First Larne
Presbyterian Church
Worship God . Build His Kingdom . Share His Love
First Larne Presbyterian Church
a congregation of the Presbyterian Church in Ireland
Trustees Annual Report
For the year ended 31 December 2023
Registered with the Charity Commission for Northern Ireland NIC 104895

FIRST LARNE PRESBYfERIAN CHURCH
A Congregation of The Presbyterian Church in Ireland
RECEIPTS AND PAYMENTS STATEMENT
For the year ended 31 December 2023
Receipts:
Donations and legacies
Charitable activities
Other trading activities
Investments
Other
143,982
782
11,412
921
3,550
33,569
14,792
177,551
15,574
11,412
1,820
3,550
186,686
19,033
12,528
627
22
877
Total
160,647
48,383
877
209,907
218,874
Payments:
Raising funds
Charitable activities
Other Expenses
440
187,097
440
237,103
I,ioo
192,207
50,006
Total
187,537
50,006
237,543
193,307
Net gains/llossesl on investments
1,154
1,154
14971
Net Receipts/ (Payments)
Transfers between funds
Gains/{lossesl on revaluation of
fixed assets
-26,890
1,741
-1,623
-1,705
2,031
-36
-26,482
25,070
Net movement in funds
Reconciliation of funds..
Total funds brought forward
-25,149
-3,328
1,995
-26,482
25,070
255,065
261,763
120,896
637,724
612,654
Total funds carried forward
229,916
258,435
122,891
611,242
637,724
io

FIRST LARNE PRESBYfERIAN CHURCH
A Congregation of The Presbyterlan Church in Ireland
STATEMENT OF ASSETS AND LIABILITIES
As at 31 December 2023
Fund Reconciliation:
Bank and Cash at start of year
255,065
261,763
120,896
637,724
612,654
Net movement in funds
-25,149
-3,328
1,995
-26,482
25,070
Bank and Cash at end of year
229,916
258,435
122,891
611,242
637,724
Other Assets
Fixed Assets
Investments
12
13
220,000
17,764
220,000
16,419
237,764
236,419
th
Approved by the Kirk Session at a meeting on 9 May 2024 and signed on its behalf by
Mr. R. Tweed
Clerk of Session
Date:
"/1
2L) Llr
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FIRST LARNE PRESBYfERIAN CHURCH
A Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS
31 December 2023
ACCOUNTING POLICIES
BASIS OF FINANCIAL STATEMENTS
As the total income of the congregation is le55 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 {al income from endowments which is to be expended only on the
restricted purposes intended by the donor and Ibl 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.
12

FIRST LARNE PRESBYfERIAN CHURCH
A Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS
31 December 2023
2. DONATIONS AND LEGACIES
Recorded giving:
Loose collections
Donations and gifts
Gift Aid & charitable giving
Legacies and bequest
403
29,076
4,090
403
155,682
21,466
1,062
159,148
26,476
126,606
17,376
143,982
33,569
177,551
186,686
3. CHARITABLE ACTIVITIES
Income from charitable activities
Christian Literature
782
14,792
15,574
19,033
782
14,792
15,574
19,033
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FIRST LARNE PRESBYfERIAN CHURCH
A Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS
31 December 2023
OTHER TRADING ACTIVITIES
Donations for use of premises
Isle Court rent
Solar Panel Income
3,650
4,206
3,556
3,650
4,206
3,556
5,435
4,308
2,785
11,412
11,412
12,528
INVESTMENT INCOME
Deposit interest
General investment fund dividend
DFC Charities
Bequest account interest
921
22
943
345
36
496
209
343
37
38
345
36
496
921
22
877
1,820
627
14

FIRST LARNE PRESBYTERIAN CHURCH
A Congregation of The Presbyterian Church In Ireland
NOTES TO THE ACCOUNTS
31 December 2023
OTHER INCOME
Grants
Sundry
2,950
600
2,950
600
3,550
3,550
RAISING FUNDS
FWO Envelopes
440
440
I,ioo
440
400
I,ioo
15

FIRST LARNE PRESBYfERIAN CHURCH
A Congregation of The Presbyterian Church In Ireland
NOTES TO THE ACCOUNTS
31 December 2023
CHARITABLE ACTIVITIES
General Assembly assessments
Presbytery fees
Ministerial salary & expenses
Other salaries & expenses
Congregational running expenses
Property running costs
Donations to missions and charities
Governance costs
14,414
945
70,553
43,161
9,831
47,693
14,414
945
70,553
43,161
21,095
68,279
18,156
500
14,981
907
66,903
18,906
22,047
43,083
24,880
500
11,264
20,586
18,156
500
187,097
50,006
237,103
192,207
OTHER EXPENSES
Nil
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FIRST LARNE PRESBYfERIAN CHURCH
A Congregatlon of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS
31 December 2023
io.
EMPLOYEES
Wages and salaries inc NIC
Pension contributions
45,997
11,039
48,861
10,514
57,036
59,375
Number of Employees
The average number of employees, including the minister of the congregation, during the year was..
No
No
Average number of employees
There were no employees in receipt of employee benefits in excess of £60,000.
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FIRST LARNE PRESBYfERIAN CHURCH
A Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS
31 December 2023
ii.
PENSION COSTS
The minister of the congregation is a member of the Presbyterian Church in Ireland Pension Scheme
120091. This is a scheme operated by the Presbyterian Church in Ireland, a separate registered
charity. The congregation 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 Scheme12009} 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 a 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 24Yo of pensionable salaries to cover the accrual of benefits for future seNice,
expenses, the cost of insuring death in service benefits and funding the scheme deficit.
The contributions made by the congregation during the year were
Contributions
11,039
10,514
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FIRST LARNE PRESBYTERIAN CHURCH
A Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS
31 December 2023
12.
TANGIBLE FIXED ASSETS
Cost or valuation
At start of year
Additions
Disposals
220,000
220,000
At end of year
220,000
220,000
Depreciation
At start of year
Provision for year
Disposals
At end of year
Net Book Value
At start of year
220,000
220,000
At end of year
220,000
220,000
13.
INVESTMENTS
2023
2022
General Investment Fund
16,265
16,419
Value at start of year
Additions: dividends reinvested
16,265
345
16,419
343
16,610
1,154
16,762
(4971
Gains1llosses on revaluation)
Value at end of year
17,764
16,265
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FIRST LARNE PRESBYTERIAN CHURCH
A Congregatlon of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS
31 December 2023
14.
FUND BALANCES AND RECONCILIATION OF FUNDS
Balance
At end
Gains
Losses
Balance
At end
Income Ex
enditure
Transfer
Unrestricted Funds
General Fund
Capital Reserve
Manse Interest
Millbrook School
102,923 159,726
75,178
27,156
49,808
-186,142
1,925
-184
78,432
74,989
26,085
50,410
319
602
-1,390
255,065 160,647
-187,537
1,741
229,916
Restricted Funds
Building & Repair Fund
Community Care
Missions & Charities
United Appeal
Church Organisations
Buildings
Investment Income
12,634
402
15,033
403
-20,586
7,081
805
18,154
14,793
-18,156
-11,264
28,725
220,000
-1,705
30,549
220,000
261,763
48,383
-50,006
-1,705
258,435
Endowments
General Investment Fund
Bequests
16,265
104,631
345
532
1,154
17,764
105,127
-36
120,896
877
1,154
-36
122,891
TOTAL
637,724 209,907
-237,543
1,154
611,242
The movement of funds from the Restricted Fund to the Unrestricted Fund reflects transfers
between church organisations and the general fund, largely contributions towards heat & light costs
of the hall.
20

FIRST LARNE PRESBYTERIAN CHURCH
A Congregatlon of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS
31 December 2023
15.
RELATED PARTY TRANSACTION
One of the Trustee5, the minister of the congregation, received remuneration of £45,997 and
expenses of £3,006 for acting in that capacity. Pension contributions of £11,039 were paid by the
congregation in respect of the minister to the Presbyterian Church in Ireland Pension Scheme120091.
None of the other 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 charity.
£84,967
£13,477
£661
£3,910
for congregational assessments
towards the United appeal
toward Presbyterian Children's Society
towards Moderators Appeal incorporating the World Development Appeal
There were no other related party transactions.
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