**Financial Statements** ## **Joymount Presbyterian Church Statement of Financial Activities For the year ending 31 December 2022** |**Notes**
**Income from:**
Regular direct giving
**2**
Donations and legacies
**3**
Other trading activities
**4**
Investments
**5**
Organisations
**6**
Other
**7**
**Total income**
**Expenditure on:**
Central Church assessments
**8**
Ministry and support staff
**9, 18**
Life and work
**10**
Grants to missions and charities
**11**
Property & equipment maintenance
**12**
Governance
**13**
Organisations
**6**
**Total expenditure**
**Net income**
Depreciation on buildings
Transfers between funds
**22**
Net loss on investment assets
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**22**
**Total funds carried forward**
**22**|**Unrestricted**
**Restricted**
**Total**
**Total**
**funds**
**funds**
**2022**
**2021**
**£**
**£**
**£**
**£**
134,151
30,951
165,102
179,140
4,726
-
4,726
16,737
2,363
-
2,363
230
899
-
899
624
-
14,461
14,461
6,911
1,624
4,580
6,204
571| |---|---| ||**143,763**
**49,992**
**193,755**
**204,213**| ||14,690
-
14,690
14,916
28,729
-
28,729
100,044
24,928
-
24,928
18,140
5,710
21,636
27,346
17,946
20,263
13,694
33,957
30,333
6,065
1,670
7,735
9,087
-
14,750
14,750
10,033| ||**100,385**
**51,750**
**152,135 200,499**| ||**43,378**
**(1,758)**
**41,620**
**3,714**
-
(8,360)
(8,360)
(8,360)
(100)
100 - -
- - - -| ||**43,278**
**(10,018)**
**33,260**
**(4,646)**
269,721
341,275
610,996
615,642| ||**312,999**
**331,257**
**644,256**
**610,996**| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 12 ## **Joymount Presbyterian Church Balance Sheet As at 31 December 2022** |**Notes**
**Fixed assets**
Tangible assets
**14**
**Total fixed assets**
**Current assets**
Debtors
**15**
Cash at bank and in hand
**16**
**Total current assets**
**Liabilities**
Creditors: Amounts falling due
**17**
within one year
**Net current assets**
**Total net assets**
**The funds of the charity:**
Unrestricted income funds
**22**
Restricted income funds
**22**
Restricted land & building fund
**22**
**Total charity funds**|**2022**
**£**
229,086
229,086
29,776
390,027
419,803
4,633
415,170
**644,256**
312,999
118,617
212,640
**644,256**|**2021**
**£**
236,043| |---|---|---| |||236,043| |||34,488
350,861| |||385,349| |||10,396| |||374,953| |||**610,996**| |||269,721
120,275
221,000| |||**610,996**| The trustees have prepared the financial statements in accordance with The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 for circulation to the members. The notes 1 to 23 form part of these financial statements. Approved by the trustees on 20th March 2023. Signed: Mr Stephen Drake Name: Mr Stephen Drake, Clerk of Session on behalf of the trustees 13 ## **Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2022** ## **1 Accounting policies** The principal accounting policies that have been adopted consistently throughout the year and the prior year are summarised below. ## **1.1 Basis of preparation** The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015. The financial statements have been prepared under the historical cost convention except for investment assets, which are shown at market value. The financial statements include all transactions, assets and liabilities for which the congregation is responsible in law. They do not include the accounts of church groups that owe their affiliation to another body, nor those that are informal gatherings of church members. Joymount Presbyterian Church meets the definition of a public benefit entity under FRS 102. ## **1.2 Fund accounting** Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds are primarily from the receipt of Free Will Offerings and loose collections from the congregation. Restricted funds comprise (a) restricted income funds and (b) restricted land and building fund. These are detailed below. Restricted income funds are funds which are to be used in accordance with specific restrictions imposed by the donor. Restricted income funds are from the collection of congregational offerings to the Church's property account and for the Presbyterian Church in Ireland's (PCI) various appeals. The income received by the various church organisations is also restricted for use in the respective organisations. Restricted land and building fund is the fund created on the initial recognition of the land and buildings owned by the church which have not previously been recorded. The only movement on this fund each year is the expensing of the depreciation on land and buildings. Further details can be found at note 14. ## **1.3 Income recognition** All income is recognised once the charity has entitlement to the income, it is virtually certain that the income will be received and the amount of income receivable can be measured reliably. Where income received has related expenditure (as with fundraising income) the income and related expenditure are reported gross in the Statement of Financial Activities. ## **Regular direct giving** Regular direct giving receipts relate to offerings received from the congregation and are recognised on receipt when the church has unconditional entitlement to the income. ## **Donation and legacies** Donations and legacies are recognised on receipt unless otherwise notified of a settlement date. The nature of the charity as a church means that donations do not usually have conditions attached which may result in the deferral of recognising income. 14 **Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2022** ## **1 Accounting policies (continued)** ## **Tax reclaims on donations and gifts** Income from Gift Aid (included under Regular direct giving) is included in the Statement of Financial Activities at the same time as the donation or gift to which they relate. ## **Investments** Interest on funds held on deposit is recognised when receivable and the amount can be measured reliably by the charity. ## **Gifts in kind** Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for use by the charity are included in the Statement of Financial Activities as income when receivable. ## **Donated services and facilities** These are only included in income (with the equivalent amount in expenditure) where the benefit to the church is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the church of the service or facility received. ## **Volunteer help** The value of any voluntary help received is not included in the financial statements but is described in the trustees' annual report. ## **1.4 Expenditure recognition** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. ## **1.5 Irrecoverable VAT** Irrecoverable VAT is charged against the expenditure heading for which it was incurred. ## **1.6 Tangible fixed assets** Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Assets for use by the church are capitalised if they can be used for more than one year and cost at least £2,500. They are valued at cost or, if gifted, at the value to the charity on receipt. Depreciation is provided on all tangible fixed assets other than land at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows: Buildings: 50 years Fixtures & fittings: 10 years ## **1.7 Creditors and provisions** Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount. 15 **Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2022** ## **1 Accounting policies (continued)** ## **1.8 Employee benefits** The minister of the congregation is a member of the Presbyterian Church in Ireland Pension Scheme (2009). This is a scheme operated by the Presbyterian Church in Ireland, a separate registered charity. The church pays an assessment to the Presbyterian Church in Ireland equivalent to the employer's pension contribution for the Scheme and based on the stipend paid to the minister. The Presbyterian Church in Ireland Pension Scheme (2009) is a funded Scheme of the defined benefit type, providing defined benefits based on career average revalued salary. The Scheme has assets held in a separately administered fund managed by the board of trustees. The Presbyterian Church and the Scheme trustees have agreed a funding plan to ensure the Scheme is sufficiently funded to meet current and future obligations. A formal schedule of contributions was drawn up on 25 November 2015 whereby the Presbyterian Church agreed to pay from 31 December 2015 contributions of 24% of pensionable salaries to cover accrual of benefits for future service, expenses, the cost of insuring death in service benefits and funding the scheme deficit. The church operates a defined contribution pension scheme for its employees. The scheme and its assets are held by an independent scheme manager. The pension charge represents the contributions due by the church during the year. The charity recognises a cost equal to their contribution payable for the period in their statement of financial activities. ## **2 Regular direct giving** |Recorded giving
Donations - property
Gift Aid
Loose collections
United Appeal
World Development Appeal|**Unrestricted**
**Restricted**
**2022**
**2021**
**£**
**£**
**£**
**£**
114,150
11,769
**125,919**133,856
-
-
**-**
-
17,491
6,317
**23,808**
31,012
2,510
-**2,510**
836
- 11,263
**11,263**
11,736
- 1,602**1,602**
1,700| |---|---| ||134,151
30,951
**165,102**
179,140| ## **3 Donations and legacies** |Gift days, special collections and donations
Legacies and bequests
HMRC CJRS grant|**Unrestricted**
**Restricted**
**2022**
**2021**
**£**
**£**
**£**
**£**
4,506
-
**4,506**
10,489
220
-
**220**
4,148
-
-
**-**
2,100| |---|---| ||4,726
-
**4,726**
16,737| During the year the church was grateful to receive bequests amounting to £220. The donors did not impose any restrictions on the use of these funds, therefore they are held as unrestricted reserves for use at the trustees' discretion. 16 **Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2022** ## **4 Other trading activities** |Income from church events
Sale of books, etc.
Weddings, funerals, etc.|**Unrestricted**
**Restricted**
**2022**
**2021**
**£**
**£**
**£**
**£**
1,973
-
**1,973**
-
390
-
**390**
-
-
-
**-**
230| |---|---| ||2,363
-**2,363**
230| ## **5 Investment income** |**5**
**Investment income**||| |---|---|---| |Bank & Building Society interest
Other investment income
**6**
**Organisations' income and expenditure**
Thursday Sale
Indoor Bowling Club
Art Group
PW
Boys' Brigade
Girls' Brigade
Girls' Brigade Camp
Tots & Co.
Friendship Club
Coffee at Bus Stop|**Unrestricted**
**£**
681
218|**Restricted**
**2022**
**2021**
**£**
**£**
**£**
-**681**550
-**218**
74| ||899|-**899**
624| |||**Surplus /**
**Income**
**Expenditure**
**(Deficit)**
**£**
**£**
**£**
-
3,173 (3,173)
315
325
(10)
-
4 (4)
3,111 2,831
280
1,475
1,766
(291)
5,257
4,533
724
9
23
(14)
2,818
1,023
1,795
1,083
711
372
393
361
32| |||**14,461 14,750**
**(289)**| 17 **Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2022** ## **7 Other income** |Moderator's Appeal
Miscellaneous income|**Unrestricted**
**Restricted**
**2022**
**2021**
**£**
**£**
**£**
**£**
-
4,580**4,580**-
1,624
-**1,624**571| |---|---| ||1,624
4,580**6,204**571| **8 Central Church assessments** |**Central Church assessments**|| |---|---| |Central Ministry Fund
Retired Ministers' Fund
Widows of Ministers' Fund
Prolonged Disability Fund
Incidental Fund
Ministerial Development Fund
Assembly Buildings' External Work
Sick Supply Fund
Students' Bursary Fund|**Unrestricted**
**Restricted**
**2022**
**2021**
**£**
**£**
**£**
**£**
4,791
-
**4,791**
5,188
-
-
**-**
-
997
-
**997**
1,189
798
-
**798**
865
3,693
-
**3,693**
3,999
458
-
**458**
562
1,996
-
**1,996**
2,270
60
-
**60**
87
1,897
-
**1,897**
756| ||14,691
-**14,691**
14,916| **9 Ministry and support staff** |Minister's stipend, pension and expenses
Other Ministry and Support Staff
**Life and work**
Worship and Fellowship
Discipleship and Ministry
Mission and Outreach|**Unrestricted**
**Restricted**
**2022**
**2021**
**£**
**£**
**£**
**£**
-
-
**-**
64,816
28,729
-
**28,729**
35,228| |---|---| ||28,729
-
**28,729**
100,044| ||**Unrestricted**
**Restricted**
**2022**
**2021**
**£**
**£**
**£**
**£**
12,394
-**12,394**
6,272
12,109 -
**12,109**
11,067
425 -
**425**
801| ||24,928
-**24,928**
18,140| ## **10 Life and work** 18 **Joymount Presbyterian Church** ## **Notes to the Financial Statements For the year ended 31 December 2022** ## **11 Grants to missions and charities** |**Grants to missions and charities**|| |---|---| |United Appeal
World Development Appeal
PCI Moderator's Appeal
Other missions and charities|**Unrestricted**
**Restricted**
**2022**
**2021**
**£**
**£**
**£**
**£**
- 14,314
**14,314**
14,300
- 1,900**1,900**
2,040
- 5,422**5,422**
-
5,710
-**5,710**
1,606| ||5,710
21,636
**27,346**
17,946| ## **12 Property and equipment maintenance** |**Property and equipment maintenance**|| |---|---| |Utilities
Repairs and maintenance
Insurances
Leasing
Depreciation – fixtures & fittings|**Unrestricted**
**Restricted**
**2022**
**2021**
**£**
**£**
**£**
**£**
12,078 -
**12,078**
7,593
1,296
12,477
**13,773**
16,472
5,001 -
**5,001**
3,502
1,108 -
**1,108**
1,108
780
1,217
**1,997**
1,658| ||20,263
13,694
**33,957**
30,333| ## **13 Governance** |**Governance**|| |---|---| |Other professional services
Independent Examination
Advertising, printing, etc.
Sundry expenses
Bank interest and charges|**Unrestricted**
**Restricted**
**2022**
**2021**
**£**
**£**
**£**
**£**
700
1,670**2,370**
700
200
-
**200**
200
2,455
-**2,455**
4,660
2,257
-**2,257**
3,172
453
-**453**355| ||6,065
1,670
**7,735**
9,087| 19 **Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2022** ## **14 Fixed Assets** |**Fixed Assets**||| |---|---|---| |**Cost or valuation**
At 1 January 2022
Additions
At 31 December 2022
**Depreciation**
At 1 January 2022
Charge for the year
At 31 December 2022
**Net book value**
At 1 January 2022
At 31 December 2022|**Buildings**
**£**
423,040
-|**Fixtures &**
**Fittings**
**Total**
**£**
**£**
46,431
**469,471**
3,400
**3,400**| ||423,040|49,831
**472,871**| ||197,101
8,461|36,327
**233,428**
1,896
**10,357**| ||205,562|38,223
**243,785**| ||225,939|10,104
**236,043**| ||217,478|
11,608
**229,086**| Buildings have been recognised at the date of transition to FRS 102 and the Charities SORP (FRS 102). The buildings comprise the Church building, church halls, church office and the manse and their contents. The buildings which were built or purchased within the past 50 years have been recorded on a historical cost basis with associated accumulated depreciation based on a useful economic life of 50 years. Buildings that are older than 50 years are considered to be fully depreciated. ## **15 Debtors** |**Debtors**|| |---|---| |Accrued interest income
Gift Aid to be claimed
Prepayments|**2022**
**2021**
**£**
**£**
**14**
7
**26,118**
30,209
**3,644**
4,272| ||**29,776**
34,488| 20 ## **Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2022** ## **16 Cash at bank and in hand** |**Cash at bank and in hand**|| |---|---| |No. 1 account
Property account
No. 5 account
No. 6 account
Church Hall Extension account
Investment accounts
Organisations' accounts balances|**2022**
**2021**
**£**
**£**
**159,258**
118,403
**56,341**
59,833
**70,936**
70,716
**1,584**
824
**2,300**
1,400
**80,576**
80,364
**19,032**
19,321| ||**390,027**350,861| ## **17 Creditors** |**Creditors**|| |---|---| |United Appeal accrual
Other PCI accrued donations
Taxation and social security costs
Other accrued expenses
**Staff costs and employee benefits**
Gross salaries and wages
Social security costs
Minister pension costs
Staff pension costs
Ministry expenses|**2022**
**2021**
**£**
**£**
**-**
8,300
**1,900**
-
**593**
513
**2,140**
1,583| ||**4,633**
10,396| ||**2022**
**2021**
**£**
**£**
**28,729**
79,715
**-**
-
**-**
10,267
**-**
-
**-**
10,062| ||**28,729**
100,044| ## **18 Staff costs and employee benefits** There were no employees who received total employee benefits in excess of £60,000 as detailed below (2021: one). The key management personnel of the charity, the Church, comprise the trustees (members of the Kirk Session) and the minister. The total employee benefits of the key management personnel of the Church were £0 (2021: £64,816). The minister retired towards the end of 2021 and a new minister was installed early in 2023 and therefore there were no minister costs throughout 2022. 21 **Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2022** ## **19 Staff numbers** The average employee head count for the year was as follows: ||**2022**||**2021**|| |---|---|---|---|---| ||**£**||**£**|| |Minister and Assistant Minister||**-**
||2| |Other staff||**4**
||4| |||**4**
||6| ## **20 Trustees' expenses and remuneration** There were seven trustees who received expenses during the year amounting to £1,013. There was one trustees who received remuneration during the year. Hilary McGavock received gross remuneration amounting to £8,234 (2021: £7,788) for her administrative role in the Church which is separate from her duties as a trustee. This remuneration is as determined and permitted by Kirk Session. ## **21 Related party transactions** Please refer to note 20 for transactions with trustees during the year. During the year the congregation contributed the following amounts to Funds of the General Assembly of the Presbyterian Church in Ireland, a separate charity: £14,690 for congregational assessments £14,314 towards the United Appeal £2,040 towards the World Development Appeal £5,422 towards the Moderator's Appeal £2,025 towards the Presbyterian Children's Society The congregation contributed £892 towards Presbytery Assessments during the year. During the year, fees were paid to Madigan Electronics, a business owned by Andrew McKeegan a trustee. These fees were in respect of IT support and equipment maintenance amounting to £10,975. There were no other related party transactions. 22 **Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2022** ## **22 Analysis of movement in charitable funds** |**nalysis of movement in charitable funds**|| |---|---| |Unrestricted income funds
Restricted income funds
Restricted land & building fund|**Balance at**
**Balance at**
**01/01/2022**
**Income**
**Expenditure**
**Transfers**
**31/12/2022**
**£**
**£**
**£**
**£**
**£**
269,721
143.763
(100,385)
(100) 312,999
120,275
49,992
(51,750)
100 118,617
221,000
-
(8,360)
-
212,640| ||610,996
193,755(160,495)
-
644,256| During the year, a total of £100 was transferred from the General No. 1 account (which is unrestricted funds) to the Property account. The trustees have considered it appropriate to recognise this transfer therefore leaving the cash in the property bank account for future restricted property use. Details of each fund can be found at note 1.2. ## **23 Analysis of net assets between funds** |Tangible fixed assets
Cash at bank and in hand
Other net current assets/(liabilities)
Creditors of more than one year|**Unrestricted**
**Restricted**
**Restricted**
**funds**
**funds**
**L&B funds**
**Total**
**£**
**£**
**£**
**£**
4,200 12,246
212,640
229,086
288,073
101,954
- 390,027
20,726
4,417
-
25,143
-
- - -| |---|---| ||312,999
118,617
212,640
644,256| 23