Joymount Presbyterian Church Statement of Financial Activities For the year ending 31 December 2023
| 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 movement in funds Reconciliation of funds: Total funds brought forward 22 Total funds carried forward 22 |
Unrestricted Restricted Total Total funds funds 2023 2022 £ £ £ £ 155,816 33,402 189,218 165,102 8,924 - 8,924 4,726 424 - 424 2,363 1,182 23 1,205 899 - 15,075 15,075 14,461 3,272 - 3,272 6,204 |
|---|---|
| 169,618 48,500 218,118 193,755 |
|
| 15,261 - 15,261 14,690 92,355 - 92,355 28,729 22,746 - 22,746 24,928 6,284 18,068 24,352 27,346 22,123 28,961 51,084 33,957 8,974 - 8,974 7,735 - 16,530 16,530 14,750 |
|
| 167,743 63,559 231,302 152,135 |
|
| 1,875 (15,059) (13,184) 41,620 - (8,360) (8,360) (8,360) (4,684) 4,684 - - |
|
| (2,809) (18,735) (21,544) 33,260 312,999 331,257 644,256 615,642 |
|
| 310,190 312,522 622,712 648,902 |
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 2023
| 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 & buildings fund 22 Total charity funds |
2023 £ 222,366 222,366 29,960 379,641 409,601 9,256 400,346 622,712 310,190 108,242 204,280 622,712 |
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 |
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 18 March 2024
13
Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2023
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.
14
Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2023
1 Accounting policies (continued)
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.
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 and liabilities 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 and fittings: 10 years
15
Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2023
1 Accounting policies (continued)
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.
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 Recorded giving Gift Aid Loose collections United Appeal World Development Appeal |
Unrestricted Restricted 2023 £ £ £ 128,433 12,925 141,358 - 64 64 22,600 5,418 28,018 4,783 - 4,783 - 12,571 12,571 - 2,424 2,424 |
|---|---|
| 155,816 33,402 189,218 |
|
| Unrestricted Restricted 2022 £ £ £ 114,150 11,769 125,919 17,491 6,317 23,808 2,510 - 2,510 - 11,263 11,263 - 1,602 1,602 |
|
| 134,151 30,951 165,102 |
16
Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2023
3 Donations and legacies
| Donations and legacies | |
|---|---|
| Gift days, special collections and donations Legacies and bequests Electricity grants |
Unrestricted Restricted 2023 2022 £ £ £ £ 2,169 - 2,169 4,506 5,555 - 5,555 220 1,200 - 1,200 - |
| 8,924 - 8,924 4,726 |
During the year the church was grateful to receive bequests amounting to £5,555. 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.
Donations and legacies income for 2022 was fully unrestricted.
4 Other trading activities
| Income from Church events Sale of books, etc. |
Unrestricted Restricted 2023 2022 £ £ £ £ - - - 1,973 424 - 424 390 |
|---|---|
| 424 - 424 2,363 |
Other trading activities income for 2022 was fully unrestricted.
5 Investment income
| Bank & Building Society interest Other investment income Bank & Building Society interest Other investment income |
Unrestricted Restricted 2023 £ £ £ 691 23 691 491 - 491 |
|---|---|
| 1,182 23 1,182 |
|
| Unrestricted Restricted 2022 £ £ £ 681 - 681 218 - 218 |
|
| 899 - 899 |
17
Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2023
6 Organisations' income and expenditure
| Organisations' income and expenditure | |
|---|---|
| Organisations 2023 Thursday Sale Indoor Bowling Club PW Boys' Brigade Girls' Brigade Tots & Co. Friendship Club Coffee at Bus Stop Organisations 2022 Thursday Sale Indoor Bowling Club Art Group PW Boys' Brigade Girls' Brigade Girls' Brigade Camp MUFC Tots & Co. Friendship Club Coffee at Bus Stop Other income Moderator's Appeal Miscellaneous income Moderator's Appeal Miscellaneous income |
Surplus / Income Expenditure (Deficit) £ £ £ - 2,002 (2,002) 392 419 (27) 4,516 4,134 382 512 332 180 4,558 5,176 (618) 3,315 2,749 566 1,403 1,457 (54) 379 261 118 |
| 15,075 16,530 (1,455) |
|
| 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) |
|
| Unrestricted Restricted 2023 £ £ £ - - - 3,272 - 3,272 |
|
| 3,272 - 3,272 |
|
| Unrestricted Restricted 2022 £ £ £ - 4,580 4,580 1,624 - 1,624 |
|
| 1,624 4,580 6,204 |
7 Other income
18
Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2023
8 Central Church assessments
| Central Church assessments | |
|---|---|
| Central Ministry 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 2023 2022 £ £ £ £ 4,853 - 4,853 4,791 992 - 992 997 992 - 992 798 3,970 - 3,970 3,693 441 - 441 458 2,205 - 2,205 1,996 44 - 44 60 1,764 - 1,764 1,897 |
| 15,261 - 15,261 14,690 |
Central Church assessments expenditure is unrestricted each year therefore no additional breakdown of the prior year's figures is required.
9 Ministry and support staff
| Ministry and support staff | |
|---|---|
| Minister's stipend, pension and expenses Other Ministry and Support Staff |
Unrestricted Restricted 2023 2022 £ £ £ £ 59,821 - 59,821 - 32,534 - 32,534 28,729 |
| 92,355 - 92,355 28,729 |
Ministry and support staff costs are unrestricted each year therefore no additional breakdown of the prior year's figures is required.
10 Life and work
| Life and work | |
|---|---|
| Worship and Fellowship Discipleship and Ministry Mission and Outreach |
Unrestricted Restricted 2023 2022 £ £ £ £ 15,276 - 15,276 12,394 3,987 - 3,987 12,109 3,483 - 3,483 425 |
| 22,746 - 22,746 24,928 |
Life and work costs are unrestricted each year therefore no additional breakdown of the prior year's figures is required.
11 Grants to missions and charities
| United Appeal World Development Appeal PCI Student Bursary fund Other missions and charities |
Unrestricted Restricted 2023 £ £ £ - 14,920 14,920 - 3,148 3,148 1,100 - 1,100 5,184 - 5,184 |
|---|---|
| 6,284 18,068 24,352 |
19
Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2023
11 Grants to missions and charities cont'd
| Grants to missions and charities cont'd | |
|---|---|
| United Appeal World Development Appeal PCI Moderator's Appeal Other missions and charities Property and equipment maintenance Utilities Repairs and maintenance Insurances Leasing Depreciation Utilities Repairs and maintenance Insurances Leasing Depreciation Governance Other professional services Independent Examination Advertising, printing, etc. Sundry expenses Bank interest and charges Other professional services Independent Examination Advertising, printing, etc. Sundry expenses Bank interest and charges |
Unrestricted Restricted 2022 £ £ £ - 14,314 14,314 - 1,900 1,900 - 5,422 5,422 5,710 - 5,710 |
| 5,710 21,636 27,346 |
|
| Unrestricted Restricted 2023 £ £ £ 13,280 - 13,280 2,515 27,743 30,258 4,168 - 4,168 976 - 976 1,184 1,218 2,402 |
|
| 22,123 28,961 51,084 |
|
| Unrestricted Restricted 2022 £ £ £ 12,078 - 12,078 1,296 12,477 13,773 5,001 - 5,001 1,108 - 1,108 780 1,217 1,997 |
|
| 20,263 13,694 33,957 |
|
| Unrestricted Restricted 2023 £ £ £ 800 - 800 250 - 250 3,300 - 3,300 4,178 - 4,178 446 - 446 |
|
| 8,974 - 8,974 |
|
| Unrestricted Restricted 2022 £ £ £ 700 1,670 2,370 200 - 200 2,455 - 2,455 2,257 - 2,257 453 - 453 |
|
| 6,065 1,670 7,735 |
12 Property and equipment maintenance
13 Governance
20
Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2023
14 Fixed Assets
| Fixed Assets | |
|---|---|
| Cost or valuation At 1 January 2023 Additions At 31 December 2023 Depreciation At 1 January 2023 Charge for the year At 31 December 2023 Net book value At 1 January 2023 At 31 December 2023 |
Fixtures & Buildings Fittings Total £ £ £ 423,040 49,831 472,871 - 4,042 4,042 |
| 423,040 53,873 476,913 |
|
| 205,562 38,223 243,785 8,461 2,301 10,762 |
|
| 214,023 40,524 254,547 |
|
| 217,478 11,608 229,086 |
|
| 209,017 13,349 222,366 |
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 Other debtors Prepayments |
2023 2022 £ £ 49 14 26,758 26,118 531 - 2,622 3,644 |
| 29,960 29,776 |
16 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 |
2023 2022 £ £ 155,921 159,258 48,589 56,341 76,522 70,936 - 1,584 - 2,300 81,031 80,576 17,578 19,032 |
|---|---|
| 379,641 390,027 |
21
Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2023
17 Creditors
| United Appeal accrual Other PCI accrued donations Taxation and social security costs Other accrued expenses |
2023 2022 £ £ 3,920 - 3,148 1,900 751 593 1,437 2,140 |
|---|---|
| 9,256 4,633 |
18 Staff costs and employee benefits
| Gross salaries and wages Social security costs Minister pension costs Staff pension costs Ministry expenses |
2023 2022 £ £ 76,785 28,729 - - 9,410 - 57 - 6,103 - |
|---|---|
| 92,355 28,729 |
There were no employees who received total employee benefits in excess of £60,000 (2022: none).
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 £59,821 (2022: £nil). 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.
19 Staff numbers
The average employee head count for the year was as follows:
| Minister and Assistant Minister Other staff |
2023 2022 £ £ 1 - 4 4 |
|---|---|
| 5 4 |
20 Trustees' expenses and remuneration
There were no trustees who received expenses during the year amounting.
There was one trustees who received remuneration during the year.
Hilary McGavock received gross remuneration amounting to £8,920 (2022: £8,234) 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.
22
Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2023
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:
£15,261 for congregational assessments
£14,920 towards the United Appeal
£3,148 towards the World Development Appeal
£1,100 towards the PCI Student Bursary fund
£1,200 towards the Presbyterian Children's Society
The congregation contributed £894 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 £10,451 (2022: £10,975).
There were no other related party transactions.
22 Analysis of movement in charitable funds
| Unrestricted income funds Restricted income funds Restricted land & buildings fund |
Balance at Fund Balance at 01/01/2023 Income Expenditure transfers 31/12/2023 £ £ £ £ £ 312,999 169,618 (167,743) (4,684) 310,190 118,617 48,500 (63,559) 4,684 108,242 212,640 - (8,360) - 204,280 |
|---|---|
| 644,256 218,118 (239,662) - 622,712 |
During the year, a total of £4,684 was transferred from the No. 6 account and the Church Hall Extension account (which are 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.
| Unrestricted income funds Restricted income funds Restricted land & buildings fund |
Balance at Fund 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 |
Details of each fund can be found at note 1.2.
23
Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2023
23 Analysis of net assets between funds
| 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 Tangible fixed assets Cash at bank and in hand Other net current assets/(liabilities) Creditors of more than one year |
Unrestricted Restricted Restricted 2023 funds funds L&B funds Total £ £ £ £ 7,057 11,029 204,280 222,366 280,778 98,863 - 379,641 22,355 (1,650) - 20,705 - - - - |
| 310,190 108,242 204,280 622,712 |
|
| Unrestricted Restricted Restricted 2022 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 |
24