SINCLAIR SEAMEN'S CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
Financial Statements for the year ended 31st December 2022
Registered Charity in Northern Ireland (NIC104375)
Sinclair Seamen's Presbyterian Church - a Congregation of The Presbyterian Church in Ireland
Statement of Financial Activity ( Receipts and Payments Account ) Year ended 31 December 2022
| Unrestricted | Restricted | Endowment | Total | Total | ||
|---|---|---|---|---|---|---|
| Notes | Funds | Funds | Funds | 2022 | 2021 | |
| £ | £ | £ | £ | £ | ||
| Receipts | ||||||
| Donations and legacies | 2 | £53,223 | £17,527 | £0 | £70,750 | £66,336 |
| Charitable activities | 3 | £425 | £0 | £0 | £425 | £0 |
| Other trading activities | 4 | £5,250 | £0 | £0 | £5,250 | £5,250 |
| Investment Income | 5 | £1,398 | £0 | £0 | £1,398 | £1,382 |
| Other | 6 | £0 | £106 | £0 | £106 | £0 |
| Organisations | £0 | £1,216 | £0 | £1,216 | £818 | |
| Sale of Investments | 0 | 0 | 0 | 0 | 0 | |
| Sale of fixed assets | 0 | 0 | 0 | 0 | 0 | |
| Loans Received | 0 | 0 | 0 | 0 | 0 | |
| Total Receipts | £60,296 | £18,849 | £0 | £79,145 | £73,786 | |
| Payments | ||||||
| Raising funds | 7 | £607 | £0 | £0 | £607 | £572 |
| Charitable activities | 8 | £50,358 | £12,208 | £0 | £62,566 | £66,279 |
| Investment costs | £0 | £0 | £0 | £0 | £0 | |
| Other | 9 | £2,326 | £0 | £0 | £2,326 | £274 |
| Organisations | £0 | £1,225 | £0 | £1,225 | £808 | |
| Purchase of Investments | 0 | 0 | 0 | 0 | 0 | |
| Purchase of fixed assets | 0 | 0 | 0 | 0 | 0 | |
| Loan Repayments | 0 | 0 | 0 | 0 | 0 | |
| Total Payments | £53,291 | £13,433 | £0 | £66,724 | £67,933 | |
| Net receipts / (payments) | £7,005 | £5,416 | £0 | £12,421 | £5,853 | |
| Transfers between funds | -£1,011 | £1,011 | £0 | £0 | £0 | |
| Net movement in funds | £5,994 | £6,427 | £0 | £12,421 | £5,853 | |
| Funds brought forward | £365,656 | £38,142 | £0 | £403,798 | £397,945 | |
| Funds carried forward | 12 | £371,650 | £44,569 | £0 | £416,219 | £403,798 |
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Sinclair Seamen's Presbyterian Church - a Congregation of The Presbyterian Church in Ireland
Statement of Financial Activity ( Receipts and Payments Account ) Year ended 31 December 2022
| Unrestricted Restricted Endowment Funds Funds Funds £ £ £ Funds Reconciliation Bank and Cash at start of year £365,656 £38,142 £0 Net movement in funds £5,994 £6,427 £0 Bank and Cash at end of year £371,650 £44,569 £0 Bank & Cash Balances Bank Current Account - General Bank Current Account - Property Nationwide Building Society Bank Current Accounts - Organisations Sub total Endowment Funds Total Other Assets Church Premises Fixtures and Fittings Vehicles Gift Aid receivable on donations Other assets Liabilities Loans Other liabilities Fixed Assets -Note 10 Investments - GIF -Note 11 |
Unrestricted Restricted Endowment Funds Funds Funds £ £ £ £365,656 £38,142 £0 £5,994 £6,427 £0 |
Total Total 2022 2021 £ £ £403,798 £397,945 £12,421 £5,853 |
|---|---|---|
| £371,650 £44,569 £0 |
£416,219 £403,798 |
|
| £285,138 £280,251 £43,751 £37,198 £86,512 £85,405 £818 £944 |
||
| £416,219 £403,798 £0 £0 £416,219 £403,798 |
||
| £8,799 £9,587 £10,133 £8,445 0 0 0 0 |
Approved by the Kirk Session at a meeting on Wednesday 8th February 2023 and signed on its behalf by
Name: Mr William Greer Name: Mr Samuel Heading Date 8th February 2023 Date: 8th February 2023
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Sinclair Seamen's Prersbyterian Church - a Congregation of The Presbyterian Church in Ireland Statement of Financial Activity ( Receipts and Payments Account ) Year ended 31 December 2022
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.
2. DONATIONS AND LEGACIES
| Recorded givings Loose collections Donations and gifts Gift Aid Legacies and bequests |
Unrestricted Restricted Endowment Total Total Funds Funds Funds 2022 2021 £ £ £ £ £ £41,691 £13,610 £0 £55,301 £49,432 £4,137 £618 £0 £4,755 £5,443 £200 £361 £0 £561 £2,832 £7,195 £2,938 £0 £10,133 £8,445 £0 £0 £0 £0 £184 £0 |
|---|---|
| £53,223 £17,527 £0 £70,750 £66,336 |
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Sinclair Seamen's Presbyterian Church - a Congregation of The Presbyterian Church in Ireland
Statement of Financial Activity ( Receipts and Payments Account ) Year ended 31 December 2022
3. Charitable Activities
| Fees from weddings and funerals Fundraising events Membership fees Grants - Urban Mission Trust Income: Presbyterian Herald |
Unrestricted Restricted Endowment Total Total Funds Funds Funds 2022 2021 £ £ £ £ £ £225 0 0 £225 0 £200 0 0 £200 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 |
|---|---|
| £425 £0 £0 £425 £0 |
4. Other Trading Activities
| Letting of premises Vodaphone |
Unrestricted Restricted Endowment Total Total Funds Funds Funds 2022 2021 £ £ £ £ £ 0 0 0 0 0 £5,250 0 0 £5,250 £5,250 |
|---|---|
| £5,250 0 0 £5,250 £5,250 |
5. Investment Income
| Nationwide Deposit interest General Investment Fund Rents investment properties Other investment income |
Unrestricted Restricted Endowment Total Total Funds Funds Funds 2022 2021 £ £ £ £ £ £1,107 0 0 £1,107 £1,102 £291 0 0 £291 £280 0 0 0 0 0 0 0 0 0 0 |
|---|---|
| £1,398 £0 £0 £1,398 £1,382 |
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Sinclair Seamen's Presbyterian Church - a Congregation of The Presbyterian Church in Ireland Statement of Financial Activity ( Receipts and Payments Account ) Year ended 31 December 2022
6. Other Income
| Other income FWO envelopes General Assembly Assessments Presbytery fees Ministry and support staff costs Congregational running expenses Donations to Missions and Charities Church Building Survey Goverance Costs 7. Raising Funds Sunday School Expenses Bank Charges 8. Charitable Activities VAT Refund |
Unrestricted Restricted Endowment Total Total Funds Funds Funds 2022 2021 £ £ £ £ £ 0 £106 0 £106 0 0 0 0 0 0 |
|---|---|
| 0 £106 0 £106 0 |
|
| Unrestricted Restricted Endowment Total Total Funds Funds Funds 2022 2021 £ £ £ £ £ £607 0 0 £607 £572 0 0 0 0 0 |
|
| £607 0 0 £607 £572 |
|
| Unrestricted Restricted Endowment Total Total Funds Funds Funds 2022 2021 £ £ £ £ £ £9,066 £0 £0 £9,066 £9,778 £388 £0 £0 £388 £490 £29,226 £0 £0 £29,226 £25,435 £11,204 £2,669 £0 £13,873 £11,531 £0 £9,539 £0 £9,539 £10,158 £102 £0 £0 £102 £154 £132 £0 £0 £132 £153 £0 £0 £0 £0 £8,580 £240 £0 £0 £240 £0 |
|
| £50,358 £12,208 £0 £62,566 £66,279 |
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Sinclair Seamen's Presbyterian Church - a Congregation of The Presbyterian Church in Ireland
Statement of Financial Activity ( Receipts and Payments Account ) Year ended 31 December 2022
9. Other Expenditure
| 9. Other Expenditure | |
|---|---|
| Vodaphone: Cost of Living' Gifts Presentations |
Unrestricted Restricted Endowment Total Total Funds Funds Funds 2022 2021 £ £ £ £ £ £450 0 0 £450 £210 £1,876 0 0 £1,876 £64 |
| £2,326 0 0 £2,326 £274 |
10. Fixed Assets
| The congregation owns the Church premises situated at Corporation Square, | |
|---|---|
| Belfast BT1 3AJ and the associated fixtures, fittings, plant and machinery. | |
| The congregation also own the Church manse situated at 11 Meadow Dale, Newtownabbey BT37 0UT. | |
| These have an insurance value of : £ |
|
| Church Hall Building & Contents £672,319 |
Total value |
| Church Building & Contents £2,638,392 |
£ |
| Church Manse £507,621 |
£3,818,332 |
11. Investments
The congregation has the following investments. Amounts are shown at market valuation
| General Investment Fund at market valuation Property Other investments |
2022 2021 £ £ £8,799 £9,587 0 0 0 0 |
|---|---|
| £8,799 £9,587 |
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Sinclair Seamen's Presbyterian Church - a Congregation of The Presbyterian Church in Ireland
Statement of Financial Activity ( Receipts and Payments Account )
Year ended 31 December 2022
12. Fund Balances
| 12. Fund Balances | |
|---|---|
| Unrestricted Funds Royal National Lifeboat Our Daily Bread Organisations Endowment Fund Restricted Funds Maintenance of Property Mission: United Appeal Open Doors Mission (Name of Fund) Earl Haig Fund Tear Fund Ulster Bank General Fund Nationwide Building Society |
Balance Receipts Payment Surplus / Transfers Balance at start (Deficit) at end £ £ £ £ £ £ £280,251 £59,189 £53,291 £5,898 -£1,011 £285,138 £85,405 £1,107 £0 £1,107 £0 £86,512 |
| £365,656 £60,296 £53,291 £7,005 -£1,011 £371,650 |
|
| £37,198 £9,222 £2,669 £6,553 £0 £43,751 £0 £3,995 £4,923 -£928 £928 £0 £0 £2,912 £2,912 £0 £0 £0 £0 £162 £162 £0 £0 £0 £0 £1,142 £1,142 £0 £0 £0 £0 £200 £200 £0 £0 £0 £0 £0 £200 -£200 £200 £0 £944 £1,216 £1,225 -£9 -£117 £818 £0 |
|
| £38,142 £18,849 £13,433 £5,416 £1,011 £44,569 |
|
| NIL NIL NIL NIL NIL NIL |
|
| Total Funds | £403,798 £79,145 £66,724 £12,421 £0 £416,219 |
| General Investment Fund | Valuation at Start Revaluation Decrease Revaluation at End £ £ £ £9,587 £788 £8,799 |
General Investment Fund: 720 Shares Fixed Asset Market Share Value @ 31st Dec 2021: £13.3155 ea. 31st Dec 2022 : £ 12.2209 ea.
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