CARNMONEY PRESBITERIAN CHURCH
Statement of Financial Activities
For the year ended 31 December 2023
(incorporating an income and expenditure account)
Z023
2022
Unrestrlrted Restrlrted
Total
Total
Incoming Resources
Regular Giving
Donations
250,109
30
11.777
471.CM)7
130.182
27.061
280
51,834
721,116
130,212
38,838
680
71,213
649,437
102,835
27,004
519
52,771
Attivities that Generate Income
Investment Income
Other Income Sources
19,379
Total Incoming Resources
281,695
680,364
962.059
832,566
Resources Expended
Central Church Assessments
30,145
30,145
18,162
Mlnistry and Support Staff
Core Team and Organisations
Expenditure
Church Running Costs and
Administration
173.652
131.657
305.309
232,201
26,744
182.658
209,402
213,371
61,888
96.736
99,544
Donations
51X)
774
12.265
154,747
12,765
155.521
9,165
158.861
Other Costs
Totsl Resources Expended
293,703
516,175
809,878
731.304
Net Incoming Resources
(12,008)
164,189
152.181
101.262
Transfers
3,950
13,950}
Net Movements in Funds
(8,OS8)
160.239
152,181
101,262
Fund Balan￿$ Brought Forntard
213
73.632
2.915.712 2.989,344
2,888,082
Fund Balances Carried Fon¥ard
213
65,574
3,075,951 3.141.S2S
2.989,344
All income derives from continuing activities, therefore no statement of recognised gains orlosses is
given.
The notes on pages 18 to 25 forrn an integral part of these financial statemerrts.
15

CARNMONEV PRESBITERIAN CHURCH
Balance Sheet
as at 31 December 2023
Notes
2023
2022
Fixed Assets
Property. Plant and Equipment
3.485.892
3.560.194
Current Assets
Debtors and prepayments
Cash at bank and in hand
33,918
579,249
613,167
42,480
487.120
529,6¢JO
Current Liabilities
Bank Loan repwiable within l year
(144,038)
{148,245)
Other current liabilities
112.248)
{12,555)
Creditors: amounts falling due wlthin one year
(156,286)
(160,800)
Net Current Assets
456,881
368,8LJJ
Creditors: amounts falling due after more than one
year
(801.248)
(939,650)
Net A$5ets
3.141.525
2.989.344
Funds
Unrestricted Funds
Restricted Funds
65,574
3,075,951
73,632
2,915,712
Total Fund5
3,141.525
2.989,344
The financial statements were approved by the Trustees and Congre8ational Committee and signed
on its behalf by
Date
Date
Date
Patricia Scullin
Treasurer
pa￿ Elliott
aerk of Session
Len Johnston
Congregational Secretary
The notes on pa8es 18 to 25 form an integral part of these financial statements.
16

CARNMONEY PRESBITERIAN CHURCH
Statement of Cash Flows
For the year ended 31 December 2023
Notes
2023
2022
Net Income/(Expenditure)
152,181
101,262
Adjustments to reconcile net intome/(expenditure) to
net cashflowsfrom operating artivities
Depreciation of tangible r￿ed assets
Net finance costs
(Increase)/Decrease in debtors
Increase/ldecrease) in creditors
Net cash inflow from operating artiinties
105,009
48.817
8.561
{307)
314,261
114,486
43.421
{8,4461
{28.5271
222,196
Investin8 actlvities
Interest received
Payments to acquire tangible fixed assets
Net cash inflow from investing activitses
680
130.707)
130.027)
521
{7.3351
(6,8141
Financing activities
Interest paid
Repayment of long terni loans
(48,8971
{143.2081
(44,084)
1147.574)
Net cash inflowl(oufflowl fr<¥m finanan8 activitses
(192.1051
1191.6581
Net increaselldecrease) in cash and cash equiwdlents
92,129
23,724
Cash and cash equivalents at l January
Cash and cash equivalents at 31 December
487.120
579.249
463,396
487.120
The notes on pages 18 to 25 form an integral part of these finanoal statements
17

CARNMONEY PRESBITERIAN CHURCH
Notes to the Financial Statements
For the year ended 31 December 2023
Accounting Policies
Bosis of Preparotion
The principal accounting policies adopted, judgements and key sources of estimation Un￿rtaInty in
the preparation of the financial statements are as follows-
a) Basis of Preparatitin
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
accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS
1021 leffertive l January 2019).
Carnmoney Presbyterian Church meets the definition of a public benefit entity under FRS 102. Assets
and liabilities are initially recognised at historical cost or transaction value unless othe￿iSe stated in
the relevant accounting policy notes. The financial statements include all transactions, assets and
liabilities for which the congregation is responsible in law.
b) Preparation of the accounts on a 80in8 concern basls
Carnmoney Presbyterian Church has prepared the accounts on a going con￿r￿ basis. The balance
sheet is strong with strong continued support by the members.
c) Income
Incorne is recognised whenthe charity has entitlementtothefijnds, conditions attached tothe itemls)
of income have been met, it is probable that the income will be received and the amount can be
measured reliably. Income from governmerrt and other grants, whether 'capital' grarrts 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 recetved and the amount
can be measured reliably and is not deferred. Income from tax reclaims (Gift Aid) is recognised at the
same time as the gift to which they relate.
d) Donated servkes and facillties
In accordance withtheCharities50RP IFRS 1021.thegeneral volunteertime ofthe Charitysvolunteers
is not recognised financially in the Statement of Financial Artivities 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
reliably bythe charity; this is normally upon notifitation of the interest paid or payable by the Bank.
18

CARNMONEY PRESBITERIAN CHURCH
Notes to the Financial Statement5
For the year ended 31 December 2023 (continued)
L Accountlng Policies Icontinued)
Fund Accounting
Unrestricted funds are available for use at the discretion of the congr￿atiOnal Cornmtiee in
furtherance of the objectives of the tharity.
Designated funds comprise unrestricted funds that have been set aside by the Congregational
Committee for particular purposes.
General funds may be transferred to designated funds where the Congregational Commtttee wish to
use these funds for a specrfic purpose. Such funds may be transferred back to general funds once the
criteria for the 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.
81 Expenditure and irrecoverable VAT
Expenditure is recognised once the￿ is a legal or constructive obligation to make a payment to a third
party, it is probable that settlement will be required, and the amount of the obligation can be
measured reliably.
Expenditure is classrfied under the following activrty headings:
Expenditure on charitable artivities includes the costs of central church assessments. ministry
and support staff, core team and organisations expenditure. church running costs and
administration. donations and other support seNices to further the purposes of the charity
and their associated 5UPPOrt costs.
Other expenditure represents those items not falling into any other heading.
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.
hl Allocation of support costs
Support costs are those functions that assist the work of the charity but do not dirertly undertake
charitable activities. Support costs include back-office costs. finance, human resources. payroll and
governance costs which support the CharIt￿S activities. 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 cla55ified as operating leases. Payments made under operating leases are recognised in profit or
loss on a straight-line basis overthe period of the lease.
19

CARNMONEY PRESBYTERIAN CHURCH
Notes to the Financial Statements
For the year ended 31 December 2023 (continued)
Accounting Policles Icontlnued)
Tangible Fixed Assets
Items of property, plant and equipment are capitalised if they can be used formorethan 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. Depreciation is charged to
profit or loss on a straight-line basis so as to write off the depreciable amount of property, plant and
equipment over their estimated useful lives, as follows:
Freehold Land
Property
Fixtures, f￿ingS & ￿rnIShingS
Motorvehicles
Computer and AV equiprnent
Not depreciated
50 years
10 year5
5 years
4yea
The residual value and useful lifeof property, plantand equipment are reviewed ateach Balancesheet
date and updated for any changes.
k) Debtors
Trade and other debtofs are recognlsed at the settlement amount due after any trade discount
offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short
maturty of three months or less from the date of acquisition or opening of the deposit or similar
account.
m) Creditors and provisions
Creditors and provisions are recognised where the chartty has a present obligation resulting from a
past event that will probably result in the transfer of funds to a third party and the amount due to
settle the obligation can be measured or estimated reliably. Creditor5 and provisions are normally
recognised at their settlement amount after allowing for anytrade discounts due.
n) Critical a¢countlng estimates and judgements
In the application of the Charitrfs accounting policies, the Trustees are required to makejudgements,
estirnates and assumptions about the carrying amount of assets and liabilities that are not readily
apparent from other sources. The estimates and associated a55UrnPtions 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 assumptTons are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only
that period, or in the period of the revision and future periods wherethe revision affects both current
and future periods.
20

CARNMONEY PREs8￿ERlAN CHURCH
Notes to the Financial Statements
For the year ended 31 December 2023 (continued)
Unrestrirted Funds- Movements In Year
Opening
Balance
Income Expenditure
Transfers
Closing
Balance
2023
General Fund
73,632
281,695
(293,7031
3,950
65,574
2022
General Fund
72,552
238,128
1240,618)
3,570
73,632
Restricted Funds- Movements In Year
Opening
Balance
Closing
Balance
Income
Expenditure
Transfers
2023
Building & Maintenance
Youth Development
United Appeal & Mission
Christian Training
Christians Against Poverty
Foodbank
Manna
Central
Organisations
Total Restricted Funds
2.602.027
17,637
14.014
1.678
1,869
83.595
7.142
143.671
44,079
1915.712
281.409
17,683
27.120
351
46,185
69.517
9,218
162,069
66,812
680.364
(241.4811
110.261)
132,043)
2,641,955
25.059
9,091
2,029
31,6CK)
105.202
6,574
206.447
47,994
3,075,951
{16,454)
{47.910}
(9,7861
(99.2931
(58,9471
(516.175)
(3,9501
13,950)
Opening
Balance
aosin8
Balance
Income
Expenditure
Transfers
2022
Building & Maintenan
Youth Development
United Appeal & Mission
Christian Training
Christians Against Poverty
Foodbank
Manna
Central
Organisations
Total Restrirted Funds
2,577.790
12.209
15,507
1.678
16.440
65.132
4,817
81.141
40,816
2,815,530
277.672
9.057
30,797
(253,435)
13,6291
132.290)
2,602,027
17,637
14,014
1,678
1,869
83,595
7,142
143,671
44.079
2.915,712
17,024
51.043
8,784
145.343
54,718
594,438
131,595)
(32.5801
{6,4591
(82.8131
(47,8851
(490.6861
13.5701
{3.5701
21

CARNMONEY PRESBYtERIAN CHURCH
Note5 to the Financial Statements
For the year ended 31 December 2023 (continued)
Restricted Funds- Movements In Year {contlnued)
The following is a list of the restricted funds in use tivaether 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 mission.
Youth Development fvnds the staffing costs associated with congregational youth work and
the development and expansion of that work
United Appeal and MIs5ion is used to rneet 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 example. CAP Job Club.
Christian Training Fund is used support people who are undertaking Christian training.
Manna Fund recordstakinES from the Manna shopand associated costs with wnnlngthe shop
and donations made for other community or missionary purposes.
Central Belfast funds the staffing and associated costs wlth our church plant in Belfast cty
centre.
Fooodbank ￿COrdS the donations made towards the work of the Foodbank and fund5 the
staffing cost, general expenses and the supply of food items when required.
4. Creditors: amounts falling due after more than one year
This relates to loans that have been taken out to fund the building of the new church centre. These
loans are repayable in more than fNe years.
22

CARNMONEY PRESBYfERIAN CHURCH
Notes to the Financial Statements
For the year ended 31 December 2023 (continued)
Property, Plant and Equipment
Fixtures,
Fittings
Property
Computer
&AV
equipment
Motor
Vehicles
Total
Furniture
2023
Cost
Opening cost
Additions
Disposals
aosing Cost
4,806,927
39,463
26.946
110,612
3.761
4,957,lJ)2
30,707
4,806,927
66.409
114,372
4,987,708
Depreciation
Opening Depreciation
Charge forthe year
Disposals
aosing Depreciation
1,264,047
96,139
31,250
4.871
101,510
3,999
1,396,807
105,009
1.360.186
36.121
105.509
1.501,816
Net book value at 31112123
3.446,741
30288
8,864
3,485,892
2022
Cost
Opening cost
Additions
Disposals
aosing cost
4,806,927
39.463
103.277
7,335
32,(KM) 4,981,667
7,335
(32.OIX)) 132.000)
4.957,002
4.806,927
39,463
110.612
Depreciation
Opening Depreciation
Charge for the year
Disposals
Closln8 Depreclatlon
1.167,909
96.139
28,110
3.140
86,302
15.208
32,000 1,314,321
114,487
132,OiXII
1,396,808
132.OCI)I
1,264.048
31.250
101.510
Net book value at 3V12122
3,542,879
8,213
9,102
3.560.194

CARNMONEY PRESBWtERIAN CHURCH
Notes to the Financial Statements
For the year ended 31 December 2023 (continued)
6. Contingent Asset
Carnrnoney p￿SbYterlan Church had an investment in the Presbyterian Mutual Societywhich has not
been recognised in these accounts as the administrator has now confimied that this money will not
be released.
7. Cash and Cash Equivalents
Cash and cash equivalents comprise the following-
Z023
2022
Cash at bank and in hand
579,249
487,120
8. Employees
Employment costs:
2023
2022
Wages and Salaries
Intern contributions
Employer Social Security & Pension Costs
219,438
190.211
6,000
23,970
220,181
19,256
Z40.694
Number of employees:
The number of staff employed by the church as at 31 December 2023 was 12 {2022: 10). In addition,
in 2023 there was l apprentice {2022: 01.
Staff salaries are in line with the salary scales maintained by the Presbyterian Church in Ireland (PCI).
No employee received remuneration of more than £60,(KM] durinE the year {2022: Nill.
24

CARNMONEY PRESBYtERIAN CHURCH
Notes to the Financial Statements
For the year ended 31 December 2023 (continued)
9. Pension costs
The minister of the 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 Presbyterian Church in Ireland equivalent to the
ernployerfs pension contribution for the Scheme and based on the stipend paid to the minister. The
Presbyterian Church in Ireland Pension Stheme {2(K19) is a funded Scheme of the defined benefft type,
providing 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 formal 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 salarie5 to coverthe accrual of benefts forfuture service, expenses, the cost of insuring
death in sen41￿ benefits and funding the scheme deficit.
The contributions made by the congregation during the year were
2023
2022
Contributions
2,672
3,812
All other staff employed bythe congregation are automatically enrolled in the National Employment
Savings Trust {NESTI. This scheme and its assets are held by an independent scheme manager. The
contributions made by the congregation to this scheme were
2023
2022
Contributions
3,563
3,958
10. Related Party Transartions
The minister is a Trustee and was paid through pa with expenses being paid by the church. The
Discipleship Associate, the Central Associate. and the Foodbank Worker are Trustee5 and were paid
bythe church as employeesfor all of 2023. No charityTrustee, otherthan thestaff mentioned above,
received payment for professional or other services supplied to the charity.
Duringtheyearthe congregation contributedthefollowingamountsto Funds of the GeneralAssembly
of the Presbyterian Church in Ireland, a separate charity.
£30.145 for congregational assessments
£23.923 toward the United Appeal
£971 toward the World Development Appeal
The congregation receNed £30,0￿ funding durin8 2023 from the North Belfast Presbytery for the CAP
centre.
25