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2022-12-31-annual-report

Belmont Presbyterian Church a congregation of the Presbyterian Church in Ireland

Trustees Annual Report and Financial Statements For the year ended 31 December 2022

Registered with the Charity Commission for Northern Ireland NIC104541

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TRUSTEES ANNUAL REPORT

The Trustees present their Annual Report and Financial Statements for the year ended 31 December 2022 including a Balance Sheet as at that date.

REFERENCE AND ADMINISTRATIVE DETAILS

Belmont congregation of the Presbyterian Church in Ireland 94 Sydenham Avenue

Belfast BT4 2DT

Registered Charity in Northern Ireland (NIC104541)

CHARITY TRUSTEES

The Charity Trustees who served during the year or who were trustees at the date of this report were:

Ronnie Calvert Caroline McCollum Martin Coburn Steven McCracken Patricia Coburn Sylvia McCracken Nigel Craig Fred McKee Pamela Elliott Ken Porter Mary Rose Gibson Andrew Sherrard Aureol Rintoul Debbie Thompson Christopher Steele Bruce McCormack Clifford Lowry Marion Thompson Janice Lowry Karen Watson Dermot Mackie Thomas J Stothers

PRINCIPAL OFFICE BEARERS

Minister (Convener) Clerk of Session Treasurer (Acting)

Rev Jim Stothers Christopher Steele J S M Rountree

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TRUSTEES ANNUAL REPORT (cont’d)

INDEPENDENT EXAMINER

Allen Fleming & Co 161 – 163 Upper Lisburn Road Belfast BT10 0LJ

BANKERS

Ulster Bank Ltd Arches Retail Park Connswater Belfast BT5 4AF

SOLICITORS

Crawford Lockhart Black Solicitors 7-11 Linenhall Street Belfast BT2 8AA

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TRUSTEES ANNUAL REPORT (cont’d)

STRUCTURE AND MANAGEMENT

The Kirk Session

The charity trustees of the congregation are the members of its Kirk Session. Under the 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 minister and the ruling elders of the congregations. 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 held on the third Tuesday of every month except July and August. However, during the Covid-19 Pandemic these were on an ad-hoc basis, often via Zoom Meeting, as routine business or public health advice needed discussed.

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 votes cast.

Presbytery

Under the Presbyterian Church in Ireland form of governance the corporate oversight of a 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. Belmont 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, minsters who have retired from active duty and an elder appointed by the Kirk Session of each congregation.

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TRUSTEES ANNUAL REPORT (cont’d)

The General Assembly

The General Assembly is the supreme court of the Church, representing in one body the whole Church and acting as its supreme legislative, administrative and judicial authority, in dealing with all matters brought before it. The General Assembly is normally constituted during the first week in June for worship and to conduct its business. At the end of business it is dissolved. The membership of the General Assembly consists mainly of the active ministers of each congregation, retired minsters and a representative elder appointed by the Kirk Session of each congregation.

DESCRIPTION AND PURPOSE

Belmont 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.

The congregation’s mission is to connect with God, to connect with others, and to connect others with God, through the love of Jesus Christ.

The Congregation aims to live out its Mission and Vision as a family of God’s people by being:

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TRUSTEES ANNUAL REPORT (cont’d)

ACTIVITIES AND OBJECTIVES

The congregation meets for worship every Sunday at 10.30am and on certain Sunday evenings at 7.00pm throughout the year for short courses. All visitors are welcome to join. The Sacrament of the Lord’s Supper is observed approximately 9 times during the year and all those who have been baptised and who have made a 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 organisations including:

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TRUSTEES ANNUAL REPORT (cont’d)

ACHIEVEMENTS AND PERFORMANCE

Worship and prayer

Following the Covid-19 Pandemic, our services were held on Sunday mornings in-person. We do not hold weekly Sunday evening services, but instead hold short courses on various occasions throughout the year. Various Bible study groups met throughout the year, including a Lent series and we also continued following the ‘Love Your Church’ book in different cohorts.

The average attendance at in-person morning services is 125, and evening services 25.

Pastoral care

At Belmont we believe it is the role of every member to pastorally care for others. For members who are sick or no longer able to attend church, they are regularly visited by either the Minister, the Pastoral Care Co-Ordinator, Elders, Youth worker or someone from our team of ‘congregational visitors’.

Communication

Our ‘Weekly Round Up’ email is sent to members each week so as to keep them up to date with recent activities and upcoming services and events. We also continue to maintain a website and Facebook page. Our weekly announcements are contained in our order of service and displayed on overhead screens at each service.

Mission and Outreach

At Belmont, we support ‘The Larder’ food bank throughout the year and Christian Aid annually. We show an active interest in Scripture Union and Open Doors (for Persecuted Christians). The Presbyterian Women raise money and support the Mission programme of the PW centrally and the Youth and Children’s ministry regularly support the charity ‘Stand by Me.’

The Ferguson Memorial Fund considers and distributes funds annually to a range of charitable purposes who apply under the Trust Deed.

Our usual Christian Aid Lunch (after the morning service) and door-to-door collection in the streets close to church had not yet resumed – instead we offered people the opportunity to

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give via a dedicated online website or through Christian Aid Envelopes available from the church and raised £1,725.

In June, the congregation held a nationally registered Platinum Jubilee Picnic in the grounds of the church with the aim to encourage members and local residents a safe place to come and celebrate this milestone together. A week later we resumed our annual garden fete; the first time since the pandemic. This was a great opportunity to open our grounds and buildings to our local community; hosting a silver band, activities for kids, selling everything from bric-a-brac to garden plants whilst at the same time raising funds for our property and showcasing all the church has to offer.

Our regular summer Holiday Bible Club resumed this year which was open to both children from the church and the surrounding area. We welcomed 21 children to the club as well as providing leadership training opportunities to two young people who helped plan and lead various aspects of the club under the guidance of the Children, Youth and Family Coordinator.

The church again opened it’s gates holding Community Carol Singing evening, just before Christmas, having advertised the event by way of a local area leaflet drop. The evening was well attended and those present shared in singing much loved carols whilst enjoying seasonal drinks and snacks.

We again supported the Belfast City Mission Christmas Toy Appeal, whereby members donated Christmas gifts which were then delivered to BCM for onward distribution to those less fortunate.

The congregation continues to support the PCI’s United Appeal for Mission. The United Appeal for Mission is at the very heart of the Presbyterian Church in Ireland. Every aspect of the Church's mission depends to some extent on United Appeal. It supports projects, programmes and staff at home and overseas. It helps congregations and individuals to build God’s Kingdom through youth and children’s ministry, social action and the training of leaders.

Presbytery

The congregation was represented at the regular meetings of Presbytery by our vacancy convener and / representative elder. This provides an important link between the congregations and the wider structures of the church.

General Assembly

The vacancy convener and one of our elders attended the meeting of the General Assembly of the Presbyterian Church in Ireland held in Assembly Buildings, Belfast, in June; taking part

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in discussions, debate and decision-making. Minutes of the General Assembly are available on the PCI website.

Property

Church Property consists of the church sanctuary and halls, the manse which is situated in the grounds beside the church, a house at 11 Norwood Drive and a Gate Lodge at 96, Sydenham Avenue.

No Substantial works were carried out during the year on any of these properties. However ongoing maintenance was carried out throughout the year.

TRUSTEES ANNUAL REPORT (cont’d)

Organisations

Volunteers

The Trustees wish to acknowledge their deep appreciation of those who give freely of their time by serving on committees and helping with organizations and other church activities.

TRUSTEES ANNUAL REPORT (cont’d)

PUBLIC BENEFIT STATEMENT

The Presbyterian Church in Ireland meets the public benefit requirement by providing benefit to its 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 (the Westminster Confession of Faith and the Shorter and Larger Catechisms) leading to spiritual and moral development and opportunities for response to Bible teaching. In turn, this framework leads to practical expressions of Christian beliefs and standards in the local community such as through the care of those in need (including 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. Local delivery is facilitated by central resources in almost all cases. Public access is made known through the use of noticeboards, printed material, press advertisement, websites, and social media or in other ways.

The benefits are demonstrated through regular evaluation of the services 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 families, other individuals that the Presbyterian Church 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.

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TRUSTEES ANNUAL REPORT (cont’d)

FINANCIAL REVIEW

The congregation’s main source of income is members’ contributions through the Weekly Freewill Offering. There were 215 contributors during the year (2021 – 234 contributors) donating a total of £169,086 (2021 - £199,425).

Total Income of the congregation during the year was £236,466 compared to £252,036 in the previous year. (The main reason for the change was due to a decrease in the number of members contributing and the phasing out of the funding from the Government Job Retention Scheme).

Total expenditure of the congregation during the year was £227,359 compared to £228,345 in the previous year. (The main reason for the change was due to savings incurred from fewer staff as well as a reduction of expenditure on repairs and maintenance of property).

RESPONSIBILITIES IN RESPECT OF THE FINANCIAL STATEMENTS

The Trustees are responsible for preparing the Charity Commission 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:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the funds transactions and disclose with reasonable accuracy at any time the financial position of the congregations and enable them to ensure that the financial statements comply with the Statement of Recommended Practice “Accounting and Reporting by Charities (1 January 2015)”. They are also responsible for safeguarding the assets of the congregation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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BELMONT PRESBYTERIAN CHURCH IN IRELAND

TRUSTEES ANNUAL REPORT (cont’d)

ANNUAL REPORT

For the year ended 31 December 2022

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 ongoing basis, the congregation’s current activities and other financial commitments.

RESERVES POLICY

The Trustees have considered the level of unrestricted reserves that is appropriate to hold, taking account of current and ongoing commitments. It is the policy of the Trustees to hold at least one month’s normal expenditure in reserves on the assumption that the congregation will continue to maintain its financial support. At the year- end, unrestricted reserves comprising Cash and Investments amounted to £50,888 (2021 – £43,580).

RISK REVIEW

A review of major risks has been undertaken by the Trustees and systems and procedures 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 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 22/10/23 and signed on its behalf by

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Rev William Harkness Minister (Moderator of Kirk Session)

Mr Christopher Steele Clerk of Session

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QUALIFIED INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF BELMONT CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAN

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

STATEMENT OF FINANCIAL ACTIVITY For the year ended 31 December 2022

Notes Unrestricted
Funds		 Restricted
Funds		 Endowment
Funds		 Total Funds
2022		 Total Funds
2021
£ £ £ £ £
Income and Endowments from:
Donations and legacies 2 151,843 17,243 0 169,086 199,425
Charitable activities 3 2,940 20,815 0 23,755 9,720
Other trading activities 4 1,260 0 0 1,260 225
Investments 5 20,983 11,913 0 32,896 26,200
Other 6 8,884 585 0 9,469 16,466
---------- ---------- ---------- ---------- ----------
Total 185,910 50,556 0 236,466 252,036
---------- ---------- ---------- ---------- ----------
Expenditure on:
Raising funds 7 0 0 0 0 485
Charitable activities 8 178,602 47,108 0 225,710 222,273
Other 9 0 1,649 0 1,649 1,587
---------- ---------- ---------- ---------- ----------
Total 178,602 48,757 0 227,359 228,345
---------- ---------- ---------- ---------- ----------
Net gains/(losses) on investments 0 0 (38,926) (38,926) 31,442
---------- ---------- ---------- ---------- ----------
Net Income / (expenditure) 7,308 1,799 (38,926) (29,819) 55,133
Transfers between funds 0 0 0 0 0
Gains/(losses on revaluation of fixed 0 0 0 0 0
assets
----------- ---------- ---------- ------------ ----------
Net movement in funds 7,308 1,799 (38,926) (29,819) 55,133
Reconciliation of funds:
Total funds brought forward 43,580 508,902 546,277 1,098,759 1,043,626
---------- --------- ---------- ------------- ----------
Total funds carried forward 50,888 510,701 507,351 1,068,940 1,098,759
====== ====== ====== ======= ======

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland BALANCE SHEET

As at 31 December 2022

ALANCE SHEET
s at 31 December 2022
Notes Unrestricted
Funds		 Restricted Funds Endowment
Funds		 Total Funds 2022 Total Funds 2021
£ £ £ £ £
Fixed assets:
Tangible assets 12 0 463,698 0 463,698 479,893
Heritage assets 0 0 0 0 0
Investments 13 0 0 507,351 507,351 546,277
-------- ---------- ---------- ---------- ----------
Total fixed assets 0 463,698 507,351 971,049 1,026,170
-------- ---------- ---------- ---------- ----------
Current assets
Debtors 14 0 0 0 0 0
Current Investments 0 0 0 0 0
Cash at bank and in hand 15 50,888 83,539 0 134,427 120,102
-------- ---------- ---------- ---------- ----------
Total current assets 50,888 547,237 507,351 1,105,476 1,146,272
-------- ---------- ---------- ---------- ----------
Liabilities:
Creditors: Amounts falling due 16 0 12,626 0 12,626 12,300
within one year
-------- ---------- ---------- ---------- ----------
Net current assets or liabilities 50,888 534,611 507,351 1,092,850 1,133,972
-------- ---------- ---------- ---------- ----------
Total assets less current
liabilities
Creditors: Amounts falling due 17 0 23,910 0 23,910 35,213
after more than one year
Provisions for liabilities
-------- ---------- ---------- ---------- ----------
Total net assets or liabilities 50,888 510,701 507,351 1,068,940 1,098,759
===== ======= ======== ========= ========

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

BALANCE SHEET

As at 31 December 2022

ALANCE SHEET
s at 31 December 2022
Note Unrestricted
Funds		 Restricted Funds Endowment
Funds		 Total Funds 2022 Total Funds 2021
£ £ £ £ £
Funds of the charity
Restricted income funds 18 0 510,701 303,844 814,545 842,760
Unrestricted funds 18 50,888 0 203,507 254,395 255,999
---------- ------------ ---------- ------------ ----------
Total charity funds 50,888 510,701 507,351 1,068,940 1,098,759
====== ======= ======= ========= =======

Approved by the Kirk Session at a meeting on …………………………. 2023 and signed on its behalf by

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_____ ____
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Rev William Harkness Minister (Moderator of Kirk Session)

Mr Christopher Steele Clerk of Session

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS

31 December 2022

1. ACCOUNTING POLICIES

BASIS OF FINANCIAL STATEMENTS

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Ireland (FRS102) (effective 1 January 2015).

The financial statements have been prepared under the historical cost convention except for investment assets, which are shown at market value. The financial statements include all transactions, assets and liabilities for which the congregation is responsible in law. They do not include the accounts of church groups that owe their affiliation to another body, nor those that are informal gatherings of church members.

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.

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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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS

31 December 2022

1. ACCOUNTING POLICIES (cont’d) INCOMING RESOURCES

(i) Recognition of incoming resources

These are included in the Statement of Financial Activities (SoFA) when:

(ii) Incoming resources with related expenditure

Where incoming resources have related expenditure (as with fundraising income) the incoming resources and related expenditure are reported gross in the SoFA.

(iii) Grants and donations

Grants and donations are only included in the SoFA when the congregation has unconditional entitlement to the resources.

(iv) Tax reclaims on donations and gifts

Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to which they relate.

(v) Contractual income and performance related grants

This is only included in the SoFA once the related goods or services have been delivered.

(vi) Gifts in kind

Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SoFA as incoming resources when receivable.

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS

31 December 2022

1. ACCOUNTING POLICIES (cont’d)

(vii) Donated services and facilities

These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.

(viii) Volunteer help

The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.

(ix) Investment income

This is included in the accounts when receivable.

(x) Investment gains and losses

This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

EXPENDITURE AND LIABILITIES

(xi) Liability recognition

Liabilities are recognised as soon as there is a legal or constructive obligation committing the congregation to pay out resources.

(xii) Governance costs

These are shown within charitable activities and include the costs of preparation and examination of accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters.

(xiii) Grants with performance conditions

Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output.

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS

31 December 2022

1. ACCOUNTING POLICIES (cont’d)

(xiv) Grants payable without performance conditions

These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity .

ASSETS

(xv) Tangible Fixed Assets

Tangible fixed assets for use by charity are capitalised if they represent major capital improvements with a commensurately long life. They are valued at cost or, if gifted, at the value to the Church on receipt. Recurring maintenance or repair costs on buildings and other equipment is not capitalised and is written off in the SoFA

Depreciation is recorded on all tangible fixed assets other than freehold land, at rates calculated to write of the cost, less estimated residual value, of each asset over its expected useful life as follows

Buildings & major refurbishment: - over 50 years Major fixtures, fittings and equipment - over 25 years

(xvi) Investments

Investments which are quoted on a recognised stock exchange are valued at market value at the year end. It is our policy to place all endowments into quoted investments on the recommendation of Stockbrokers.

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS (cont’d)

31 December 2022

2. DONATIONS AND LEGACIES

Unrestricted
Funds		 Restricted
Funds		 Endowment
Funds		 Total Funds
2022		 Total Funds
2021
£ £ £ £ £
Recorded giving: 122,172 13,000 0 135,172 141,684
Loose collections 1,101 0 0 1,101 2,395
Donations and gifts 0 142 0 142
350
Gift Aid 23,570 4,101 0 27,671 31,996
Legacies and bequest 5,000 0 0 5,000 23,000
---------- ---------- -------- ---------- ----------
151,843 17,243 0 169,086 199,425
---------- ---------- -------- ---------- ----------
.
CHARITABLE ACTIVITIES
Unrestricted
Funds		 Restricted
Funds		 Endowment Funds Total Funds
2022		 Total Funds
2021
£ £ £ £ £
Income from charitable activities 0 14,055 0 14,055 3,862
Fees from weddings and funerals 2,940 0 0 2,940 385
Membership fees 0 0 0 0 0
Fundraising events 0 6,760 0 6,760 554
Grants - Gov’t Job Retention Sch 0 0 0 0 4,919
---------- ---------- ---------- ---------- ----------
2,940 20,815 0 23,755 9,720
---------- ---------- ---------- ---------- ----------

3. CHARITABLE ACTIVITIES

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS (cont’d)

31 December 2022

4. OTHER TRADING ACTIVITIES

Unrestricted
Funds		 Restricted
Funds		 Endowment Funds Total Funds
2022		 Total Funds
2021
£ £ £ £ £
Letting of premises 1,260 0 0 1,260 225
---------- ---------- ---------- ---------- ----------
1,260 0 0 1,260 225
---------- ---------- ---------- ---------- ----------
. INVESTMENTS
Unrestricted
Funds		 Restricted
Funds		 Endowment Funds Total Funds
2022		 Total Funds
2021
£ £ £ £ £
Deposit interest 0 0 0 0 0
General Investment Fund 7,113 11,913 19,026 16,960
Property Rents 13,870 0 0 13,870 9,240
Other investment income 0 0 0 0 0
---------- ---------- ---------- ---------- ----------
20,983 11,913 0 32,896 26,200
---------- ---------- ---------- ---------- ----------

5. INVESTMENTS

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS (cont’d)

31 December 2022

6. OTHER INCOME

Unrestricted
Funds		 Restricted Funds Endowment
Funds		 Total Funds
2022		 Total Funds
2021
£ £ £ £ £
Other income 8,884 585 0 9,469 16,466
---------- ---------- ---------- ----------
----------
8,884 585 0 9,469 16,466
---------- ---------- ---------- ----------
----------
. COST OF RAISING FUNDS
Unrestricted
Funds		 Restricted Funds Endowment
Funds		 Total Funds 2022 Total Funds 2021
£ £ £ £ £
FWO envelopes 0 0 0 0 485
Fundraising events 0 0 0 0 0
---------- --------- --------- ---------- ----------
0 0 0 0 485
---------- --------- --------- ---------- ----------
-

7. COST OF RAISING FUNDS

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS (cont’d)

31 December 2022

8. CHARITABLE ACTIVITIES

Unrestricted
Funds		 Restricted
Funds		 Endowment Funds Total Funds
2022		 Total Funds
2021
£ £ £ £ £
General Assembly Assessments 22,909 7,108 0 30,017 32,490
Presbytery fees 889 0 0 889 928
Ministry and support staff costs 72,951 142 0 73,093 92,331
Congregational running expenses 56,798 20,087 0 76,885 67,775
Donations to Missions and 0 17,842 0 17,842 8,605
charities
Governance costs 794 0 0 794 2,430
Repairs & Maintenance 24,261 1,929 0 26,190 21,714
---------- ---------- ------- ---------- --------
178,602 47,108 0 225,710 226,273
---------- ---------- -------- ---------- --------
.
OTHER EXPENDITURE
Unrestricted
Funds		 Restricted
Funds		 Endowment Funds Total Funds
2022		 Total Funds 2021
£ £ £ £ £
Investment of Legacies 0 0 0 0 0
Ulster Bank Loan charge 0 1,649 0 1,649 1,587
---------- ---------- ---------- ---------- ----------
0 1,649 0 1,649 1,587
---------- ---------- ---------- ---------- ----------

9. OTHER EXPENDITURE

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS (cont’d) 31 December 2022

10. EMPLOYEES

Employment Costs

Total Funds
2022		 Total Funds
2021
£ £
Wages and Salaries 67,425 75,053
Social Security Costs 3,073 6,494
Pension contributions 2,403 10,784
---------- -------
72,901 92,331
======= ======
umber of Employees
he average number of employees, including the minister of the congregation, during the
ear was
Total Funds
2022		 Total Funds 2021
Nos Nos
Average number of employees 4 5
==== ====

Number of Employees

The average number of employees, including the minister of the congregation, during the year was

There were no employees in receipt of employee benefits in excess of £60,000.

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS (cont’d)

31 December 2022

11. 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 employer’s pension contribution for the Scheme and based on the stipend paid to the minister. The Presbyterian Church in Ireland Pension Scheme (2009) is a funded Scheme of the defined benefit 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 salaries to cover the accrual of benefits for future service, expenses, the cost of insuring death in service benefits and funding the scheme deficit.

The contributions made by the congregation during the year were

Contributions

£ £ 833 9,993

The congregation operates a defined contribution pension scheme for its employees. The scheme and its assets are held by an independent scheme manager. The pension charge represents the contributions due from the congregation during the year

£ £ Contributions 1,570 791

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS (cont’d)

31 December 2022

12. TANGIBLE FIXED ASSETS

Land &
Buildings		 Fixtures and Fittings Vehicles Total
£ £ £ £
Cost or valuation
At start of year 684,779 0 0 684,779
Additions 0 0 0 0
Disposals 0 0 0 0
---------- -------- ---------- ----------
At end of year 684,779 0 0 684,779
---------- -------- ---------- ----------
Depreciation
At start of year 204,886 0 0 204,886
Provision for year 16,196 0 0 16,196
Disposals 0 0 0 0
---------- -------- ---------- ----------
At end of year 221,082 0 0 221,082
---------- -------- ---------- ----------
Net Book Value
At start of year 479,893 0 0 479,893
---------- -------- ---------- ----------
At end of year 463,697 0 0 463,697
====== ====== ====== =======

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS (cont’d)

31 December 2022

Accounts at the net book value and is being depreciated over 50 years. The latter has been owned by the Church for over 50 years and is being treated as being fully depreciated.

13. INVESTMENTS

2022 2021
£ £
General Investment Fund 507,351 546,277
Investment Properties 0 0
---------- ----------
546,277 546,277
====== ======
2022 2021
£ £
Value at start of year 546,277 514,835
Additions 0 0
Disposals 0 0
Impairment 0 0
Gains / (Losses on revaluation) 31,442
(38,926)
---------- ----------
Value at end of year 507,351 546,277
======= =======

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS (cont’d) 31 December 2022

14. DEBTORS

2022 2021
£ £
Gift Aid Recoverable 0 0
---------- ----------
0 0
====== ======
15. CASH AT BANK AND IN HAND
2022 2021
£ £
U B No 1 a/c – General Unrestricte 50,888 43,580
U B No 1 a/c – General Restricted (4,413)
(4,413)
U B No 2 a/c – Clearing 0 0
U B No 3 a/c - Property 49,492 43,575
Ferguson Memorial Fund 243 257
In – House Organisations 25,876 23,716
Ext- House Organisations 12,342 13,387
----------- ---------
Total 134,428 120,102
======== =======
16. CREDITORS: amount falling due within one year
2022 2021
£ £
Ulster Bank Loan 12,625 12,300
---------- ----------
12,300 12,300
====== ======

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS (cont’d)

31 December 2022

17. CREDITORS: amount falling due after more than one year

2022 2021
£ £
Ulster Bank Loan 20,910 32,213
Interest Free Loan 3,000 3,000
---------- ----------
23,910 35,213
====== ======

18. FUND BALANCES AND RECONCILIATION OF FUNDS

Fund Balance at
Income/		 Expend Gains/ Transfer Balance at
start Gains Losses end
£ £ £ £ £ £
Unrestricted Funds
General Fund 43,580 185,910 178,602 0 0 50,888
---------- ---------- ---------- ---------- ---------- ----------
Sub - total 43,580 185,910 178,602 0 0 50,888
---------- ---------- ---------- ---------- ---------- ----------
Restricted Funds
General Fund (97,588) 8,650 24,845 0 0 (113,783)
Others 606,490 41,906 23,912 0 0 624,484
----------- ----------- ----------- ----------- ---------- ------------
Sub - total 508,902 50,556 48,757 0 0 510,701
------------ ----------- ----------- ----------- ---------- ------------
Endowment Funds
Unrestricted 212,419 0 0 (8,912) 0 203,507
Restricted 333,858 0 0 (30,014) 0 303,844
------------- ----------- ------------ ----------- ---------- ------------
Sub-total 546,277 0 0 (38,926) 0 507,351
------------- ------------- ------------- ----------- ----------- --------------
Grand Total 1,098,759 236,466 227,359 (38,926) 0 1,068,940
========= ======= ======= ======= ======= ========

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS (cont’d) 31 December 2022

19. RELATED PARTY TRANSACTION

One of the Trustees, the minister of the congregation received remuneration of £3,470 and expenses of £532 for acting in that capacity. Pension contributions of £832 were paid by the congregation in respect of the minister to the Presbyterian Church in Ireland Pension Scheme (2009). Two other trustees, the Convenor & the Pastoral Support Worker received remuneration of £7,121 & £10,157 respectively during the year in connection with their duties.

During the year the congregation contributed the following amounts to Funds of the General Assembly of the Presbyterian Church in Ireland a separate charity

£16,006 for congregational assessments £14,011 towards the United Appeal £2,175 toward the World Development Appeal £6,019 towards Moderator’s Appeal £800 towards Presbyterian Orphan & Children Society

The congregation contributed £889 towards Presbytery Assessments during the year

There were no other related party transactions.

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