2023-12-31-annual-report

GRANSHAW PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland an GOING CONCERN The total income of the church is in line with the prior year. Net current assets have increased by 14% and liabilities have decreased by 36% showing an improved balan￿ sheet with cash on hand at £197,408. The activities of the congregation are dependent on ongoing contributions from its members. The Trustees are of the opinion that the congregation has sufficient resources at the date of approval of these financial statements to meet commitments which will arise in the year from the date of signing this report and subject to the continuing support from members to fund on an ongoing basis the congregation's current activities and other financial commitments. As a result the financial statements have been prepared on a going concern basis. RESERVES POLICY The Trustees have considered the level of unrestricted reserves that it is appropriate to hold taking account of current and ongoing commitments. At the year end unrestritted reserves were £1,314,678 (2022: £1,322,112), the Trustees, consider it prudent to hold reserves at RISK REVIEW The Trustees regularly review the risks and the systems and procedures implemented to manage the identified risks. The principal risks are in relation to the likelihood of reputational damage and financial risks associated with the expectation of ongoing financial support from members. These risks are mitigated by the Trustees, and the Congregational Committee, regularly monitoring the various activities of the congregation at stated meetings and by encouraging members In their regular giving. Approved by the Kirk Session at a meeting on 22 April 2024 and signed on its behalf by: [Name] [Namel l. [Datel 18 [Date] 2(-AFAiL 81Page