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2023-12-31-accounts

MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

Registered with the Charity Commission for Northern Ireland NIC104918

Muckamore Presbyterian Church A congregation of the Presbyterian Church in Ireland

Trustees Annual Report and Financial Statements For the year ended 31 December 2023

MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

CONTENTS

REFERENCE AND ADMINISTRATIVE DETAILS………………………………………………. 1
TRUSTEES ANNUAL REPORT……………………………………….……………………………… 3
INDEPENDENT EXAMINERS REPORT……………………………………….…………………. 12
STATEMENT OF FINANCIAL ACTIVITY……………………………………….………………… 14
BALANCE SHEET……………………………………….………………………………………………… 15
NOTES TO THE ACCOUNTS……………………………………….………………………………. 16

MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

REFERENCE AND ADMINISTRATIVE DETAILS

Muckamore congregation of the Presbyterian Church in Ireland 74 Dunadry Road Antrim Co Antrim Northern Ireland BT41 4QJ

Registered Charity in Northern Ireland (NIC104918)

CHARITY TRUSTEES

The Charity Trustees who served during the year or who were trustees at the date of this report were Messrs:

I Alexander A Oliver A Ashenhurst S Gray R Armour B Hill P Bingham G Moore Rev. Stephen McNie B Goudy

PRINCIPAL OFFICE BEARERS

Minister Rev. Stephen McNie Clerk of Session Dr Brian Hill Congregational secretary Mr Alastair McNeilly (from Sept 2023) Treasurer Mrs Denise McNeilly (from Dec 2023)

INDEPENDENT EXAMINER

Richard Whan FCA

Richard Whan & Co Chartered Accountants Limited River House High Street Belfast BT1 2BE

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MUCKAMORE PRESBYTERIAN CHURCH A Congregation of The Presbyterian Church In Ireland

SOLICITORS

Anderson Gillan Barr Ltd 32 Church St Antrim BT41 4BA

BANKERS

Danske Bank 42 High Street Antrim BT41 4AP

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MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

TRUSTEES ANNUAL REPORT

The Trustees present their Annual Report and Financial Statements for the year ended 31 December 2023 including a Balance Sheet as at that date.

STRUCTURE AND MANAGEMENT

The Kirk Session

The charity trustees of the congregation are the members of its Kirk Session. Under the congregation’s governing document, The Code, the book of the constitution and government of the Presbyterian Church in Ireland, the Kirk Session seeks to watch over and promote the spiritual interest of the congregation and of persons not connected with any congregation who are within its bounds. It ensures pastoral care is in place in the congregation and seeks to further the contribution of the Church to Christian witness and service in the local community. The Kirk Session has delegated to its Congregational Committee the temporal affairs of the congregation including administering all funds and property belonging to the congregation. Members of the Kirk Session are ex-officio members of the Congregational Committee.

The Kirk Session consists of the ordained minister and the ruling elders of the congregation. All members are entitled to propose, speak and exercise equal votes at meetings, except that the Moderator, the minister in active duty in the congregation, has no deliberative but only a casting vote.

Stated meetings of the Kirk session are held ten times per year (every month excluding July and August).

To be chosen for the office of the eldership in the congregation a person must be a voting member and a regular attendant on its ordinances. The selection of those proposed to be called to the office can be either by the congregation or by the Kirk Session. Members are elected if they obtain two-thirds of those who vote.

Presbytery

Under the Presbyterian Church in Ireland form of governance the corporate oversight of a congregation is the responsibility of a Presbytery which superintends generally the spiritual

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MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland TRUSTEES ANNUAL REPORT (cont’d)

and temporal affairs of the congregations assigned to it by the General Assembly of the Presbyterian Church in Ireland. Muckamore Presbyterian Church has been assigned to the Templepatrick Presbytery of the Presbyterian Church in Ireland. The membership of the Presbytery consists mainly of the active ministers of congregations assigned to it by the General Assembly, minsters who have retired from active duty and an elder appointed by the Kirk Session of each congregation.

The General Assembly

The General Assembly is the supreme court of the Church, representing in one body the whole Church and acting as its supreme legislative, administration and judicial authority, in dealing with all matters brought before it. The General Assembly is normally constituted during the first week in June for worship and to conduct its business. At the end of business, it is dissolved. The membership of the General Assembly consists mainly of the active ministers of each congregation, retired minsters and a representative elder appointed by the Kirk Session of each congregation.

DESCRIPTION AND PURPOSE

Muckamore Presbyterian Church is a congregation of the Presbyterian Church in Ireland. The Presbyterian Church in Ireland, as a Reformed Church within the wider body of Christ is grounded in the Scriptures, and exists to love and honour God through faith in His Son and by the power of His Spirit, and to enable her members to play their part in fulfilling God’s mission to our world.

At Muckamore, we commit ourselves to two core values that help to shape us as a congregation in our life and witness:

Value 1: A ‘whole-life’ Christian community

In Muckamore we strive to encourage our people to live and share the Gospel - that amazing news of Jesus - wherever they relate to people in their daily lives. The great news of Jesus is not just for Sunday mornings - it’s for every day of the week. This means thinking of our workplaces, homes and neighbourhoods as the location of our mission work. It means creating a church culture where we celebrate day-to-day gospel living in the worlds in which we live, and creatively discussing and challenging ourselves about how we can use our daily routines for Jesus.

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MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland TRUSTEES ANNUAL REPORT (cont’d)

Value 2: A ‘disciple-making’ Christian community

In Muckamore we are a community of people committed to helping one another to fulfil God’s calling on our lives in formal and informal ways, and to encourage one another to become disciple-making believers. That means helping our people to find creative and appropriate ways to go to those who don’t know Jesus, with generosity, humility and purpose. It is our prayer that Muckamore will in time become a place where people can learn, where they can be ‘real’, where they can share questions and intimate discoveries, struggles and joys, temptations and failures, sins and triumphs, and where they can find relationships of support and accountability.

These two key values influence and shape our view of mission, of reaching out to the local community and to the wider world. As believers and followers of Jesus we believe we are called to live distinctively as Jesus did, and to speak and act as such in the neighbourhoods in which we live, in the groups and clubs to which we belong, in the churches where we are members, as well as affecting the workplace and communities of which we are part. We believe this distinctive living lies not only at the heart of our mission as Christian people, but also forms the basis of our mission to the world around, both local and global.

And so, we commit ourselves to:

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MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

TRUSTEES ANNUAL REPORT (cont’d)

ACTIVITIES AND OBJECTIVES

The congregation meets for worship every Sunday and visitors are welcome to join. The Sacrament of the Lord’s Supper is observed on several occasions during the year and all those who have been baptised and who have made a profession of faith in the Lord Jesus Christ are admitted to the Lord’s Supper. The congregation holds regular bible study meetings and has a wide range of organisations including

ACHIEVEMENTS AND PERFORMANCE

Worship and prayer

The congregation normally meets for worship each Sunday at 11.00am and 7.00pm. (Evening Services are 2nd and 4th Sunday only). Life Groups commenced in September 2023, meeting on the 3[rd] Sunday of the month. This takes the form of small groups where people can study and discuss God’s word together, deepen their relationship with God and develop friendships. During the week the Mid-Week Bible Study provides an opportunity for members to meet together for fellowship, to study the scriptures and for a time of prayer.

We welcomed 15 new communicant members during 2023, 10 by transfer from other congregations and 5 by profession of faith.

As well as our regular services during the year we acknowledge God’s gift of new life at Sacraments of Baptism, however we had no baptisms during 2023. We also conduct marriage services however, there were none in 2023. We also carry out funeral services where we give thanks for faithful service and seek to comfort those who have been bereaved, there were 8 funeral services conducted in 2023.

At 31 December 2023 there were 248 (2022:254) communicant members and 205 (2022:212) families connected with the congregation.

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MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

The average weekly attendance at morning worship is 250 (2022:250) and for evening services, average attendance is 80.

TRUSTEES ANNUAL REPORT (cont’d)

Pastoral care

Members of the congregation who are unable to attend church due to sickness or age are visited on a regular basis by the minister, elders or the congregation’s Pastoral Visitor.

Mission and outreach

At a local level the congregation is involved in charities and organisations which seek to bring the hope and love of Jesus to people in local communities beyond Muckamore and in other parts of the world.

At Muckamore we actively support five Missions organisations which are involved in reaching out to people of different backgrounds, ages and life experiences both locally and internationally.

The congregation supports the United Appeal for Mission which is a central fund of the Presbyterian Church in Ireland. This fund enables congregations to support the wider mission of the denomination and to do mission and outreach on denominational basis beyond what the congregation could do on its own. The United Appeal Fund provides financial support for mission personnel at home and overseas, assists congregations with the deployment of locally based staff, enables church planting, provides grant support for the upkeep of church premises, assists with the running costs of Union Theological College, the Church’s training college for ministry students, and financially supports congregations in the areas of worship, discipleship, global mission, outreach, leadership and pastoral care. The congregation also supports yearly requests for the World Development Appeal and Presbyterian Children’s Society.

Presbytery

The congregation was represented at the regular meetings of Presbytery by our minister and / or one of the elders. This provides an important link between the congregations and the wider structures of the church.

General Assembly

The minister and one of our elders were nominated to attend the meeting of the General Assembly of the Presbyterian Church in Ireland held in Assembly Buildings, Belfast, in June.

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MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

Volunteers

The Trustees wish to acknowledge their deep appreciation of those who give freely of their time by serving on committees and helping with organisations and other church activities.

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MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

TRUSTEES ANNUAL REPORT (cont’d)

PUBLIC BENEFIT STATEMENT

The Presbyterian Church in Ireland meets the public benefit requirement by providing benefit to its members and the general public by making known the Christian Gospel of the Lord Jesus Christ through the advancement of religion.

The direct benefits which flow from the purposes of the Church include the gaining of an understanding in Christian beliefs as set out in the Bible and in the Church’s subordinate standards (the Westminster Confession of Faith and the Shorter and Larger Catechisms) leading to spiritual and moral development and opportunities for response to Bible teaching. In turn, this framework leads to practical expressions of Christian beliefs and standards in the local community such as through the care of those in need (including the sick, disabled and bereaved).

Generally the above benefits are delivered locally by congregations and their members, or are facilitated through presbyteries or are organised and delivered centrally. Local delivery is facilitated by central resources in almost all cases. Public access is made known through the use of noticeboards, printed material, press advertisement, websites, and social media or in other ways.

The benefits are demonstrated through regular evaluation of the services and informal and ad-hoc feedback from members, their families, and members of the public.

The purpose does not lead to harm. The only private benefit flowing from our purpose is related to Ministers, Missionaries, Deaconesses, Irish Mission workers and Lay Agents who receive benefits as a result of their holding office or employment. However, this is incidental and necessary in order to further our charitable purpose. There are no other private benefits. The beneficiaries of this purpose are members, their families, other individuals that the Presbyterian Church in Ireland is in direct and indirect contact with, the community in which pastoral services are provided and other communities throughout Northern Ireland, the Republic of Ireland, and worldwide which benefit from our engagement with and support for both Christian and other secular organisations, charities and individual members of the public.

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MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

TRUSTEES ANNUAL REPORT (cont’d)

The Kirk Session has had regard to the Charity Commission’s public benefit requirement statutory guidance.

FINANCIAL REVIEW

The congregation’s main source of income is members’ contributions through the Weekly Freewill Offering. There were 193 (2022: 183) contributors during the year.

Total Income of the congregation during the year was £250,691 (2022: £311,235).

Total expenditure during the year was £281,440 (2022: £296,997).

RESPONSIBILITIES IN RESPECT OF THE FINANCIAL STATEMENTS

The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

The Trustees are required to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the congregation and the financial activities for that year. In preparing the financial statements the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the fund’s transactions and disclose with reasonable accuracy at any time the financial position of the congregation and enable them to ensure that the financial statements comply with the Statement of Recommended Practice “Accounting and Reporting by Charities (1 January 2019)”. They are also responsible for safeguarding the assets of the congregation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

TRUSTEES ANNUAL REPORT (cont’d)

GOING CONCERN

The activities of the congregation are dependent on ongoing contributions from its members. The Trustees are of the opinion that the congregation has sufficient resources at the date of approval of these financial statements to meet commitments which will arise in the year from the date of signing this report and subject to the continuing support from members to fund on an ongoing basis the congregation’s current activities and other financial commitments.

RESERVES POLICY

The Trustees have considered the level of unrestricted reserves that it is appropriate to hold taking account of current and ongoing commitments. It is the policy of the Trustees to hold at least 3 months’ normal expenditure. At the year end unrestricted reserves were £252,090 which represents a higher level of reserves. The Trustees however, consider it prudent to hold reserves at this level as the funding of its present activities is dependent on the ongoing financial support of members. Furthermore, as staffing priorities change, this reserves figure will need to be kept under review.

RISK REVIEW

A review of major risks has been undertaken by the Trustees and systems and procedures implemented to manage identified risks. The principal risks are in relation to the likelihood of reputational damage and financial risks associated with the expectation of ongoing financial support from members. These risks are mitigated by the Trustees, and the Congregational Committee, regularly monitoring the various activities of the congregation at stated meetings and by encouraging members in their regular giving.

Approved by the Kirk Session on Tuesday 21[st] May 2024 and signed on its behalf by:

Dr Brian Hill

Clerk of Session

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MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

UNQUALIFIED INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF MUCKAMORE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

I report on the accounts of the trust for the year ended 31[st] December 2023, which are set out on pages 14 to 30.

Respective responsibilities of charity trustees and examiner

As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act (Northern Ireland) 2008. Having satisfied myself that the trust is eligible for independent examination, it is my responsibility to:

Basis of independent examiner’s report

I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act.

My examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts and seeking explanations from you as charity trustees concerning any such matters.

My role is to state whether any material matters have come to my attention giving me cause to believe:

  1. That accounting records were not kept in accordance with section 63 of the Charities Act;

  2. That the accounts do not accord with those accounting records;

  3. That the accounts do not comply with the accounting requirements of the Charities Act and with the methods and principles of the 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; and

  4. That there is further information needed for a proper understanding of the accounts to be reached.

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MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland UNQUALIFIED INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF MUCKAMORE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND (CONTINUED)

Independent examiner’s statement

Since your charity’s gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Chartered Accountants Ireland which is one of the listed bodies.

I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.

Richard Whan FCA

Richard Whan & Co Chartered Accountants Limited River House High Street Belfast BT1 2BE

Date:

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MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland STATEMENT OF FINANCIAL ACTIVITY for the year ended 31 December 2023

Notes Unrestricted
Funds		 Restricted
Funds		 Endowment
Funds		 Total Funds
2023		 Total Funds
2022
£ £ £ £ £
Income and Endowments from:
Donations and legacies 2 168,651 61,810 - 230,461 307,781
Charitable activities 3 - 16,723 - 16,723 827
Other income 4 1,177 - 1,177 1,981
Investments 5 2,163 - 167 2,330 646
---------- ---------- ---------- ---------- ----------
Total 171,991 78,533 167 250,691 311,235
---------- ---------- ---------- ---------- ----------
Expenditure on:
Raising funds 6 - - - - -
Charitable activities 7 137,307 144,133 0 281,440 296,997
---------- ---------- ---------- ---------- ----------
Total expenditure 137,307 144,133 0 281,440 296,997
---------- ---------- ---------- ---------- ----------
Net gains/(losses) on investments 11 - (915) (915) 925
---------- ---------- ---------- ---------- ----------
Net Income / (expenditure) 34,684 (65,600) (748) (31,664) 15,163
Transfers between funds 15 167 (167) - -
---------- ---------- ---------- ---------- ----------
Net movement in funds 34,851 (65,600) (915) (31,664) 15,163
Reconciliation of funds:
Total funds brought forward 217,239 2,526,257 9,458 2,752,954 2,737,792
---------- --------- ---------- ---------- ----------
Total funds carried forward 252,090 2,460,657 8,543 2,721,290 2,752,955
====== ====== ====== ====== ======

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MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

BALANCE SHEET

As at 31 December 2023

ALANCE SHEET
s at 31 December 2023
Notes Unrestricted
Funds		 Restricted
Funds		 Endowment
Funds		 Total Funds
2023		 Total Funds
2022
£ £ £ £ £
Fixed assets:
Tangible assets 10 - 2,411,434 - 2,411,434 2,469,059
Investments 11 813 - 8,543 9,356 10,271
---------- ---------- ---------- ---------- ----------
Total fixed assets 813 2,411,434 8,543 2,420,790 2,479,330
---------- ---------- ---------- ---------- ----------
Current assets
Debtors 12 10,985 3,691 - 14,676 16,421
Cash at bank and in hand 13 245,991 52,889 - 298,880 269,458
---------- ---------- ---------- ---------- ----------
Total current assets 256,976 56,580 0 313,556 285,879
---------- ---------- ---------- ---------- ----------
Current liabilities 14 (5,699) (7,357) (13,056) (12,254)
---------- ---------- ---------- ---------- ----------
Total net assets 252,090 2,460,657 8,543 2,721,290 2,752,955
---------- ---------- ---------- ---------- ----------
Funds of the charity
Endowment funds 15 - - 8,543 8,543 9,458
Restricted income funds 15 - 49,223 - 49,223 57,199
Unrestricted funds 15 252,090 - - 252,090 217,239
Revaluation reserve 15 - 2,411,434 - 2,411,434 2,469.059
--------- --------- --------- --------- ---------
Total charity funds 252,090 2,460,657 8,543 2,721,290 2,752,955
---------- ---------- --------- ---------- ----------

Approved by the Kirk Session on Tuesday 21[st] May 2024 and signed on its behalf by

Dr Brian Hill Clerk of Session

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MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland NOTES TO THE ACCOUNTS 31 December 2023

1. ACCOUNTING POLICIES

BASIS OF FINANCIAL 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 Land and Buildings, which are shown at valuation. 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.

Advantage has been taken of the provisions in the SORP for charities applying FRS102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

Being below the charity audit threshold, the congregation is exempt from reporting expenditure on an activity basis and has opted to report by the nature of expenditure rather than on an activity 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.

INCOMING RESOURCES

(i) Recognition of incoming resources

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

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MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS (cont’d)

31 December 2023

1. ACCOUNTING POLICIES (cont’d)

(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) Volunteer help

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

(vii) Investment income

This is included in the accounts when receivable.

(viii) Investment gains and losses

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

(ix) Liability recognition

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

(x) 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.

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MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS (cont’d)

31 December 2023

1. ACCOUNTING POLICIES (cont’d)

(xi) 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 .

(xii) 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 per capita, staff costs by the time spent and other costs by their usage.

ASSETS

(xiii) Tangible Fixed Assets

Tangible fixed assets for use by the charity are capitalised if they can be used for more than one year. They are valued at cost for new assets, depreciated replacement cost (land & buildings) which is based on the insurance valuation as at 1 January 2016 for existing assets at that time or, if gifted, at the value to the charity on receipt. Depreciation is recorded on all tangible fixed assets other than freehold land which is not depreciated, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life as follows:

Buildings: Fixtures, fittings and equipment

(xiv) 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.

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MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland NOTES TO THE ACCOUNTS (cont’d) 31 December 2023

2. DONATIONS AND LEGACIES

Unrestricted
Funds		 Restricted
Funds		 Endowment Funds Total Funds
2023		 Total Funds
2022
£ £ £ £ £
Recorded giving:
Loose collections 6,503 530 - 7,033 1,968
Donations and gifts 140,560 52,170 - 192,730 193,511
Gift Aid 21,588 9,110 - 30,698 31,530
Legacies and bequest - - - 80,772
---------- ---------- ---------- ---------- ----------
168,651 61,810 - 230,461 307,781
---------- ---------- ---------- ---------- ----------
.
CHARITABLE ACTIVITIES
Unrestricted
Funds		 Restricted
Funds		 Endowment Funds Total Funds
2023		 Total Funds
2022
£ £ £ £ £
Income from charitable activities
Membership fees, dues, and 14,854 14,854 -
contributions to the cost of
specific charitable events or
services
Fundraising events - 1,869 - 1,869 827
---------- ---------- ---------- ---------- ----------
- 16,723 - 16,723 827
---------- ---------- ---------- ---------- ----------

3. CHARITABLE ACTIVITIES

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MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland NOTES TO THE ACCOUNTS (cont’d)

31 December 2023

4. OTHER TRADING ACTIVITIES

Unrestricted
Funds		 Restricted Funds Endowment Funds Total Funds
2023		 Total Funds 2022
£ £ £ £ £
Letting of premises 52 52
Funeral Catering 1,100 - - 1,100 -
Other income 25 - - 25 2
Education grant 1,979
---------- ---------- ---------- ---------- ----------
1,177 - - 1,177 1,981
---------- ---------- ---------- ---------- ----------
. INVESTMENTS
Unrestricted
Funds		 Restricted Funds Endowment Funds Total Funds
2023		 Total Funds 2022
£ £ £ £ £
Deposit interest 2,163 - - 2,163 473
Dividends - - 167 167 173
---------- ---------- ---------- ---------- ----------
2,163 0 167 2,330 646
---------- ---------- ---------- ---------- ----------

5. INVESTMENTS

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MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS (cont’d)

31 December 2023

6. RAISING FUNDS

Unrestricted
Funds		 Restricted
Funds		 Endowment Funds Total Funds
2023		 Total Funds
2022
£ £ £ £ £
Fundraising events - - - - -
---------- ---------- ---------- ---------- ----------
- - - - -
---------- ---------- ---------- ---------- ----------
.
CHARITABLE ACTIVITIES
Unrestricted
Funds		 Restricted
Funds		 Endowment Funds Total Funds
2023		 Total Funds
2022
£ £ £ £ £
By fund:
General Assembly Assessments 14,451 12,395 - 26,846 20,696
Presbytery fees 1,004 - - 1,004 1,652
Ministry and support staff costs 96,194 - - 96,194 59,378
Congregational running
expenses (includes 7a below)		 23,820 106,981 - 130,801 163,918
Donations to Missions and
charities		 750 20,626 - 21,376 50,033
Governance costs 1,088 1,088 1,320
Other Expenses reimbursed by
members (outings, hoodies etc)		 4,131 4,131
---------- ---------- ---------- ---------- ----------
137,307 144,133 - 281,440 296,997
---------- ---------- ---------- ---------- ----------

7. CHARITABLE ACTIVITIES

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MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland NOTES TO THE ACCOUNTS (cont’d)

31 December 2023

7a. INDEPENDENT EXAMINER’S FEES

a.
INDEPENDENT EXAMINER’S FEES
2023 2022
£ £
Independent examiners fees 800 720
---------- ----------

8. EMPLOYEES

Employment Costs (including minister’s stipend)

Total Funds
2023		 Total Funds
2022
£ £
Wages and Salaries 69,344 46,957
Social Security Costs 9,078 2,653
Pension contributions (see note 9) 10,080 5,236
Other (apprenticeship levy) 211 108
---------- ----------
88,713 54,954
---------- ----------

Number of Employees

The average number of employees, including the minister of the congregation, during the year was:

2023 2022
Average number of employees 4 3
---------- ----------

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MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

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

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MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland NOTES TO THE ACCOUNTS (cont’d)

31 December 2023

9. 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. 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 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 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 24% of pensionable salaries to cover the accrual of benefits for future service, expenses, the cost of insuring death in service benefits and funding the scheme deficit. The other members of staff are part of a defined contribution scheme run by NEST.

The contributions made by the congregation during the year were

£ £ Contributions 10,080 5,236 ---------- ----------

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MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland NOTES TO THE ACCOUNTS (cont’d)

31 December 2023

10. TANGIBLE FIXED ASSETS

Land &
Buildings		 Fixtures and
Fittings		 Total
£ £ £
Cost or valuation
At start of year 2,868,080 5,059 2,873,139
Additions - - -
Disposals - - -
---------- ---------- ----------
At end of year 2,868,080 5,059 2,873,139
---------- ---------- ----------
Depreciation
At start of year 400,070 4,010 404,080
Charge for year 57,362 263 57,625
Release on disposals - - -
---------- ---------- ----------
At end of year 457,432 4,273 461,705
---------- ---------- ----------
Net Book Value
At start of year 2,468,010 1,049 2,469,059
---------- ---------- ----------
At end of year 2,410,648 786 2,411,434
---------- ---------- ----------

Land is carried at a depreciated replacement cost of £nil.

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MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland NOTES TO THE ACCOUNTS (cont’d) 31 December 2023

11. INVESTMENTS

Unrestricted
Funds		 Restricted
Funds		 Endowment
Funds		 Total
Funds
2023		 Total
Funds
2022
£ £ £ £ £
General Investment Fund - - 8,543 8,543 9,458
Listed Investments 813 - - 813 813
---------- ---------- ---------- ---------- ----------
813 - 8,543 9,356 10,271
====== ====== ====== ====== ======
2023 2022
£ £
Value at start of year 813 - 9,458 10,271 9,346
Gains / (Losses on revaluation) - (915) (915) 925
---------- ---------- ---------- ---------- ----------
Value at end of year 813 - 8,543 9,356 10,271
====== ====== ====== ====== ======
2. DEBTORS
Unrestricted
Funds		 Restricted
Funds		 Endowment
Funds		 Total
Funds
2023		 Total
Funds
2022
£ £ £ £ £
Gift Aid Recoverable 10,985 3,691 14,676 16,170
Prepayment 250
---------- ---------- ---------- ---------- ----------
10,985 3,691 14,676 16,420
====== ====== ====== ====== ======

12. DEBTORS

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MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland NOTES TO THE ACCOUNTS (cont’d)

31 December 2023

13. CASH AT BANK AND IN HAND

General No 1 Account
Missions Fund
Uganda Project
Property Fund
Music fund
Development Fund
Santander
Danske Deposit Account
The Hub
PW
Ladies Bible Study Group
Badminton Club
Bowling Club
Friendship Club
Muckamore Tots
BB
GB		 Unrestricted
Funds
Restricted
Funds
Endowment
Funds
Total
Funds
2023
Total
Funds
2022
£
£
£
£
£
91,965 4,071
-
96,036203,545
4,445
-
4,445
7,998
9,134
9,134
9,134
- 13,489
-
13,489
15,249
- 3,696
-
3,696
3,890
- 4,926
-
4,926
14,689

2,201
-
-2,201
2,201
151,825
151,825
-
- 799
-
799
812
- 411
-
411
349
- 204
-
204
171
- 1,576
-
1,576
1,478
- 2,294
-
2,294
1,012
- 46
-
46
98
- 233
-
233
501
- 4,229
-
4,229
6,077
3,336
-
3,336
2,254
245,991
52,889
-
298,880269,458

14. CREDITORS DUE LESS THAN ONE YEAR

Accruals

----- Start of picture text -----
Total Total
Funds Funds
2023 2022
£ £ £ £ £
5,699 7,357 13,056 12,254
Unrestricted Funds Restricted Funds Endowment Funds
----- End of picture text -----

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MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

5,699 7,357 13,056 12,254

NOTES TO THE ACCOUNTS (cont’d)

31 December 2023

15. FUND BALANCES AND RECONCILIATION OF FUNDS

Fund Balance at Income Expenditu Gains/ Transfer Balance at
start re Losses end
£ £ £ £ £ £
Unrestricted Funds
Total Unrestricted Funds 217,239 171,991 (137,307) 167 252,090
---------- ---------- ---------- ---------- ---------- ----------
Restricted Funds
Missions Fund - 20,575 (18,759) - - 1,816
Uganda Project Fund 9,134 - - - - 9,134
Property Fund 15,903 10,650 (12,630) - - 13,923
Music fund 3,890 (194) - - 3,696
Development Fund 14,983 10,009 (19,319) - - 5,673
The Hub 812 1,630 (1,643) - - 799
PW 349 3,992 (3,930) - - 411
Ladies Bible Study Group 171 318 (285) - - 204
Badminton Club 1,478 181 (83) - - 1,576
Bowling Club 1,012 1,900 (618) - - 2,294
Friendship Club 98 687 (739) - - 46
Muckamore Tots 501 788 (1,057) - - 232
BB 6,077 5,434 (7,283) - - 4,228
GB 2,254 8,394 (7,312) - - 3,336
Christmas Tree Festival - 2,740 (1,700) 1,040
Africare - 225 (225) -
Leprosy Mission 14 1,042 (775) - - 281
Presbyterian Children's Society 208 901 (910) - - 199
World Development Appeal 314 1,898 (1,877) - - 335
Tearfund - 6,450 (6,450) - - -
Nathanael & Elizabet Spicak - - - - - -
Majed & Anna Tinawi - 125 (125) - - -
Presbyterian Hearld 594 (594) - - -
Fixed assets 2,469,059 - (57,625) - - 2,411,434
---------- ---------- ---------- ---------- ---------- ----------
2,526,257 78,533 (144,133) - 2,460,657
---------- ---------- ---------- ---------- ---------- ----------
Endowment Funds
Total Endowment Funds 9,458 167 - (915) (167) 8,543

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MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

---------- ---------- ---------- ---------- ---------- ----------
Total 2,752,954 250,691 (281,440) (915) - 2,721,290
---------- ---------- ---------- ---------- ---------- ----------

NOTES TO THE ACCOUNTS (cont’d) 31 December 2023

RESTRICTED FUNDS

Name of restricted fund Description, nature and purposes of the fund
Missions Fund To provide funding for local and overseas missionaries
Uganda Project Fund To provide for overseas trips and resources in Uganda
Overseas Mission Trip Fund To provide for overseas mission trips
Property Fund To provide for repairs and additions to the property
Development Fund To provide for development of the church property
The Hub Funds for the use of the youth fellowship
PW Funds for the use of the Presbyterian Women group
Ladies Bible Study Group Funds for the use of the Ladies Bible study group
Badminton Club Funds for the use of the Badminton Club
Bowling Club Funds for the use of the Bowling Club
Friendship Club Funds for the use of the Friendship Club
Muckamore Tots Funds for the use of the Muckamore tots
BB Funds for the use of the Boys’ Brigade
GB Funds for the use of the Girls’ Brigade
Moderator's Appeals Funds received for Moderator’s Appeals (includes gift aid)
Leprosy Mission Funds for the work of the Leprosy Mission (includes gift aid)
Presbyterian Children's Society Funds for the work of the Presbyterian Children's Society (includes gift aid)
World Development Appeal Funds for the work of the World Development Appeal (includes gift aid)
Tearfund Funds for the work of the Tearfund (includes gift aid)
Christmas Tree Festival Funds for the work of various charities.
Periodicals Funds for bible reading notes
Fixed assets Fixed assets for the use of the congregation

ENDOWMENT FUNDS

Name of restricted fund Description, nature and purposes of the fund Sunday school fund The funds are permanent endowments to provide funding towards the costs of the Sunday school

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MUCKAMORE PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS (cont’d) 31 December 2023

16. RELATED PARTY TRANSACTION

One of the Trustees, Rev Stephen McNie, the minister of the congregation, received remuneration of £42,500 (2022: £21,556) and expenses of £3,096 (2022: £Nil) for acting in that capacity. Pension contributions of £10,080 (2022: £5,173) were paid by the congregation in respect of the minister to the Presbyterian Church in Ireland Pension Scheme (2009). None of the other trustees received any remuneration.

Jane Hill, a close family member of a trustee, was employed by Muckamore Presbyterian Church during the year, receiving a salary of £6,627 (2022: £6,311).

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

£14,451 (2022: £8,294) for congregational assessments £12,395 (2022: £12,402) towards the United Appeal £1,877(2022: £2,339) toward the World Development Appeal

The congregation contributed £1,003 (2022: £1,652) towards Presbytery Assessments during the year.

There were no other related party transactions.

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