2023-12-31-accounts - Loughmourne Congregation of the Presbyterian Church in Ireland

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LOUGHMORNE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the year ended 31 December 2023

	Note	Unrestricted	Restricted	Endowment	Total	Total
		Funds	Funds	Funds	2023	2022
		£	£	£	£	£
Receipts
Donations and legacies	2	32,716	9,728	-	42,444	40,222
Charitable activities	3	-	1,050	-	1,050	1,190
Other trading activities	4	133	-	-	133	135
Investment Income	5	81	1	-	82	79
Other	6	172	270	-	442	8,325
		----------	----------	----------	----------	----------
				-
		----------	----------	----------	----------	----------
Total Receipts		33,102	11,049	-	44,151	49,951
		----------	----------	----------	----------	----------
Payments
Raising funds	7	-	-	-	-	-
Charitable activities	8	31,729	8,070	-	39,799	41,187
		----------	----------	----------	----------	----------
		31,729	8,070	-	39,799	41,187
Purchase of fixed assets		-	-	-	-	-
		----------	----------	----------	----------	----------
Total Payments		31,729	8,070	-	39,799	41,187
		----------	----------	----------	----------	----------
Net receipts / (payments)		1,373	2,979	-	4,352	8,764
Transfers between funds		(1,542)	1,542	-	-	-
		----------	----------	----------	----------	----------
Net movement in funds		(169)	4,521	-	4,352	8,764
Funds brought forward		16,251	26,551	5,372	48,174	39,411
		----------	---------	----------	----------	----------
Funds carried forward	11	16,082	31,072	5,372	52,526	48,175
		======	======	======	======	======

LOUGHMORNE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF ASSETS AND LIABILITIES

As at 31 December 2023

s at 31 December 2023
	Unrestricted	Restricted	Endowment	Total	Total
	Funds	Funds	Funds	Funds	Funds
				2023	2022
	£	£	£	£	£
Funds Reconciliation
Bank and Cash at start of year	16,251	26,551	5,372	48,174	39,411
Net movement in funds	(169)	4,521	-	4,352	8,764
	----------	----------	----------	----------	----------
Bank and Cash at end of year	16,082	31,072	5,372	52,526	48,175
	=======	=======	=======	=======	=======
Bank & Cash Balances
Bank Deposit Accounts				5,372	5,372
Bank Current Accounts				47,154	42,803
Cash in Hand				-	-
				----------	----------
				52,526	48,175
				=======	=======
Other Assets
Fixed Assets – Note 9
				660,000	660,000
				----------	----------
				660,000	660,000
				=======	=======

LOUGHMORNE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

NOTES TO THE ACCOUNTS 31 December 2023

1. ACCOUNTING POLICIES

BASIS OF FINANCIAL STATEMENTS

As the total income of the congregation is less than £250,000 the congregation have elected in accordance with the provisions in The Charities (Accounts and Reports Regulations (Northern Ireland) 2015 to prepare its accounts on a receipts and payments basis.

FUND ACCOUNTING

Endowment funds are funds, the capital of which must be retained either permanently or at the congregation’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 established in the first place.

Restricted funds comprise (a) income from endowments which is to be expended only on the restricted purposes intended by the donor and (b) revenue donations or grants for a specific congregational activity intended by the donor. Where these funds have unspent balances, interest on their pooled investment is apportioned to the individual funds on an average balance basis.

Unrestricted funds are income funds which are to be spent on the congregation’s general purposes. Designated funds are general funds set aside by the congregation for use in the future.

2. DONATIONS AND LEGACIES

	Unrestricted	Restricted	Endowment	Total	Total
	Funds	Funds	Funds	2023	2022
	£	£	£	£	£
Recorded giving:	25,928	4,123	-	30,051	29,648
Loose collections	1,746	-	-	1,746	1,100
Donations and gifts	403	4,873	-	5,276	4,223
Gift Aid	4,639	732	-	5,371	5,252
	----------	----------	----------	----------	----------
	32,716	9,728	-	42,444	40,222
	----------	----------	----------	----------	----------

LOUGHMORNE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS

31 December 2023

3. CHARITABLE ACTIVITIES

	Unrestricted	Restricted	Endowment	Total	Total
	Funds	Funds	Funds	2023	2022
	£	£	£	£	£
Income from charitable activities
Fees from weddings and funerals	-	1,050	-	1,050	1,190	24
Fundraising events	-	-	-	-		5
	----------	----------	----------	----------	----------
	-	1,050	-	1,050	1,190
	----------	----------	----------	----------	----------

4. OTHER TRADING ACTIVITIES

	Unrestricted	Restricted	Endowment	Total	Total
	Funds	Funds	Funds	2023	2022
	£	£	£	£	£
Letting of premises	-	-	-	-	-
Trading income	133	-	-	133	135
	----------	----------	----------	----------	----------
	133	-	-	133	135
	----------	----------	----------	----------	----------

5. INVESTMENT INCOME

	Unrestricted	Restricted	Endowment	Total	Total
	Funds	Funds	Funds	2023	2022
	£	£	£	£	£
Deposit interest	81	1	-	82	79
	----------	----------	----------	----------	----------
	81	1	-	82	79
	----------	----------	----------	----------	----------

LOUGHMORNE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d)

31 December 2023

6. OTHER INCOME

	Unrestricted	Restricted	Endowment	Total	Total
	Funds	Funds	Funds	2023	2022
	£	£	£	£	£
Other income	172	270	-	442	8,325
	----------	----------	----------	----------	----------
	172	270	-	442	8,325
	----------	----------	----------	----------	----------

7. RAISING FUNDS

. RAISING FUNDS
	Unrestricted	Restricted	Endowment	Total	Total
	Funds	Funds	Funds	2023	2022
	£	£	£	£	£
FWO envelopes	-	-	-	-	-
Fundraising events	-	-	-	-	-
	----------	----------	----------	----------	----------
	-	-	-	-	-
	----------	----------	----------	----------	----------
. CHARITABLE ACTIVITIES
	Unrestricted	Restricted	Endowment	Total	Total
	Funds	Funds	Funds	2023	2022
	£	£	£	£	£
General Assembly Assessments	5,265	-	-	5,265	4,580
Presbytery fees	366	-	-	366	350
Ministry and support staff costs	18,428	-	-	18,428	16,482
Congregational running expenses	7,190	2,734	-	9,924	13,371
Donations to Missions and	-	5,336	-	5,336	5,954
charities
Governance costs	480	-	-	480	450
	----------	----------	----------	----------	----------
	31,729	8,070	-	39,799	41,187
	----------	----------	----------	----------	----------

8. CHARITABLE ACTIVITIES

LOUGHMORNE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d)

31 December 2023

9. FIXED ASSETS

The congregation owns the Church premises situated at 52-54 Carneal Road, Larne and all the associated fixtures, fittings, equipment, plant and machinery and the manse situated at 10 Harwood Gardens, Carrickfergus. These have a total insurance value of approx. £660,000.

10. INVESTMENTS

The congregation has the following investments. Amounts are shown at market valuation.

	2023	2022
	£	£
General Investment Fund	5,372	5,372
Property	-	-
Other investments	-	-
	----------	----------
	5,372	5,372
	----------	----------

LOUGHMORNE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d)

31 December 2023

11. FUND BALANCES

Fund	Balance	Receipts	Payment	Surplus /	Transfer	Balance
	at start			(Deficit)		at end
	£	£	£	£	£	£
Unrestricted Funds
General Fund	16,251	32,917	(31,544)	(169)	(1,542)	16,082
Harvest gift	-	185	(185)	-	-	-
	----------	----------	----------	----------	----------	----------
	16,251	33,102	(31,729)	(169)	(1,542)	16,082
	----------	----------	----------	----------	----------	----------
Restricted Funds
Property/Building Fund	25,895	6,855	(2,698)	4,157	-	30,052
United Appeal	-	1,937	(2,686)	-	749	-
Amara Aid	-	495	(500)	-	5	-
Pres. Children’s Society	-	-	(100)	-	100	-
World Development	-	12	(100)	-	88	-
CEF	-	-	(600)	-	600	-
Presbyterian Women	656	1,750	(1,386)	364	-	1,020
Moderators Appeal	-	-		-	-	-
	----------	----------	----------	----------	----------	----------
	26,551	11,049	(8,070)	4,521	1,542	31,072
	----------	----------	----------	----------	----------	----------
Endowment Funds
Endowment Fund	5,372	-	-	-	-	5,372
	----------	----------	----------	----------	----------	----------
	5,372	-	-	-	-	5,372
	----------	-----------	-----------	-----------	-----------	----------
Total	48,174	44,151	(39,799)	4,352	-	52,526
	----------	----------	----------	----------	----------	----------