Presbyter an ORANGEFIELD PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland Trustees, Annual Report and Financial Statements for the year ended 31 December 2023 Registered wlth the Charlty Commission for Northern Ireland NIC104513 Page I
Presbyter an ORANGEFIELD PRESBYTERIAN CHURCH Congregation of The Presbyterian Church in Ireland TRUSTEES, ANNUAL REPORT The Trustees present their Annual Report and Financial Statements for the year ended 31 December 2023 including a Balance Sheet as at that date. REFERENCE AND ADMINISTRATIVE DETAILS Orangefield Congregation of the Presbyterian Church in Ireland 464 Castlereagh Road, Belfast, BT5 6BH Registered Charity in Northern Ireland INIC1045131 CHARITY TRUSTEES The Charity Trustees who served during the year or who were trustee5 at the date of this report were: Gary Ball Craig Blair John Boyd Eric Brunton Daphne Caldwell Brian Campbell Jonny Campbell Naomi Campbell John Compton Thelma Crawford Jose Cummings Anna Davison Gavin Doherty Stephen Douglas Jeremy Dowd Hannah Elliott Stephen Ellis Campbell English Deborah Ford Dean Francis Ross Hart David Irvine Robin Jamison Alan Jennings Gareth MacLean Roger Mcconnell Ruth Mcconnell Sarah Mccullough Stephen Mcmechan Vanessa Montgomery Joan Moore Peter Shields Mark Smyth Gary Steenson Ken Tweedle Dave Whitcroft Mark Wright On sabbatical from March 2023 Page 2
Presbyter an ORANGEFIELD PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland PRINCIPAL OFFICE BEARERS Minister Rev Gareth MacLean Clerk of Session Mrjeremy Dowd Treasurer Mr Gary Hartin AUDITOR Muir & Addy Muir Building, 427 Holywood Road, Belfast BT4 2LT BANKERS Danske Bank Donegall Square West Belfast BTI Page 3
an ORANGEFIELD PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland STRUCTURE AND MANAGEMENT The Kirk Session The charity trustees of the congregation are the members of its Kirk Session. Underthe congregation's governing document, The Code, the book of the constitution and government of the Presbyterian Church in Ireland, the Kirk Session seeks to watch over and promote the spiritual interest of the congregation and of persons not connected with any congregation who are within its bounds. It ensures pastoral care is in place in the congregation and seeks to further the contribution of the Church to Christian witness and service in the local community. The Kirk Session has delegated to its Congregational Committee the temporal affairs of the congregation including administering all funds and property belonging to the congregation. Members of the Kirk Session are ex-officio members of the Congregational Committee. The Kirk Session consists of the ordained ministers and the ruling elders of the congregation. All members are entitled to propose, Speak and exercise equal votes at meetings, except that the Moderator, the minister in active duty in the congregation, has no deliberative but only a casting vote. Stated meetings of the Kirk Session are normally held monthly from September to June. To be chosen for the office of the eldership in the congregation, a person must be a voting member and a regular attendant on its ordinances. The selection of those proposed to be called to the office can be either by the congregation or by the Kirk Session. Members are elected if they obtain two- thirds of those who vote. Presbytery Under the Presbyterian Church in Ireland form of governance, the corporate oversight of congregation is the responsibility of a Presbytery which superintends generally the spiritual and temporal affairs of the congregations assigned to it by the General Assembly of the Presbyterian Church in Ireland. Orangefield Presbyterian Church has been assigned to the East Belfast Presbytery of the Presbyterian Church in Ireland. The membership of the Presbytery consists mainly of the active ministers of congregations assigned to it by the General Assembly, ministers who have retired from active duty and an elder appointed by the Kirk Session of each congregation. The General Assembly The General Assembly is the supreme court of the Church, representing in one body the whole Church and acting a5 its supreme legislative, administration and judicial authority, in dealing with all rnatters brought before it. The General Assembly is normally constituted in June for worship and to conduct its busine55. At the end of business, it is dissolved. The membership of the General Assembly consists mainly of the active ministers of each congregation, retired ministers and a representative elder appointed by the Kirk Session of each congregation. Page 4
Presbyter an ORANGEFIELD PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland DESCRIPTION AND PURPOSE Orangefield Presbyterian Church is a congregation of the Presbyterian Church in Ireland. The Presbyterian Church in Ireland, as a Reformed Church within the wider body of Christ, is grounded in the Scriptures, and exists to love and honour God through faith in His Son and by the power of His Spirit, and to enable her members to play their part in fulfilling God's mission to our world. Our congregation's purpose is to be a praying, worshipping Christian community; empowered by the Holy Spirit to follow Jesus da ily and minister in his name. As an evangelical church we are Father-Focused, Christ-centred and Spirit-sensitive. As 3 congregation of the Presbyterian Ch urch in I reland, we believe that the Bible is the supreme authority over all we do, and that the Westminster Confession of Faith, along with the Larger and Shorter Catechisms, set out what we understand the Bible teaches on key matters of Christian faith and practice. In September 2023, at a special weekend event, we launched our new Vision, with the strapline Together WITH JESUS BRINGING LIFE to Belfast and the nations. As Jesus followers we a re invited into his life, his story, and his mission. It is a story of multiplication: I became 12; 12 became 120,. and 120 became 30CQ. Today there are 2,2 billion Christian5 on the planet with 5.8 billion people needing to encounter and accept Jesus. As God's people in Orangefield, we continue to hunger for God's Presence,. we read our Bibles, we care for one another and we love our neighbours. However, as we journey towards April 2033, the date that will celebrate the 2000th anniversary of Jesus resurrection, our goal must be multiplication disciples making d isciples, ch urches planting churches. In this season we will prioritise: Deep Connections We seek to grow as God's family, marked by hospitality, authenticity and deeply committed relationships. Spiritual Formation We seek to become more like Jesus through our gathered and individual rhythms and we intentionally raise up others as disciple-makers. Compassionate Giving o We 5eekto support and bless individuals and communities at home and around the wo rld through rad ical service and generosity. Courageous PioneerinE o We seek to practice innovation, creativity and partnership as we equip God's people to walk in the Spirit and see His Kingdom come. These priorities are uniquely rooted in the story God has been telling in Orangefield for over 80 years. They reflect much of who we are and what we do. However, more than that, as the cultural and spiritual landscape of Belfast and Northern Ireland changes, these a re the things God is calling usto embody with a new imagination and inten51ty, as we partner with His Spirit in telling and living the Gospel in a world that is lost and anxious. Page 5
an ORANGEFIELD PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland ACTIVITIES AND OBJECTIVES The congregation meets for worship every Sunday and visitors are welcome to join. The Sacrament of the Lord's Supper is observed regularly during the year, and those who have been baptised and who have made a credible profession of faith in the Lord Jesus Christ are admitted to the Lord's Supper. The congregation holds regular bible study meetings and has a wide range of organisation5 and ministries including; 4U2 Alpha Arc Café Bowls Fellowship Boys, Brigade Brownies Community Bible Experience (CBE) Crèche Foodbank Freezer Ministry Friendship Group Girls, 8rigade Grietshare Hamper Ministry Home Groups JAM Summer scheme Lunch Club Orange Pips Playgroup PW (Presbyterian Women) Rainbow Guides SALT & LIGHT (Sunday School) SNYF (Sunday Night Youth Fellowship) Page 6
Presbyter an ORANGEFIELD PRESBYTERIAN CHURCH Congregation of The Presbyterian Church in Ireland ACHIEVEMENTS AND PERFORMANCE Worship and prayer The congregation has met for worship each Sunday at 10:30am and 7:00pm. We have held Seniors, Services several times each year on Sunday afternoons for those who find it difficult to attend worship at other times. During the week, in church and in small groups, members of all ages have met together for prayer, fellowship, and to Study the scriptures. Throughout the year, our morning service continued to be streamed live on YouTube, and recordings were made available to members without access to the online services. As well as our regular services, during the year we acknowledged God's gift of new life as we celebrated eight Sacraments of Baptism, and we conducted one marriage service. We also gave thanks for faithful members, and sought to comfort those who had been bereaved during the year, as we conducted ten funerals. During the year we welcomed 27 new communicant members, and at 31 December2023 there were 605 communicant members and 515 families connected with the congregation. Pastoral care Members of the congregation who are unable to attend church due to sickne55 or age are visited or otherwise contacted on a regular basis by the minister, pastoral staff, elders, or one of the congregation's volunteer pastoral visitors. Mlsslon and outreach We provide services to our local area through ministries such as the Arc Café, our pre-school playgroup IOran8e Pipsl, our Foodbank, our parent and toddlers group, our youth work in Clonduff and Clarawood, our 5UPPOrt of the OAK Partnership in Clarawood, and our many other organisations. We seek to proclaim the Good News through these group5 and other outreach events like the Alpha course. We 5UPPOrt local and global mission workers through our offerings, and give prayerful and practical support to many of our members who are involved in short-term mission and outreach projects each year. The congregation supports the United Appeal for Mission which is a central fund of the Presbyterian Church in Ireland. This fund enables congregations to support the wider mission of the denomination and to do mission and outreach on a denominational basis. The United Appeal Fund provides financial support for mission personnel at home and overseas, assists congregation5 Wlth the deployment of locally based staff, enables church planting, provides grant support forthe upkeep of church premises, assists with the runni ng custs of Union Theological College (the traini ng college for ministry student5), and financially supports congregations in the areas of worship, discipleship, global mission, outreach, leadership and pastoral care. Page 7
an ORANGEFIELD PRES8YfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland Presbytery The congregation is represented at regular meetings of Presbytery by our ministers and two of our elders. This provides an important link between the congregation and the wider structures of the church. General Assembly The ministers, one of our elders and an under-30 representative attended the meeting of the General Assembly of the Presbyterian Church in Ireland in Assembly Buildings, Belfast, in June. Property No major repairs or refurbishment projects were required durlng the year. A significant investment was made towards the end of the year when solar panels were installed on the roof of our building. It is anticipated that this will result in substantial savings to our electricity bills. Organisatlons: 4U2 is a group run through the church for adults with and without additional needs and disabilities. We meet on the last Tuesday of every month either in the church building or off-site, depending on the activity planned. We normally have around 9 members who often bring along family members that stay and participate in the session, providing an opportunity for connection and support forthem too. We try to run a varied programme which range5 from crafting and cooking to quiz and games night5 and off-site activities such as ten pin bowling or crazy golf. We have a family Christma5 Party and an end of term June Family Party. Alpha is Orangefield's central outreach activity for adults. This year has been a very busy year as we ran and supported 5 individual courses. There have been many highlights one being in September we had 10 people involved in a partnership with Windsor Presbyterian to deliver an Alpha at the International Meeting Point. This course was primarily focused on foreign nationals and we are very thankful that around 60 -70 people attended each week. We are blessed to have an Alpha team who are not only committed to Alpha but also have a heart for each and every guest who comes along. Boys, Brigade meets each Friday to cater for boys aged 4 years to 18 years old, with an average attendance of around 100 boys. Bowling Fellowship meets every Monday evening from 7.00pm until 9.30pm from September until April lor Easter, whichever comesfirst). We enjoy both bowling and fellowship and end each evening with an epilogue and light supper. The ages of our members range from 405 to 905 and our members come from Orangefield, other churches and a fewwith no church connection. Our average attendance since September has been 28. Brownies Illth Belfast Brownies continue to meet on a Monday evening from 6.30 pm to 8.00 pm. The girls continue to enjoy a varied programme including completing their'Take Action, badge, games, crafts, cookery, planting bulb5 and taking part in UK Parliament Week. They had visit5 from The Cats Protection and Clayful Minds. They also had an outing to Belvoir Forest Park and a Pantomime. The average weekly attendance was 15. Page 8
Presbyter an ORANGEFIELD PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland Community Bible Experience (CBE) Three CBE groups, comprising about 30 people, meet weekly to read the Bible (in CBE format) and discuss it together. We believe reading the Bible and seeking/ sharing a deeper understanding of what it contains is the most fundamental element of each individual's faith journey. Community Youth Clubs These clubs within our local communities of Clonduff and Clarawood have continued throughout 2023. The clubs run across 3 sessions (Monday and Friday night in Clarawood // Friday night in Clonduff in partnership with the Clonduff Community Association) for approximatelv 48 weeks a year. We have 59 children aged 7- 12 and 24 teens aged 12 - 18 currently registered and attending throughout the year. This was sUPPOrted by 2 part-time Youth Support staff and 13 volunteer leaders who planned and delivered a programme that included games, crafts, trips, sports and group work in order to contribute to the personal, social and spiritual development of children and young people. Crèche runs on Sunday mornings alongside church, for babies and toddlers from 0-3yrs. It provides a nurturing environment for children up to nursery age during the morning seiCe and provides age- appropriate activities and regular bible Story time. Attendance ha5 increased lately, with an average of 15-17 children per seNice. Activities include storytelling, arts a nd crafts, puzzles a nd outside play time, encouraging children's social development. Our volunteers ensure a safe and welcoming space for all of our children, and we try and have some quieter, calm time during a small snack and drinks break. Recent feedback from parents has been very positive and we are pleased to provide this safe space for the youngest members of our church family. Foodbank continues to operate on Tuesday and Thursday afternoons as a satellite of Dundonald Foodbank, in association with Trussell Trust. The Foodbank mission statement is, 'Inspired by the example of Jesus, we seek to Support those in need within our community and help people connect with Him". We do this byoffering food, a listeningear, prayerand information.This work isgenerously supported by our congregation and other local individuals and organisations. We have 15 volunteers and staff involved in the ministry and in 2023 we distributed 793 food pack5 which helped feed approximately 2,500 local people in need. Friend5hlp Group The purpose of the group is to encourage friendship and fellowship and give opportunities to our senior members to visit new places, through our summer coach trips, and enjoy a variety of speakers and activitie5 in the autumn and winter months. Following an April Afternoon Tea, we offer a varied programme of seven visits by coach during the summer months, when church activities have stopped, with an average attendance between 40 and 45. During autumn and winter, we arrange fortnightly meetings, offering physical exercise5, refreshments and a variety of speakers and activities, With an average attendance of 25. 58 of the 65 members attended the Christmas dinner. Girls, Brigade We have had a fantastic year at GB during 2023, continuing in our mission to encourage the next generation of girls to Seek, serve and follow Christ in their l ives. Each Thursday night we have had approximately 110 girls through our doors, from 3 years old right up to 18. Our team of devoted leaders plan engaging activities each week - as always singing, art, bible study and baking are GB favourites. A highlight of the year for older girls was a trip to Colin Glen while our younger girls enjoyed their annual trip to the fire station. Page 9
Presbyter an ORANGEFIELD PRESBYfERIAN CHURCH a Congregation of The Presbyterlan Church in Ireland Griefshare 2023 was a very quiet year for Griefshare, although we had several course5 on offer no one attended, possibly due to the fallout from the pandemic. Home Groups Home Groups provide a special opportunity for spiritual growth, support and encouragement and during 2023 we had 22 home groups within Orangefield with a total membership of over 220. Highlights for the year include 2 new young adults, group5 and a number of new members for a range of ages and stages. We are planning for ongoing growth in membership and are expectant for how our wider vision for Deep Connections, Spiritual Formation, Compassionate Generosity and Courageous Pioneering will bring further life and depth to thi5 valuable ministry. INSPIRE is a Football and Creative Arts week that is run for a week in July for children and young people. In 2023 we had 82 children aged 7 - 12 registered. The programme consisted of teamwork, football skills, matches, dancing, crafts, bakin& STEM, music and drama. This was supported by a team of over 25 volunteers who planned and delivered activities that supported the physical and mental health and personal development of children and young people. We also brought in local experts to train up and deliver specific areas of speciality i.e. football and dance. JAM is a summer scheme for children and teenagers. It runs for one week during the month of August. In 2023, we had 257 registered children aged 5- 11 {daytimel and 140 teens aged 11- 16 leveningl attending across 3 location5 Iorangefield, Clonduff and Clarawood) with an average attendance of 317 children and young people every day for 5 days. This was Supported by over 70 leaders. We also ran a junior leader training programme within this week for 40 young helpers aged 11-16. The programme was a week filled with singing, stories, crafts, games, team building and FUN when children and young people got to hear the amazing story of Jesus. Oran8e Pips is our pre-school playgroup. Our aim is to provide a happy, caring and stimulating environment. We welcome children from all section5 of the community, with up to 24 attending per session. We currently run 5 sessions weekly and have 42 children attending across the week. We had consistent staff team in 2023 with the playgroup manager continuing to develop the team and playgroup and hoping to expand the staff and recruit volunteers in 2024 to meet the changing needs of the children attending. Presbyterian Women Our PW group continues to meet every month. It has been lovely to welcome over forty ladies at each meeting with Some attending for the first time and to see returning members. We have had a variety of speakers over this year's session who have all been well received by our members. Supper is served at the end of each meeting. We appreciate the support given to PW by the church. Rainbow Guides meet on a Monday night with an average attendance of 12 girls. During 2023 we had a visit from Cats Protection and Jo Jingles, went 10 pin bowling and had educational visits to Knock Fire Station and Belvoir Forest Park. The Minister came along to tell the girls all about the Easter Story. We did badge work and attained our Agility, Drawing and First Aid Stage l and 2 badEes. We went to the Christmas Panto at Stranmillis College and attended the Girlguiding Division Carol Service. We also made different crafts, e.g., painted stones for hiding in Orangefield Park, made jewellery, planted bulbs, decorated pancakes and cupcakes. Page 10
an ORANGEFIELD PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland SALT is our Sunday school that meets during the morning service, and has 4 main priorities. l. Word - we will try to improve children's biblical knowledge and understanding. We are focusing on the life of Je5US U51 ng the Energize resource. 2. Presence - we will enable children to develop confidence in prayer. We aim to pray with and for the children each week. 3. People we will try to develop warm and caring relationships. We try to give time to help the children to get to know each other. We had a Christmas Party and a trip to 5treamvale Farm. 4. World- we will encourage children to live outtheirfaith. This year we were able to take part in the Samaritan's Purse Shoe Box appeal. We have 18 leaders, 3 worship leaders, 71 children registered and an average attendance of 34 per week LIGHT is the weekly Sunday programme which takes place during the morning service for those between 10 and 13 years old where age-appropriate Bible teaching is provided using presentations, group discussion and interactive activities. Over the past year, the average attendance was around 16 children per week and the programme followed a number of teaching series, including lookin8 at Old Testament characters and what it means to live as a Christian. SNYF - In the past year, our Sunday Night Youth Fellowship {SNYFI has seen over 30 young people attend each week. Our evening5 begin with some active games in the Parke Hall before moving to the Youth Room. We have dedicated time to worship and prayer, aiming to encourage a deeper relationship with God. Our teaching session5 have delved into understanding our faith and its relevance in our da ily lives, providi ng opportunities for discussion. Empha5i5ing missions has helped to broaden our perspective and actively consider ways to serve our community and beyond. Additionally, inviting church members to share their stories has helped to inspire and encourage, creating deeper connections with the wider church family. Tots & Co Clarawood runs weekly during term time In the OAK Centre, with numbers varyin8 between 8-16 adults accompanied with a child or children lusually no more than 3 per adult). This is a space that a I lows the pa rentlcarer to create bonds with their child/children doing crafts, singalong and imaginary play. The activities help babies/toddlers engage with other children which helps to develop their Social skills and build confidence in the children. This space also creates friendships with other parents/carers to help eliminate loneliness. Most activities will have a faith-based theme to them. TnC@OPC on average ha5 30 attendees. We meet every other week and provide a relaxed, safe space where tots and their carer5 chat, sharing stories and experiences over a cuppa. As volunteers we provide a listening ear and support. VOLUNTEERS The Trustees wish to acknowledge their deep appreciation of those who give freely of their time by serving on committees and helping with organisation5 and other church activities. Without them. we would not be able to offer Many of the services outlined above. Page 11
an ORANGEFIELD PRESBrfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland PUBLIC BENEFIT STATEMENT The Presbyterian Church in Ireland meets the public benefit requirement by providing benefit to it5 members and the general public by making known the Christian Gospel of the Lord Jesus Christ through the advancement of religion. The direct benefits which flow from the purposes of the Church include the gaining of an understanding in Christian beliefs as set out in the Bible and in the Church's subordinate standards Ithe Westminster Confession of Faith and the Shorter and Larger Catechisms) leading to spiritual and moral development and opportunitie5 for response to Bible teaching. In turn, this framework lead5 to practical expre55ions of Christia n beliefs and standards in the local community such as through the care of those in need l includin8 the sick, disabled and bereaved). Generally, the above benefits are delivered locally by congregations and their members, or are facilitated through presbyteries or are organised and delivered centrally. At time5, local delivery is facilitated by central resources. Public access is made known through the use of noticeboard5, printed material, press advertisement, websites, and social media. The benefits are demonstrated through regular evaluation of the service5 and informal and ad-hoc feedback from members, their families, and members of the public. The purpose does not lead to harm. The only private benefit flowing from our purpose is related to Ministers, Missionaries, Deaconesses, Irish Mission workers and Lay Agents who receive benefits as a result of their holding office or employment. However, this is incidental and necessary in order to further our charitable purpose. There are no other private benefits. The beneficiaries of this purpose are members, their familie5, Other individuals that the Presbyterian Ch u rch in Ireland is in direct and indirect contact with, the community in which pastoral services are provided and other communities throughout Northern Ireland, the Republic of Ireland, and worldwide which benefit from our engagement with and support for both Christian and other secular organisations, charities and individual members of the public. The Kirk Session has had regard to the Charity Commission's public benefit requirement statutory guidance. Page 12
an ORANGEFIELD PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland FINANCIAL REVIEW The congregation's main source of income continues to be the generous contribution from our members. There were 361 contributing families during the year 1365 in previous year, 2022). Donations received from the Freewill Offering totalled £304,832 (£318,173 in previous year, 2022). Other Donations & Gifts decreased when compared to the previous year - £44,459 in 2023 {2022 - £141,275). This was mainly due fundraising efforts for the Ukraine Anniversary appeal in the prior year. Total Income of the congregation during the year was £699,645 compared to £845,723 in the previous vear. Total expenditure decreased in the year from £918,411 to £893,816. This year, donation5 distributed to other charities decreased from £219,317 in 2022 to £118,626 in 2023. There was good news for the Building Fund in 2023. At the start of this financial year, the loans used to finance the construction of our church building stood at £259,242. At the year ended 31 December 2023, this debt stood at £83,205. RESPONSIBILITIES IN RESPECT OF THE FINANCIAL STATEMENTS The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. The Trustees are required to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the congregations and the financial activities for that year. In preparing the financial statements the Trustees are required to: select suitable accou nti ng policies and then apply them consistently make judgements and estimates that are reasonable and prudent prepare the fina ncia I statements on the going concern basis unless it is ina ppropriate to presume that the Funds will continue in operation. The Trustees 3re responsible for keeping adequate accounting records that are suff icient to show and explain the funds, tra nsaction5 and disclose with reasonable accuracy at a ny time the f inancial position of the congregation and enable them to ensure that the financial statements comply with the Statement of Recommended Practice "Accounting and Reporting by Charities11 January 2015)". They are also responsible for safeguarding the assets of the congregation and hence for taking reasonable Steps for the prevention a nd detection of f raud and other irregularities. Page 13
an ORANGEFIELD PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland GOING CONCERN 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 on80ing basis the congregation's current activities and other financial commitments. RESERVES POLICY The Trustees approved the following as the Reserves Policy, based on the recommendation of the Treasurer and Finance Team; The Trustees have considered the level of unrestricted reserves that it is appropriate to hold, taking account of current and ongoing commitments. It is the policy of the Trustees to endeavour to hold at least 2 months, normal expenditure1£50,000). Loan repayments: It is the intention of the Trustees to retain 2 months, loan repayments in the Building Fund a/c. This affords the comfort that, should there be a shortfall in monthly loan repayments, they would be in a position to make up the difference in the short term. Assets: A church asset register is in place and will be updated monthly. A rolling replacement schedule is in place for major 355et5. At the year-end the free reserves (excess of unrestricted current liabilities over current asset51 were in deficit by £120,030. This has not met the leve15 identified within the current reserve policy. The reason for the negative free reserve position is due to the annual loan repayment commitment that was required for the construction of the church building. An optimal level of working capital will be maintained to meet the Ministry, staffin8 and congregational running costs and will support a medium-term goal of full repayment of the church building loan. On final completion of the loan repayment additional surplus reserves will go towards meeting the reserve policy. Page 14
an ORANGEFIELD PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland RISK REVIEW A review of major risks has been undertaken by the Trustees and systems and procedures are being implemented to manage 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 member5. We have agreed a Risk Management Policy and have compiled a Risk Register to ensure that these risks are mitigated by the Trustees and the Congregational Committee, regularly monitoring the various activitie5 of the congregation at stated meetings and by encouraging members in their regular giving. Approved by the Klrk Session at a meeting on 10 June 2024 and Signed on its behalf by [Namel [Name] [Date] IDate] IC) J Page 15