Ballyclare Congregation of The Presbylerian Church in Ireland Statement of financlal activities For the year ended 31 December 2023 Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Total funds 2022 Note Income from: Donations and legacies Charitable activities Investments 180N73 75,113 84,872 255,585 84,872 1.017 675.244 2,896 256 1,017 Total income 181N90 159,985 341,475 678.396 Expenditure on: Charttable activities 162,167 153,330 315,497 257,519 Total expenditure 162.167 153.330 315A97 2S7,519 Net Income before net gainsl(losses) on inveslrnents Gains on investments 19.323 47.526 6,655 39,354 25,978 86,880 420.877 (45,301) Net movement In funds 66,849 46,009 112.858 375.576 Reconciliation of funds: Total funds brought forward Net movement in funds 638.638 66.849 445.798 46.009 1,084,435 112,858 708,859 375.576 Total furbds carried forward 705,487 491,807 1,197,294 1,084.435 The Statement of Financial Actiwttes includes all gains and losses recognised in the year. The notes on pages 12 to 22 fo￿ part of these financial statements. Page 10 Ballyclare Congregation of The Presbyterian Church in Ireland Balance Sheet As at 31 December 2023 2023 2022 Note Fixed assets Investments 807.141 735.059 807.141 735,059 Current assets Debtors Cash at bank and in hand 32,839 371814 37.681 313,696 404,253 351,377 Creditors: amounts falling due wtthin one year 10 114,100) (2.000) Net current assets 390.153 349.377 Total assets less current liabilities 1.197.294 1.084,436 Net assets excluding pension asset 1,197,294 1,084,436 Total net assets 1.197,294 1.084.436 Charity funds Restricted funds Unrestricted fvnds 11 491,807 705,487 445.798 638,638 11 Total funds 1,197,294 1,084,436 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: Rev. Jonathan Moxen Mr Niall Mcconkey Dat8.' 1 June 2024 The notes on page$ 12 to 22 fomi part of these financk?I statements. Page 11 Ballyclare Congregation of The Presbyterian Church in Ireland Notes to the Financial Statements For the year ended 31 December 2023 Accounting policies 1.1 Basls of preparation of financial statements The financial statements have b*n prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended practi￿ 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 2015), the Financial Reporting Standard applicable In the UK and Republtc of Ireland (FRS 102) and the Charities Act (Northern Ireland) 2008. Ball￿[are Congregation of The Presbyterian Church in Ireland meets the definition of a public benefft entty under FRS 102. Assets and liabilit￿S are initialty recognised at historical cost or transaction value unless otherwise stated in the relevant accwnting policy. 1.2 Income All inct)me is recognised On￿ the charity has entiuement to the income. it Is probable that the income will be received and the amount of income receivable can be measured reliably. The recognitK)n of income from legacies is dependent on establishing entitlement. the probabilty of re￿Ipt and the abilty 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 and the death of the benefactor) and the executor is 5atlsfied Ihat the property In question will nol be required to satisfy claims in the estate. Re￿Ipt of a legacy must be recognised vthen it is probable that it will be recetved and the fair value of the amount recewable, which will generally be the expected cash amount to be distributed to the charity, can be reliabty measured. Income tax recoverable in relation to investment income is recognised at the time the investment income is re￿1Vable. 1.3 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, 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 activity. The costs of each activrty are made up of the total of direct costs and shared costs. including support costs involved in undertaking each activrty. Direct costs attributable to a single activity are allocated directly to that actiwty. Shaied costs vrtiiLh contribute to more than one activty and support costs which are not attributable to a single adiv5ty are apportioned betsveen those actrvttie5 on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spen( and depreciation charges allocated on the porbon of the assevs use. Expenditure on charitable activtties is incurred on directly undertaking the activities which further the charitys objectives. as well as any associated support costs. Ati expenditure is inclusive of irrecoverable VAT. 1.4 Investments Fixed asset investrnents are a fomi of financial instrument and are initially rec¢)gnised at their transaction cost and subsequently measured at fair value at the Balance Sheet date. unless the value cannot be measured reliabty in wh￿h case it is measured at cost less impairrnent. Investment gains and 10¥8es. whether realised or unrealised. are Gombined anrj piesewittxj as 'Gain51(L055e5) on investments. in the Statement of Financial Actiwties. Page 12 Baltyclare Congregation of The Presbyterian Church in Ireland Notes to the Flnancial Statements For the year ended 31 December 2023 Accounting pollcies (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-term highly INuid investments with a short maturity of three months or less from the date of acquisiti.on or opening of the deposit or similar account. 1.7 LFabilities and provisions abilities are recognised when there is an obligation at the Balance Sheet date as a resu￿ of a past event, it is probable that a transfer of economic benefft will be required in setuement, 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 received as advanced payThents for the gr￿$ or service5 It must provide. Provisions are measured at the best estimate of the amounts required to setue 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 pre4ax discount rate that reflects the risks specific to the liability. The unwnding of the discount is recognised in the Statement of Financial Activtties as a finance cost. 1.8 Flnancial instruments The charity onty has financial assets and financial liabilit￿S of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequenuy measured at amortised cost using the effective interest rneth￿J. 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 use of each designated fund is set out in the notes to the financial stalements. Restrided funds are funds whtch are to be used in accordan￿ with $peCff￿ restrictions irnposed 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 notes to the financial statements. Investrnent income, gains and ktsses are all￿ated to the appropriate fund. Page 13 Ballyclare Congregation of The Presbyterian Church in Ireland Notes to the Financial Statements For the year ended 31 December 2023 Income from donations and legacies Unrestricted Restrlcted funds funds 2023 2023 Total funds 2023 Total funds 2022 Donations Freewll Offering Propety account Mission account Special collections LcKJse colledions Gift Aid Misc. donations Legacies Bequests 125,619 125,619 34.518 32,126 13.860 6.377 33,475 9,563 119,004 33.155 30,337 5.839 2.323 32,967 10,839 34,518 32,126 13,860 6,377 25.006 9,563 8.469 423,706 Subtotal detailed disclosure 180.473 75.113 255,586 675.244 Total 2023 180,473 75.113 255,586 675.244 Total 2022 178.470 496,774 675.244 Income from charltable activities Reslricted funds 2023 Total funds 2023 Total funds 2022 Solar Panels Organisations Organisations - opening balance 3.628 45.297 35.947 3,628 45.297 35,947 2,896 Total 2023 84.872 84,872 2.896 Total 2022 2.896 2,896 Page 14 Ballyclare Congregation of The Presbyterian Church in Ireland Notes to the Financlal Statements For the year ended 31 December 2023 Inveslment income Unrestrfcted funds 2023 Total funds 2023 Total funds 2022 Bank Interest 1,017 1,017 256 Tdal 2022 256 256 Analysis of expenditure on charitable aclivities Summary by fund type Unrestrfcted Restri¢ted funds funds 2023 2023 Total 2023 Total 2022 Minister Assistsnt Minister Deaconess Assessments Congregational running expenses Donations to Missions and charities Miscel￿ne0us Investment charges AudiUAccountancy fees Youth aetiviknes Organisations 53,050 9.537 53,050 9,537 50.195 10,354 24,022 80.032 48,555 14,951 24,554 2,370 2,486 24.878 32,873 4,173 16.087 7,228 24.878 89,085 50,931 16,087 14,798 2.000 12,341 42,790 56.212 46,758 7.570 12,341 42.790 Total 2023 162.167 153.330 315.497 257,519 Total 2022 152,000 105,519 257.519 Independent examinerfs remuneration The independent examinerfs remuneration amounts to an independent examiner fee of £1.600 (2022 audit fee- £2.000). Page 15 Ballyclare Congregation of The Presbyterian Church in Ireland Notes to the Financial Ststements For the year ended 31 December 2023 Staff costs 2023 2022 Wages and salaries Social security costs 65.829 4,405 67,651 4,296 70,234 71.947 The average number of persons ￿p10yed by the charity during the ypar was as follows: 2023 No. 2022 No. No employee re￿iVed remuneratKJn amounting to more than £60.000 in either year. Fixed asset Investments Listed investments Cost or valuation At 1 January 2023 Revaluations 735.059 72,082 At 31 Decen*)er 2023 807,141 Net book value At 31 December 2023 807,141 At 31 December 2022 735,059 Page 16 Ballyclare Congregation of The Presbyterian Church in Ireland Notes to the Financial Statements For the year ended 31 December 2023 Debtors 2023 2022 Due within one year PrepayThents and accrued inwme 32,839 37,681 32,839 37.681 10. Creditors: Amounts falling due within one year 2023 2022 Other loa Accnjals and deferred income 12.500 1.600 2,000 14,100 2.000 other loans is comprised of a £12.500 interest free loan which can be recalled partialty or in full wthin 90 days notice to the Church. Page 17 Ballyclare Congregation of The Presbyterian Church in Ireland Notes to the Flnancial Statements For the year ended 31 December 2023 11. Statement of funds ststement of funds - current year Balance at 31 Gainsl December {Losses) 2023 Balance at 1 January 2023 Income Expenditure Unrestricted funds Designated funds Designated Funds 437.030 437.030 General funds General FurKIs 201,608 181A90 1162,16n 47.526 268,457 Total Unrestricted funds 638,638 181,490 (162,167) 47,526 705,487 Restricted funds Restrided Funds - all funds 445,798 159.985 11S3,330} 39,354 491,807 Total of funds 1,084A36 341,475 (315,497) 86.880 1,197,294 Page 18 Baltyclare Congregation of The Presbyterian Church in Ireland Notes to the Financial Statements For the year ended 31 December 2023 11. Statement of funds (continued) Statement of funds - prlor year Balance at 31 Gainsl De￿mber (Losses) 2022 Balance at 1 January 2022 Income Expendrture Unrestrlcted funds Designated funds Desunated Funds 437.030 437,030 General funds General Funds 206.758 178,726 (165,255) (18.621) 201,608 Totsl Unrestricted funds 643,788 178,726 {165,255) (18.6211 638,638 Restricted funds Restricted Funds- all funds 65,072 499.670 {92,498) (26,446) 445,798 Total of funds 708.860 678.396 {257.753) (45,067) 1,084,436 Page19 Baltyclare Congregation of The Presbyterian Church In Ireland Notes lo the Financlal Statements For the year ended 31 December 2023 12. Summary of funds Summary of funds - current year Balance at 31 Gainsl December (Losses} 2023 Balance at 1 January 2023 Income Expenditure Designated funds General funds Restricted funds 437.030 201,608 445,798 437,030 268,457 491.807 181.490 159,985 (162.167} 1153,330) 47,526 39.354 1,084,436 341,475 (315,497) 86,880 1,197.294 Summary of funds- prioryear Balance at 31 Gainsl December Total 710.881 373,554 1,084,435 14. Related party transactions There were no related party transadions during the year ended 31 December 2023. Page21 Ballyclare Congregation of The Presbyterian Chur¢h In Ireland Notes to the Financial Statements For the year ended 31 December 2023 15. Funds held by Organisations Opening balance 2023 Total funds 2023 Income Expendlture 2023 2023 Midweek Fellowship Parent & Friends Girls Association Church Flowers 8￿Ing Club PWA Church Account PWA Youth Council Junior Sedion BB Anchor Club Youth Fellowship Junior Youth Club Senb)r Youth Club Anchor Boys Church Choir 1st Ballyclare BB Parents & Friends Mums & Tots 1 sl Ballyclare BB Company Section Girls Brigade 3671h Conpany Friends of Dorston Group 309 (309) {30} (407) 983 1,149 10 953 1,101 10 6,053 10 1,325 359 5.3 2.223 (1.526) 10 1,245 150 163 195 2,429 (2,349) (150) 163 1.215 1,030 1.162 55 2.103 1,401 1.219 (1,083) (1.430) (1.126) 1.059 1.069 55 3,741 3,567 6,400 8,437 2,042 4.196 1.331 19.444 10,592 (1,084) {1,302) (21,153> {10.841} 6.853 3,596 4,691 8.188 2.042 35,947 45.297 (42.790) 38,454 The note al)ove shows Income and expenditure from organisatK)ns held within the Church, an opening balance of funds held has been shown as this is the first year this is included in Church accounts. These funds are not un¢Jer direct control of the trustees of the congregation. Page 22