Charity Number: NIC104768 Hill Street Presbyterian Church Annual Report and Unaudited Financial Statements for the financial year ended 31 December 2023
Hill Street Presbyterian Church CONTENTS Page Trustees, and Other Information Trustees, Report Statement of Trustees, Responsibilities Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 9-14 Supplementary Information relating to the Financial Statements 16
Hill Street Presbyterian Church TRUSTEES. AND OTHER INFORMATION Trustees John Graham Kenny Belshaw Nigel Mccullough Alan Blair Dan Corr Nigel Girvan Billy Harra Clarke Kennedy Leslie Mccullough Graham Montgomery Malcolm Qua Colin Robb Glenn Barbour Lewis Porter David McReynolds Charity Number in Northern Ireland NIC104768 Principal Address 6 Applevale Portadown Co. Afrnagh BT63 SYG United Kingdom Independent Examiner MG accounlanls (Portadownl 25-27 Cadeton Street Portadown Co. Amagh BT62 3EP Northem Ireland Principal 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 December 2023 The trustees present their Trustees, Report and the unaudited financial statements for the financial year ended 31 December 2023. The financial statements are prepared in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo chanties preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The Trustee5' Report contains the information required to be provided in the Trustees, Annual Report under Ihe Slalernent of Recommended Practice ISORP) guidelines. In this report the trustees of Hill Street P$bYterian Church present a summary of its purpose. governance, activities, achievements and finances for the financial year 31 December 2023. Review of Activities. Achievements and Performan¢e Hill Street Presbyterian Church exisls lo lead people to saving faith in Jesus. to bring them to maturity within the fellowship and lo encourage them to worship God in Spirit and Twth, and with lives of service. Financial Reviow The results for the financial year are set out on page 7 and additional notes are provided showing income and expenditure in greater detail. Results and Dividends Al the end of the financial year the charity has assets of £1.124,933 {2022 - £1.034,454) and liabilities of £1,560 (2022 - £1,420). The net assets ofthe charity have increased by £90.339. Reserves Position and 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 al least 12 months nomial expenditure. Al the year end the unrestricted reserves were £623,217. The Trustees consider il prudent to hold reserves at this level as the funding of its present activities is dependent of the ongoing financial support of mernbers. Principal Risk5 and Uncertainties A review of major risks has been undertaken by the Trustees and systems and procedures implemented lo manage identified risks. The principal risks are in latiOn to the likelihood of reputational damage and financial risks associated with the expectation of ongoing financial support from members. These risks are miligaled by the Trustees, and the Congregational Committee. regulady monitoring the various activities of the congregation al stated meetings and by encouraging members in their regular giving. Going Concern The activities of the congregation are dependent on ongoing contributions from ils members. The Trustees are of the opinion that the congregation has sufficient resources al the date of approval of these financial statements lo meet commitments which will arise in the year from the dale 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. Complian¢e with Sector-wide Legislation and Standards The Charities SORP IFRS 102} Approved by the Trustees on 20 August 2024 and signed on its behalf by: Kenny Belshaw Trustee Nigel MCC Trustee lough
Hill Street Presbyterian Church STATEMENT OF TRUSTEES. RESPONSIBILITIES for the financial year ended 31 December 2023 The trustees are responsible for preparing the financial statements in accordance with applicable law and regulations. The law applicable lo charities in Northem Ireland requires the Iruslees to prepare financial statements for each financial year which give a Ifue and fair view of the assets, liabilities and financial position of the charity as al the financial year end date and of the surplus or deficit of the charity and otherwise comply with the Charities Act (Northern Ireland) 2008. In preparing these financial slatemenls, the Iruslees are required lo= select suitable accounting policies and apply them consistently.. obsetve the methods and principles in the Charities SORP make judgements and accounting estimates that are reasonable and prudent., stale whether the financial slalemenls have been prepared in accordance with applicable 8ccounling standards, identify those standards, and note the effect and the reasons for any material departure from those standards- and prepare the financial statements on the going concem basis unless it is inappropriate lo presume that the charity will continue in operation. The trustees confirm that they have complied with the above requirements in preparing the financial st81ements. The Iruslees are responsible for keeping adequate accounting records that are sufficient 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 to ensure that the financial statements comply with the Chaiilies Act (Northern Ireland} 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detectioll of fraud and other irregularities. Approved by the Trustees on 20 August 2024 and signed on its behalf by: Kenny Belshaw Trustee Nigel M¢ Trustee ug
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 2023. which comprise the Statement of Financial Activities. the Balance Sheet and the related notes. This report is made solely to the charity's members. as a body, in accordance with the Charities Act (Northem 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 stale those matters that we have agreed lo slate lo them in this report and for no other purpose. To the fullest exlenl permilled by law, we do not accept or assume responsibility lo anyone olher than the charity and the charity's members, as a body, for our work. or for this report. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Acl (Northem Ireland) 2008_ The charity's trustees consider that an audit is not required for this financial year under the Charities Act (Northern Ireland) 2008 and that an independent examination is required. It is our responsibility to: examine the financial slalements under section 65 of the Charities Act.. follow the procedures laid down by the general Directions given by the Charity Commission for Northern Ireland under section 65{9}(bl of the Charities Act- and state whether particular malters have come lo our attentiov). Basis of independent examin¢rfs report We have examined your charity financial slalements 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 Northern Ireland under section 65191{b) of the Charities Act. An examination includes a review of the accounting recor(Js kept by the charity and a comparison of the financial slatements presented with those records. 11 also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair, view and the report is limited lo those malters set out in the statement below. In connection with 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 section 63 of the Charities Act the financial slalements do not accord with those accounling records the financial statements have not been prepared in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS102) there is further information needed for a proper understanding of the accounts to be reached. Independent examiner's statement We have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the financial statements lo be reached. MG ccountants {Portadownl 25-27 Carieton Street Portadown Co. Armagh BT62 3EP Northern Ireland Date.. 20 August 2024
Hill Street Presbyterian Church STATEMENT OF FINANCIAL ACTIVITIES for the financial year ended 31 December 2023 Unrestricted Restricted Funds Funds 2023 2023 Total Unrestricted Restricted Funds Funds Funds 2023 2022 2022 Total Funds 2022 Notes Incoming Resources Activities for generating funds 267,294 137,472 404.766 254.121 143.328 397,449 Resources Expended Charitable activities Other expenditure 199.345 113.493 1,589 312.838 1.589 181.787 131.103 740 312.890 740 Total Resources Expended 199.345 115.082 314,427 181,787 131,843 313,630 Net incomingloutgoing resources before transfers 67.949 22.390 90.339 72.334 11.485 83.819 Gross transfers between funds Net movement in funds for tho financial yoar 67,949 22,390 90,339 72.334 11,485 83.819 Reconciliation of funds- Total funds beginning of the year 14 555.268 477.766 1.033.034 482,934 466,281 949,215 Total funds at the end of the year 623.217 500,156 1.123.373 555,268 477,766 1,033,034 The Statement of Financial Activities includes all gains and losses recognised in the financial year. All income and expenditure relate to continuing activities. The notes on page5 9 10 14 forwn part of the finanual statements
Hill Street Presbyterian Church BALANCE SHEET as al 31 December 2023 2023 2022 Noles Fixed Assets Tangible assets Investments 340.866 100.905 347,173 102,924 10 441.771 450,097 Current Assets Debtors Cash al bank and in hand 11 34,652 648,510 29.510 554,847 683.162 584.357 Creditors.. Amounts falling due within one year 12 {1,560) 11,4201 Net Current Assets 681,602 582.937 Total Assets less Current Liabilities 1.123.373 1.033,034 Funds Reslricled trust funds Designated funds {Unreslrictedl General fund lunreslricted) 500,156 627,817 14.6001 477,766 559,868 {4,6001 Total funds 14 1.123.373 1,033,034 Approved by the Trustees and authorised for issue on 20 August 2024 and signed on its behalf by Kenny Belshaw Trustee Nigel Mc Trustee The noles on pages 9 10 14 form part of the financial slalements
Hill Street Presbyterian Church NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2023 GENERAL INFORMATION Hill Street Presbyterian Church is a charity incorporated in Northern Ireland. The registered office of the company is 6 Applevale. Portadown, Co. Arfflagh, BT63 5YG. United Kingdom which is also the principal place of business of the charity. The financia5 statements have been presented in Pound Sterling (£1 which is also the functional currency of the charity. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following accounting policies have been applied consistently in dealing with items which are considered material in relation lo the charity s financial statements. Basis of preparation The financial slalements have been prepared on the going con 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 ISORP) "Accounb'ng and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102". As permitted by the Companies Act 2006, the charity has varied the standard fomials in that act for the Statement of Financial Activities and the Balance Sheet. Departures from the standard formals are to comply with the requirements of the Chanties SORP and are in compliance with section 4.7. 10.6 and 15.2 of that SORP. Statement of compliance The financial statements of the charity for the financial year ended 31 December 2023 have been prepared on the going concern basis and in accordance with the Statement of Recommended Practice ISORP} "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting standard applicable in the UK and Republic of Ireland FRS 102". Incorning Resources Voluntary income or capital is included in the Statement of Financial Activities when the charity is legally enlilled to it, its financial value can be quantified with reasonable certainty and there is reasonable certainly of ils ultimate receipt. Enlitlemenl to legacies is considered established when the charity has been notified of a distribution lo be made by the executors. Income received in advance of due perfomiance under a contract is accounted for as deferred income until earned. Grants for activities are recognised as income when the related conditions for legal enlitlemenl have been met. Atl other income is accounted for on an accruals basis. Income from ¢haritable activities Income from charitable activities indude income earned from the supply of seNices under contractual arrangements and from perfomiance related grants which have conditions that specify the provision of particular services to be provided by the charity- Income from govemment and other co-funders 15 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 ceiVed in advance, its recognition is deferred and included in creditors. Where entitlement occurs before income is received. it is accrued in debtors. Grants from governments and olher co-funders typically include one of the following types of conditions.. Perforniance based conditions.. whereby the charity is contractually entitled to funding only to the extent that the core objectives of the grant agreement are achieved. Where the charity is meeting the core objectives of a grant agreement, it recognises the related expenditure, to Ihe extent that il is reimbursable by the donor. as income. -Time based conditions.. WhebY the charity is corklractually entitled lo funding on the condition that il is utilised in a particular period. In these cases the charity recognises the income lo 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 afflounl can be reliably measured, grant income is recognised or)ce the charity is notified of enlillemenl. Grants received lowards capital expenditure are credited to the Stalemenl of Financial Activities when received or receivable, whichever is earlier.
Hill Street Presbyterian Church NOTES TO THE FINANCIAL STATEMENTS continued for the financial year ended 31 Decefflbei 2023 Resources Expended Expenditure is recognised on an accruals basis as a liability is incurred. Expendilure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure lo which it relates. Other charitable expenditure comprises those cosls incurred by the charity in the delivery of its activities and services for ils beneficiaries. It includes both costs that can be allocated directly lo such activities and those costs of an indirect nature ne5$ary lo support them. Central Church Assessments are paid annually by quarterfy inslalments. Ministry and Support staff are paid in accordance with agreed terms and conditions and for the direct benefit of the charity s congregation. Tangible fixed assets and depre¢iation Tangible fixed assets are stated al cost or at valuation. less accumulated depreciation. The charge lo depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated residual value, over their expected useful lives as follows- Land and buildings freehold Plant and machinery Motor vehicles 4Yo Straight line 15Yo Straight line 25% Straight line Investments Investments held as fixed assets are staled at cosl less provision for any perrnanenl diminulion in value. Income from other financial fixed asset investments 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 recognised at the settlement amount due after any discounl offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Income recognised by the charity from government agencies and other co-funders. but not yel received at year end, is included in debtors. Cash at bank and in hand Cash al bank and in hand comprises cash on deposit at banks requiring less than Ihree months notice of withdrawal. Taxation and deferred taxation No current or deferred 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 2023 2022 Regular Direct Giving Donations and Legacies Activities that generate income Investment Income Other Income Sources 254.582 4.229 2,158 5,522 803 100,146 18.129 5,459 24 13.714 354,728 22.358 7,617 5.546 14.517 315,131 34,015 5,959 22,329 20,015 267.294 137,472 404.766 397,449 10
Hill Street Presbyterian Church NOTES TO THE FINANCIAL STATEMENTS continued for the financial year ended 310ecember 2023 EXPENDITURE CHARITABLE ACTIVITIES Direel Costs Other Cosls Support Costs 2023 2022 Central Church Assessments Ministry and Support Staff Life and Work Other Support Costs Grants to missions and charities Governance Costs (Note 4.3> 18,206 134,038 16,930 35,136 134,038 32.336 37,811 68.530 4.987 32.713 117,677 30,814 49.026 76,722 5,938 32.336 37,811 68,530 4.987 220,774 92,064 312,838 312,890 OTHER EXPENDITURE Direct Cos15 Other Costs Support Costs 2023 2022 Other expenditu 1.589 1,589 740 GOVERNANCE COSTS Direct Costs Other Costs Support Costs 2023 2022 Bank fees Presbytery costs Accountancy 674 2,463 1.850 674 2.463 1,850 1,780 2,418 1,740 4.987 4.987 5,938 SUPPORT COSTS Charitable Other Goveman¢e Activities Expenditure Costs 2023 2022 Central Ministry Fund Worship and Fellowship Bank fees Subsistence Office costs Property and Equipment Governance costs other staff Utilities Insurance 50 16,936 1,780 5,362 8,247 42,390 2,628 5,878 17.059 6,048 14,215 1,500 674 15.715 674 11,773 7,937 39.216 2.813 10.184 7,937 39.216 1.589 2.813 13,678 1.847 13.678 1.847 87,077 1,589 4,987 93,653 106,378 11
Hill Street Presbyterian Church NOTES TO THE FINANCIAL STATEMENTS continued for the financial year ended 31 December 2023 ANALYSIS OF SUPPORT COSTS 2023 2022 Central Ministry Fund Worship and Fellowship Bank fees Subsistence Office costs Property and Equipment Governance costs Other staff Utilities Insurance 50 16.936 1,780 5,362 8,247 42,390 2,628 5,878 17,059 6,048 15,715 674 11,773 7,937 39,216 2,813 13.678 1,847 93.653 106,378 NET INCOMING RESOURCES 2023 2022 Net Incoming Resources are stated after chargingllcrediting): Depreciation of tangible assets 16.930 14,805 INVESTMENT AND OTHER INCOME 2023 2022 Bank interest 4.194 265 EMPLOYEES AND REMUNERATION The staff costs {inclusive of trustees, salaries) cornprise= 2023 2022 Wages and salaries 134,038 117,677 TANGIBLE FIXED ASSETS Land and buildings freehold Plant and machinery Motor vehicles Total Cost or Valuation Al 1 January 2023 Additions 350.872 15,940 10,623 23,000 389,812 10,623 Al 310ecember 2023 350,872 26,563 23,000 400,435 Depreciation Al 1 January 2023 Charge for the financial year 21,051 7.017 3,188 5,313 18.400 4,600 42,639 16,930 Al 31 December 2023 28,068 8,501 23.000 59,569 Net book value At 31 December 2023 322,804 18,062 340,866 Al 31 December 2022 329,821 12,752 4,600 347,173 12
Hill Street Presbyterian Church NOTES TO THE FINANCIAL STATEMENTS continued for the financial year ended 31 Decembef 2023 10. INVESTMENTS Other investments Investments Cost At 1 January 2023 Revaluations 102,924 12,0191 At 31 December 2023 100.905 Net book value At 31 December 2023 100,905 At 31 December 2022 102,924 11. DEBTORS 2023 2022 Gift aid tax due 34,652 29,510 34,652 29,510 12. CREDITORS Amounts falling due within one year 2023 2022 Accruals and deferred income 1.560 1,420 13. RESERVES 2023 2022 Al the beginning of the year Surplus for the financial year 1,033,034 90.339 949,215 83,819 At the end of the year 1,123,373 1,033,034 14. FUNDS 14.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestricted Restricted Funds Funds Total Funds Al 1 January 2022 Movement during the financial year 482.934 72,334 466.281 11.485 949.215 83,819 Al 31 December 2022 Movernenl during the financial year 555.268 67,949 477,766 22.390 1,033.034 90.339 Al 31 December 2023 623,217 500.156 1.123.373 13
Hill Street Presbyterian Church NOTES TO THE FINANCIAL STATEMENTS continued foi the financial year ended 31 December 2023 14.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance 1 January 2023 Income Expenditure Transfers Balance between 31 December funds 2023 Restricted funds Incoming Resources Resources Expended 937,657 1459.891) 137.472 1,075,129 {574,973} 115.082 477,766 137.472 115.082 500,156 Unrestricted funds Incoming Resources Resources Expended Unrestricted General 1,421.179 1861.311) (4,600) 267.294 1,850 197,495 1,686,623 11.058,806) 14,6001 555,268 267,294 {199.345) 623.217 Total funds 1,033,034 404,766 314.427 1.123,373 15. TRUSTEES. REMUNERATION 2023 2022 Remuneration 62.459 49,789 16. POST-BALANCE SHEET EVENTS There have been no significant events affecting the Charity since the financial year-end. 14
HILL STREET PRESBYTERIAN CHURCH SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 15
Hill Street Presbyterian Church SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS Operating Statement for the financial year ended 31 December 2023 2023 2022 Income Recorded Giving Tax recorded on gift aid Loose collection Gifts and donations Other income Activities to generate income Investment incorne 292.126 51,017 11,585 12,527 29,322 2,643 1,352 258,280 43,660 13.191 30,186 19,335 7,203 22,329 400,572 394,184 Expenses Wages and salaries (including trustees. remuneration) Central Ministry Fund Presbytery Fees Grants to misions and charities Utililies Worship and fellowship Insurance Cleaning Repairs and maintenance Printing, postage and ststionery Telephone Computer costs Motor expenses Accountancy Bank charges Subsistence Depreciation 134,038 18,206 2,463 68,530 13.678 15.539 117.677 17,908 2,418 76,722 17,059 13,257 4.446 567 24,457 6,787 895 2,561 1,602 1,740 1,780 5,949 14,805 810 21,476 4,159 3.778 1,847 1,850 674 10,449 16,930 314,427 310,630 Mlscellaneous income Bank interest 4,194 265 Not surplus 90.339 83,819 The supplementary information does nol fom part of the financial statements 16