CARNMONEY PRE5B[ER1AN CHURCH ststement of Financial Artivities For the year ended 31 December 2022 2022 2021 Notes Unrestrirted Re5trirted Totsl Total Incoming Resource5 Regular Giving Donation5 Activf(ies that Generate Incorne 208,358 7(Xl 8,385 4fv1 20,221 441,079 102.135 18,619 55 32.550 649.437 102.835 27.004 519 52.771 553.350 75,631 7,369 602 74,999 Investment Income Other Income Source5 Totsl Incoffling Resources 238,128 594,438 832,566 711,951 Resources Expended Central Church Assessments 18,162 113.295 18.162 232.201 21,127 252,945 Ministry and Support stsff Core Team and Organisation5 Expenditure Church Running Costs and Administration t)onations I18.16 35,180 178.191 213.371 176,806 67.555 31.989 99.544 63.482 3,730 2,696 5.435 156,165 9,165 158.861 3,165 161,108 Other Costs Total Resources Expended 240,618 4.686 731,304 678,633 Net Incorning Resources {2,4} 103,752 101,262 33,318 Transfèrs 213 3.570 (3,5701 Net Movements in Funds 1,080 I,182 101,262 33,318 Fund Balances Brought Forward 213 72,552 2,815,530 2.888.082 2,854,764 Fund Balances Carried Forward 213 73,632 2,915,712 2,989,344 2,888,082 All income derNes from continuing activities. thefOre no statement of recognised gains or losses is given. The notes on pages 18 to 25 form an integral part of these financial statements. 15
CARNMONEY PRESBYTERIAN CHURCH Balance Sheet as at 31 December 2022 Notes 2022 2021 Fixed Assets Property. Plant and Equipment 3.560.194 3.667.346 Current Assets Debtors and prepayments Cash at bank and in hand 42.480 487.120 529,600 34.032 463.396 497,428 Current Liabilities Bank Loan repayable within I year Other current liabilitie5 {148.2451 1105.427) (12,5551 141.081) Creditors: amounts falling due wlthin one year {160.8(K)1 1146,5081 Net Current Assets 368,800 350,920 Creditors: amount5 fallin8 due after more than one year 1939,650) (1,0,184) Net Assets 2,989.344 2,888,082 Funds Unrestricted Funds Restricted Funds 73,632 2,915,712 72.522 2,815,530 Total Funds 2.989.344 2.888,082 The financial statements were approved bythe Trustees and Congregational Committee and signed on its behalf by Date Date Date Patricia Scullin Treasurer Paul Elliott Clerk of Session Len Johnston Congregatianal Secretary The notes on pages 18 to 25 form an integral part of these financial statements. 16
CARNMONEY pREsBERIAN CHURCH Statement of Cash Flows For the year ended 31 December 2022 Notes 2022 2021 Net Income/lExpenditure) Adjustments to reconcile net income/(expenditureJ to net coshfvws from operoting ortivities Depreciation of tangible fed assets Net finance costs Ilncreasel/Decrease in debtors Increase/(decrease) in creditors Net cash inflow from operatin8 activities 101.262 33.318 114,486 43,421 (8,4461 128,5271 222.196 112,652 42.691 12,710) 36,599 222,550 Investing activities Interest received Payments to acquire tangible fixed assets Net cash inflow from investing acti¥itle5 521 {7.3351 (6.8141 602 14,3741 13,7721 Financing activities Interest paid Repayment of long tem) loans Net cash inflow/(ouffiow) from financing activities (44,0841 143,303) (147.5741 1104,3411 {191,6581 {147,6441 Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at l January Cash and cash equivalents at 31 December 23.724 71,134 463,396 392.262 487.120 463.3% The notes on pages 18 to 25 form an integral part of these financial statements 17
CARNMONEY PRESBYTERIAN CHURCH Notes to the Financial Statements For the year ended 31 December 2022 Accounting Pollcles Bosis of Prepamtion The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows- a) Basis of Preparation The financial statements have been prepared in accordan with Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Rep)rting Standard applicable in the UK and Republic of Ireland (FRS 1021 {effective l January 20191. Carnmoney Presbyterian Church rneets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless othenNise stated in the relevant accounting policy notes. The financial statements indude all transactions. a55ets and liabilities for which the congregation is responsible in law. b) Preparation of the accounts on a 8oin8 concem basis Cammoney Presbyterian Church has prepad the accounts on a going conrn bas. The balance sheet IS Strong with strong continued sUPPOrt by the member5. cl Income Incorne is recogni5ed when the charity has entitlementtothefunds. conditions attached tothe ttemlsl of income have been met, it is probable that the income will be received and the amount can be measured reliably. Income from government and other grants. whether 'capital' grants or'revenue, grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income from tax reclaims (Gift Aidl is recognised at the same time as the gift to which they relate. d) Donated 5eThices and facilities In accordance with the CharitiesSORP IFRS 102),thegeneral volunteertime ofthe Chariwsvolunteers is not recognised financialty in the Statement of Financial Artr¥ities but their valuable contribution is acknowledged in the Trustees. Report. e) Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliabty by the charity: this is nonnally upon notifKation of the interest paid or payable by the Bank. 18
CARNMONEY pRE5BERIAN CHURCH Notes to the Financial Statements For the year ended 31 December 2022 (continued) l. kcounting Policies (continued) Fund Accounting Unrestricted funds are available for use at the discretion of the Congregational Cornmittee in furtherance of the objectives ofthe charity- Designated funds comprise urbrestricted funds that have been set aside by the Con8re8ational Committee for particular purposes. General funds may be transferred to designated funds where the Congregational Committee wish to use these funds for a specffic purpose. Such funds may be transferred backto general funds once the criteria forthe designation have been met or are no longer applicable. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of the appeal. Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party. it is probablethatsettlementwill be required arndthe amount of theobligation can be measured reliably. Expenditure is classrfied under the following activity headings: Expenditure on charitable activities includes the costs of central church assessments. ministry and support staff, core team and organisations expenditure. church running costs and administratron. donations and other support services to further the purposes of the charity and their associated 5UPPOrt COStS. Otherexpenditure represents those items not falling into any other headin8. The church is not registered for VAT purposes, therefore irrecoverable VAT is charged to the statement of Financial Activities, or capitalised as part of the cost of the related asset, where appropriate. h) Allocatlon of support costs Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back Offi costs, finance, human resources, payroll and governance costs which support the char5 actwities. These costs have been allocated against the expenditure on charitable activities. Operating leases Leases where substantially all risks and rewards incidental to ownership are retained by the lessors are classified as operating leases. Payments made under operating leases are recognised in profit or loss on a straight-line basis over the period of the lease. 19
CARNMONEY PRESBYTERIAN CHURCH Notes to the Financial Statements For the year ended 31 December 2022 (continued) l. Accounting Pollcies (continued) J) Tangible Fixed Assets Items of property, plant and equipment are capitalised rfthey can be usedfor morethan one year and cost at least £2.000. They are stated at cost less accumulated depreciation and impairment losses, if any. The depreciable amount is the cost of an asset less its residual value. Depreoation is charged to profit or loss on a straight-line basis so a5 to write off the depreciable amount of property, plant and equipment over their estimated uselul INes, as follows: Freehold Land Propertv Fixtures, fittings & furnishings Motor Vehicles Computerand AV equipment Not depreciated 50 years 10 yea 5 years 4 years The residual value and useful lrfe of property, plant and equipment a reviewed at each Balance Sheet date and updated for any changes. k) Debtors Trade and other debtors are reco8nised at the settlement amount due after any trade discount offered. ppaymentS are valued at the amount prepaid net of any trade discounts due. l) Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or le55 from the date of acquisition or opening of the deposit or similar account. m) Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably resuFt in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount afterallowinE for any trade discounts due. n) Critical accounting estimates and judgements In the application of the Charity's accounting policies. the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sOUrs. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revision5 to accounting estimates are recognised in the period in which the estimate is revised where the revisron affects only that period. or in the period of the revision and future periods where the revision affects both current and fLrture periods. 20
CARNMONEY PREssERlAN CHURCH Notes to the Financial Statements For the year ended 31 December 2022 (continued) Unrestricted Funds- Movements in Year Opening Balance Income Expenditure Transfers Closing Balance 2022 General Fund 72.552 238.128 (240,6181 3.S70 73,632 2021 General Fund 50.856 235,992 1216,096) 1,800 72,552 Restricted Funds - Movements in Year Opening Balance Income Expenditure Transfers Closing Balance 2022 Buildings & Maintenance Youth Development United Appeal & Mission Christian Training Christians Against Poverty Foodbank Manna Centr31 Organisations 2.577,790 12,209 15.507 1,678 16.440 65,132 4,817 81,141 40,816 277,672 9,057 30.797 1253,4351 {3,629} (32.2901 2,602,027 17,637 14.014 1.678 1.869 83,595 7.142 143,671 44.079 17.024 51.043 8.784 145,343 54.718 131.5951 132.580) (6,4591 {82,813) {47.885) 13.5701 Total Restricted Funds 2,815,530 594,438 (490,686) 13,5701 2,915,712 Opening Balance Income Expenditure Transfers Closing Balance Z021 Buildings & Maintenance Youth Development United Appeal & Mission Christian Training Christians Against Poverty Foodbank Manna Central oaniSatIonS Total Restricted Funds 2.574,667 9,931 27.672 1,678 18,036 47,908 3.941 78.511 41.564 2.803.908 273,547 16,573 21,171 1270,424) (14,295} (33,3361 2,577,790 12,209 15,507 1,678 16,440 65,132 4,817 81.141 40,816 2.815,530 29.318 41,266 5,820 71.475 16,789 475.959 (30.9141 124,0421 14,944) 168.8451 115,7371 {462.537) (1.8001 {1.800) 21
CARNMONEY PRES8ERlAN CHURCH Notes to the Financial Statements For the year ended 31 December 2022 (continued) Restricted Funds - Movements In Year (continued) The following 15 a list of the re5trirted funds in use together with a description of their use- Building and Maintenance is used to fund capital projects and the on-going maintenance and development of the properties owned and used by the congregation in its mi55i0n. Youth Development funds the staffing costs associated with congregational youth work and the development and expansion of that wor United Appeal and Mission is used to meet our commitments to PCI United Appeal and non- congregational mission at home and overseas. Christians Against Povertyfunds the work of the CAP Centre including staff salaries and other costs and is used to develop other CAP initiatives. for exarnple. CAP Job Club. Christian Training Fund is used support people who are undertaking Christian training. Manna Fund records takingsfrom the Manna shopand associated costs with runningthe shop and donations made forother community or missionary purposes. Central BelFast funds the staffing and associated costs with our church plant in Belfast city centre. Fooodbank records the donations made towards the work of the Foodbank and funds the staffing cost. general expenses and the supply of food items when required. 4. Creditors: amounts fallin8 due after more than one year This relates to loans that have been taken out to fijnd the buildin8 of the new church centre. These loans are repayable in more than five years. 22
CARNMONEY PRES8YtERIAN CHURCH Notes to the Financial Statements For the year ended 31 December 20221continued) Property. Plant and Equipment Fixtures. Fittings Property Computer and AV equipment Motor Vehicles Total Furniture 2022 Cost Opening cost Additions Disposals aosing cost 4.806.927 39.463 103,277 7,335 32,1XK) 4.981.667 7.335 132.IJXI} I32,0) 4,957,002 4,806.927 39,463 110,612 Depreciation Opening Depreciation Charge for the year Disposals ClosinE Depreciation 1,167.909 96.139 28.110 3.140 86,302 15,208 32,(M)0 1,314,321 114,487 I32.0} {32.01 1,396.808 1.264.048 31.250 101.510 Net book value at 31112122 3,542,879 8,213 9,102 3,560,194 2021 Cost Opening cost Additions Disposals Closing cost 4.806.927 39.463 98,903 4,374 32,ocLI 4,977,293 4.374 4.806.927 39.463 103.277 32,OIXI 4.981.667 Depreciatlon Opening Depreciation Charge for the year Disposals a05ing Depreciation 1,071,771 96.138 24,970 3,140 72,928 13.374 32,OCMJ 1,201,669 112.652 1.167,909 28,110 86,302 32,IYJO 1,314,321 Net book value at 31112121 3.639.018 11.353 16,975 3,667,346
CARNMONEY PRESBYtERIAN CHURCH Notes to the Financial Statements For the year ended 31 December 2022 (continued) 6. Contingent Asset Carnmoney Presbyterian Church had an investment in the Presbyterian Mutual Society which has not been recognised in these accounts as the administrator has now confirmed that this money will not be released. 7. Cash and Cash Equlvalents Cash and cash equivalents comprise the followin8: 2022 2021 Cash at bank and in hand 487,120 463,396 Employees Employment costs: 2022 2021 Wages and Salaries Intern contributions Employer Social Security & Pension Cost5 I,211 223.784 5,OiXJ 18,0 I4174 23,970 220.181 Number of employees: The number of staff employed by the church as at 31 December 2022 was 1012021: 111. In addition in 2022 there was l intern 12021: 1). Staff salaries are in line with the salary scales maintained by the Presbyterian Church in Ireland (PCI). No ernployee received Temuneration of more than £60,[ during the year {2021- Nil). 24
CARNMONEY pREsBERlAN CHURCH Notes to the Financial Statements For the year ended 31 December 2022 (continued) Penslon costs The minister of the con8re8ation is a member of the Presbyterian Church in Ireland Pension Scheme 12(K191. This is a scheme operated by the Presbyterian Church in Ireland, a separate registered charity. The congregation pays an assessment to the Presbyterian Church in Ireland equivalent to the employerfs pension contribution for the Scheme and based on the stipend paid to the minister. The Presbyterian Church in Ireland Pensh)n Scheme {21))91 is a funded Scheme of the defined benefft type, providin8 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 funding plan to ensure the Scheme is sufficiently funded to meet current and future obligations. A forrnal 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 coverthe accrual of benefftsforfuture service. expense5. the cost of insuring death in Servi benefrts and funding the scheme deficit. The contributions made bythe congregation duringthe yearwere 2022 2021 Contributions 3.812 All other staff employed by the congregation are automatically enrolled in the National Employment Savings Trust INEST}. This Scheme and its assets are held by an independent scheme manager. The contributions made by the congregation to this scheme were 2022 2021 Contributions 3,958 3.083 10. Related Party TranrtIOnS The minister is a Trustee and was paid through PCI with expenses being paid by the church. The Discipleship Associate. the Central Associate, the Mission and Compassion Associate and the Foodbankworker are Trustees and were paid bythe church a5 employees forall of 2022. One Trustee who resigned was involved in youth work outside the church and reiVed support of £1,000 during 202212021: £2.0001. No charity Trustee. other than the staff Mentioned above, received payment for professional or other servi5 supplied to the charity- Duringtheyearthecongregation contributed the followingamounts to Fundsof theGeneral Assembly of the Presbyterian Church in Ireland. a separate charity. £18,162 for congregational assessments £23,107 toward the United Appeal £1.177 toward the Worfd Development Appeal The congregation ¢1Ved £14,250funding during 2022 from the North Belfast Presbytery forthe CAP centre. 25