McQUISTON MEMORIAL CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
Trustees Annual Report and Financial Statements for the year ended 31 December 2023
Registered Charity in Northern Ireland (NIC104506)
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McQUISTON MEMORIAL CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the year ended 31 December 2023
| Note | Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|---|
| Funds | Funds | Funds | 2023 | 2022 | ||
| £ | £ | £ | £ | £ | ||
| Receipts | ||||||
| Regular Direct Giving | 1 | 78,589 | 18,079 | 0 | 96,668 | 99,970 |
| Donations and legacies | 2 | 2,611 | 4,685 | 0 | 7,296 | 9,349 |
| Activities that Generate | 3 | 3,355 | 0 | 0 | 3,355 | 5,487 |
| Income | ||||||
| Investment Income | 4 | 5,182 | 0 | 0 | 5,182 | 4,096 |
| Other Income Sources | 5 | 14,627 | 267 | 0 | 14,894 | 10,390 |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Total Receipts | 104,364 | 23,031 | 0 | 127,395 | 129,292 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Payments | ||||||
| Central Church | 6 | (10,316) | 0 | 0 | (10,316) | (11,001) |
| Assessments | ||||||
| Presbytery Fees | 7 | (798) | 0 | 0 | (798) | (809) |
| Ministry and Support Staff | 8 | (38,761) | 0 | 0 | (38,761) | (66,850) |
| Raising Funds | 9 | (722) | 0 | 0 | (722) | (765) |
| Life and Work | 10 | (9,358) | (900) | 0 | (10,258) | (12,132) |
| Governance | 11 | 0 | 0 | 0 | 0 | 0 |
| Property and Equipment | 12 | (29,685) | (40,206) | 0 | (69,891) | (39,590) |
| Grants to Missions and | 13 | 0 | (13,078) | 0 | (13,078) | (11,131) |
| Charities | ||||||
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Total Payments | (89,640) | (54,184) | 0 | (143,824) | (142,278) | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Net receipts / (payments) | 14,724 | (31,153) | 0 | (16,429) | (12,986) | |
| Transfers between funds | (1,849) | 1,849 | 0 | 0 | 0 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Net movement in funds | 12,875 | (29,304) | 0 | (16,429) | (12,986) | |
| Funds brought forward | 37,473 | 80,860 | 0 | 118,333 | 131,319 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Funds carried forward | 14 | 50,348 | 51,556 | 0 | 101,904 | 118,333 |
| ====== | ====== | ====== | ====== | ====== |
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McQUISTON MEMORIAL CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
STATEMENT OF ASSETS AND LIABILITIES As at 31 December 2023
| As at 31 December 2023 | |||||
|---|---|---|---|---|---|
| Unrestricted | Restricted |
Endowment | Total Funds | Total Funds | |
| Funds | Funds |
Funds | 2023 | 2022 | |
| £ | £ |
£ | £ | £ | |
| Funds Reconciliation | |||||
| Bank and Cash at start of year | 37,473 | 80,860 |
0 | 118,333 | 131,319 |
| Net movement in funds | 12,875 | (29,304) |
0 | (16,429) | (12,986) |
| ---------- | ---------- |
---------- | ---------- | ---------- | |
| Bank and Cash at end of year | 50,348 | 51,556 |
0 | 101,904 | 118,333 |
| ---------- | ---------- |
---------- | ---------- | ---------- | |
| Bank & Cash Balances | |||||
| Bank Deposit Accounts | 101,904 | 118,333 | |||
| Bank Current Accounts | 0 | 0 | |||
| (including Cash in Transit) | |||||
| ----------- | ----------- | ||||
| 101,904 | 118,333 | ||||
| ----------- | ----------- | ||||
| Other Assets | |||||
| Fixed Assets–Note 15 | |||||
| - Church Premises including Hall | 6,626,449 | 6,164,139 | |||
| Buildings and Contents | |||||
| - Church Manse | 433,593 | 403,342 | |||
| Investments–Note 16 | 189,975 | 174,209 | |||
| Church Organisation's Funds - | 60,785 | 57,615 | |||
| Note 17 | |||||
| 20,395 | 21,004 | ||||
| Gift Aid Receivable | |||||
| ------------- | ------------- | ||||
| 7,331,197 | 6,820,309 | ||||
| ------------- | ------------- | ||||
| Liabilities -Note 18 | 0 | 0 | |||
| ------------- | ------------- | ||||
| Total net assets | 7,331,197 | 6,820,309 | |||
| ======== | ======== | ||||
| Approved by the Kirk Session at a meeting on and signed on its behalf by | |||||
| Ken Galbraith | Philip Boyd | ||||
| 22/10/2024 | 22/10/2024 |
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McQUISTON MEMORIAL CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS
31 December 2023
ACCOUNTING POLICIES
BASIS OF FINANCIAL STATEMENTS
As the total income of the congregation is less than £250,000 the Trustees 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.
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McQUISTON MEMORIAL CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd).
31 December 2023
1. REGULAR DIRECT GIVING
| Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| Recorded giving (FWO) | 63,629 | 0 | 0 | 63,629 | 64,337 |
| Loose Collections | 740 | 0 | 0 | 740 | 74 |
| Gift Aid Received | 14,220 | 0 | 0 | 14,220 | 15,371 |
| United Appeal | 0 | 6,788 | 0 | 6,788 | 6,827 |
| Gift Aid Received on United | 0 | 1,723 | 0 | 1,723 | 1,691 |
| Appeal | |||||
| Building Fund | 0 | 6,557 | 0 | 6,557 | 8,339 |
| Gift Aid Received on Building | 0 | 3,011 | 0 | 3,011 | 3,331 |
| Fund | |||||
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 78,589 | 18,079 | 0 | 96,668 | 99,970 | |
| ======= | ======= | ======= | ======= | ======= | |
| 2. DONATIONS AND LEGACIES |
|||||
| Unrestricted | Restricted | Endowment | Total | Total | |
| Funds | Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| Gift Days, Special Collections and | 280 | 3,081 | 0 | 3,361 | 6,432 |
| Donations | |||||
| Gift Aid Received on Occasional | 0 | 1,604 | 0 | 1,604 | 308 |
| Gifts | |||||
| Gifts in Kind | 0 | 0 | 0 | 0 | 0 |
| Legacies and Bequests | 0 | 0 | 0 | 0 | 0 |
| Received for Congregational | 0 | 0 | 0 | 0 | 256 |
| Organisations | |||||
| Donations from Congregational | 0 | 0 | 0 | 0 | 0 |
| Organisations | |||||
| Harvest | 1,935 | 0 | 0 | 1,935 | 1,970 |
| Gift Aid Received on Harvest | 396 | 0 | 0 | 396 | 383 |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 2,611 | 4,685 | 0 | 7,296 | 9,349 | |
| ======= | ======= | ======= | ======= | ======= |
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McQUISTON MEMORIAL CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d)
31 December 2023
3. ACTIVITIES THAT GENERATE INCOME
| Unrestricted | Restricted | Endowment | Endowment | Total | Total | ||
|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | 2023 | 2022 | |||
| £ £ |
£ | £ | £ | £ | £ |
£ £ |
|
| Income from Church Events | 0 | 0 | 0 | 0 | 0 | ||
| Sale or Rental of Books etc | 185 | 0 | 0 | 185 | 352 | ||
| Weddings, Funerals etc | 0 | 0 | 0 | 0 | 0 | ||
| Music at McQuiston | 0 | 0 | 0 | 0 | 0 | ||
| Hall Hire | 3,170 | 0 | 0 | 3,170 | 5,135 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | |||
| 3,355 | 0 | 0 | 3,355 | 5,487 | |||
| ======= | ======= | ======= | ======= | ======= |
4. INVESTMENT INCOME
| Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| Bank Interest | 1,476 | 0 | 0 | 1,476 | 247 |
| General Investment Fund | 3,706 | 0 | 0 | 3,706 | 3,849 |
| Other Investment Income | 0 | 0 | 0 | 0 | 0 |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 5,182 | 0 | 0 | 5,182 | 4,096 | |
| ======= | ======= | ======= | ======= | ======= |
5. OTHER INCOME SOURCES
| Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | |||
| Grants Received | 600 | 0 | 0 | 600 | 0 |
| Rental Income | 14,027 | 0 | 0 | 14,027 | 10,190 |
| Miscellaneous Income | 0 | 217 | 0 | 217 | 200 |
| Gift Aid Received on | 0 | 50 | 0 | 50 | 0 |
| Miscellaneous Income | |||||
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 14,627 | 267 | 0 | 14,894 | 10,390 | |
| ======= | ======= | ======= | ======= | ======= |
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McQUISTON MEMORIAL CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d) 31 December 2023
6. CENTRAL CHURCH ASSESSMENTS
| Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| Central Ministry Fund | (3,280) | 0 | 0 | (3,280) | (3,588) |
| Widows of Ministers' Fund | (671) | 0 | 0 | (671) | (747) |
| Prolonged Disability Fund | (671) | 0 | 0 | (671) | (597) |
| Incidental Fund | (2,683) | 0 | 0 | (2,683) | (2,766) |
| Ministerial Development Fund | (298) | 0 | 0 | (298) | (343) |
| Assembly Buildings' External | (1,491) | 0 | 0 | (1,491) | (1,495) |
| Work | |||||
| Sick Supply Fund | (30) | 0 | 0 | (30) | (45) |
| Students' Bursary Fund | (1,192) | 0 | 0 | (1,192) | (1,420) |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| (10,316) | 0 | 0 | (10,316) | (11,001) | |
| ======= | ======= | ======= | ======= | ======= |
7. PRESBYTERY FEES
| Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| East Belfast Presbytery Fees | (798) | 0 | 0 | (798) | (809) |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| (798) | 0 | 0 | (798) | (809) | |
| ======= | ======= | ======= | ======= | ======= |
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McQUISTON MEMORIAL CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d)
31 December 2023
8. MINISTRY AND SUPPORT STAFF
| Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| Minister's Stipend | (10,453) | 0 | 0 | (10,453) | (22,586) |
| Minister's Allowance / Expenses | (1,973) | 0 | 0 | (1,973) | (4,470) |
| ER NIC on Minister's Allowance | (272) | 0 | 0 | (272) | (541) |
| Minister's Pension Scheme | (2,509) | 0 | 0 | (2,509) | (5,420) |
| Minister's National Insurance | (1,024) | 0 | 0 | (1,024) | (2,519) |
| Apprenticeship Levy | (53) | 0 | 0 | (53) | (113) |
| Other Ministry and Support Staff | (22,418) | 0 | 0 | (22,418) | (30,914) |
| Salary | |||||
| Other Ministry and Support Staff | 0 | 0 | 0 | 0 | (21) |
| Pension | |||||
| Other Ministry and Support Staff | (59) | 0 | 0 | (59) | (266) |
| National Insurance | |||||
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| (38,761) | 0 | 0 | (38,761) | (66,850) | |
| ======= | ======= | ======= | ======= | ======= |
McQuiston is registered with the Pension Regulator as required and no employee was in receipt of employee benefits in excess of £60,000.
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McQUISTON MEMORIAL CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d) 31 December 2023
9. RAISING FUNDS
| Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| FWO Envelopes | (722) | 0 | 0 | (722) | (765) |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| (722) | 0 | 0 | (722) | (765) | |
| ======= | ======= | ======= | ======= | ======= |
10. LIFE AND WORK
| Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| Worship and Fellowship | (2,826) | 0 | 0 | (2,826) | (2,284) |
| Discipleship and Ministry | (428) | (900) | 0 | (1,328) | (2,829) |
| Mission and Outreach | (941) | 0 | 0 | (941) | (952) |
| Administration | (5,163) | 0 | 0 | (5,163) | (6,067) |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| (9,358) | (900) | 0 | (10,258) | (12,132) | |
| ======= | ======= | ======= | ======= | ======= |
11. GOVERNANCE
| Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| Governance Costs | 0 | 0 | 0 | 0 | 0 |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 0 | 0 | 0 | 0 | 0 | |
| ======= | ======= | ======= | ======= | ======= |
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McQUISTON MEMORIAL CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d)
31 December 2023
12. PROPERTY AND EQUIPMENT
| Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| Utilities | (24,023) | 0 | 0 | (24,023) | (27,278) |
| Repairs and Maintenance | (40,206) | 0 | (40,206) | (8,739) | |
| Insurances | (5,662) | 0 | 0 | (5,662) | (3,573) |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| (29,685) | (40,206) | 0 | (69,891) | (39,590) | |
| ======= | ======= | ======= | ======= | ======= |
13. GRANTS TO MISSIONS AND CHARITIES
| Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| United Appeal | 0 | (10,207) | 0 | (10,207) | (9,146) |
| Other PCI Schemes | 0 | (2,871) | 0 | (2,871) | (985) |
| Other Missions and Charities | 0 | 0 | 0 | 0 | (1,000) |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 0 | (13,078) | 0 | (13,078) | (11,131) | |
| ======= | ======= | ======= | ======= | ======= |
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McQUISTON MEMORIAL CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d)
31 December 2023
14. FUNDS CARRIED FORWARD
| Fund | Balance at | Receipts | Payment | Surplus / | Transfer | Balance at |
|---|---|---|---|---|---|---|
| start | (Deficit) | end | ||||
| £ | £ | £ | £ | £ | £ | |
| Unrestricted Funds | ||||||
| General Fund | 37,473 | 104,364 | (89,640) | 14,724 | (1,849) | 50,348 |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| 37,473 | 104,364 | (89,640) | 14,724 | (1,849) | 50,348 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| Restricted Funds | ||||||
| Building Fund | 49,767 | 9,568 | (40,206) | (30,638) | 0 | 19,129 |
| United Appeal | 10,207 | 8,511 | (10,207) | (1,696) | 1,030 | 9,541 |
| Benevolent Fund | 6,397 | 1,050 | 0 | 1,050 | 0 | 7,447 |
| Intern Programme | 7,700 | 0 | 0 | 0 | 0 | 7,700 |
| Organisations | 3,776 | 818 | 0 | 818 | 0 | 4,594 |
| Orphan Society | 1 | 0 | (180) | (180) | 179 | 0 |
| World Development Appeal | 604 | 604 | (425) | 179 | 0 | 783 |
| Moderators Appeal | 2,122 | 545 | (2,200) | (1,655) | 0 | 467 |
| Student Bursary Fund | 66 | 1,408 | (66) | 1,342 | 0 | 1,408 |
| Storehouse | 20 | 0 | 0 | 0 | 0 | 20 |
| Music @ McQuiston | 0 | 0 | 0 | 0 | 0 | 0 |
| Charity Donations | 200 | 267 | 0 | 267 | 0 | 467 |
| Presentation | 0 | 260 | (900) | (640) | 640 | 0 |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| 80,860 | 23,031 | (54,184) | (31,153) | 1,849 | 51,556 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| Total | 118,333 | 127,395 | (143,824) | (16,429) | 0 | 101,904 |
| ======= | ======= | ======= | ======= | ======= | ======= |
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McQUISTON MEMORIAL CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d) 31 December 2023
15. FIXED ASSETS
The congregation owns the Church premises situated at 83 Castlereagh Road, Belfast, BT5 5FE and the associated fixtures, fittings, plant, and machinery. The congregation also owns the Manse at 52 Kings Road, Belfast, BT5 6JL and the associated fixtures and fittings. These have an insurance value of £6,626,449 and £433,593 respectively.
16. INVESTMENTS
The congregation has the following investments held within the Presbyterian Church in Ireland General Investment Fund Scheme. Amounts are shown at market valuation.
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| General Investment Fund | ||
| S Robinson Bequest | 91,223 | 83,652 |
| Stewart Gift | 1,799 | 1,650 |
| Miss M McCochrane | 17,738 | 16,266 |
| Miss R Richardson Estate | 1,439 | 1,320 |
| Mrs Henry | 1,093 | 1,002 |
| Miss R Firth Gift | 1,799 | 1,650 |
| PWA | 1,146 | 1,051 |
| Miss E Stewart Bequest | 2,386 | 2,188 |
| Mrs Jordan | 1,986 | 1,821 |
| Mrs M Sloan | 1,519 | 1,393 |
| Mrs M Nesbitt | 1,986 | 1,821 |
| Mrs M Hughes | 386 | 355 |
| Mrs E Kerr | 480 | 440 |
| Miss V Graham | 2,066 | 1,894 |
| Mrs C Kenny Bequest | 3,092 | 2,835 |
| Mrs L Wilson | 1,892 | 1,735 |
| Anonymous Donation | 4,331 | 3,972 |
| Rev S Eaton | 42,553 | 39,021 |
| Johnston Family Memorial Gift | 11,061 | 10,143 |
| ---------- | ---------- | |
| 189,975 | 174,209 | |
| ---------- | ---------- |
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McQUISTON MEMORIAL CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d)
31 December 2023
17. CHURCH ORGANISATION FUNDS
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Organisation | ||
| Aerobics | 229 | 229 |
| Badminton | 213 | 213 |
| Boys Brigade | 5,120 | 5,707 |
| Choir | 24 | 24 |
| Flower Committee | 42 | 146 |
| Fund Raising | 49,768 | 45,860 |
| Girl Guides | 369 | 369 |
| Ladies Fellowship | 0 | 0 |
| Luncheon Club | 1,073 | 1,086 |
| McQuiston Toddlers | 238 | 238 |
| Senior Members | 560 | 1,108 |
| Sunday School | 3,149 | 2,543 |
| Take Two | 0 | 88 |
| Transformers | 0 | 4 |
| ---------- | ---------- | |
| 60,785 | 57,615 | |
| ---------- | ---------- |
18. LIABILITIES
The congregation has no liabilities.
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McQUISTON MEMORIAL CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d)
31 December 2023
RELATED PARTY TRANSACTIONS
One of the Trustees, the minister of the congregation received remuneration of £10,453 and allowances & expenses of £2,245 for acting in that capacity. Pension contribution of £2,509 was paid by the congregation in respect of the minister to the Presbyterian Church in Ireland Pension Scheme (2009). None of the other trustees received any remuneration.
During the year the congregation contributed the following amounts to Funds of the General Assembly of the Presbyterian Church in Ireland a separate charity:
£10,316 for congregational assessments £10,207 towards the United Appeal £425 towards the World Development Appeal £2,200 towards the Moderator's Appeal £66 towards the Students Bursary Fund
There were no other related transactions.
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