RALOO PRESBYfERIAN CHURCH A Congregatlon of The Presbyterian Church In Ireland RECEIPTS AND PAYMENTS STATEMENT For the year ended 31 December 2023 Recelpts: Donations and legacles Charltable actlvltles Other tradlng actlvltles Investments Othei income 56,583 16,385 21,122 460 352 3,209 72,968 21,122 12,587 727 3,814 92,566 11,950 9,724 358 2,865 12,127 375 605 Total 69,690 41,528 111,218 117,463 Payments: Ralslng funds Charltable actlvltles Other 623 54,894 235 623 77,205 271 556 75,788 1,577 22,311 36 Sub- Total 55.752 22,347 78,099 77,921 Asset & Investment Purchase5 26,058 26,058 6,608 Total 55,752 48,405 104,157 84,529 Net Recelptsl (payments) 13,938 -6,877 7,061 32,934 Transfers between funds -4,418 4,418 Net movement In funds Reconclliatlon of funds,, Total funds brought forward 9,520 -2,459 7,061 32,934 104,898 100,421 205,319 172,385 Total funds carrled fonvard 14 114,418 97,962 212,380 205,319 12
RALOO PRESBYTERIAN CHURCH A Congre8atlon of The Presbyterlan Church In Ireland STATEMENT OF ASSETS AND LIABILITIES As at 31 December 2023 Unrestrlcted Funds Restrlcted Endowment Funds Funds Total 2023 Total 2022 Funds Reconclllatlon Bank and Cash at start of vear Net movement In funds 104,898 100,421 205,319 172,385 9,520 -2,459 7,061 32,934 Bank and Cash at end of year 114,418 97,962 212,380 205,319 Bank & Cash Balance$ Bank Current Accounts Cash In Hand 212,104 276 205,055 264 212380 205,319 Other Assets Flxed Assets- Note 12 874,110 852,345 874,110 852,345 Ap oved by the Klrk Ses ion t a meeting on and slgne Rev Andrew Watson Chalr/Moderator & Vacancy Convenor Geoff McBrlde Clerk of Sesslon at Ra 00 rlan Church Date: 29/0912024 Date: 29/09/2024 13
RALOO PRESBYTERIAN CHURCH A Congregatlon of The Presbyterlan Church In Ireland NOTES TO THE ACCOUNTS 31 December 2023 ACCOUNTING POLICIES BASIS OF FINANCIAL STATEMENTS As the total Income of the congregatlon Is less than £250,000 the congregatlon have elected In accordance wlth the provlslons In The Charltles (Accounts and Reports Regulatlons {Northern Ireland) 2015 to prepare Its accounts on a recelpts and payments basls, FUND ACCOUNTING Endowment funds are funds, the capltal of whlch must be retalned elther permanently or at the congre8atlon's dlscretion; the Income derlved from the endowment Is to be used elther as restrlcted or unrestricted Income funds dependlng upon the purpose for which the endowment was establlshed in the flrst place. Restrlcted funds comprlse (al Income from endowments whlch Is to be expended only on the restricted purposes intended by the donor and {bl revenue donatlon5 or grants for a speclflc congregatlonal actlvlty Intended by the donor. Where these funds have unspent balances, Interest on their pooled Investment is apportloned to the indlvldual funds on an average balance basls. Unrestrlcted funds are Income funds whlch are to be spent on the congregatlon's general purposes. Designated funds are general funds set aslde bythe congregatlon for use In the future. 14
RALOO PRESBYfERIAN CHURCH A Congregatlon of The Presbyterlan Church In Ireland NOTES TO THE ACCOUNTS 31 December 2023 2. DONATIONS AND LEGACIES Recorded glvlng: Loose collectlons Donations and gifts Glft Ald Legacles and bequest 204 56,379 204 72,764 605 74,847 11,114 6,000 16,385 56,583 16,385 72,968 92,566 3. CHARITABLE ACTIVITIES Fundralsing Income from charitable activltles Grave fees 2,179 5,168 13,775 2,179 5,168 13,775 1,360 7,640 2,950 21,122 21,122 11,950 15
RALOO PRESBYTERIAN CHURCH A Congregatlon of The Presbyterlan Church In Ireland NOTES TO THE ACCOUNTS 31 December 2023 4. OTHER TRADING AcfiviTIES Lettlng of church hall Magheramorne Shared Expenses Manse rent 740 5,687 5,700 460 1,200 5,687 5,700 150 4,250 5,324 12,127 460 12,587 9,724 S. INVESTMENT INCOME Deposlt Interest 375 352 727 358 375 352 727 358 16
RALOO PRESBYfERIAN CHURCH A Congiegatlon of The Presbyteylan Church In Ireland NOTES TO THE ACCOUNTS 31 December 2023 OTHER INCOME Sundry Insurance Clalm Grants 1,281 1,584 600 3,200 3,800 605 3,209 3,814 2,865 RAISING FUNDS FWO envelopes 623 623 556 623 623 556 17
RALOO PRESBYTERIAN CHURCH A CongYe8atlon of The Presbyterlan Church In Ireland NOTES TO THE ACCOUNTS 31 December 2023 CHARITABLE ACTIVITIE5 General Assembly assessments Presbytery fees Mlnlstry and support staff costs Congregatlonal runnlng expenses Donatlons to mlsslons and charltles Governance costs 6,567 453 22,318 24,884 6,567 453 22,318 33,248 13,947 672 15,453 525 4,792 42,385 11,961 672 8,364 13,947 672 54,894 22,311 77,205 75,788 OTHER EXPENOITURE Bank Fees & Loan Interest Other 235 36 271 262 1,315 235 36 271 1,577 18
RALOO PRESBYfERIAN CHURCH A Congregatlon of The Presbyterlan Church In Ireland NOTES TO THE ACCOUNTS 31 December 2023 io. EMPLOYEES Wages and salarles Soclal securlty costs Penslon contributions 6,625 6,445 6,625 6,445 Number of Employees The average number of employees, Including the mlnlster of the congregatlon, durlng the year was: 2023 No 2022 Average number of employees There were no employees In recelpt of employee beneflts In excess of £60,000. 19
RALOO PRESBYfERIAN CHURCH A Congregatlon of The Presbyterlan Church In Irelartd NOTES TO THE ACCOUNTS 31 December 2023 ii. PENSION COSTS The mlnlster of the congregatlon is a member of the Presbyterlan Church In Ireland Penslon Scheme 120091. Thls Is a scheme operated by the Presbyterlan Church In Ireland, a separate reglster charity. The congregatlon pays an assessment to the Presbyterian Church In Ireland equlvalent to the employerfs penslon contribution for the Scheme and based on the stlpend pald to the minister. The Presbyterlan Church In Ireland Pension Scheme (20091 Is a funded Scheme of the deflned beneflt type& provldlng deflned benefits based on career average revalued salary. The Scheme has assets held in a separately admlnistered 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 obligatlons. A formal schedule of contrlbutlons was drawn up on 25 November 2015 whereby the Presbyterian Church agreed to pay from 31 December 2015 contributions of 24¥0 of penslonable salarles to cover the accrual of beneflts for future servlce, expenses, the cost of Insurlng death In service beneflts and fundlng the scheme deflclt. The contrlbutlons made bythe congregatlon durlng the year were 2023 2022 Contributlons As the congregatlon does not have any other employees, St does not have a penslon scheme. 20
RALOO PRESBYTERIAN CHURCH A Congregatlon of The Presbyterian Chur¢h In Ireland NOTES TO THE ACCOUNTS 31 De¢ember 2023 12. TANGIBLE FIXED ASSETS Cost or valuatlon At start of year Additlons Dlsposals 830,884 26,058 42,926 873,810 26,058 At end of year 856,942 42,926 899,868 Depreclatlon At start of year Provision for year Dlsposals 21,465 4,293 21,465 4,293 At end of year 25,758 25,788 Net Book Value At start of year 830,884 21,461 852,345 At end of year 856,942 17,168 874,110 21
RALOO PRESBYTERIAN CHURCH A Congregatlon of The Presbyterlan Church In Ireland NOTES TO THE ACCOUNTS 31 December 2023 13. CASH AT BANK AND IN HAND 2023 2022 Danske Bank current accounts Ulster Bank current accounts Flrst Trust Bank current accounts Cash In hand 211,445 659 205,055 276 264 212,380 205,319 14. FUND BALANCES AND RECONCILIATION OF FUNDS Balance Transfer Lend at sta nc endltu Unrestrlcted Funds General Fund 104,898 69,690 -55,752 -4,418 114,418 Restrlcted Funds Buildlng Fund Repalr Fund Mlssions & Charities Unlted Appeal Graveyard BB GB Bowling Club pw Toddler Group Youth Group Youth Fellowship 43,103 4,195 3,676 9,394 15 4,066 5,135 14,017 2,274 3,792 240 1,503 1,041 -736 4,210 -4,210 2,934 1,647 120 42 55,971 -5,896 -6,782 -27,142 -1,831 -3,073 -15 -1,901 -1,029 4,780 37,916 1,550 7,033 777 916 906 297 52 24,911 2,035 7,752 677 518 918 297 103 -325 51 100,421 41,528 -48,405 4,418 97,962 Endowments Lega¢les and Bequests TOTAL 205,319 111,218 -104,157 212,380 22
RALOO PRESBYTERIAN CHURCH A Congregatlon of The Presbyterlan Church In Ireland NOTES TO THE ACCOUNTS 31 December 2023 15. REiATED PARTY TRANSACTION Durlng the yearthe congregatlon contrlbuted the followlng amounts to Funds of the General Assembly of the Presbyterian Church In Ireland, a separate charlty. £6,567 £6,782 for congregatlonal assessments towards the Unlted Appeal There were no other related party transactlons. 23