Magheramorne Congregation of the Presbyterian Church in Ireland
Financial Statements
Year Ended 31 December 2022
MAGHERAMORNE PRESBYTERIAN CHURCH
a Congregation of The Presbyterian Church in Ireland
STATEMENT OF FINANCIAL ACTIVITY (Receipts & Payments Account) for the year ended 31 December 2022
| Note Income and Endowments from: Donations and legacies 2 Charitable activities 3 Other trading activities 4 Investment income 5 Other 6 Total Receipts Expenditure On: Raising funds 7 Charitable activities 8 Other 9 Total Payments Net income/(expenditure) Transfers between funds Net movement in funds Reconciliation of Funds: Total funds brought forward Total funds carried forward 10 |
Unrestricted Funds Restricted Funds Total Funds 2022 Total Funds 2021 £ £ £ £ 36,699 10,595 47,294 40,002 135 1,087 1,222 300 6,800 1,239 8,039 5,870 - - - - 8,181 - 8,181 31 |
|---|---|
| 51,814 12,921 64,735 46,203 |
|
| 405 129 534 489 27,644 40,456 68,100 24,574 - - - 1,391 |
|
| 28,049 40,585 68,634 26,454 |
|
| 23,765 (27,663) (3,899) 19,749 (13,519) 13,519 - - |
|
| 10,246 (14,145) (3,899) 19,749 35,884 22,084 57,969 38,119 |
|
| 46,130 7,940 54,070 57,869 |
MAGHERAMORNE PRESBYTERIAN CHURCH
a Congregation of The Presbyterian Church in Ireland
STATEMENT OF ASSETS AND LIABILITIES As at 31 December 2022
1. Fixed Assets
The Congregation owns the Church Premises situated at Ballylig Road, Magheramorne and the associated fixtures and fittings. These had an insurance value of £1,959,576 at the last renewal date. The Congregation also owns the Church Manse and the associated fixtures and fittings together with adjoining land. These had an insurance value of £225,372 at the last renewal date.
2. Investments
The Congregation has the following investments. Amounts shown at market valuation
| Other investments 3. Amounts Owed to the Congregation At the end of the year the following amounts were owed to the Congregation Loan 4. Cash and bank balances Current Account No.1 Current Account No.2 Cash (N1) Savings Account (N2) |
2022 2021 £ £ - - |
|---|---|
| - - |
|
| 2022 2021 £ £ - - |
|
| - - |
|
| 2022 2021 £ £ 37,163 37,740 12,265 17,665 2,802 79,519 79,422 |
|
| 131,749 134,827 |
N1: Now including cash held at organisation level N2: Increase in savings account is payment of interest from Danske Bank.
Approved by the Kirk Session at a meeting on 25 October 2023 and signed on their behalf by
Name Mr J M Gardner (Clerk of Session)
Name Mr N Graham (Treasurer)
MAGHERAMORNE PRESBYTERIAN CHURCH
a Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS 31 December 2022
1. ACCOUNTING POLICIES
BASIS OF FINANCIAL STATEMENTS
As the total income of the Congregation is less than £250,000 the congregation have elected, in accordance with the provisions in The Charities (Accounts and Report Regulations (Northern Ireland) 2015, to prepare the accounts on a receipts and payments basis.
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. 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.
2. DONATIONS AND LEGACIES
| 2. DONATIONS AND LEGACIES | |
|---|---|
| Recorded giving Loose collections Donations and gifts Gift Aid Legacies and bequests |
Unrestricted Funds Restricted Funds Total Funds 2022 Total Funds 2021 £ £ £ £ 31,417 - 31,417 29,937 426 205 631 1,100 507 9,806 10,313 8,966 4,349 584 4,933 - - - - |
| 36,699 10,595 47,294 40,002 |
MAGHERAMORNE PRESBYTERIAN CHURCH
a Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS (cont'd) 31 December 2022
3. CHARITABLE ACTIVITIES
| Income from charitable activities Other Organisational Income 4. OTHER TRADING ACTIVITIES Letting premises Fundraising events 5. INVESTMENT INCOME Deposit interest |
Unrestricted Funds Restricted Funds Total Funds 2022 Total Funds 2021 £ £ £ £ - - - 135 1,087 1,222 300 |
|---|---|
| 135 1,087 1,222 300 |
|
| Unrestricted Funds Restricted Funds Total Funds 2022 Total Funds 2021 £ £ £ £ 6,800 - 6,800 5,400 - 1,239 1,239 470 |
|
| 6,800 1,239 8,039 5,870 |
|
| Unrestricted Funds Restricted Funds Total Funds 2022 Total Funds 2021 £ £ £ £ - - - 8 |
|
| - - - 8 |
MAGHERAMORNE PRESBYTERIAN CHURCH
a Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS (cont'd) 31 December 2022
6. OTHER INCOME
| Wayleaves VAT Reclaim Dormant Account 7. RAISING FUNDS FWO envelopes Fundraising events 8. CHARITABLE ACTIVITIES General Assembly Assessments Presbytery fees Ministry and support staff costs Congregational running costs Donations to missions and charities Organisational expenditure 9. OTHER EXPENDITURE Other |
Unrestricted Funds Restricted Funds Total Funds 2022 Total Funds 2021 £ £ £ £ 12 - 12 31 3,600 - 3,600 4,568 - 4,568 |
|---|---|
| 8,181 - 8,181 31 |
|
| Unrestricted Funds Restricted Funds Total Funds 2022 Total Funds 2021 £ £ £ £ 405 - 405 416 - 129 129 73 |
|
| 405 129 534 489 |
|
| Unrestricted Funds Restricted Funds Total Funds 2022 Total Funds 2021 £ £ £ £ 3,423 - 3,423 3,048 367 - 367 367 2,606 - 2,606 6,579 18,979 29,497 48,476 8,149 1,919 7,991 9,910 4,857 350 2,968 3,318 1,575 |
|
| 27,644 40,456 68,100 24,574 |
|
| Unrestricted Funds Restricted Funds Total Funds 2022 Total Funds 2021 £ £ £ £ - - - 1,391 |
|
| - - - 1,391 |
MAGHERAMORNE PRESBYTERIAN CHURCH
a Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS (cont'd) 31 December 2022
10. FUND BALANCES
| Fund (i) Unrestricted Funds General Fund (ii) Restricted Funds United Appeal Christian Aid World Development Presbyterian Childrens Society Moderators Appeal Improvement Fund Organ Account Sunday School Account Presbyterian Women Flower Committee Account Dance Class Junior Christian Endeavour Account Mums & Tots Account Total Funds |
Balance at start Receipts Payments Surplus/ (Deficit) Transfer in/(out) Balance at end £ £ £ £ £ £ 35,884 42,846 28,049 14,797 (13,519) 37,162 |
|---|---|
| 35,884 42,846 28,049 14,797 (13,519) 37,162 |
|
| - 1,852 4,275 (2,423) 2,423 - - - - - - - 140 140 - - - - 110 300 (190) 190 - - 1,900 2,297 (398) 398 - 17,666 13,305 29,213 (15,908) 10,508 12,266 340 - 165 (165) 175 544 50 115 (65) 479 232 2,046 2,014 32 265 671 132 119 13 685 1,702 436 - 436 2,137 450 1,257 1,249 8 457 480 663 698 (35) 444 |
|
| 22,084 21,889 40,585 (18,695) 13,519 16,907 |
|
| 57,969 64,735 68,634 (3,899) - 54,069 |