ORANGEFIELD PRESBYTERIAN CHURCH COngr•golion of the Pr•sbylerian Ch¥Jr¢h in Ir•land STATEMENT OF FINANCIAL Acrivtry for theyear ended 31 December 2023 Incorne and Endowments fram: Donatlons and legacies Ch3Tltable activftles Other trading artlvitles Investments 379,175 1,062 96,640 449 320,470 110,821 386 699,645 111.883 97,026 449 845.723 98.884 78.477 573 Other 4,870 4,870 1,838 Total 482,196 431,677 913,873 1,025,495 Expertdlture on: Rai51ng funds Charitable a¢tlvltles Other 475,180 90,191 328,420 25 803,600 90,216 844,833 73,578 Total 565,371 328,445 893,816 918,411 Net Income I lempendlturel 183,1751 103,232 20,057 107,084 Transfers between funds 180,929 1180,9291 Net movement in funds 97,754 177,6971 20,057 107,084 Reconclllation of funds.. Total funds brought forward 1205,8081 2,754.S82 2,548,774 2,441,69J Total funds carA*d forward 20 1108,0541 2.676,885 2,568,831 2,548,774 22 Page 19
ORANGEFIELD PRESBYTERIAN CHURCH a Congregation of the Pre5bylèrlan Church in Irèlond STATEMENT OF FINANCIAL POSITION As at 31 December 2023 Flxed assets: Taneible a55ets Investment5 12 11,976 2,$04.$28 2.516,504 2,573.270 13 Total fixed assets 11,976 2.504,528 2,516,504 2,573,270 Current a55ets Debtor5 Cash at bank and In hand 14 15 28,868 146.2651 6,732 178,575 35,600 132,310 36,243 219,831 Totsl ¢urrerbt assets 117,3971 185,307 167,910 256,074 Llabllltle5: Creditors: Amounts falling due within one year 16 102,633 12,950 115,583 71,704 Net Current assets or IlabSlltles 1120,0301 172,357 52,327 184,370 Totsl assets less current Ilabllltles Creditors.. Amounts fallin8 due after more than one year 17 208,866 Totsl net assets or Ilabllltles 1108,OS41 2,676,885 2,568,831 2,548,774 Funds of the charlty Restricted income lunds Unrestricted funds 18 2,676,885 2,676,885 1108,0541 2,7S4,582 1205,8081 1108,0541 Total charlty fundg 1108,0541 2,676,885 2,568,831 2,548,774 Approved by the Kifk Sesslon at a meeting on 10th lune 2024 and signed on its behalf bv Rev Gareth MacLean Mr JereTny Dowd Page 20
ORANGEFIELD PRESBYTERIAN CHURCH congrogation of the Pr•sbyterian Church in Irelond STATEMENT OF CASHFLOW Year ended 31 DeMtser 2023 2023 2022 Notes Cash flow from operatin8 artlvlties Net IncomellLossl 20.057 107,084 Adjustmentfor.. Depredation of tsngible fixed assets 76,539 74,562 Chonge5 in Tfade & other debtors Trade & other creditor5 644 11,050 3,268 117,4931 Net cash from operatin8 aciivltie5 108,290 167.421 Cash flowfrom Investlng actlvltles Purthase of t8nglble assets 119,7741 Net cash ftom operatin8 activltles 119,7741 Net increase/de¢rease In cash & cash equlvalent5 Cash and cash equlvalents al beginnlng of year 88.516 139,4111 167,421 1206,8321 Cash and cash equlvalents at end of year 15 49,105 139,4111 Page 21
ORANGEFIELD PRESBYTERIAN CHURCH ¢ongregqli•n of the Prèsbyl•rlon chuY¢h in Ir•lAnd NOTES TOTHE ACCOUNTS 31st December 2023 ACCOUNTING POLICIES 8ASIS OF FINANCIAL STATEMENTS The financial statements have been prepared in accordan with Accauntlng and Reporting Charities.. Statement of Recommended Practice applicable to charltles pceparin8 their accounts in aCcordart with Financial Reporting Standard applicable in the UK and Ireland IFRS1021 leffettive l January 20151. The financial statemènts have been prepa¥ed under the historical cost convention except for investment assets, whlch are shown at market value. The linanclal statements include all transactions, assets and Ilabilitles for whlch the congregation Is regponslble In law. They do not Include the accounts of church groups that owe their affiliatlon to another body, nor those Ihal are infoTmal 8atherin8s of church members. FUND ACCOUNTING Endowment funds are funds, the capltal of which mutt be retalned elther permanently or at the con8regation's dlscretlon.. the income derived from the endowment Is to be used either as restrlcted or unrestrS¢ted income funds dependin8 upon the purpose for whSch the endowment was e5tablSshed in the flrst place. Resirlcted fvnds comprise lal Income from endowments which is to be expended only on the restrScted purposes Intended by the donor and Ibl revenue donatlons or grants for a speclffc congre8ational a¢tlvSty Iniended by the donor. Where these funds have unspent balance5, interest on thelr pooled Investment Is apportioned to the Indlvldual funds on an average balance basls. Unrestrlcted funds are income funds whlch are to be spent on the con8re8atlon'$ general purposes. Desl8nated funds are 8eneral funds set aside by the con8Te8atlon lor use in the future. Page 22
ORANGEFIELD PRESBYTERIAN CHURCH ¢Ongwofion of the pr•$brin Church in Ir•lood NOTES TO THE ACCOUNTS 31st December 2023 ACCOUNTING POLICIESlconVdl INCOMING RESOURCES Reco8nition of Incoming resources These are included in the Statement of Financial Activltles ISOFAI when: the ton8re8ation becomes entitled to the resources: the trustees are virtually certain they wlll receive the resource5,' and the monetary value can be mea5urÈd with suffltient reliablv. Incomlng resources wlth related expendlture Where Incomln8 resources have related expenditure las with fundialslng Income) the incoming resources and related expenditure are reported 8ross In the SOFA. Grnnts and dortatlons Grants and donatlons are only Included In the SOFA when the con8re8atlon has uncondilional entltlement to the resources. Tax reclalms on donatlons and 81fts Incomin8 resources from tai ieclaims are Included In the SOFA at the same tlme as the 81ft to which they relate. Iv) Contractual Income and pertormance related grants Thi5 15 only Included in the SOFA once the Telaled good5 or 5ervlces have been delivered. {vll Glfts In klnd GSfts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually reallsed. Gifts In klnd for sale or disiributlon are included the accounts as glfts only when sold or dlstrlbuted by the charity where the vallte is 8reater than £2,500. Gifts in klnd for use by the charlty are Included in the SOFA as Incomlng resource5 when recelvablè. Donated 5eNlces and fadlltle5 These are only included In Incoming resources Iwith an equlvalent arnount In resources expended) where the beneflt to the charity 15 reasonably quantiflable, measurable and material. The value placed on these Tesour¢es is the estimated value to the charlty of the service or facllity received. 1111 Volunteer help The value ol any voluntary help recelved is Thot iftcluded In thè account5 but Is described In the trustees, annual report. 11111 Investment Income Thls Is included In the accounts when recelvable. lfvl Investment galns and losses Th15 includes any 8ain or loss on the sale of Investments and any galn or loss resulting from revaluin8 Investments to market value at the end ol the year. Page 23
ORANGEFIELD PRESBYTERIAN ¢HURCH ¢ongreytion of the PrèAbyl•rian Church in Ir•land NOTESTO THE ACCOUNTS 31st Dernbel 2023 ACCOUNTING POLiaESlcontdl EXPENDITURE AND LIABILITIES Liability rècognltlon Llabilities are recognised as soon as there Is a legal or constructive obligation committin8 the ¢ongregation to pay out resources. {vl) fjavernance costs These are shown within charitable activities and include the costs of preparation and examination of acwunts, the costs of trustee meetings and cost of any legal advlce to trustees on governance or constltutional matters. Ivlll Grants wlth performance condltSons Where the charlty gives a grant wlth conditions for Its payment bein8 a specific level of servlce or output to be provlded, such grants are only reco8nlsed in the SOFA once the reclpient of the grant has provlded the specilied service or output. Grants payable wlthout performanee condltlons These are only rerognlsed In the accounts when a commitment has been made and there are no condition5 to be met relatln8 to the grant whlch remain in the control of the charity. Support costs Support costs Include central functlon5 and have been allocated to acilvlty COSt categorles on a basls consistent with the use of resources, e.g. allocatln8 property costs by Ilooi area5, or pei caplta, staff co$15 by the time spent and other costs by their usa8e. A5SErs Tanslble Flxed Assets Tanglble fixed assets for use by charlty are capilallsed If they can be used for more than one year, and cost ai least E2,500. They are valued at cost or, If gifted, at the value to the charity on receipt. Depreciatlon Is recorded on all tangible flxed asset5 Other than freehold land, at rates calculated to write of the cost, less eslimated resldual value, of each asset over Its expected useful life as follows. Bulldlng5'. Flxtures. Nttin85 and equlprnent Motor Vehicles Computer Equlprnent over 50 years . over 10 years over 4 years . over 4 years As thè majorlty of flxtures, flttin8s and equlpment were purchased in 2008 they are deemed to be of Ilmlted value 50 not included as Tanglble Flxed As5et5. It Is not poliry to capitalise ¢omputeis and assoclated hardware. {Ivl Investments Investments quoted on a reco8ni5ed stock exchange are valued at market value ot the year end. Other investment assets are Included at trustee5' besi estlmate of markei value, Page 24
ORANOEFIELD PRESBYTERIAN CHURCH <ongr•gation of th• Presbytèiknn Chur¢h in Ireland NOTESTO THE ACCOUNTS Itonvd) 315t December 2Q23 DONATIONS AND LEGACIE5 Recorded glving: Loose collections Donations and gifts Gift Aid Legatles and bequest 307,332 8,511 5,102 58,230 235.618 542.950 8,511 44,459 103,725 566,280 8,783 141,275 93.820 35,56S 39,357 45,495 379,175 320,470 699.64S 845,723 CHARfFABLE A1vlEs Membershlp fees Fundralsing event5 Grants 48,058 2,315 60,448 48.058 2,377 61,448 42,142 1,226 55,516 62 I,ooJ 1,062 110,821 111,883 98,884 Page 25
ORANGEFIILD PRESBYTERIAN CHURCH • congreg4thon of th• Pregbyterian Chur<h in Irèlthnd NOTESTOTHE ACCOUNTS Iconvdl 31st DeMtser 2023 OTHER TRADING AcfiviTIES Arc Café Other trading income 81.791 14,849 81,791 15,235 67,334 11,143 386 96,640 386 97,026 78,477 INVEsfMENTS Deposlt Interest 449 449 573 449 573 OTHER INCOME Other income 4,870 4,870 1,838 4,870 4,870 1,838 RAISING FUNDS FWO envelopes Fundralsing events Pa8e 26
ORANGEFIELD PRESBYTERIAN CHURCH a congr•9alitin of the pr•$brIn church in Ireland NOTESTO THE ACCOUNTS Iconvdl 31st Otcember 2023 CHARITABLE ACTIVITIES General Assembly Assessments PresbyLery fees Mlnistry and support staff costs Congregational running expen5e5 Donations to Misslons and charities Depreciation of Fixed Assets Governance costs-intludlng audittsrs remuneratlon ExpIlon3l Costs of ¢haritable actlvltles 20,049 938 284,764 127,789 34,646 1.996 4,998 25,728 45,777 938 329,269 227,453 118.626 76,539 4,998 46,417 44,SOS 99,664 83,980 74,543 283,3(MJ 216,968 219.317 74.562 3,380 475,180 328,420 803.600 844,833 Audltors remuneratlon 2023 2022 Fees Payable for the audit of the flnancial statements 3,300 3.0(KJ Fees payable to the charltv's audltor and its associates for other servlces other non-audlt 5ervlces 3,498 2,100 OTHER EXPENDITURE Investment propertle5 expenses ARC Bank Interest on Loan 79,228 10,963 25 79,253 10,963 64,372 9,206 90,191 90,216 73,578 io. Employment Costs EMPLOYEES Wages and Salaries Social Security Cost5 PensSon contribution5 316,148 26,218 34.853 284,193 23,810 30,438 377,219 338,441 Page 27
ORANGEFIELD PRESBYTERIAN CHURCH <ongr•goli•n of the Presbyl•vian chur¢h in Ireland NOTES TOTHE ACCOUNTS Iconvdl 31st December 2023 Number ot employees The average number of employee5, includlng the minister of the congregation, during the year was 2023 2022 Avera8e number of employees 16 15 There were no employees in recelpt of employee benefits in excess of £60,0(X). ii. PENSION COSTS The ministers of the congregation are members of the Presbyterlan Church in Ireland Penslon Scheme (20091. This is a scheme operated by the Presbyterian Church in Ireland, a separate re815tered charity. The congregation pays an assessment to the Presbyterian Church in Ireland equivalent to the employer's penslon contribution for the Scheme and based on the stipend pald to the minlster. The Presbyterlan Church In Ireland Pension 5¢heme12009115 a funded Scheme of the deftned benefit type, provlding defined benefits based on career average revalued salary. The Scheme has a55et5 held In a separately odmlnistered fvnd managed by a boaTd of trustees. The Presbyterlan Church and the Scheme Trustees have agreed a fundln8 plan to ensure the Scheme Is suffl¢lently lunded lo meei current and future obli8ations. A formal schedule of contrlbutlon5 wa5 drawn up on 25 November 2015 whereby the Presbyterian Church agreed to pay from 31 December 2015 contrlbutions of 24% of penslonable Salaries to cover the a¢¢rual of benefits for future Service, expenses. the cost of insuring death in Service beneflt5 and funding the scheme deflclt. The conlrlbvtlons made by rhe ¢ongregatSon durln8 the year were Contrlbutions 18,231 17,295 The con8re8ation operates a defined pen51on contributlon pollcy for Its employees. The scheme and its asset5 are held by an indepèndent scheme manager5. The pension charge repre5ent5 the contributlons due from the congregation during the year Contrlbutlons 16,623 13,143 For the year ended 31st December 2023 £988 wa5 OUt5tandlng 12022-£8211 Page 28
ORANGEFIELD PRESBYYERIAN CHURCH ¢on9regadon of the Presbylèrian Chur¢h in Ireland NOTESTO THE ACCOUNTS Iconvdl 31rt December 2023 12. TANGIBLE FIXED A5SErs Cost or valuatlon At start of year Additions Disposals 3,628,300 19,960 19,774 3,648,261 19,774 At end of year 3,628,3(JJ 39,734 3,668.035 Depredatlon At start of year Provlsion for year Dlsposa15 11,069,003) 172,5661 15,9871 13,9731 11,074,990) 176,5391 At end of year 11.141,5691 19,9601 11,151,529) Net Book Value At start ol year 2,559,297 13,973 2,573,270 At end ofyear 2,486,731 29,773 2,516,504 13. INVESTMENTS 2023 2022 General Investment Fund Investment Propertie5 NIA Value at start of year Addilions DIsp05a15 Impairrnent Gains / ILosses on revaluatlonl Value at end of year Page 29
ORANGEFIELD PRESBYfERIAN CHURCH o ¢ongregation of th• Pr•sbyterian Chur<h In Ir•land NOTESTOTHE ACCOUNTS Iconedl 31st December 2023 DEBTORS 2023 2022 Gift Aid Recoverable Other Debtor Trade Dèbtors Prepaylnents 20.351 6,191 18,164 4,789 615 12,675 8.216 35,6 36,243 15. CASH ATBANKAND IN HAND 2023 2022 Danske General Funds Danske Bulldin8 Fund Danske No 2 Alc Manse Account Danske UAM Danske MSG Oanske Benevolent Danske Orangepips Arc Café Youth Or8anlsatlons 11,223 11,952 12,271 857 17,483 1,633 S,640 3,467 17,257 31,110 19,417 71,427 14,617 29,399 6,883 13,633 17,978 8,605 7,25S 17,843 14,645 17,546 Cash at bank and In hand 132,310 219,831 Bank loan5 183,2051 1259,2421 Cash and Cash equlvalents 49,105 139.4111 16. CREDITORS., amount falllng due wlthln one year 2023 2022 Runnin8 Costs PAYE & Penslon Accruals & Deferred Income Loart with Dan5ke Bank Provlsion for Doubtful debt VAT 1,671 4.784 15,201 83.205 6,400 4.322 3,221 14,1771 12,042 50.376 6,4 3,843 115,583 71,705
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16a. DeftrrÈd Income 2023 2022 At I january 2023 Grant income deferred Amount released to income 9,042 48,821 145,6581 10,103 36,166 137,2281 At 31 Oecember 2023 12,205 9,042 Page 30
ORANGEFIELD PRESBYTERIAN CHURCH a ¢ongr•gation of ihe Pr•sbyterian Chvr¢h In Ir•l•nd NOTESTO THE ACCOUNT5 Icont'dl 31st Derntser 2023 17. cREDOR5.. amount falling due after more than Dne year 2023 2022 208,866 Loan with Danske Bank 208.866 18. FUND BALANCES AND RECONCILIATION OF FUNDS Gainsl Losses Transfer 8alance at end Fund Balance at start Income Expend. Unre5trlcted Funds General Fund5 1205.8081 482,196 565.371 180,929 1108,0541 1205,8081 482,196 565,371 180,929 1108,0541 Restrlrted Funds Fixed A55et fund Special CollectSon5 For use of se5slon Worship Co-ord Church Weekend Alc ft&R Manse Fund Unlted Appeal & Mlsslon 8ulldin8 Fund M1s5iDn Sub Group Benevolent Fund Orangepips Or8anlsatians Edutatlon Authorlty Youth Tear Fund Imcares Helpin8 Hands Alpha IJM 2,559,297 3.515 4,970 6,262 250 41,631 7,387 19,779 48,855 19,345 8,509 5,255 20,895 6.584 2,050 72,566 2,486,731 3,515 4,970 6.262 250 44,404 1,165 21,327 40,986 20.345 2,838 1,762 22,766 19,546 34,818 32,045 6,222 25,728 32 42,610 21,037 47,792 24,817 35,3(XJ 14,130 2,976 80 67,276 179,163 3,610 15,366 44,299 26,688 48,262 6.009 2,976 100 3,QM)O iio 140,0001 1187,OWI 40,(0 6,071 20 3.0 iio 2,754,582 431,677 328,445 1180,9291 2,676,885 Ourln the r the followln transfèrs were rnade 11 An amount of £187,000 wa5 tran5fErred frorn reslricted buildin8 fund to the unrestrlcted 8eneral funds. Th15 represented the ongoln8 repayment of loans dr6wn down for the constructlon of the church. Pa8e 31
ORANGEFIELD PRÉSBYTERIAN CHURCH
a