Magheramorne Congregation of the Presbyterian Church in Ireland
Financial Statements
Year Ended 31 December 2023
MAGHERAMORNE PRESBYTERIAN CHURCH
a Congregation of The Presbyterian Church in Ireland
STATEMENT OF FINANCIAL ACTIVITY (Receipts & Payments Account) for the year ended 31 December 2023
| 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 2023 Total Funds 2022 £ £ £ £ 40,310 9,604 49,914 47,294 600 2,080 2,680 1,222 6,800 1,220 8,020 8,039 - 496 496 - 14 - 14 8,181 |
|---|---|
| 47,724 13,400 61,124 64,735 |
|
| 504 - 504 534 33,337 9,817 43,154 68,100 200 - 200 - |
|
| 34,041 9,817 43,858 68,634 |
|
| 13,683 3,583 17,266 (3,899) (2,956) 2,956 - - |
|
| 10,727 6,538 17,266 (3,899) 37,163 16,907 54,070 57,969 |
|
| 47,890 23,445 71,335 54,070 |
MAGHERAMORNE PRESBYTERIAN CHURCH
a Congregation of The Presbyterian Church in Ireland
STATEMENT OF ASSETS AND LIABILITIES As at 31 December 2023
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 £2,106,544 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 £574,512 at the last renewal date.
2. Investments
The Congregation has the following investments. Amounts shown at market valuation
| 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 Savings Account (N2) |
2023 2022 £ £ - - |
| - - |
|
| 2023 2022 £ £ - - |
|
| - - |
|
| 2023 2022 £ £ 52,696 37,163 14,895 12,265 3,539 2,802 80,015 79,519 |
|
| 151,145 131,749 |
N1:
N2: Increase in savings account is payment of interest from Danske Bank.
Approved by the Kirk Session at a meeting on 25/04/2024 and signed on their behalf by Name Mr J M Gardner (Clerk of Session)
Name Mr N Graham (Treasurer)
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Date XXXX
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Date XXXX
MAGHERAMORNE PRESBYTERIAN CHURCH
a Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS 31 December 2023
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 2023 Total Funds 2022 £ £ £ £ 30,083 1,966 32,049 31,417 - 821 821 631 935 6,199 7,134 10,313 9,292 619 9,911 4,933 - - - - |
| 40,310 9,604 49,914 47,294 |
MAGHERAMORNE PRESBYTERIAN CHURCH
a Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS (cont'd) 31 December 2023
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 2023 Total Funds 2022 £ £ £ £ - - - - 600 2,080 2,680 1,222 |
|---|---|
| 600 2,080 2,680 1,222 |
|
| Unrestricted Funds Restricted Funds Total Funds 2023 Total Funds 2022 £ £ £ £ 6,800 - 6,800 6,800 - 1,220 1,220 1,239 |
|
| 6,800 1,220 8,020 8,039 |
|
| Unrestricted Funds Restricted Funds Total Funds 2023 Total Funds 2022 £ £ £ £ - 496 496 - |
|
| - 496 496 - |
MAGHERAMORNE PRESBYTERIAN CHURCH
a Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS (cont'd) 31 December 2023
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 2023 Total Funds 2022 £ £ £ £ 14 - 14 12 - - - 3,600 - - - 4,568 |
|---|---|
| 14 - 14 8,181 |
|
| Unrestricted Funds Restricted Funds Total Funds 2023 Total Funds 2022 £ £ £ £ 504 - 504 405 - - - 129 |
|
| 504 - 504 534 |
|
| Unrestricted Funds Restricted Funds Total Funds 2023 Total Funds 2022 £ £ £ £ 2,753 - 2,753 3,423 352 - 352 367 12,064 - 12,064 2,606 17,627 1,578 19,204 48,476 - 4,708 4,708 9,910 541 3,531 4,073 3,318 |
|
| 33,337 9,817 43,154 68,100 |
|
| Unrestricted Funds Restricted Funds Total Funds 2023 Total Funds 2022 £ £ £ £ 200 - 200 - |
|
| 200 - 200 - |
MAGHERAMORNE PRESBYTERIAN CHURCH
a Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS (cont'd) 31 December 2023
10. FUND BALANCES
| Fund (i) Unrestricted Funds General Fund (ii) Restricted Funds United Appeal Christian Aid World Development Presbyterian Childrens Society Moderators Appeal Students' Bursary 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 £ £ £ £ £ £ 37,163 47,554 31,428 16,126 (2,956) 50,334 |
|---|---|
| 37,163 47,554 31,428 16,126 (2,956) 50,334 |
|
| - 1,711 4,666 (2,956) 2,956 - - - - - - - 255 140 115 - 115 - 50 50 - - - 915 1,118 (203) - (203) - - - - - - 12,266 4,447 1,433 3,014 15,280 175 - - - 175 479 168 223 (55) 424 265 1,631 1,590 41 306 685 40 145 (105) 580 2,137 1,650 1,025 625 2,762 457 1,814 1,425 389 846 444 393 617 (224) 220 |
|
| 16,907 13,074 12,431 643 2,956 20,506 |
|
| 54,070 60,628 43,858 16,770 - 70,839 |