Presbyter
an
CREGAGH PRESBYTERIAN CHURCH
a Congregation of The Presbyterian Church In Ireland
STATEMENT OF FINANCIAL ACTIVITY
for the year ended 31 December 2022
Income and Endowments from..
Donations and legacies
Charitable activities
Investments
108,488
94,049
2,665
260
202,537
2,665
334
223,740
3,324
325
74
Total
108,562
96,974
205,536
227,389
Expenditure on:
Charitable activities
(110,6291 {80,7951 (191,424) 1174,729)
Total
{110.629) (80,795) 1191,424) (174,7291
Net Income l (expenditure)
(2,067)
16,179
14,112
52,660
Transfers between funds
{33,856}
33,856
Net movement in funds
Reconciliation of funds:
Total funds brought forward
164,712 1,766,361 1,931,073 1,878,413
Total funds carrled forward
128,789 1,816,396 1,945,185 1,931,073
131 Page

an
CREGAGH PRESBYTERIAN CHURCH
a Congregation of The Presbyterian Church In Ireland
BALANCE SHEET
As at 31 December 2022
Fixed assets:
Tangible assets
1,763,404
1.763,404
1,763,735
Investments
Total fixed assets
1,763,404
1,763,404
1,763,735
Current assets
Debtors
4,147
2,278
6,425
8,269
Cash at bank and in hand
io
129,871
50,714
180,585
207,985
Total current assets
134.018
52,992
187,010
216,254
Llabilities:
Creditors: Amounts falling due within 11
one year
15,229)
{5,2291
148,916)
Net current assets or Ilabilities
128,789
52,992
181,781
167,338
Total assets less current liabilities
128,789
1,816,396
1,945,185
1,931,073
Creditors: Amounts falling due after
more than one year
12
Total net assets or Ilabilities
128,789
1,816,396
1,945,185
1,931,073
14 | Page

Presbyter
an
CREGAGH PRESBYfERIAN CHURCH
a Congregation of The Presbyterian Church In Ireland
BALANCE SHEET (cont.}
As at 31 December 2022
Funds of the charity
Restricted income funds
13
1,816.396
1,816,396
1,766,361
Unrestricted funds
13
128,789
128,789
164,712
Total cbarity funds
128,789
1,816,396
1,945,R85
1,931,073
Approved by Kirk Session on 16 May 2023 and signed on its behalf by:
.L CLLL
Michael R. Graham
16 May 2023
W. Gordon Dunlop
16 May 2023
151 Page

Presbyter
an
CREGAGH PRESBYfERIAN CHURCH
a Congregation of The Presbyterian Church In Ireland
NOTES TO THE ACCOUNTS
31 December 2022
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 l 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 (bl 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.
161 Page

Presbyter
an
CREGAGH PRESBYfERIAN CHURCH
a Congregation of The Presbyterian Church In Ireland
NOTES TO THE ACCOUNTS
31 December 2022
ACCOUNTING POUCIES(conVdl
INCOMING RESOURCES
Recognition of incoming resources
These are included in the Statement of Financial Activities (SOFA) when:
the congregation becomes entitled to the resources;
the trustees are virtually certain they will receive the resources; and
the monetary value can be measured with sufficient reliably.
(li) 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 reclalms 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
Gift5 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.
171 Page

Presbyter
an
CREGAGH PRESBYTERIAN CHURCH
a Congregation of The Presbyterian Church In Ireland
NOTES TO THE ACCOUNTS
31 December 2022
ACCOUNTING POLICIES (cont'd)
(vil) 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 losse5
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 LIABIUTIES
(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 and the 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 seniice or output.
181 Page

Presbyter
an
CREGAGH PRESBYfERIAN CHURCH
a Congregation of The Presbyterian Church In Ireland
NOTES TO THE ACCOUNTS
31 December 2022
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 condition5 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 can be used for more than one
year, and cost at least £2,500. They are valued at cost or, if gifted, at the value to the charity
on receipt.
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:
Fixtures, fittings and equipment
Computers, software and technical equipment
- over 50 years
- over 10 years
over 4 years
(xvi) Investments
Investments quoted on a recognised stock exchange are valued at market value at the year
end. Other investment assets are included at trustees 'best estimate of market value.
191 Page

Presbyter
an
CREGAGH PRESBYfERIAN CHURCH
a Congregation of The Presbyterian Church In Ireland
NOTES TO THE ACCOUNTS (cont'd)
31 December 2022
2.DONATIONS AND LEGACIES
Weekly Freewill Offering
Loose and Special Collections
Donations and Gifts
Gift Aid
Legacies and Bequests
Organisations
Missions & Charities Funds
87,659
1,338
3,419
16,072
32,268
4,452
2,425
7,609
4,810
4,177
38,308
119,927 124,185
5,790
5,461
5,844
25,292
23,681
25,956
4,810
3,470
4,177
1,497
38,308
37,879
108,488
94,049
202,537 223,740
3.CHARITABLE AcfiviTIES
Income from charitable activities
Fundraising events
2,665
2,665
697
Grants
2,627
2,665
2,665
3,324
201 Page

Presbyter
an
CREGAGH PRESBYTERIAN CHURCH
a Congregation of The Presbyterian Church In Ireland
NOTES TO THE ACCOUNTS (cont'd)
31 December 2022
4. INVESTMENTS
Deposit interest
General Investment Fund
Property Rents
Other investment income
74
260
334
325
74
260
334
325
5. CHARITABLE ACTIVITIES
General Assembly Assessments
Minister's stipend
Ministry and support staff costs
Congregational running expenses
Donations to Missions & Charities
Governance costs
Depreciation
24,694
36,893
24,267
22,948 15,667
34,471
24,694
36,893
24,267
38,615
34,471
1,827
30,657
24,887
36,081
24,745
27,199
30,518
1,827
29,472
1,827
30,657
110,629
80,795
191,424
174,729
211 Page

Presbyter
an
CREGAGH PRESBYTERIAN CHURCH
a Congregation of The Presbyterian Church In Ireland
NOTES TO THE ACCOUNTS {cont'd)
31 December 2022
6.EMPLOYEES
Employment Costs
Wages and Salaries
Social Security Costs
Pension contributions
52,733
4,977
8,854
52,945
4,622
8,659
66,564
66,226
Number of Employees
The average number of employees, including the minister of the congregation, during the year was:
Average number of employees
There were no employees in receipt of employee benefits in excess of £60,000.
221 Page

Presbyter
an
CREGAGH PRESBYTERIAN CHURCH
a Congregation of The Presbyterian Church In Ireland
NOTES TO THE ACCOUNTS (cont'd)
31 December 2022
7.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 re-valued 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 seniice benefits and funding the scheme deficit.
The contributions made by the congregation during the year were
Contributions
8,853
8,659
The Congregation has two part-time employees lan organist and a church officer) neither of whom
qualify for automatic enrolment into a workplace pension scheme. Both have been offered pension
scheme membership but both have declined.
231 Page

Presbyter
an
CREGAGH PRESBYfERIAN CHURCH
a Congregation of The Presbyterian Church In Ireland
NOTES TO THE ACCOUNTS (cont'd)
31 December 2022
8. TANGIBLE FIXED ASSETS
Cost or valuation
At start of year
Additions
1,475,727
365,000
11,424
30,326
1,852,151
30,326
At end of year
1,475,727
365,000
41,750
1,882,477
Depreciation
At start of year
Provision for year
Disposals
188,416)
{29,5151
188.416)
{30,6571
(1,1421
At end of year
{117,931)
11,1421
{119.0731
Net Book Value
At end of year
1,357,796
365,000
40,608
1,763,404
At start of year
1,387,311
365,000
11,424
1,763,735
During the year, capital expenditure of £27,589 was incurred in upgrading the AV system and £2,737
spent on a new risograph. The redevelopment of the church building was completed in 2018.
Depreciation lat 2Yol has been applied from l January 2019. The provision for depreciation has been
increased in line with capital expenditure incurred in 2021. principally on the refurbishment of the
church kitchen.
No depreciation has been applied to the manse property which 15 subject to regular maintenance to
maintain its value (£365,000). The residual value is considered to be at least equal to the carrying
valuation.
241 Page

Presbyter
an
CREGAGH PRESBYfERIAN CHURCH
a Congregation of The Presbyterian Church In Ireland
NOTES TO THE ACCOUNTS (cont'd)
31 December 2022
9.DEBTORS
2022
2021
Gift Aid Recoverable
VAT Recoverable
Other
4,859
6,278
417
1,567
1,574
6,426
8,269
10. CASH AT BANK AND IN HAND
2022
2021
Current account
Cash in hand
180,585
207,985
180,585
207,985
11. CREDITORS: amounts falling due within one year
2022
2021
Building retention
Bank loan
Other Creditors and Accruals
44,381
4,535
5,230
5,230
48,916
251 Page

an
CREGAGH PRESBYfERIAN CHURCH
a Congregation of The Presbyterian Church In Ireland
NOTES TO THE ACCOUNTS (convd)
31 December 2022
12. CREDITORS: amounts falling due after more than one year
2022
2021
Bank loan
13. FUND BALANCE5 AND RECONCILIATION OF FUNDS
Balance at
start
Income
Expend.
Transfer
Balance at
end
Unrestricted Funds
General Fund
Development Fund
97,205
67,507
108,562
110,629
95,138
33,651
(33,856)
164,712
108,562
110,629
133,8561
128,789
Restricted Funds
Renovation Fund
Property/Building Fund
Mission & Charitie5 Funds
Organisational Funds
Manse Fund
1,119,768
262,984
15,552
3,057
365,000
260
54,229
38,308
4,177
30,890
11,704
34,471
3,730
60,048
(26,1921
1,149,186
279,317
19,389
3,504
365,000
1,766,361
96,974
80,795
33,856
1.816,396
Total Funds
1,931.073
205,536
191,424
1,945,185
261 Page

Presbyter
an
CREGAGH PRESBYfERIAN CHURCH
a Congregation of The Presbyterian Church In Ireland
NOTES TO THE ACCOUNTS (cont'd)
31 December 2022
14. RELATED PARTY TRANSAcfioN
One of the Trustees, the minister of the congregation, who was appointed minister in September
2018, received remuneration of £ 36,893 and expenses of £ 6,977 for acting in that capacity. Pension
contributions of £ 8,853 were 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 or expenses 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.
£ 24,694 for congregational assessments (includes above pension contribution).
£ 10,000 toward5 the United Appeal.
£ 1,000 towards the World Development Appeal.
£ 500 towards the Children's Society.
The congregation contributed £ 771 in respect of Presbytery fees during the year.
There were no other related party transactions.
271 Page