an WOODVALE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND Financial Statements for the year ended 31 December 2023 Reglstered Charity In Northern Ireland (NIC104498)
INDEPENDEIYT EXAMINER'S REPORT We report on the financial statements of Woodvale Presbyterian Church for the year ended 3151 December 2023 which are set out on pages I to 7. Respective responsibllities of trustees and independent examiner: The Charity's mistees are responsibl¢ for the preparation of the financial ststements The trustees consider that an audit Is not requiTrd for this year under section 62(2) of the Charities Act (Northern Ireland) 2008 and that an independent examination is needed. li is our responsibility to examine the fmancial statements under section 65 of the Charities Act (Northem Ireland) 2008. to follow the procedures laid down in the general dirextion given by the Chanty ComTnission for Northem Ireland under section 65(9Xb) of the Charities Act (Northern Ireland) 2008 to state whether particulars matters have come to my attention Basis of the Independent examlner's statement Our examination was carried tn accordance with the general directions yiven by the Charities Commission for Northem Ireland. An ex8n)ination Includes a review of aLcountinb> records kept by the charity and a cornparLqon of the Financial Stat¢ment& presented with tlinsc rccords li a150 includes consideration of any Linusual items or disclosures in the accounts. and seeking Lxpl<2nalioiis froiii yoii as trustees toncernin8 any such rnalters. The procedures undertaken do noi providc all IliL IdLiicc diat woiild be required in an audit. and coi)sequently no opinion Is given as to whether the fin1( Iiciul siaiemenls present a "true and fair" and the report is Iiin Ited to those matters set oiit in the next staternenl Independent examiner'8 statement Iii co',Inection with our exaMution, no matter has come to our attention. l ) whiih gives us reasonable cause to believe that in any matenal respecl the rL'ciuireineiils to kept accounting records in accordance with section 63 of the Charit)es Act . to prepare fancIal Statements which accord with the ac¢ountin&i records and comply with the accoiinting TeqLiireiiicnts of the Charities Aci 2008. have iiot been iiicl or 2) io which. in oiir opiiiioii, attention shoiild be drawn in order to enable a proper iinderstanth'ng of tlic liiiancial statemei)Is to be reached lan Murray For and on behalf of laii Murray & Co. Ltd, Chartered Certified Accountan 27 Joymount, CatTickfergu5. BT38 7DN Dated: I Ith March 2024
Presbyter an WOODVALE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL AcllviTY (Receipts and Payments Account) for the year ended 31 December 2023 Note Unrestrlcted Funds Restrlcted Endowment Funds Funds Total 2023 Total 2022 Recelpts Donations and legacies Charitable activities Other trading activities Investment Income Other Organisations 63,291 1,962 7,544 70,835 1,962 62,213 1,756 1,230 1,756 1,230 9,000 1,824 9,000 5,446 Sale of Investments Sale of fixed assets Loans Received 86,017 86,017 Total Receipts 154,256 16,544 170,800 69,393 Payrnents Raising funds Charitable activities Investment costs Other Organisations 247 106,247 247 124,548 390 114,350 18,301 5,508 5,508 4,451 106,494 23,809 130,303 119,191 Purchase of Investment5 Purchase of fixed assets Loan Repayments Total Payments 106,494 23,809 130,303 119,191 Net recelpts / (payments) Transfers between funds 47,762 (4,6871 {7,265) 4,687 40,497 (49,798) Net movement in funds Funds brought forward 43,075 74,922 (2,578) 32,976 40,497 107,898 (49,798) 157,496 Funds carried forward 12 117,997 30,398 148,395 107,698
an WOODVALE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IREIAND STATEMENT OF ASSETS AND LIABILITIES As at 31 December 2023 Unre5trlcted Funds Restrlcted Funds Endowment Funds Total Funds 2023 Total Funds 2022 Funds Reconclllatlon Bank and Cash at start of year Net movement in funds 74,922 43,075 32,976 (2,578) 107,898 40,497 157,696 {49,798) Bank and Cash at end of year 117,997 30,398 148,395 107,898 Bank & Cash Balances Bank Deposit Accounts Bank Current Accounts Cash in Hand Bank Current A/Cs - Organisations Cash in Hand - Organisations 133,889 77 14,429 96,856 105 10,937 148,395 107,898 Other Assets Fixed Assets- Note 10 Church Premises Fixtures, Fittings & Equipment Vehicles Investments- Note 11 fjift Aid receivable on donations 6,386,887 5,924,596 82,552 6,386,887 6,007,898 Uabllltles Loans Other Approved by the Kirk Session at a meeting on 11 March 2024 and signed on its behalf by 11 March 2024 11 March 20
an WOODVALE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2023 ACCOUNTING POLICIES BASIS OF FINANCIAL STATEMENTS As the totsl 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 unrestritte(l 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 donoi 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 congregatlon's general purposes. Designated funds are general funds set aside by the congregation for use in the future. DONATIONS AND LEGACIES Unrestricted Funds Restricted Endowment Fund5 Funds Total 2023 Total 2022 Recorded giving Loose collections Donations and gifts GiftAid Legacies and bequest 46,805 821 3,496 12,169 6,487 53,292 821 3,496 13,226 51,846 1,027 7,250 1,057 2,000 63,291 7,544 70,835 62,123
an WOODVALE CONGREGATION OFTHE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2023 CHARITABLE AcfiviTIES Unrestrirted Funds Restrlcted Endowment Funds Funds Total 2023 Total 2022 Income from charitable actlvities Fees from weddin8s and funerals Fundraising events 1,962 1,962 1,962 1,962 4. OTHER TRADING ACTIVITIES Unrestrlcted Funds Restrlcted Endowment Funds Funds Total 2023 Total 2022 Letting of premises Trading income 5. INVESTMENT INCOME UnrestrTcted Funds Restricted Endowment Funds Funds Total 2023 Total 2022 Deposit interest General Investment Fund Rents investment properties Other investment income 1,756 1,756 1,824 1,756 1,756 1,824
an WOODVALE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IREIAND NOTES TO THE ACCOUNTS {conVd) 31 December 2023 OTHER INCOME Unrestrlrted Funds Restricted Endowment Funds Funds Total 2023 Total 2022 Insurance claims Other income 1,230 1,230 1,230 1,230 RAISING FUNDS Unrestrlrted Funds Restricted Endowment Funds Funds Total 2023 Total 2022 FWO envelopes Fundraising events 247 247 390 247 247 CHARITABLE ACTIVITIES Unrestrlrted Funds Restricted Endowment Funds Funds Total 2023 Total 2022 General Assembly Assessments Presbytery fees Ministry and support stsff costs Congre8ational running expenses Donations to missions & charities Governance costs 15,630 654 65,772 23,541 15,630 654 65,772 33,692 8,150 650 13,206 768 67,822 22,685 9,239 630 10,151 8,150 650 106,247 18,301 124,548 114,350
an WOODVALE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTE5 TO THE ACCOUNTS (cont'd) 31 December 2023 OTHER EXPENDITURE Unrestrlrted Funds Restrlrted Funds Endowment Funds Total 2023 Total 2022 Investment properties expenses 10. FIXED Assrrs The congregation owns the Church premises situated at 64A Woodvale Road, Belfast BT13 38T. The congregation owns the manse situated at 76 Woodvale Road BT13 3BU These have an insurance value (including fixtures and fittings) of £6,386,887 at the last renewal date. 11. INVESTMENTS The congregation has the followin8 investments. Amounts are shown at market valuation. 2023 2022 General Investment Fund Property Other investments 82,552 82,552
an WOODVALE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTESTO THE ACCOUNTS Iconvd) 31 December 2023 12. FUND BALANCES Fund Balance at Receipts Payments Surplus/ Transfer start (Deflclt) Balance at end Unrestricted Funds General Fund 74,922 154,2S6 106,494 47,762 (4,687) 117,997 74,922 154,256 106,494 47,762 (4,687) 117,997 Restrirted Funds Maintenance Fund United Appeal World Development Appeal Good News For Everyone pci Scripture Union Nl Samaritans Purse Tear Fund (Syria Appeal) Emergency Appea15 Galway Famlly Kerr T Organisations 15,767 3,936 2,708 340 10,151 6,695 195 100 200 100 300 560 (6,215) (3,987) 145 (100) (200) (100) (300) 9,552 3,987 45 190 100 200 100 300 560 I,ooo 2,913 2,314 10,937 I,ooo 2,913 2,314 14,429 9,000 5,508 3,492 TOTAL FUNDS 32,976 16,544 23,809 (7,265) 4,687 30,398 Endowrnent Funds TOTAL FUNDS 107,898 170,800 130,303 40,497 148,395 Valuatlon at 5tsrt Revaluatlo n Increase Valuatlon at end General Investment Fund 82,552 0 182,552)