed assets for use by charlty 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 estlmated residual value, of each asset over its expected Useful Ilfe as follow5 Bulldlngs: Fixtures, fittlngs and equ5pment Motor Vehicles Computers, software and technical equlpment over 50 years - over 10 years over 4 years over 4 years (xvl) Investments Investments quoted on a recogni5ed stock exchange are valued at market value at the year end. Other investment assets are included at trustees, best estimate of market value. 28
St. ANDREW'S CONGREGATION of the PRES8YfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (conyd) 31 December 2023 DONATIONS AND LEGACIES Recorded giving: Loose collettions Donations and glfts Gift Aid Legacies and bequest 952 108,297 50,379 17,278 9,447 2,000 952 1,068 158,676 142,161 26,725 26,899 128,527 59,826 188,353 170,128 CHARITABLE AcfiviTIES Income from charitable activities Fees from weddings and funerals Membership fees Fundraising event5 Grants 29
St. ANDREW'S CONGREGATION of the PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (conyd) 31 December 2023 OTHER TRADING AcfiviTIES Letting of premises Tradlng Income INVESTMENTS Deposit Interest General Investment Fund Property Rents Other investment income 1.395 1,395 369 1,39S 1,395 369 30
St. ANDREWS CONGREGATION of the PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (convd) 31 December 2023 OTHER INCOME Insurance claims Other income RAISING FUNDS FWO envelope5 Loose Offerings Fundraising events 524 524 458 524 524 458 31
St. ANDREWS CONGREGATION of the PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (convd) 31 December 2023 8.CHARITA8LE AcfiviTIES General Assembly Assessments Presbytery fees Mlnistry and support staff costs Congregational running expenses Donations to Missions and charities Governance costs 11,694 778 65.455 52,243 11,694 778 65,455 102,804 10,815 737 60,767 80,964 50.561 18,697 49,928 68,625 58,818 148,867 100,489 249,356 212,101 9. OTHER EXPENDITURE Investment properties expenses 32
St. ANDREWS CONGREGATION of the PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (convd) 31 December 2023 10. EMPLOYEES Employment Costs Wages and Salaries Social Security Costs Pension contributions 50,635 47,332 5,930 5,169 8,890 8,266 65,455 60,767 Number of Employees The average number of employees, including the minister of the congregatlon, durlng the year was Average number of employees There were no employees in receipt of employee benefits in excess of £60,000. 33
St. ANDREW'S CONGREGATION of the PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (conyd) 31 December 2023 11. PENSION cosrs The mlnister of a 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 separate registered charity. The congregation pays an assessment to the Presbyterlan Church in Ireland equivalent to the employerfs pension contribution for the Scheme and based on the stipend pald to the min15ter. The Presbyterian Church in Ireland Pension Scheme (2009) is a funded Scheme of the deflned beneflt type, provlding 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 a fundin8 plan to ensure the Scheme is sufficiently funded to meet current and future obligatlons. A formal schedule of contributions was drawn up on 25 November 2015 whereby the Presbyterian Church agreed to pay from 31 December 2015 contributlons of 24% of pensionable salarles to cover the accrual of benefits for future service, expenses, the cost of Insuring death in service benefits and funding the scheme deficit. The contrlbutlons made by the congregation durin8 the year were Contrlbutions 8,890 8,266 The Assistant Mlnister and the Intern were not members of a pension scheme. Contributlon5 34
St. ANDREWS CONGREGATION of the PRESBVTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (conyd) 31 December 2023 12. TANGIBLE FIXED ASSETS Cost or valuatlon At start of year Additions Disposals 421,650 109,761 1,449 15,862 547,273 1,449 At end of year 421,650 111,210 15,862 548,722 Depreclatlon At start of year Provlsion for year Disposals 49,226 7,372 105,952 4,397 15,862 171,040 11,769 At end of year 56,598 110,349 15,862 182,809 Net Book Value At start of year 372,424 3,809 376,223 At end of year 365,052 861 365,913 13. INVESTMENTS 2023 2022 General Investment Fund Investment Properties 35
St. ANDREWS CONGREGATION of the PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (convd) 31 December 2023 13. INVESTMENTS {ConVd) 2023 2022 Value at start of year Additions Disposals Impairment Gains / (Losses on revaluation) Value at end of year 14. DEBTORS 2023 2022 Gift Ald Recoverable Prepayments 26,725 8,125 26,899 9,944 34,850 36,843 15. CASH AT BANKAND IN HAND 2023 2022 Danske Bank current account Post Office current account Danske Bank deposit account Cash in hand 19,367 236 93,248 66,209 236 92,095 112,851 158,540 36
St. ANDREW'S CONGREGATION of the PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE AccouKfs {conVd) 31 December 2023 16. CREDITORS: Amounts falllng due wlthln one year 2023 2022 Trade Creditors 11,957 9,827 11,957 9,827 17. CREDITORS: Amounts fallln8 due after more than one year 2023 2022 St Andrews has not reached agreement with P.C.l. on the £300,000 Ilability on the Church Buildin8 37
St. ANDREW'S CONGREGATION of the PRESBYfERJAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (convd) 31 December 2023 18. FUND BALANCESAND RECONCIUATION OF FUNDS Fund Balance at start Income Expend. Gains/ Transfer Balance Losses at end Unrestrkted Funds General Fund 94,516 129,922 (149,391) (1,014) 74,033 94,516 129,922 (149,391) (1014) 74,033 Restrlcted Funds Tan8ible Assets Property Fund General Missionary Fund Rivero Support Fund Rivero Education Fund Rivero Gift Benevolent Fund United Appeal World Development Royal British Legion Tear Fund Christlan Aid Turkey Flower Fund 372,424 87,013 17,723 6,381 5,479 15,331 4,800 1,083 370 9,666 1,663 145 1,128 313 2,125 (7,3721 {43,131) (12,707) (15,331) (4,800) (1,250) (800) {9,666) {1,6631 (145) (1,128) (313) (2,125) (58) 0 365,052 61,605 847 1,125 167 695 330 272 467,273 59,826 {100,489) 1,014 427,624 Endowment Funds Total 561,789 189,748 (249,880) 501,657 38
St. ANDRWS CONGREGATION ofthe PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS {conVd) 31 DECEMBER 2023 19. RELATED PARTY TRANSAcfioNS One of the Trustees, the Minister of the Congregation recelved remuneration of £37,540 and expenses of £6,701 for acting In that capacity. Pension contributions of £8,890 were pald by the Congregation in respect of the Minister to the Presbyterlan Church in Ireland Pension Scheme (2009). None of the other trustees reiVed any remuneration, but one trustee is a Director in the company that provides the musical ServIS to the Con8re8ation and it was paid £7,600. During the year the Congregatlon contributed the followin8 amounts to Funds of the General Assembly of the Presbyterian Church in Ireland a separate charity: £11,694 for Congregational Assessments £9,666 towards the United Appeal £1,663 towards the World Development Appeal During the year the Congregation contrlbuted the following amount to East Belfast Presbytery a separate charity.. £778 There were no other related transattions. 39