Charity registration number NIC104808 RICHHILL PRESBYfERIAN CHURCH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
RICHHILL PRESBYTERIAN CHURCH LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr M McHugh Mr T Graham Rev A McNeely Mr L Brownlee Mr E Hanna Mr D Milligan Mr D Parr Mr M Vallelly Mr W Diffin Mr S Cardwell Mr S Thompson Mr R Cregan Mr A Graham Mr D Black Mr S Strain Mr S Todd Charlty number NIC104808 Principal address 6 Cor¢reevy Road Richhill Co Armagh BT619JR Audltor GMCG PORTADOWN 17 Mandeville Street Portadown Craigavon Co Armagh BT62 3PB Bankers Danske Bank P.0. Box 183 Donegall Sq West Belfast BT16 ORL Solicitors Thompson Mitchell 12-14 Mandeville Street Portadown Craigavon Co Armagh BT62 3NZ
RICHHILL PRESBYfERIAN CHURCH CONTENTS Page Trustees, report Independent auditor's report 8-12 Statement of financial activities 13 Statement of financial position 14 Statement of cash flows 15 Notes to the financial statements 16-24
RICHHILL PRESBYTERIAN CHURCH TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their annual report and financial statements for the year ended 31 December 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Constitution, the Charities Act 2008 and "Accounting and Reporting by Charities: 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 {FRS 102)" (effective 1 January 2019). Obje¢tlves and actlvities The charitable purpose of the congregation is the advancement of religion. Richhill Presbyterian Church is a Congregation of the Presbyterian Church in Ireland. The Presbyterian Church in Ireland, as a Reformed Church within the wider body of Christ is grounded in the Scriptures, and exksts to love and honour God through faith in His Son and by the power of His Spirit, and to enable her members to play their part in fulfilling God's mission to our world. Richhill Presbyterian Church exists to lead people to saving faith in Jesus, to bring them to maturity Within the fellowship. and to encourage them to worship God in Spirit and Truth, and with lives of service. This involves our 5 core purposes.... 1 } Evangelism - Jesus, Great Commission of Matthew 28 compels us to go into the world and make disciples. 2) Discipleship- The Christian life is not a plane ticket to Heaven, it is a passport to serve in Jesus. new kingdom. We are to grow in Chrisllikeness and experience sanctifiGation. 3) Fellowship The Christian is not to be a hermit but rather part of a worshipping community. God has graciously set up His Church as a body of His people who serve Him. 4) Worship - Our worship is to be a sacrifice of praise to the one who is worthy - God, our Creator and Redeemer. 5) Service- God in grace gives us good works of service to bring glory to His name and serve others. Our Values." 11 Christ centered At RPC we believe Jesus is the Way the Truth and the Life. He is the only hope for the nations and it is His gospel we proclaim. 2) Gènuine Worship - Our praise seeks to incorporate contemporary worship songs alongside the traditional hymnody. 3) Reformed teaching - We have a Reformed perspective on theology which means we believe the Bible teaches certain things aboul God and man, the world and church. These distinctive views can be seen in our preaching, praying and community life. 4} Presbyterian ethos Our leadership subscribes to the Westminster Confession of Faith and we practice a Presbyterian form of governance. Public benefit The trustees have paid due regard to guidance issued by the Charily Commission in deciding what activities the charity should undertake.
RICHHILL PRESBYTERIAN CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Activities The congregation met for worship every Sunday, moming and evening, Visitors are made very welcome. Kirk Session agreed to have additional dates to serve the sacrament of the Lord's Supper. From March 2023 this was monthly, excluding July and August. Organisations: Sunday S¢hooll Grid { Bible Class) - Adult Bible Class... an opportunity for adults to be taught the foundations of our refomied fatth. ( at Sunday school time) Sunday crèche a safe, secure interactive environment for babieslpre nursery so that parents can benefit from the worship and teaching on a Sunday morning. RPC Kids...children's church where kids enjoy their own praise time and hear Bible truths. ( nursery to P3) Place... a Sunday night Bible based youth outreach encouraging fun and fellowship as they are discipled and find belonging in our church family. (y12- age 22) Ignite... a safe environment to interact with friends, play games, go on away trips and have the cpportunity for regular Bible input.{ yr 8 - 11) Toddle Inn... a place where babiesl pre nursery children with their parenv carer meet and enjoy sociavplay interaction. - Ambassadors. football partnership.. coaching sessions for primary/se¢ondary age children. - Zone P1-7 . .fvn,games and Bible presentation - Women's Bible Study ..... a weekly time to study God's Word. Men's I Women's Ministry... Encouraging the congregation to connect and grow in their faith. Midweekjgrowth groups/LOLMD groups.. Bible study and fellowship. GLEE...a support group for young adults with leaming disabilities. Bowling Club - Tuesday Club...a weekly space for retired folk within our church family and local communty. WASPS...a support group for widows and single people.
RICHHILL PRESBYTERIAN CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Achlevements and performance 1) Worship and prayer
The church family meets for worship each Sunday at 11am and 6:30 pm with tea, Coffee and fellowship after the morning service. This is an important aspect of how we enga9e together as a church family. The average moming attendance is approx. 450 and evening approx. 200. We continue to stream online both moming and evening services to facilitate and encourage those who are unable to attend in person. Average morning views are 200- 250 and evening views are 100-150. CDS are also distributed to those unable to access YouTube In September '23, Growing Young Disciples held an all day conference aimed at equipping young and old in our congregation ie parents, grandparents, children, key leaders and volunteers to deal with the Gurrent issues of identity. gender, technology, sexualisation, media and relationships. In October we were delighted lo hold our newcomers. lunch held every other year. This is an oppcrtunity for those who have recently joined RPC to get to know staff and elders. In June .23 we welcomed 22 people into full church membership. We acknowledged God's gift of new life at 5 Sacraments of infant Baptism, 8 adults were also baptised. We conducted 3 marriage services, and gave thanks for faithful seNices and sought to comfort those who had been bereaved during the year. At 31 December 2023 there were 415 communicant members and 132 families ¢onnected with the congregation. A consultation team. appointed by Armagh Presbytery, visited RPC in Spring '23. Overall the consullation team was extremely encouraged to hear how the Lord is at work amongst us. RPC is a vibrant and growing church and we have mu¢h to thank the Lord for. 2)Property.' The following recommendations were made in the consultation team's architectural report '. Replacement of 6 double glazed window units New front and rear doors as well as an inside garage door. All of this work has been Carried out at the manse. Other minor maintenance issues at the church are to be addressed. The Proposed construction of a new annexe was put on hold by Committee in December 2023 with altemative options to be explored. 3)Pastoral care Memb6rs of the congregation who are unable to attend church due to sickness or age are visited on a regular basis by the part lime pastoral minister. Rev Wilson Gordon, a member of the congregation, who is our voluntary Pastoral Care minister and also by our assistant minister Jeff Gawn. Elders and pastoral Care team members also offer practical support when required. All are supplied with a weekly CD of Sunday Worship. Kirk Session appointed a small working group to deal with staff issues and well being. A Code of Conduct for leaders and volunteers was circulated in December 2023.
RICHHILL PRESBYTERIAN CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 4)Mtssion and outreach Mission and outreach events continue to be Gentral to the purpose of the church. At a local level the congregation and its organisations exist to provide care and Christian love to the local community. Many unchurched families attend the weekly organisations.
Annual outreach events are held such as Holiday Bible Club which ran for 4 ¢onsecutive mornings in August reaching almost 200 children from nursery to P 7. Ambassadors hosted a free week of football camp in July with over 200 primary school children in attendance at the local football pitch. They hold family friendly services to which many un¢hurched come. An Addictions Support Group meets monthly in our church facility to offer help and support to thc6e struggling with a variety of addictions. A Christianity Explored course is held annually in the village café. The congregation supports the United Appeal for Mission which is a central fund of the Presbyterian Church in Ireland. We surpassed our target of £21,126.This fund enables congregations to support the wider mission of the denomination and to do mission and outreach on a denominational basis beyond what the congregation could do on tts own. The United Appeal Fund provides financial support for mission personnel at home and overseas, assists congregations with the deployment of locally based staff, enables church planting, provides grant support for the upkeep of church premises, assist with the running costs of Union Theological College, the Church's training college for ministry students, and financially supports congregation in the areas of worship, discipleship. global mission. outreach, leadership and pastoral care. Our Mission fund envelope collèction enables us to give generously to the work of God's Kingdom at home and worldwide. £98,180 was dispensed to our mission and charity partners. RPC continues to support prayerfvlly and financially our specffic missionary partners in Krakow and Spain. Small teams have gone out to work alongside our Spanish and Polish partners. Presbytery The monthly Presbytery meetings are attended by the minister and one representative elder. This provides an important link beeen the congregations and the wider structures of the church. GeneralAssembly The General Assembly meeting took place in June 2023 with a session held on the Saturday to facilitate those unable to attend due to work commitments. Volunteers The Trustees wish to acknowledge their deep appreciation of those who give freely of their time by serving on committees and helping with organisations and other church activities.
RICHHILL PRESBYTERIAN CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 PUBLIC BENEFIT STA TEMENT The Presbyterian Church in Ireland meets the public benefit requirement by providing benefit to its members and the general public by making known the Christian Gospel of the Lord Jesus Christ through the advanCent of religion. The direct benefits which flow from the purposes of the Church include the gaining of an understanding in Christian beliefs as set out in the Bible and in the Church's subordinate standards (the Westminster Confession of Faith and the Shorter and Larger Catechisms) leading to spiritual and moral development and opportunities for response to Bible teaching. In tum, this framework leads to practical expressions of Christian beliefs and standards in the local Community such as through the care of Ihose in need {including the sick, disabled and bereaved). Generally the above benefits are delivered locally by congregations and their members, or are facilitated through presbyteries or are organised and delivered centrally. Lo¢al delivery is facilitated by Central reswrces in almost all ¢ases. Public access is made known through the use of noticeboards, printed material, press advertisement, websites, and social media or in other ways. The benefits are demonstrated through regular evaluation of the seNices and informal and ad-hoc feedback from members, their families, and members of the public. The purpose does not lead to harm. The only private benefit flowing from our purpose is related to Ministers. Missionaries, Deaconesses, Irish Mission workers and Lay Agents who receive benefits as a result of their holding office or employment. However, this is incidental and necessary in order to further our charitable purpose. There are no other private benefits. The beneficiaries of this purpose are members, their families, other individuals that the Presbwerian Church in Ireland is in direct and indirect contact with, the community in which pastoral services are provided and other communities throughout Northern Ireland, the Republi¢ of Ireland. and worldwide which benefit from our engagement with and support for both Christian and other secular organisations, charities and individual members of the public. The Kirk Session has had regard to the Charity Commission's public benefit requirement statutory guidance. Flnancial revlew The results are set out in detsil on pages 11 to 22. The charity returned net incoming resources for the year of £66,323 (2022 - £22,011) leaving unrestricted funds of £1,740,271 12022 - £1,838,094) and restricted funds of £472,462 (2022 - £308,316). The congregalion's main source of income is members, contributions through the Weekly Freewill Offering. There were 282 contrÉbutors during the year donating a total of £277,612 {2022 - £252,283}. An increase of 10.03°/. from the previous year. The total net assets of the Congregation at the end of Ihe year was £2,212,733 restricted and unrestricted. Increase of 3.09°/. from the previous year. The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. Reserves 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 at leasl 12 months normal expenditure. At the year end the unrestricted reserves were £1.740,271 with cash balances of £786,782. The trustees consider it prudent to hold cash reserves of at least £300,000 as the funding of its present activities is dependent on the ongoing financial support of members.
RICHHILL PRESBYTERIAN CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Structure, governance and management The church is governed by the congregation's goveming document; The Gode, the book of Ihe constitution and government of the Presbyterian Church in Ireland The trustees who served during the year and up to the date of signature of the financial ststements were: Mr M McHugh Mr T Graham RevA McNeely Mr L Brownlee Mr T Ellison Mr Glen Evans Mr E Hanna Mr D Milligan Mr D Parr Mr M Vallelly Mr W Di)Tin Mr S Cardwell Mr S Thompson Mr R Cregan MrA Graham Mr D Black Mr S Strain Mr S Todd (Resigned 30 January 2023) (Resigned 18 June 2023) The Kirk Session The charity trustees of the congregation are the members of its Kirk Session. Under the congregation's goveming document, The Code, the book of the constitution and govemment of the Presbyterian Church in Ireland, the Kirk Session seeks to watch over and promote the spiritual interest of the congregation and of persons not connected with any congregation who are within its bounds. It ensures pastoral care is in place in the ¢ongregation and seeks to further the Contribution of the Church to Christian witness and Servi in the local community. The Kirk Session has delegated to its Congregational Committee the temporal affairs of the Congregation including administering all funds and property belonging to the Gongregation. Members of the Kirk Session are ex-officio members of the Congregational Committee. The Kirk Session consists of the ordained minister and the ruling elders of the congregations. All members are entitled to propose, speak and exercise equal votes at meetings, except that the Moderator, the mink%ter in active duty in the congregation, has no deliberative but only a casting vote. Stated meetings of the Kirk session are held at monthlyl six weekly intervals. To be chosen for the Offi of the eldership in the congregation a person must be a voting member and a regular attendant on its ordinances. The selection of those proposed to be called to the office Gan be either by the congregation or by the Kirk Session. Presbytery Under the Presbyterian Church in Ireland form of govemance the corporate oversight of a congregation is the responsibility of a Presbytery which superintends generally the spiritual and temporal affairs of the congregations assigned to it by the General Assembly of the Presbyterian Church in Ireland. Richhill Presbyterian Church has been assigned to the Armagh Presbytery of the Presbyterian Church in Ireland. The membership of the Presbytery consists mainly of the active ministers of Gongregations assigned to il by the General Assembly, minsters who have retired from active duty and an elder appointed by the Kirk Session of each congregation. Organisational structure The day to day running of the charity is overseen by the trustees.
RICHHILL PRESBYTERIAN CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The General Assembly The General Assembly is the supreme court of the Church, representing in one body the whole Church and acting as its supreme legislative, administration and judicial authority, in dealing with all matters brought before it. The General Assembly is normally constituted during the first week in June for worship and to conduct its business. At the end of business it is dissolved. The mèmbership of the Gèneral Assembly consists mainly of the active ministers of eaGh congregation, retired minsters and a representative elder appointed by the Kirk Session of each congregation. other matters At a congregational meeting on 29111123 RPC agreed to appoint the Presbyterian Church in Ireland Holding Trustees Company as the new trustees for RPC, replacing the Armagh Presbytery Education Board. Statement of trustees, responslbilitles The trustees are responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (Uniled Kingdom Generally Accepted Accounting Practice}. The law applicable to charities in Northem Ireland requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial ststements, the trustees are required to-. select suitable accounting policies and then apply them consistently., obseNe the methods and principles in the Charities SORP 2019 (FRS 102). make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act (Northem Ireland) 2008, the Charity (Accounts and Reports) Regulations (Northèrn Ireland) 2015 and the provisions of the Irust deed. They are also responsible for safeguarding the assets of th8 charty and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Dlsclosure of informatlon to audltor Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirrned that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information. The trustees, report was approved by the Board of Trustees. L_ Yll Ll4.5 It Mr M McHugh Trustee Rev A McNeely Trustee Date:
RICHHILL PRESBYTERIAN CHURCH INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF RICHHILL PRESBYTERIAN CHURCH Opinion We have audited the financial statements of Richhill Presbyterian Church (the 'charity') for the year ended 31 December 2023 which comprise the statement of financial activities, the statement of financial position, the statement of cash flows and notes to the financial statements, including significant accounting poltcies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally A¢¢epted Accounting Practice). In our opinion, the financial statements: give a true and fair view of the state of the charity's affairs as at 31 December 2023 and of its incoming resources and application of resources, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practio- and have been prepared in a¢¢ordance with the requirements of the Charities Act {Northem Ireland) 2008 and regulation 8 of the Charities {A¢counts and Reports) Regulations (Northern Ireland) 2015. Basis for opinion We conducted our audit in accordance with Intemational Stsndards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibiltties under those standards are further described in the Auditors responsibilities for the audit ol the financial statements se¢tion of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethi¢al Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfonned, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to Continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern a described in the relevant sections of this report.
RICHHILL PRESBYTERIAN CHURCH INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF RICHHILL PRESBYfERIAN CHURCH other inforn)atlon The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information Gontained within the annual report. Our opinion on the financial stst8ments does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is lo read the other information and, in doing so, consider whether the other infonnation is materially inconsistent with the financial statements or our knowledge oblained in the course of the audit, or otheNise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detemine whether this gives rise to a material misslatemerlt in the financial statements themselves. If, based on the work we have perfomied, we conclude that there is a material misstatement of this other infomiation, we are required to report that facl. We have nolhing to report in this regard. Matters on which we are requlred to report by excoption We have nothing to report in respect of the following matters in relalion to which the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 require us to report to you if, in our opinion.. the informalion given in the financial statements is inconsistent in any material respect with the Irustees. report., or sufficient accounting records have not been kept- or the financial statements are not in agreement with the accounting records. or we have not received all the information and explanations we require for our audit. Responsibilltles of trustees As explained more fully in the ststement of trustees, responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that Ihey give a true and fair view, and for such intemal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial ststements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements We have been appointed as auditor under section 6512> of the Charities Act {Northern Ireland) 2008 and report in accordance with regulations made under seclion 66 of that Act. Our objectives are to obtain reasonable assuran¢e about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstalement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
RICHHILL PRESBYTERIAN CHURCH INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF RICHHILL PRESBYTERIAN CHURCH Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. Extent to which the audit was considered capable of detecting irregularities, includlng fraud We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perfonn audit procedures responsive to those risks, including obtsining audit evidence that is sufficient and appropriate to provide a basis for our opinion. In identifying and assessing potential risks of material misstatement in respect of irregularitie4 including fraud and non-compliances with laws and regulations, we considered the following- The nature of the industry and sector, control environment and business performance, including the charity s remuneration policies for management committee, bonus levels and performance targets, if any; Results of our enquiries of management about their own identification and assessment of the risks of irregularities. Any matters we identified having obtained and reviewed the charity's documentstion of their policies and procedures relating to: Identifying, evaluating and complying with laws and regulations and whether they were aware of any instance of non-mpliance. Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud,. and The internal controls established to mitigate risks of fraud or non-compliance with laws and regulations-, The matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and potential indicators of fraud. As a result of these protsdures, we considered the opportuntties and incentives that may exist within the charity for fraud and identified the greatest potential for fraud in income re¢ognition. In common with all audits under ISAS (UK), we are also required to perfomi specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Charities Act (Northem Ireland) 2008. In addition, we considered provisions of other laws and regulations that do not have a direct effecl on the financial statements but Complian with which may be fundamental to the charity's ability to operate or to avoid a material penalty. 10-
RICHHILL PRESBYTERIAN CHURCH INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF RICHHILL PRESBYTERIAN CHURCH Audit response to rlsks Sdentlfled Our procedures to respond to the risks identified included the following.. Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements- Enquiring of management concerning actual and potential litigation and claims; Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud., Reading minutes of meetings of those charged with governance and reviewing correspondence with tax authorities., and In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments. assessing whether the judgements made in making accounting estimates are indicative of a potential bias- and evaluating the business rationale of any significant transactions Ihat are unusual or outside the normal course of business. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditin9 Standards. In addition, as with any audit, there remains a higher risk of non-detection of irregularities, as they may involve collusion, forgery, intentional omissions, misrepresentations. or the override of intemal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non- compliance with all laws and regulations. A further description of our responsibilities is available on the Financial Reporting Council's website at.. https:11 www.frc.org.uklauditorsresponsibilities. This description forms part of our auditorfs report. 11
RICHHILL PRESBYTERIAN CHURCH INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF RICHHILL PRESBYTERIAN CHURCH Use of our report This report is made solely to the charity's trustees. as a body. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations {Northern Ireland} 2015. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body for our audit work. for this report, or for the opinions we have fomied. Mr Stephen Houston FCA {Senior Statutory Auditor) for and on behalf of GMCG PORTADOWN Chartered Accountants Statutory Auditor 17 Mandeville Street Portadown Craigavon Co Armagh BT62 3PB 12-
RICHHILL PRESBYTERIAN CHURCH STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrèstricted Restrlcted funds funds 2023 2023 Total Unrèstricted Restricted funds funds 2022 2022 Total 2023 2022 Notes Income and endowments from: Donations and legacies Investments Other income 398.728 999 7,067 136,025 1,695 2,819 534,753 2,694 9,886 317,506 1,696 4,708 220,021 537,527 1,696 10,526 5,818 Total income 406,794 140.539 547,333 323,910 225,839 549,749 Expenditure on: Charitable activities 374,721 106.289 481,010 342.964 184,774 527,738 Total expenditure 374,721 106,289 481,010 342,964 184,774 527,738 Net income 32,073 34,250 66,323 {19,0541 41,065 22,011 Transfers between funds 12 (129,8961 129,896 Net movement in funds 197.823) 164,146 66,323 (19.054} 41,065 22,011 Recon¢illation of funds: Fund balances at 1 January 2023 1,838,094 308,316 2,146,410 1,857,148 267,251 2,124.399 Fund balances at 31 December 2023 1,740,271 472,462 2,212,733 1,838,094 308,316 2,146,410 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditur8 derive from continuing activities. 13-
RICHHILL PRESBYTERIAN CHURCH STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2023 2023 2022 Notes Fixed assets Tangible assets Investments 13 14 1,345,815 1,418 1,382,736 1,418 1,347,233 1.384,154 Current assets Debtors Cash al bank and in hand 16 83,458 786,782 76,452 690,424 870,240 766,876 Creditors: amounts falling due within one year 17 (4,740) (4,620) Net current assets 865,500 762,256 Total assets less current liabilities 2,212,733 2.146,410 Net assets excluding pension liability 2,212,733 2,146,410 The funds of the charity Restricted income funds Unrestricted funds 19 472,462 1,740.271 308,316 1,838,094 2,212,733 2,146.410 The financial statements were approved by the trustees on .. and signed on their behalf by: Mr M McHugh Trustee RevA McNeely Trustee 14-
RICHHILL PRESBYTERIAN CHURCH STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Notes Cash flows from operating activities Cash generaled from operations 22 96,152 61,222 Investlng activltles Purchase of tangible fixèd assets Investment income received (2,488) 2,694 113.6381 1,696 Net cash generated froml(u$ed in) investing activities 206 111,942) Net cash used in financlng activitles Net Increase In cash and cash equlvalents 96,358 49,280 Cash and cash equivalents at beginning of year 690,424 641.144 Cash and cash equlvalents at end of year 786,782 690,424 15-
RICHHILL PRESBYTERIAN CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies Charity information Richhill Presbyterian Church is a charity, registered with the Charity Commission in Northem Ireland. Its principal address is 6 CorGreevy Road, Richhill, Co Armagh, BT61 9JR. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's constitution, the Charities Act 2011, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland" {"FRS 102°) and the Charities SORP "Accounting and Reporting by Charities: 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 (FRS 102)" (effective 1 January 2019). The charity is a Publi Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial ststements have been prepared under the historical cost ¢onvention. The principal accounting policies adopted are set out below. 12 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the tnEtees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subjeGt to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1A Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are re¢ognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless perfomiance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is re¢ognised at the time of the donation. Income is deferred when it does not meet the Criteria for recognition as incoming resources in the Statement of Financial Activtties. as entitlement does not exist at the balan¢e sheet date. 1.5 Expenditure Expenditure is recognised on an accrual basis as a liability is in¢urred. Charitable expenditure comprises those costs incurred by the charity in the delivery of its a¢ttvities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature to support them. Support costs are those functions that assist work of the charity bLrt do not directly undertake charttable activities. Support and other costs have been allocated to Charitable activities based on actual usage by that activity. 16-
RICHHILL PRESBYTERIAN CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies {Continued) 1.6 Tangible fixed assets Tangible fixed assets are initially measured at Cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less U)eir residual values over their usefL¢I lives on the following bases.. Land and manse Church bLsildings Fixtures, fittings and equipment ooi. 2°/0 Straight line 20 % reducing balance No depreciation is charged on the land and manse as it is considered immaterial given the current value of land and property. 1.7 Flxed asset Investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel(expenditure) for the year. Transaction costs are expensed as incurred. 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Financial Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabililies are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the re¢ognised amounts and there is an intention to settle on a net basis or lo realise the assel and settle the liability simultaneously. Basic flnancial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including iransaction costs and are subsequently carried at amortised cost using Ihe effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabllltles Basic financial liabilities, including creditors and bank loans are irsitially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligalions to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are ¢lassified as current liabilities if payment is due within one year or ,'ess. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. 17-
RICHHILL PRESBYTERIAN CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies (Continued) Derecognition of financial liabilities Financial liabilities are derecognised when the charivs contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.11 Ret[rnent benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Critical a¢counting estimates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experients and other fadors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects ¢J)ly that period, or in the period of the revision and fLJture periods where the revision affects both current and future periods. Key sources of estimation uncertainty Fixed Assets The annual depreciation charge on fixed assets depends primarily on the estimated lives of each type of asset and estimates of residual values. The d1CtorS regularly review these assets lives and change them as necessary to reflect current thinking on remaining lives in light of prospective economic utilisaticn and physical condition of the assets concemed. Changes in assets lives can have a significant impact on depreciation charges for the period. Detail of the useful lives is included in the accounting policies. Restricted and Unrestricted Funds Judgements are made in relation to allocation of income and expenditure to restricted and unrestricted funds. The trustees consider it appropriate to allocate these funds based on donations received. Income from donations and legacies Unrestricted Restricted funds funds 2023 2023 Total Unrestricted Restricted funds funds 2022 2022 Total 2023 2022 Donations and gifts Regular direct giving 121,115 277,613 63,607 72,418 184,722 350.031 57,874 259,632 123,763 96,258 181,637 355,890 398,728 136,025 534,753 317,506 220,021 537,527 18-
RICHHILL PRESBYTERIAN CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Income from Investments Unrestricted Restrlcted funds funds 2023 2023 Total Unrestricted Restricted funds funds 2022 2022 Total 2023 2022 Intèrest receivable 999 1,695 2,694 1,696 1,696 Other income Unrestrlcted Restricted funds funds 2023 2023 Total Unrestricted Restricted funds funds 2022 2022 Total 2023 2022 Other incoming resources Small grants 4,067 3,000 2.819 6,886 3,000 1,308 3,400 5,818 7.126 3,400 7,067 2,819 9.886 4,708 5,818 10,526 Expendlture on charltable actlvlt18S Total 2023 Total 2022 Direct costs staff costs Depreciation and impairment Central Ministry Fund Presbyterian Orphan Sociely Grants to missions and charities Renl and rates 230,602 39,409 20,048 1,604 98.180 300 203,264 40,513 20,254 2,109 123,584 300 390,143 390,024 Sharo of support and governance costs (see note 7} Support Governance 86,037 4,830 132,728 4,986 481,010 527,738 Analysis by fund Unrestricted funds Restricted funds 374,721 106,289 342,964 184,774 481,010 527,738 19-
RICHHILL PRESBYTERIAN CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Support costs allocated to activities Total 2023 Total 2022 Bank charges Worship and fellowship Office costs Propety and equipment Utilities Sundries Insurance Govemance 590 24,624 26,955 57,422 2,659 14,978 5,500 4,986 21.718 21,936 14,901 2.735 17,927 5.973 4.830 90,867 137,714 Net movement in funds 2023 2022 The net movement in fvnds is stated after chargingl(crediting)- Fees payable for the audit of the charivs financial ststements Depre¢iation of owned tangible fixed assets 4,830 39,409 4,680 40,513 Trustees During the year the charity's minister, Reverend A M¢Neely, who is also a trustee, received a stirend with accompanying pension and support payments totalling £67,802 (2022 - £64,096} None of the other trustees received any remuneration or expenses in the year. 10 Employees The average monthly number of employees during the year was.. 2023 Number 2022 Number Employment costs 2023 2022 Wages and salaries Social security costs Other pension costs 201,955 13,491 15.156 177,753 10,976 14,535 230,602 203,264 -20-
RICHHILL PRESBYTERIAN CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 10 Employees Icontinued) The number of employees whose annual remuneration was more than £60,000 is as follows.. 2023 Number 2022 Number Minister Remuneration of key management personnel The remuneration of key management personnel was as follows.. 2023 2022 Aggregate compensation 85,906 81,682 11 Taxation The Ghariiy is exempt from taxation on its activities because all its income is applied for charitsble purposes. 12 Transfers Transfers between unrestricted and restricted funds relales to income in year of £66,250 relating unrestricted donations now reclassified for building fund use. The trustees took the decision lo reclassify Bequesl Funds as restricted funds in accordance with the bequests received by the charily and the stipulations attached to the bequesls. 13 Tanglble fixed assets Land and manse Church buildings Fixtures. fittings and oqulpment Total Cost At 1 January 2023 Additions 423,017 1,460,783 366.372 2,250,172 2,488 2,488 At 31 December 2023 423,017 1,460,783 368.860 2,252,660 Depreciation and impaim)ent At 1 January 2023 Depreciation charged in the year 550,809 29,216 316,627 10,193 867,436 39,409 At 31 December 2023 580,025 326,820 906,845 Carrying amount At 31 December 2023 423,017 880,758 42,040 1,345,815 At 31 December 2022 423,017 909,974 49,745 1,382,736 21
RICHHILL PRESBYfERIAN CHURCH NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 14 Fixed asset investments Unlisted investments Cost or valuation At 1 January 2023 & 31 December 2023 1,418 Carrying amount At 31 December 2023 1,418 At 31 December 2022 1,418 15 Financial instruments 2023 2022 Carrying amount of financial assets Instruments measured at fair value through profit or loss 1.418 1,418 16 Debtors 2023 2022 Amounts falling due within one year: Other debtors 83.458 76.452 17 Creditors: amounts falling due within one year 2023 2022 Accruals and deferred income 4,740 4,620 18 Retirement benefit schemes 2023 2022 Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes 15,156 14,535 The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. -22-
RICHHILL PRESBYTERIAN CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 19 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on Irust subject to specific conditions by donors as to how they may be used. At 1 January 2023 Incoming resources Resources expended Transfers At31 December 2023 Missions Fund Building Fund Bequests Bursary Fund Childrens. Fund 14,121 260,454 101,835 37,135 (87,897} {12,468) 28,059 351,371 63,646 29,206 180 66,250 63,646 33.526 215 (4,320) {1,6041 1,569 308,316 140,539 (106,289) 129,896 472,462 20 Analysis of net assets between funds Unrestricted funds 2023 Restricted funds 2023 Total 2023 At 31 December 2023: Tangible assets Investments Current assetsl(liabilities) 1,345,815 1.418 393,038 1,345,815 1.418 865,500 472,462 1.740,271 472.462 2,212,733 Unrestricted funds 2022 Restricted funds 2022 Total 2022 Al 31 December 2022: Tangible assets Investments Current asselsl(liabilitie5} 1,382,736 1,418 453.940 1,382,736 1,418 762,256 308,316 1,838,094 308.316 2,146,410 21 Related party transactions There were no disclosable related party transactions during the year (2022- none). -23-
RICHHILL PRESBYTERIAN CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Cash generated from operations 2023 2022 Surplus for the year 66,323 22,011 Adjustments for. Investment income recognised in statement of financial activities Depreciation and impairment of tangible fixed assets (2,694) 39.409 (1,6961 40,513 Movements in working Gapital: (Increase) in debtors Increase in creditors (7,006) 120 (2,666} 3,060 Cash generated from operations 96,152 61,222 23 Analysis of changes in net funds The charity had no material debt during the year. -24-