an FIRST DONEGORE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND srATEMENT OF FINANCIAL AcfiviTY for the year ended 31 December 2023 Note Unrestrirted Funds Restrirted Endowment Funds Funds Total 2023 Total 2022 Income from: Donations and legacies Charitable activities Other trading activities Investment Income Other 93,588 60,773 5,155 2,154 1,986 154,361 5,155 2,548 4,084 319 132,231 4,064 1,025 428 715 394 2,098 319 Total Income 96,399 70,068 166,467 138,463 Expendlture on: Raising funds Cha rlta ble activltles Other (544) 1100,391} (8,1981 (544) {5441 (174,108) (146,5871 18,198) (8,198) (73,717) Total Expendlture (109,133) (73,717) (182,850) (155,329) Net Income / (Expenditure) Transfers between funds {12,734) (3,649) (16,383) (16,886) 116 (116} Net movement In funds Funds brought forward {12,618) 472,028 13,765) 164,854 (16,383) (16,886) 645,221 662,087 8,339 Funds carried forward 16 459,410 161.089 8,339 628,838 645,221 13
an FIRST DONEGORE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND BALANCE SHEET As at 31 December 2023 Note 2023 2022 Flxed Assets Tangible Fixed Assets Total flxed assets 12 249,248 249,248 257,446 257,446 Current Assets Debtors Cash and cash equivalents Total current asset5 13 14 43,543 339,197 382,741 36,952 352,348 389,300 Credltors- amount5 fallln8 due wlthln one year Accruals 15 3,150 3,150 1,525 1,525 Total creditors Net Current Assets 379,591 387,775 Total net Assets 628,839 645,221 Funds of the charlty Unrestricted funds General funds Total unrestritted funds Restrlrted Funds Endowment Funds 16 459,408 459,408 161,092 8,339 472,028 472,028 164,854 8,339 16 16 Total charlty funds 628,839 645,221 The financial statement5 have been prepared in accordance with Accountlng and Reporting bycharities.. 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 IFRS 1021- (Charities SORP {FRS 1021). They have been approved by th Kir&eSSion on (enter datel and signed on its behalf Joh Mccullagh Michael McKinstry 23, May 2024 23,° May 2024 14
an FIRST DONEGORE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2023 I. ACCOUNTING POLICIES BASIS OF FINANCIAL sfATEMENT5 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 1021. The church meets the definition of a public benefit entity as defined in section 34 of FRS 102. Assets and liabilities are initially recognised at historical cost and transaction value unless Otherwise stated in the relevant accounting policy note{s), FUNDACCOUNTING Endowment funds are funds, the capital of whlch must be retained either permanently or at the congregatlon's discretion; the income derived from the endowment is to be used either as restricted or unrestricted income funds depending upon the purpose for which the endowment was establlshed in the first place. Restricted funds comprise (a) income from endowments whlch is to be expended only on the restricted purposes intended by the donor and Ibl revenue donations or 8rants for a specific congregational activity intended by the donor. Where these funds have unspent balances, interest on their pooled investrnent is apportioned to the individual funds on an average balance basis. Unrestricted funds are income funds whlch are to be spent on the congregation's general purposes. Designated funds are general funds set aside by the con8re8ation for use in the future. INCOMING RESOURCES Recognltlon of Incomlng resources These are included in the Statement of Financial Activities (SOFA) when: The congregation becomes entitled to the resources; It is probable that the funds will be received; and The monetary value can be measured with sufficient reliability. 15
an FIRST DONEGORE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) 31 December 2023 I. ACCOUNTING POLICIES (cont'd) Incomlng resources wlth related expendlture Where incoming resources have related expenditure (as with insurance proceeds) the incoming resources and related expenditure are reported gross in the SOFA. (iii) Grants and donatlons Grants and donations are only included in the SOFA when the congregation has unconditional entitlement to the resources. (Iv) Tax reclaims on donatlons and glfts Incomlng resources from tax reclaims are included in the SOFA at the same time as the gift to whlch they relate. (v) Contrartual Income and performance related grants This Is only Included in the SOFA once the related goods or ser4ices have been delivered, Glfts In klnd Gifts in kind are accounted for at a reasonable estimate of their value to the charlty or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incomin8 resources when receivable. (vll) Donated servlces and facllltles These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, rneasurable and material. The value place on these resources is the estimated value to the Charity of the service or facility received. (vlii) Investment Income This is included in the accounts in the period to which it relates. Investment galns and1055es This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. 16
an FIRST DONEGORE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'dj 31 December 2023 I. ACCOUNTING POLICIES (cont'd) EXPENDITURE AND LIABILITIES Llablllty recognltlon Liabillties are recognised as soon as there is a legal or constructive obligation committing the congregation to pay out resources. Governance costs These are shown within charitable activities and include the costs of preparation and examination of accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters. (111) Grants wlth perforrnance condltlons Where the charity gives a 8rant with conditions for it5 payment being a speclfic level of seNice or output to be provided, such grants are only reco8nised in the SOFA once the recipient of the 8rant has provided the specified service or output. Grants payable wlthout performance condltlons These are only reco8nised in the accounts when a commitment has been made and there are no conditions to be met relatin8 to the grant which remain in the control of the charitv. Support costs Support costs Include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, e.g. allocating property costs by floor areas, or pér capita, staff costs by the time spent and other costs by their usa8e. 17
an FIRST DONEGORE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) 31 December 2023 I. ACCOUNTING POLICIES (cont'd) ASSETS Tanglble Flxed Assets Tangible fixed assets for use by the charity are capitalised if they Can be used for more than one year, and cost at least £2,000. They are valued at cost, or if gifted, at the value to the charity on receipt, Depreciation is recorded on all tangible assets other than freehold land, at rates calculated to wrlte of the cost, less estimated residual value, of each asset over its expected useful life as follows,, Buildlngs: over 50 years In accordance with FRS102, assets under construction are not depreciated until such times as they are available for use. Investments Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees, best estimate of market value. 18
an FIRST DONEGORE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) 31 December 2023 2. DONATIONS AND LEGACIES Unrestricted Funds Restrlcted Endowment Funds Funds Total 2023 Total 2022 Recorded giving: L005e collections Donations and gifts Gift Aid Legacies and bequest 75,801 1,147 16,640 13,225 38,067 9,481 89,026 39,214 26,121 90,007 20,538 21,686 93,588 60,773 154,361 132,231 3. CHARITABLE ACTIVITIES Unrestrlcted Funds Restrlrted Endowment Funds Funds Total 2023 Total 2022 Income from charitable activities Fees from weddings and funerals Fundraising events Membershlp fees Grants 2,055 2,055 379 2,185 1,500 3,100 3,100 5,155 5,155 4,064 4. OTHER TRADING ACTIVITIES Unrestritted Funds Restrlcted Endowment Funds Funds Total 2023 Total 2022 Trading income 394 2,154 2,548 1,025 394 2,154 2,548 1,025 19
an FIRST DONEGORE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) 31 December 2023 5. INVESTMENT INCOME Unrestritted Funds Restrirted Funds Endowment Funds Total 2023 Total 2022 Deposit interest 2,098 1,986 4,084 428 2,098 1,986 4,084 428 OTHER INCOME Unrestrlrted Funds Restrlcted Funds Endowment Funds Total 2023 Total 2022 Other income 319 319 715 319 319 715 RAISING FUNDS Unrestrlrte d Funds Restrlcted Endowment Funds Funds Total 2023 Total 2022 FWO envelopes Fundraising events 544 544 544 544 544 544 20
an FIRST DONEGORE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) 310ecember 2023 CHARITABLE ACTIVITIES Unrestrlcted Funds Restrlcted Endowment Funds Funds Total 2023 Total 2022 General Assernbly Assessment5 Presbytery fees Ministry and support CQSts (Note 10) 16,492 1,270 60,200 16,492 1,270 60,200 15,777 1,272 49,061 Congregational runnlng expenses Donations to Missions and charities Governance costs 21,929 40,115 33,602 62,044 33,602 53,979 26,078 500 500 420 100,391 73,717 174, 108 146,587 OTHER EXPENDITURE Unrestrlcted Funds Restrlrted Endowment Funds Funds Total 2023 Total 2022 Depreciation 8,198 8,198 8,198 8,198 8,198 8,198 21
an FIRST DONEGORE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELANO NOTES TO THE ACCOUNTS (cont'd) 31 December 2023 10. EMPLOYEES Employment Costs Total Funds 2023 Total Funds 2022 Ministers Stipend Ministers Allowance Wages and Salaries Employers National Insurance Social Security Costs Other cost5 35,091 8,126 13,076 3,699 33,420 7,310 4,514 3,545 208 272 60,200 49,061 Number of Ernployees The average number of employees, Including the minlster of the con8regation, expressed as full time equivalents, durin8 the year was. Total 2023 Total 2022 Average number of employees There were no employees in receipt of employee benefits in excess of £60,000. 22
an FIRST DONEGORE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) 31 December 2023 11. PENSION COSTS 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 re8iStered charity. The congregation pays an assessment to the Presbyterian Church in Ireland equlvalent to the employerfs pension contribution for the Scheme and based on the stipend paid to the minister. The pre$berlan 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 adminlstered fund managed by a board of trustees. The Presbyterian Church and the Scheme Trustees have agreed a funding plan to ensure the Schemè Is sufficiently funded to meet current and future obligations. The contributions made by the congregation during the year were. Total Funds 2023 Total Funds 2022 Contributions 8,422 8,021 23
an FIRST DONEGORE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE AccouKfs (cont'd) 31 December 2023 12. TANGIBLE FIXED ASSETS Land & Buildings Total Cost At beglnnin8 of the year Additions Dlsposals At end of the year 415,885 415,885 415,885 415,885 Depreclatlon At beginning of the year Depreciation Disposals At end of the year 158,439 8,198 158,439 8,198 166,637 166,637 Net book value at beglnnlng of the year Net book value at end of the year 257,446 249,248 257,446 249,248 The main church is a Ilsted building, therefore has been treated as a heritage asset, and not included in 5t the accounts. The main church is fully insured for a value of £974,829, as at 31 October 2017. 13. DEBTORS 2023 2022 Gift Aid Recoverable Accrued Income (IR 22123 PAYE &so) 40,528 15,805 3,015 43,543 21,147 36,952 24
an FIRST DONEGORE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) 31 December 2023 14. CASH AT BANK AND IN HAND 2023 2022 Cash at Bank Cash in Hand 338,861 338 339,199 342,573 252 342,824 15. CREDITORS 2023 2022 Accruals 3,150 3,150 1,525 1,525 25
an FIRST DONEGORE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOU NTS (cont'd) 31 December 2023 16. FUND BALANCES Fund Balance at start Recelpts Payment Surplus1 {Deflclt Transfer Balance at end Unrestrfcted Funds General Revenue 472,028 96,396 1109,133) (12,621) 116 459,407 472,028 96,396 1109,1331 {12,6211 116 459,407 Restritted Funds Property/Building Fund United Appeal General Missions Fund World Development Children's Society Chrlstlan Aid Earl Haig Fund Other charitable objects Harvest Appeal From Church Organisations Sunday School Presbyterian Women Youth Fellowship Friendship Club Boys Brigade Girls Brigade Bowling Club JUMP Youth Club Mothers & Toddlers 144,919 1,103 8,998 13,786 6,730 13,513 1,030 1,666 5,413 124,949) 111,287) 16,980) (243) 16,160) 5,295 11,030) {1,666) (5,4131 1501 (17,6421 1124) 133,632 860 14,293 12,058) 50 17,642 (820) (4631 12291 820 473 18201 291 1, 105 18 1,076 1,078 3,457 1,339 1,161 309 10 483 301 1,588 18 1,076 2,189 4,386 1,298 1,142 309 1,532 3,446 4,893 420 14,160) 13,975) {1611 1191 I,iii 929 1411 1191 1,825 11 13001 164,854 70,071 173,717) 13,7621 11161 161,092 Endowment Funds Investments 8,339 8,339 8,339 8,339 Tot31 645,221 166,467 {182,850) 116,383) 628,838 26