Charfty Number: NIC104768 Hill Street Presbyterian Church Annual Report and Unaudited Financial Statements for the financial year ended 31 December 2022
Hill Street Presbyterian Church CONTENTS Page Trustees. and Other Information Trustees, Report Statement of Trustees, Responsibilities Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 9-15 Supplementary Information relating to the Financial Statements 16
Hill Street Presbyterian Church TRUSTEES. AND OTHER INFORMATION Trustees Kenny Belshaw Nigel Mccullough Alan Blair Billy Harra Bobby Mccomick Clarke Kennedy Colin Robb David Cooper Dan Corr Graham Montgomery George Robinson John Graham Leslie Mccullough Lloyd Mcllwaine Malcolm Qua Charity Number in Northern Ireland NIC104768 Principal Address 6 Applevale Portadown Co. Armagh BT63 5YG United Kingdom Independent Examlner MG accountants (Portadown) 2&27 Cadeton Street Portadown Co. Amagh BT62 3EP Northem Ireland Bankers Danske Bank PO Box 183 Donegall Square West Belfast Co. Antrim BT16JS United Kingdom
Hill Street Presbyterian Church TRUSTEES. REPORT for the financial year ended 31 Defflber 2022 The trustees present their Trustees, Report and the unaudited financial statements for Ihe financial year ended 31 December 2022. The financial statements are prepared in accordance with FRS 102 Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland. and Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their financial slatefflents in accordance with the Financial Reporting Standard applicable in th8 UK and Republic of Ireland {FRS 102}. The Tnjstees, Report contains the information required lo be prowded in the Tnjstees, Annual Report under the stalem&nl of Recommended Practice ISORP) guidelines. In this report the trusteès of Hill Street Presbyterian Church present a summary of its purpose, govemance, aclivilies, achievements and finances for the financial year 31 December 2022. Review of Activities, Achievements and Perfomiance Hill Street Presbyterian Church exists to lead people lo saving Faith in Jesus. lo bring them to maturity within the fellowship and to encourage them to worship God in Spirit and Truth. and with lives of service. Financial Review The results for the financial year are set out on page 7 and addItsC81 notes are provtded showing income and axpendilure in gater detail. Results and Dlvldends At the end of the financial year the charity has assets of £1.034.454 {2021 - £950.5151 and liabilities of £1.42012021 - £1,3001- The net assets of the charity have increased by £83,819. Reserve5 Posltion and Policy The Trustees have considered the level of unrestricted reserves that is appropilate to hold taking account of current and ongoing commitments. It is the policy of the Trustees to hold at least 12 months nomal expenditure. Al the year end the unreslricled reseNes We £555,268. The Trustees consider it prudent to hold seNe$ at this level as thé funding of ils present activities is dependent of the ongoing financial support of members. Principal Risks and Un¢ertaintles 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 putational damage and financial rlsks associated with the expectation of ongoing financial support from members. These risks are mitigated by the Trustees. and the Congregational Committee, regulatly monitoring the various activities of the congregation at stated eelings and by encouraging members in their regular giving. Going Con¢ern The activities of the ConggatiOn are dependent on ongoing contributions from its members. The Trustees a of the opinion Ibal the congregation has sufficient resources at the dale of approval of these financial statements lo meet commitments which will arise in the year trom the date of signing this report and subj8Ct to tha continuing support from members to fund on an ongoing basis the cOnggatiOn'S currenl activities and other financial commitments. Compliance with Sector-wide Legislation and Standards The unaudited financial statements are prepared in accordance with Ihe Charities SORP IFRS 1021 Approved by the Trustees on 2023 and signod on Its behalf by: Kenny Belshaw Trustee Nigel Mccullough Trustée
Hill Street Presbyterian Church STATEMENT OF TRUSTEES, RESPONSIBILITIES for the financial year ended 31 December 2022 The trustees are responsible for preparirwJ the finanaal statements in accordance with applicable law and regulations. The law applicable to charities in Northern Ireland requires the trustees to ppa financial statements for each financial year which give a true and fair view of the assets, liabilits.es and financial position of the charity as al thè financial year end date and of the surplus or deficit ol the charrty and otherwise comply with the Chariues Act (Northern Ireland) 2008. In preparing these financial statements, the trustees are required to.. select suitable accountsng policies and apply them consistenly., observe the methods and principles in the Charities SORP make judgements and estimates that are reasonable and prent.. slate whether the financial ststements have been prepared in accordance with the relevant financial reporting framework, entIfy those standards, and note the effect and the reasons for any material departu from those standards", and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in operation. The trustees confitm that they have complied with the above requirements in prepanng Ihe financial statements. The trustees are sponsible for keeping adequate accounting records that are sufficienl to show and explain the charity's transactions and disclose with reasonable accuracy at any lime the financial position of the charity and enable them lo ensure that the financial statements comply with the Charities Act {Northem Irelandl 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable Steps for the prevention and deleth'on of fraud and other iffegularities. Approved by the Trustees on and signed on Its b¢half by: Kenny Belshaw Truste• Nigol Trust¢0 ¢Cullough
Hill Street Presbyterian Church INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HILL STREET PRESBYTERIAN CHURCH We have examined the financial statements of the charity for the financial year ended 31 December 2022, which comprisè the Statement of Finanaal Actsvrties. the Balance Sheet and the lated notes. This port is made solely to the charity's members, as a body, in accordan with the Charities Act {Northern Ireland) 2008. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the Trustees that we have done so, and state those matters that we have agreed lo slate to them in this report and for no other purpose. To the fullest extenl pemiitted by law. we do not accept or assume responsibility lo anyone other than the charity and the charity's members, as a body, for our work, or for this report. Respective responslbillties of trustees and examiner The charity's trustees are responsible for the preparatson of the finanual statements in acLordance with the requirements of the Charities Act (Northem Ireland) 2008. The charity's trustees consider that an audit is not required for this financial year under the Chanttes Act {Northem Ireland) 2008 and that an independent examination is required. It is our responsibility to= examine the financial statements under section 65 of the Charities ACL follow the procedures laid down by the general Directions 9iven by the Charity Commission for Northern Ireland under section 6519){b) of the Charities Act.. and state whether particular matters have come to our attention. Basls of indopendent examinerfs report We have examined your charity financial statements as required under section 65 of the Charities Act and our examination was carried out in accordance with the general Directions given by the Charity Commission for Northem Ireland under sects.on 65191{b} of the Charities Act An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disdosures in the financial statements and seeking explanations trom the trustees Conrning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and conseqtsenlly no opinion is given as to whether the accounts present a 'true and fairf view and the report is limited to those matters set out in the statement below. In connection wth our examination, no matter has come to our attention which gives us cause to believe that in, any material respect.. accounting records were not kept in accordance with seclion 63 of the Charilies Act the financial statements do not accord th those accounting records the financial slalemenls have not been prepared in accordance with the Statement of Recommended Practice applicable to ch2ritTes preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) the is fvrther informab.on needed for a proper understanding of the accounts lo be reached. Independent examinerfs statement We have no COnrn$ and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. ACCOUNTANTS rtadown} 7 Carleton Street Portadown Co. Armagh BT62 3EP Northern Irelan Ip Date:
Hill Street Presbyterian Church STATEMENT OF FINANCIAL ACTIVITIES for the financial year ended 31 December 2022 Unrestricted Restricted Funds Funds 2022 2022 Total Unrestricted Restricted Funds Funds 2021 2021 Total 2022 2021 Notes Incomlng Resources Activities for generating funds 254,121 143,328 397.449 218,883 115,664 334,547 Resources Expended Charitable activities other expenditure 181.787 131,103 740 312,890 164,960 4,600 89.812 7,017 254,772 11.617 Total Resources Expended 181,787 131,843 313,630 169.560 96,829 266,389 Net incomlngloutgolng resources before transfers before exceptional items Exceptional items 72,334 11,485 83.819 49,323 18,835 68,158 3.319 3,319 Net incomlngloutgoing resources before transfers after exceptional items Gross transfers between funds 72,334 11,485 83,819 52,642 18,835 71,477 Net movement in funds for the flnancial year 72.334 11.485 83,819 52,642 18.835 71,477 Reconciliation of funds Balances broughtforward at 1 January 2022 15 482,934 466,281 949,215 430,292 447,446 877,738 Balances carried forward at 31 December 2022 555,268 477,766 1.033,034 482,934 466,281 949.215 The Statement of Financial Activities includes all gains and losses recognised in the financial year. All income and expenditu relate lo continuing activities. The f1&$ on pages 9 to 15 form part of the finanoal statements
Hill Street Presbyterian Church BALANCE SHEET as at 31 December 2022 2022 2021 Notes Flxed Assets Tangible assets Investments 10 11 347,173 102,924 346.038 83,554 450,097 429.592 Current Assels Debtors Cash at bank and in hand 12 29,510 554,847 29,062 491,861 584,357 520,923 Credltors: Amounts falllng due wlthln one year 13 {1.420) 11,300} Net Current Assets 582,937 519,623 Total Assets less Current Liabilities 1,033,034 949.215 Funds Restricted trust funds Unrestricted d8signated funds 477,766 555,268 466,281 482.934 Total funds 15 1,033,034 949,215 Approved by the Trustees and authorlsed for issue on and slgned on Its behalf by Kenny Belshaw Trustee Nigel Trustee Cullough The notes on pages 9 10 15 form part of the finanoal statements
Hill Street Presbyterian Church NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2022 GENERAL INFORMATION Hill Street Presbyterian Church is a charity incorporated in Norlhem Ireland. The registered Offi of the company is 6 Applevale, Portadown, Co. Armagh, BT63 5YG, United Kingdom which is also the principal place of business of the charity- The financial statements have b86n presented in Pound Sterling {£) which is also the functional currency of the charity. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The followng accounting policies have been applied consistently in dealing with items which are considered material in relation to the charity's financial statements. Basls of preparation The financial statements have been prepared on the going concem basis under the historical cost convention, modified to include certain items at fair value. The financial statements have been prepared in accordance with the Statement of Recommended Practice {SORP) "Accounting and Reporting by Charities preparing their accounts in accor(lance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102". As pemiitted by the Companies Act 2006, the charity has varied the standard fomiats in that act for the Statement of Financial Acb'vities and Ihe Balance Sheet. Departures from the standard fomiats are lo comply with the requirements of the Charities SORP and are in compliance wllh section 4.7, 10.6 and 15.2 of that SORP. Statement of compliance The financial ststements of the charity for the financial year ended 31 December 2022 have been prepared on the going concem basis and in accordance with the Statement of Recommended Practice (SORPI "Accounting and Reporting by Charities pparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102.. Incoming Resources Voluntary income or capital is included in the Statement of Financial Aclivities when the charity is legally entitled to it, its financial value can be quantified with reasonable certainty and there is reasonable certainty of its ultimate receipt. Entitlement to legacies is considered established when the charity has been notified of a distribution to be made by the executors. Income received in advance of due perfomance under a contract is accounted for as deferred income until eamed. Grants for activities are recognised as income when Ihe related conditions for legal entitlement have been met. All other income is accounted for on an accruals basis. Income from charitable activities Income from charitable activities include income eamed from the supply of seNicès under contractual arrangements and from performance related grants which have conditions that specify the provision of particular services to be provided by the charity. Income from govemment and other Covfunders is recognised when the charity is legally entitled to the income because it is fulfilling the conditions contained in the related funding agreements. Where a grant is received in advance, its recognition is deferred and included in creditors. Where entitlement occurs before income is recetved, it is accrued in debtors. Grants from govemments and other c(Ffund6rs typically include one of the following types of conditions: Performance based conditions.. whereby the charity is contractually entitled to ftjnding only to Ihe extent that the core objectives of the grant agreement are achieved. Where the charity is meeting the core objectives of a grant agreemant. it reccKJnises the related expenditure. to the extent that it is reimbursable by the donor, as income. -Time based conditions.. whereby the charity is wntractually entitled to funding on the condition Ihat it is ulilised in a particular period. In these cases the chartty recognises the income to the extent it is utilised within the period specified in the agreement. In the absence of such conditions, assuming that receipt is probable and the amount can be reliably measured, grant income is recognised once the charity is notified of entillement. Grants received towards capital expenditure are credited to the Statement of Financial Activities when received or receivable. whichever is eadier.
Hill Street Presbyterian Church NOTES TO THE FINANCIAL STATEMENTS continued for the financial year ended 31 December 2022 Resources Expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered. and is reported as part of the expenditure to which it relates. Other charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and seNices for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Central Church Assessments are paid annualty by quartedy instalments. Ministry and Support staff are paid in accordance with agreed terms and conditions and for the direct benefit of the chartty's congregation. Tangible fixed assets and depreciation Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to WTite off the original cost or valuation of tangible fixed assets. less their estimated residual value. over their expected useful Irves as follows.. Land and buildings freehold Plant and machinery Motor vehicles 4Vo Straight line 15 % Straight line 25 /0 Straight line Investments Investments held as fixed assets are stated at cost less provision for any pemanent diminution in value. Income from other ffinancial fixed asset investrnents together with any related tax credit is recognised in the profit and loss account in the year in which it is receivable. Debtors Debtors are rec(MJnised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Income recognised by the charity from govemment agencies and other c(Ffunders, but not yet received al year end, is included in deblors. Cash at bank and in hand Cash at bank and in hand comprises cash on deposit at banks requiring less than three months notice of withdrawal. Taxation and deferred taxation No current or dèferred taxation arises as the charity has been granted charitable exemption. Irrecoverable valued added tax is expensed as incurred. INCOME OTHER TRADING ACTIVITIES Unrestricted Restricted Funds Funds 2022 2021 Regular Direct Giving Donations and Legacies Activities that generale income Investment Income Other Income Sources 219.062 10.740 940 22,321 1.058 96,069 23,275 5.019 315,131 34,015 5.959 22,329 20,015 289,799 11,123 2,720 14,318 16,587 18,957 254,121 143.328 397,449 334,547 10
Hill Street Presbyterian Church NOTES TO THE FINANCIAL STATEMENTS continued for the financial year ended 31 December 2022 EXPENDITURE CHARITABLE ACTIVITIES Direct Costs Other Costs Support Costs 2022 2021 Central Church Assessments Ministry and Support Staff Life and Work Other Support costs Grants to missions and charities Govemance Costs {Note 4.3) 17,908 111,799 823 14,805 5.878 29.991 49,026 32,713 117,677 30.814 49,026 76,722 5.938 18,036 117,400 40,677 21,799 52,481 4,379 76,722 5,938 207,252 105,638 312,890 254,772 OTHER EXPENDITURE Direct Costs Other Costs Support Costs 2022 2021 Other expenditure Depreciation 740 740 11,617 740 740 11,617 GOVERNANCE COSTS Direct Cosls Other Costs Support Costs 2022 2021 Bank fees Presbytery costs Accountancy Legal and professional fees 1,780 2.418 1,740 1,780 2,418 1.740 1,681 888 1,740 70 5,938 5,938 4,379 SUPPORT COSTS Charitable Other Govemance Activities Expenditure Costs 2022 2021 Central Ministry Fund Worship and Fellowship Bank fees Subsistence Office costs Property and Equipment Governance costs Other staff Utilities Insurance 50 1,480 1,780 50 16,936 1,780 5.362 8.247 42,390 2,628 5,878 17,059 6,048 15.456 7,750 1,681 1,674 4,972 33,244 2.698 6,744 9,559 3,750 4.622 8.247 42,390 740 2.628 5,878 17.059 6,048 99.700 740 5,938 106,378 72,072 11
Hill Street Presbyterian Church NOTES TO THE FINANCIAL STATEMENTS continued for the financial year ended 31 December 2022 ANALYSIS OF SUPPORT COSTS 2022 2021 Central Ministry Fund Worship and Fellowship Bank fees Subsistence Office costs Propety and Equipment Govemance costs Other staff Utilities Insuran 50 16.936 1,780 5,362 8,247 42,390 2,628 5,878 17,059 6,048 7,750 1.681 1,674 4.972 33.244 2,698 6,744 9.559 3,750 106,378 72.072 NET INCOMING RESOURCES 2022 2021 Net Incoming Resources are stated after charyingl(crediting): Depreciation of tangible assets 14,805 11,617 EXCEPTIONAL ITEMS 2022 2021 HMRC furlough scheme 3,319 INVESTMENT AND OTHER INCOME 2022 2021 Bank interest 265 EMPLOYEES AND REMUNERATION The staff costs (inclusive of trustees, salaries} comprise: 2022 2021 Wages and salaries 117.677 117,400 10. TANGIBLE FIXED ASSETS Land and buildings freehold Plant and machlnery Motor vehicles Total Cost or Valuation At 1 January 2022 Additions 350,872 23,000 373.872 15,940 15.940 At 31 December 2022 350,872 15,940 23,000 389,812 Depreciation At 1 January 2022 Charge for the financial year 14.034 7.017 13,800 4,600 27,834 14,805 3,188 At 31 December 2022 21.051 3.188 18.400 42,639 Net book value At 31 December 2022 329,821 12,752 4,600 347,173 At 310ecember 2021 336,838 9,200 346,038 12
Hill Street Presbyterian Church NOTES TO THE FINANCIAL STATEMENTS continued for the financial year ended 31 December 2022 11. INVESTMENTS Other Investments Investments Cost At 1 January 2022 Revaluations 83,554 19.370 Al 31 December 2022 102,924 Net book value At 31 Dember 2022 102,924 At 31 December 2021 83,554 12. DEBTORS 2022 2021 Gift aid tax due 29,510 29.062 29,510 29.062 13. CREDITORS Amounts falling due within one year 2022 2021 Accruals and deferred income 1,420 1,300 14. RESERVES 2022 2021 At 1 January 2022 Surplus for the financial year 949.215 83,819 877,738 71,477 At 31 December 2022 1,033.034 949,215 15. FUNDS 15.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestrlcted Restricted Funds Funds Total Funds At 1 January 2021 Movement during the financial year 430,292 52.642 447,446 18,835 877.738 71,477 At 31 December 2021 Movement during the financial yaar 482,934 72.334 466,281 11.485 949,215 83,819 At 31 December 2022 555.268 477.766 1,033,034 13
Hill Street Presbyterian Church NOTES TO THE FINANCIAL STATEMENTS continued for the financial year ended 31 Decefflber 2022 15.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance 1 January 2022 Income Expendlture Transfers Balance between 31 December funds 2022 Restricted funds Incoming Resources Resources Expended 795.521 (329,240) 143.328 (3,000) 740 128,103 938,109 {460,3431 466,281 140.328 128.843 477,766 Unrestricted funds Incoming Resources Resources Expended 1.167,058 {684.124) 253.673 1,420,731 (865,4631 181.787 482,934 254.121 (181,787) 555,268 Total funds 949.215 394.449 310.630 1,033,034 16. TRUSTEES. REMUNERATION One of the Trustees. the Minister of the congregation, received remuneration and allowances of £51,057 for acting in that capacity. Pension contributions of £10,722 were paid by the congregation in respect of th8 Minister to the Presbyterian Church in Ireland Pension Scheme120091. The Associate Minister of the congregation is also a Trustee and received rernuneration and allowances of £32,804 for acting in that capacity- Pension contributions of £6,699 were paid by the congregation in respect of the Associate Minister to the Presbyterian Church in Ireland Pension Scheme (2009). No trustee received remuneration or expenses during the year in connection with their duties other than those mentioned above. 17. POST-BALANCE SHEET EVENTS There have been no significant events affecting the Charity Sin the financial year-end. 14
HILL STREET PRESBYTERIAN CHURCH SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 15
Hill Street Presbyterian Church SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS Operating Statement for the financial year ended 31 December 2022 2022 2021 Income Recorded Giving Tax recorded on gift aid Loose collection Gifts and donations Other income Activities to generate income Investment income 258,280 43,660 13,191 30,186 19,335 7.203 22,329 242,005 39,897 7,897 11,123 16,587 2,720 14,318 394,184 334.547 Expenses Wages and salaries {including trustees. remuneration) Central Ministry Fund Presbytery Fees Grants to missions and charities utilities Worship and fellowship Insuranc8 Cleaning Repairs and maintenance Printing. postage and stationery Telephone Computer costs Motor expenses Legal and professional Accountancy Bank charges Subsistence Depreciation 117.677 17,908 2.418 76.722 17.059 13,257 117,400 18,036 888 52,481 9,559 9,944 2,483 1,516 5,011 2,617 1,895 26.510 1,267 70 1,740 1,681 1,674 11,617 567 24,457 6,787 895 2,561 1.602 1.740 1,780 5,949 14,805 310,630 266,389 Exceptlonal ltsms 3,319 Miscellaneous income Bank interest 265 Net surplus 83.819 71,477 The supplementary infomiation does not fomi part of the financial statements 16