## Armagh Road (Portadown) Congregation of The Presbyterian Church in Ireland 

## 1. Accounting Policies 

## Basis of Financial Statements 

As the total income of the congregation is less than £250,000 the congregation have elected in accordance with the provisions in the Charities (Accounts and Reports Regulations) (Northern Ireland) 2015 to prepare its accounts on a receipts and payments basis. 

## Fund Accounting 

Endowment funds are funds, the capital of which must be retained either permanently or at the congregation’s discretion; the income derived from the endowment is to be used either as restricted or unrestricted income funds depending on the purpose for which the endowment was established in the first place. 

Restricted funds comprise (a) income from the endowment which is to be expended only on the restricted purposes intended by the donor and (b) revenue donations or grants for a specific congregational activity intended by the donor. Where these funds have unspent balances, interest on their pooled investment is apportioned to the individual funds on an average basis. 

Unrestricted funds are income which is to be spent on the congregation’s general purposes. 

Designated funds are general funds set aside by the congregation for use in the future. 

## Armagh Road congregation of the Presbyterian Church in Ireland 

## STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Accounts) for the year ending 31[st] December 2022 

||Note|||||
|---|---|---|---|---|---|
|**Receipts**||Unrestricted|Restricted|Total funds|Total funds 2021|
|||£|£|£|£|
|Regular direct giving|1|91,465|19,783|111,248|113,181|
|||£|£|£|£|
|Donations and Legacies|2|42,077|82,000|124,077|52,826|



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|||£|£|£|£|
|---|---|---|---|---|---|
|Activities that generate Income|3|481|800|1,281|582|
|Investment||£|£|£|£|
|income|4|541|766|1,307|857|
|||£|<br>£|£|£|
|Other|5|2|2,619|2,621|4,679|
|||£|£|£|£|
|**Total Income**||134,566|105,968|240,534|172,125|
|**Payments**||||||
|||£|£|<br>£|£|
|Central church assessments|6|17,940|-|17,940|17,181|
|||£|£|<br>£|£|
|Ministry and support Staff|7|61,388|-|61,388|58,596|
|||£|£|<br>£|£|
|Life and Work|8|1,894|-|1,894|1,403|
|||£|£|£|£|
|Governance|9|12,591|4,597|17,188|15,856|
|||£|£|£|£|
|Grants to Charities and Missions|10|2,437|13,575|16,012|15,104|
|||£|<br>£|£|£|
|Other|11|-|3,216|3,216|3,050|
|||£|£|£|£|
|**Total Payments**||96,250|21,388|117,638|111,190|
|||£|£|£|£|
|**Net Receipts/(Payments)**||38,316|84,580|122,896|60,935|
|||£|<br>£|£|£|
|Transfers to / (from) funds||-|1,481|1,481|191|
|||£|<br>-£|-£|-£|
|||-|2,731|2,731|191|
|||£|<br>£|<br>£|<br>£|
|**Gains/Losses on investment assets**||-|-|-|-|
|||£|£|£|£|
|**Surplus/ (deficit for year)**||38,316|83,330|121,646|60,935|
|**Reconciliation 31/12 2022**||||||
|Cash at bank & in hand 31st Dec||£|£|£|£|
|2021||25,586|189,941|215,527|154,592|
|||£|£|£|£|
|Surplus(deficit) this year end||38,316|83,330|121,646|60,935|
|Cash at bank& in hand 31st Dec.||£|£|£|£|
|2022||63,902|273,271|337,173|215,527|



**Bank balances 2022** 

2 



||£|£|£|
|---|---|---|---|
|No1 General|63,902|193|64,095|
||£|<br>£|£|
|No2 Property|-|266,232|266,232|
||£|<br>£|£|
|Organisational|-|6,846|6,846|
||£|£|£|
||63,902|273,271|337,173|



## **Fixes Assets** 

The congregation owns the property at 27 Church Street Portadown and the associated fixtures, fittings, plant and machinery. 

These have an insurance value of £2,062,094 for the church and £1,516,245 for the halls. The manse currently occupied by the minister has an insurance value of £406,354. 

## **Investments** 

|**Investments**|||||
|---|---|---|---|---|
||Unrestricted|Restricted|Total funds|Total funds 2021|
||£|<br>£|£|£|
|General Investment Fund|-|39,926|39,926|43,502|
||£|<br>£|£|£|
|Other|-|2,875|2,875|2,616|



## **Statement of assets and Liabilities** 

## **Assets** 

|**Assets**|||||
|---|---|---|---|---|
||Unrestricted|Restricted|Total funds|Total funds 2021|
|Cash at bank|||||
||£|£|£|£|
|General account|63,902|193|64,095|25,586|
||£|<br>£|£|£|
|Property account|-|266,232|266,232|181,055|
||£|<br>£|£|£|
|Other|-|6,846|6,846|8,886|
||£|£|£|£|
||63,902|273,271|337,173|215,527|



**Liabilities** NIL 

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