2022-12-31-accounts - Cairncastle Congregation of the Presbyterian Church in Ireland

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STATEMENT OF FINANCIAL ACTIVITY

CAIRNCASTLE PRESBYTERIAN CHURCH

CAIRNCASTLE PRESBYTERIAN CHURCH

For the year ended 31 December 2022
Notes	Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2022 Total funds 2021
Income and Endowments from:	£ £ £ £ £
Voluntary Donatons 2	62,582 13,869 76,451 73,313
Charitable activities 3	290 290 1,913
Other trading activities 4	84 84 23
Investments 5	1,017 1,017 852
Other 6 Total	4,935 4,935 6,669
	68,908 13,869 0 82,778 82,770
Expenditure on:
Raising funds 7	500 - 500 567 75,752 17,467 -1,215 93,219 86,962 245 - 0 0
Charitable activities 8
Other 9
Total	76,496 17,467 - 93,719 87,529
Net Income/ (expenditure)	-7,588
Transfers between funds	-4,050 4,620 -570 0 0

Net movement in funds	-11,638 1,022 -1,785 -12,401 -4,759

Reconciliation of funds:
Total funds brought forward	109,889 29,474 54,741 194,104 182,654
Total funds carried forward	98,251 30,496 52,956 181,703 194,104


BALANCE SHEET
Notes	Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2022 Total funds 2021
	£ £ £ £ £
Additional Information Fixed assets:

Investments 13	- 52,956 52,956 54,741
Funds Reconciliation
Cash at bank and in hand 14	98,251 30,496 128,747 139,363
Total funds 15	98,251 30,496 52,956 181,703 194,104








Approved by the Kirk Session at a meeting on 20/9/23


and signed on its behalf by

CAIRNCASTLE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church in Ireland

NOTES TO THE ACCOUNTS

1. ACCOUNTING POLICIES STATEMENTS

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 Financial Reporting Standard applicable in the UK and Ireland (FRS102) (effective 1 January 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.

FUND ACCOUNTING

Charity law requires that monies given to a charity must be accounted for in funds so that donors may be confident that the money they have given for good causes is not misused or wasted but properly used. Accordingly funds are held in three types of fund, unrestricted or general, restricted and endowment.

Unrestricted or general funds are income funds which are to be spent on the congregation's general purposes without any restriction being placed on them by the donor. Some general funds may be set aside by the congregation as Designated funds for use in the future and may be returned to general use.

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 a restricted fund is no longer required but has unspent balances, these may be apportioned to other purposes, provided this is understood by the donors in advance.

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.

INCOMING RESOURCES

(i) Recognition of incoming resources

These are included in the Statement of Financial Activities (SoFA) when:

The congregation becomes entitled to the resources;
The trustees are virtually certain they will receive the resources and

(ii) Incoming resources with related expenditure

Where incoming resources have related expenditure (as with fundraising income) the incoming resources and related expenditure are reported gross in the SoFA.

(iii) Grants and donations

Grants and donations are only included in the SoFA when the congregation has unconditional entitlement to the resources.

(iv) Tax reclaims on donations and gifts

Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to which they relate.

(v) Contractual income and performance related grants

This is only included in the SoFA once the related goods or services have been delivered.

(vi) 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 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 incoming resources when receivable.

(vii) Donated services and facilities

These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.

(viii) Volunteer help

The value of any voluntary help received is not included in the accounts but is described in the trustees[’] annual report.

(ix) Investment income

This is included in the accounts when receivable.

(x) Investment gains andlosses

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.

EXPENDITURE AND LIABILITIES

(xi) Liability recognition

Liabilities are recognised as soon as there is a legal or constructive obligation committing the congregation to pay out resources.

(xii) 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.

(xiii) Grants with performance conditions

Where the charity give a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output.

(xiv) Grants payable without performance conditions

These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity.

ASSETS

(xvi) Tangible Fixed Assets

The Church Building and halls are deemed to be heritage assets as defined by the Charities SORP (FRS102). They are not included on the balance sheet as information on the cost or valuation is not available and such information cannot be obtained at a cost commensurate with the benefits to the users of the accounts and to the congregation.

The Manse is recognised at cost/deemed cost, being the estimated fair value of the property at 31/12/2016. No depreciation has been provided on the Manse as the current estimated residual value is not less than its carrying value and the remaining useful life currently exceeds 50 years.

(xvii) Investments

Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets including agricultural land are included at trustees' best estimate of market value.

CAIRNCASTLE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church in Ireland

NOTES TO THE ACCOUNTS

31 December 2022

NOTES TO THE ACCOUNTS 31 December 2022

		Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2022 Total funds 2021
		£ £ £ £ £
2. VOLUNTARY DONATIONS Recorded giving Loose collections Donations and gifts		0 51,652 51,652 62,607 533 13,869 - 14,402 250 250 10,147 10,147 10,706



Gift Aid
		62,582 13,869 0 76,451 73,313

3. CHARITABLE ACTIVITIES

Income from charitable activities		1,913
Christian Literature		290
		290 1,913

4. OTHER TRADING ACTIVITIES

Letting of premises		84 - -
Trading income		- 14
		84 - - 84 14

5. INVESTMENT INCOME

Deposit interest		698 308
Dividends		319 544
		1,017 852

6. OTHER INCOME

Special collections		4,585 4,585
Legacies and bequest		6,000
Donations from organisations		350 350 175
		4935 4935 6175

7. RAISING FUNDS

FWO Envelopes		500 - - 567
		500 - - 567

8. CHARITABLE ACTIVITIES

General Assembly assessments		13,566 - - 13,566 56,866
Presbytery fees Ministry and support staff costs Running expenses Donations to missions and charities Governance costs		727 - - 727 715 49,957 - - 49,957 2,158 11,211 - 11,211 16,427 10,639 - 10,639 10,221 576 - - 576 576 - - - 0




Other donations
		76,037 10,639 - 86,676 86,963

9. OTHER EXPENDITURE

Other Expenditure		- - - - -
		- - - - -

CAIRNCASTLE PRESBYTERIAN CHURCH A Congregation of The Presbyterian Church in Ireland

NOTES TO THE ACCOUNTS

31 December 2022

10. EMPLOYEES	10. EMPLOYEES
		Total Funds 2022 Total funds 2021
		£ £
Wages and salaries inc NIC		36,947 1,873
Pension contributions		8,017 408
		44,964 2,281

Number of Employees
The average number of employees, including the minister, in the congregation, during the year was:
		2022 2021
Average number of employees		1 1

There were no employees in receipt of employee benefits in excess of £60,000.


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 registered charity. Pension contributions determined by the Scheme and made by the congregation during the year were:
	2022 2021 £ £ 7,841 408

Contributions


12. TANGIBLE FIXED ASSETS

The congregation owns a manse at 5 Cairnhill Crescent, Ballygally, Larne, Co Antrim, BY40 2QT, with an insured value of £304,645

13. INVESTMENTS
	2022 2021 30,529 31,098 9,520 10,373 12,908 13,270
Designated General Investment Fund NICIFC Total Investment
	52,957 54,741


14. CASH AT BANK AND IN HAND
	2022 2021
	£ £
Cash in bank and in hand	128,962 139,578
Deposit accounts	52,956 54,741
	181,918 194,319

CAIRNCASTLE PRESBYTERIAN CHURCH A Congregation of The Presbyterian Church in Ireland

NOTES TO THE ACCOUNTS

31 December 2022

15. FUNDS BALANCES
	Income Expenditure Transfer Balance At start Balance At end
	£ £ £ £ £
Unrestricted Funds General Fund
	68,908 76,496 -4,050 109,889 98,250

Restricted Funds
Property Funds
Building & Repair Fund	1,044 3,970 4,129 22,588 23,791
Missions and Charities
Missions & Charities	10,148 10,639 491 0 0
Organisational Funds
BB GB PW Senior Bowls Youth Club Friendship Club Rainbow Club Catering Total organisations Total Restricted	1 30 609 580 590 510 396 476 834 650 262 447 315 302 299 312 0 371 1,878 1,508 937 765 105 277 0 201 201 0 230 3,135 2,905 2,677 2,857 0 6,886 6,705 13,869 17,467 4,620 29,474 30,497

Designated Designated
	-570 31,098 30,528

Endowments General Investment Fund NICIFC Total Investment
	853 10,373 9,520 361 13,270 12,908 1,215 23,643 22,428
TOTAL	82,777 95,178 0 194,104 181,704



16. RELATED PARTY TRANSACTION

None of the trustees received any remuneration during the year in connection with their duties.

During the year, the congregation contributed the following amounts to Funds of the General Assembly of the Presbyterian Church in Ireland, a separate registered charity:

Congregational assessments £57,813 United Appeal £6,241 World Development Appeal £1,076 Moderator's Appeal £2,110 Children's Society £263

There were no other related party transactions.