Ballyclare Congregation of The Presbyterian Church in Ireland Statement of financial activities For the year ended 31 December 2022 Unrestricted funds 2022 Restricted funds 2022 Total funds 2022 Total funds 2021 Note Income from: Donations and legacies Charitable activities Investments 178,470 496,774 2,896 675,244 2,896 256 205,579 2,796 305 2.171 256 Other income Total income 178,726 499,670 678,396 210,851 Expenditure on: Charitable adivities 152,000 105,519 257,519 257,615 Total expenditure 152.000 105,519 257.519 257.615 Net incomel(expenditurel before net (losses}Igains on investments Gains on investments 26,726 (18,855) 394,151 (26,446) 420,877 (45,301) (46,764) 34,540 Net movement in funds 7.871 367,705 375.576 {12,224) Reconciliation of funds: Total funds brought forward Net movement in funds 643,788 7,¥371 65,072 367,705 708,859 375,576 721,083 (12,224) Total funds carried forward 651,659 432,777 1,084.436 708,859 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 13 to 20 form part of these financial statements. Page 10
Bally¢lare Congregation of The Presbyterian Church in Ireland Balance Sheet As at 31 December 2022 2022 2021 Note Fixed assets Investments 735,059 404,914 735,059 404,914 Current assets Debtors Cash at bank and in hand 10 37,681 313,696 37,396 267,800 351.377 305,196 Creditors= amounts falling due within one year 11 (2,000) {1,250} Net Current assets 349.377 303,946 Total assets less current liabilities 1,084,436 708,860 Net assets excluding pension asset 1,084,436 708,860 Total net assets 1.084,436 708,860 Charity funds Restricted funds Unrestricted funds 445,798 638,638 65,072 643,788 Total funds 1,084,436 708,860 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Rev. Jonathan Moxen Mr Niall Mcconkey Date.. 19 September 2023 The notes on pages 13 to 20 form part of these financial statements. Page11
Ballyclare Congregation of The Presbyterian Church in Ireland Statement of Cash Flows For the year ended 31 December 2022 2022 2021 Cash flows from operating activities Net cash used in operating activities 445,896 (40,481) Cash flows from investing activities Purchase of investments (400.000) Net cash (used in)Iprovided by investing activities (400,0001 Cash flows from financing activities Net cash provided by financlng activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 45,896 {40.481) 308.281 267,800 Cash and cash equivalents at the end of the year 313,696 267,800 The notes on pages 13 to 20 fomi part of these financial statements Page 12
Ballyclare Congregation of The Presbyterian Church in Ireland Notes to the Financial Statements For the year ended 31 December 2022 Accounting policles 1.1 Basls of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP (FRS 102) 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 20151, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act (Northern Ireland) 2008. Ballyclare Congregation of The Presbyterian Church in Ireland meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 1.2 Income All income is recognised once the charity has entitlement to the income. it is probable that the income will be received and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable. which will generally be the expected cash amount to be distributed to the charity, can be reliably measured. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. other incomè is recognised in the period <n which it is receivable and to the extent the goods have been provided or on completion of the servi. 1.3 Expendlture Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by adivity. The costs of each activity are made up of the total of direct costs and shared costs, including sUPPOrt costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activty and support costs which are not attributable to a single activity are apportioned beeen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on directly undertaking the activities which further Ihe charitls objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 1.4 Investments Fixed asset investments are a form of financial instrument and are initially recognised at their transaction c05t and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'Gainsl{Lossesl on investments, in the Statement of Financial Activities. Page 13
Ballyclare Congregation of The Presbyterian Church in Ireland Notes to the Financial Statements For the year ended 31 December 2022 Accounting policles {continued) 1.5 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.6 Cash at bank and in hand Cash at bank and in hand includes cash and short-temi highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.7 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has reIVed as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. 1.8 Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measureo at their Qettlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 1.9 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the noles to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Page 14
Ballyclare Congregation of The Presbyterian Church in Ireland Notes to the Financial Statements For the year ended 31 December 2022 Income from donations and legacies Unrestrlcted Restrlcted funds funds 2022 2022 Total funds 2022 Total funds 2021 Donatlons Freewill Offering Property account Mission account Special collections Loose collections Gift Aid Mis¢. donations Legacies Bequests Legacies 119,004 119.004 33,155 30,337 5,839 2,323 32,967 10.839 114,771 25,490 16,622 2,230 851 33,155 30,337 5.839 2.323 23,391 10,839 9,576 36,794 8.821 17,074 17,074 423,706 423,706 Subtotal detailed disclosure 178,470 496.774 675,244 205,579 Total 2022 178,470 496,774 675,244 205.579 Total 2021 154,856 50,723 205,579 Income from charitable activities Restri¢ted funds 2022 Total funds 2022 Total funds 2021 Solar Panels 2,896 2,896 2,796 Total 2021 2,796 2,796 Page 15
Ballyclare Congregation of T5ie Presbyterian Church in Ireland Notes to the Financial Statements For the year ended 31 December 2022 Investment Income Unrestricted funds 2022 Total funds 2022 Total funds 2021 Bank Interest 256 256 305 Total 2021 305 305 Other incoming resources Restricted funds 2022 Total funds 2022 Total funds 2021 CJRS Furlough receipts 2.171 Total 2021 2,171 2,171 Page 16
Ballyclare Congregation of The Presbyterian Church in Ireland Notes to the Financial Statements For the year ended 31 December 2022 Analysis of expenditure on charitable activities Summary by fund type Unrestricted Restricted funds funds 2022 2022 Total 2022 Total 2021 Minister Deaconess Assessments Congregational running expenses Donations to Missions and Charities Miscellaneous Investment charges AudiUA¢countancy fees Youth room and activities 50,195 10,354 24,022 20,176 21,272 14,951 6,174 2,370 2,486 50,195 10.354 24.022 80.032 48,555 14.951 24.554 2.370 2,486 49,101 16,322 24.465 55,898 77.338 15.327 6,323 1.560 11.281 59,856 27,283 18,380 152,000 105,519 257.519 257,615 Total 2021 194,285 63,330 257,615 14uditors' remuneration The auditors, remuneration amounts to an auditor fee of £2,000 (Independent Examiner fee 2021 £1,250). Page 17
Ballyclare Congregation of The Presbyterian Church in Ireland Notes to the Financial Statements For the year onded 31 December 2022 Staff costs 2022 2021 Wages and salaries Social security costs 67,651 4,296 71,136 3,912 71,947 75,048 The average number of persons employed by the charity during the year was as follows.. 2022 2021 No. No employee received remuneration amounting to more than ¢60,000 in either year. Fixed asset investments Listed investments *OSt or Vliluation At 1 January 2022 Additions Revaluations 404,914 400,000 {69.855) At 31 December 2022 735.059 Net book value At 31 December 2022 735,059 At 31 Dember 2021 404,914 Page 18
Ballyc¥are Congregation of The Presbiiterian Church in Ireland Notes to the Financial Statements For the year ended 31 December 2022 10. Debtors 2022 2021 Due within one year Prepayments and accrued income 37,681 37,396 37,681 37,396 11. Creditors: Amounts falling due within one year 2022 2021 Accruals and deferred income 2,000 1,250 12. Summary of funds Summary of funds - current year Balance at 31 Gain December (Losses) 2022 Balance at 1 January 2022 Income Expenditure De?oignated funds General funds Restricted funds 437,030 206,758 65,072 43t'.030 20 1,608 445.798 178,726 499,670 (165,255) (92,498) (18,621 (26,446) 708,860 678,396 {257,753) {45,067) 1,084,436 Summary of funds - prlor year Balance at 31 December 2021 Balance at 1 January 2021 Transfers inlout Gainsl (Losses) Income Expenditure Designated funds General funds Restricted funds 483,582 174.790 62.711 (46,552) 36.552 10,000 437.030 206.758 65.071 155.161 55,690 (194,285) (63,330) 34,540 721,083 210,851 (257,615) 34,540 708,859 Page 19
Ballyclare Cosigregation of The Presbyterian Church in Ireland Notes to the Financial Statements For the year ended 31 December 2022 13. Reconciliation of net movement in funds to net Gash flow from operating activities 2022 2021 Net incomelexpenditure for the year (as per Statement of Financial Activities) 375,576 (12,224) Adjustments for: Revaluation on investments Increase in debtors Increase in creditors 69,855 (2851 750 (28,217) (40) Net cash provided byl(used In) operating activities 445,896 {40.481) 14. Analysis of cash and cash equivalents 2022 2021 Cash iri ,iand 313,696 267.800 Total cash and cash equivalents 313,696 267,800 15. Aiia5iJsis of changes in net debt At1 Januarv 2022 Cash flov At31 December 2022 Cash at bank and in hand 267,800 45,896 313,696 267.800 45,896 313.696 16. Related party transactions There were no related party transactions during the year ended 31 December 2022. Page 20