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First Presbyterian Church Portadown a Congregation of the
Presbyterian Church in Ireland
Trustees, Annual Report and Financial Statements
for the year ended 31 December 2023
Registered with the Charity Commission for Northern Ireland NIC104957

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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.
REFERENCE AND ADMINISTRATIVE DETAILS
First Presbyterian Church Portadown a Congregation of the Presbyterian Church in Ireland
3 Lynden Gate Park, Portadown, Co Armagh, BT63 5YJ
Registered Charity in Northern Ireland {NIC104957)
CHARITY TRUSTEES
The charity trustees who served during the year or who were trustees as at 31 December
2023 were: .
Rev Robin Brown
Mr John Crozier
Mr Robert Dowey
Mr Samuel Gamble
Mr Eric Hammond
Mr Stephen Hunter
Mr Gary Kennedy
Mr Kenneth Mawhinney {resigned 20
February 20231
Mr Nigel Mcclelland
Mr James McKittrick
Mr William Ruddell
Mr George Russell
Mr Noel Brownlee
Dr Gilbert Carson
Mr Brian Dawson
Mrjohn Finlay
Mr Gareth Greer
Mr David Hunter
Mr Robert Irwin
Mr Mark Kent (resigned I September 2023)
Mr W J Mccavery
Mr Brian McGuire
Mr Mark Neale
Mr Phillip Patterson
PRINCIPAL OFFICE BEARERS
Minister
Clerk of Session
Church Secretary
Treasurer
Rev Robin Brown
Mr Robert Dowey
Mr Jonathan Graham
Mr Nigel Jameson

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TRUSTEES, ANNUAL REPORT (cont'd}
AUDITORS
Ruddell & Company
Chartered Accountants & Registered Auditors
16 Church Street
Dungannon
Co Tyrone
BT716AB
BANKERS
Bank of Ireland
13 Market Street
Lurgan
Co Armagh
BT66 6AR

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TRUSTEES, ANNUAL REPORT (cont'd)
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 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 role but
only a casting vote.
Stated meetings of the Kirk Session are held at least twice in each year.
To be chosen for the office of the eldership in the congregation a person must be a voting
rnember 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.
Presbytery of Armagh
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
and temporal affairs of the congregations assigned to it by the General Assembly of the
Presbyterian Church in Ireland. First Presbyterian Church Portadown has been assigned to the
Armagh 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.

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TRUSTEES, ANNUAL REPORT {cont'd)
The General Assembly
The General Assembly is the supreme court of the church, representing in one body the whole
chu rch and acting as its supreme legislative, administration and judicial authority, in dealing
with all matters brought before it. The General Assembly in 2023 was constituted from 21
th
to 24 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.
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DESCRIPTION AND PURPOSE
First Presbyterian Church Portadown 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.
The congregation's mission purposes are by the grace of God, to help people of all ages
become fully devoted followers of Jesus Christ. Our vision is, by the grace of God, to be an
inclusive, welcoming community of Christ's people of all ages, which:
is increasingly characterised by love for God, and love and concern for others.
is committed to the historic Christian gospel as revealed in the Bible;
is relevant to people of this time and place.
The congregation aims to live out its mission and vision as a family of God's people by being:
a covenant community: where our relationships are rooted in the promises of God by
living faithfully toward him and toward one another;
an intergenerational community: where adults intentionally take the lead to engage with,
encourage and nurture younger member5 to maturity in Christ;
an outward looking community: where we want the blessings of God that belong to U5 in
the gospel to become blessings for others beyond the bounds of our community.
As a congregation of the Presbyterian Church in Ireland, we believe that the Bible is the
supreme authority over all we do, and that the Westminster Confession of Faith, along
with the Larger and Shorter Catechisms set out what we understand the Bible teaches on
key matters of Christian faith and practice.

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TRUSTEES, ANNUAL REPORT {cont'd)
ACTIVITIES AND OBJECTIVES
The congregation meets for worship every Sunday morning and evening and visitors are
welcome. The sacrament of the Lord's Supper is observed on several occasions during the
year and all those 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
CLICK {ministry to children each Sunday)
Youth Fellowship
Edenderry C.E.
Senior C.E. Fellowship
"Chatterbox" for mothers and toddlers
Presbyterian Women
Edenderry Fellowship and Luncheon Club
ACHIEVEMENTS AND PERFORMANCE
Worship and prayer
The congregation normally meets for worship each Sunday at 11:00am and 6:30pm. During
the week a Bible Study provides an opportunity for members to meet for fellowship, to study
the scriptures and for a time of prayer.
As well as our regular services during the year we acknowledged God's gift of 2 new lives at
the sacrament of Baptism. We also gave thanks for faithful services and sought to comfort
those who had been bereaved during the year.
At 31 December 2023 there were 426 communicant members and 493 families connected
with the congregation.
The average weekly attendance at morning worship is 360 and at evening worship 130.
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 by one of the congregation's pastoral
visitors.

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TRUSTEES, ANNUAL REPORT (cont'd)
Mission and outreach
At a local level the congregation is pro-active in seeking to be obedient to the congregation's
mission statement which is 'Passion for Christ, Compassion for People"
This mission is
delivered through the faithful preaching of God's Word each Lord's Day, pastoral visitation
and a varied programme of weekly events and teaching through church organisations and
occasional "one ofy, outreach events. 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,
asslsts 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.
Presbytery of Armagh
The congregation was represented at the regular meetings of Presbytery by our minister and
an elder. This provides an important link between the congregation 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.
Organisations
The church has a Bible Class teaching programme each Sunday morning, and a Youth
Fellowship on alternate Sunday evening5 after church. During the week there is a Boys,
Brigade Company, a new group called Eden Girls, Edenderry C.E. on Saturday night, a Senior
Christian Endeavour, a monthly senior citizens, meeting and several prayer meetings. These
organisations cover the full range of ages and include Bible teaching and a time of prayer.
On Wednesday mornings our main hall is used by our mothers, and toddler5, group. Many
children and their carers are regular attenders.

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TRUSTEES. ANNUAL REPORT {conVd)
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.
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 using
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 f5owing from our purpose is
related to rninisters, 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.
The Kirk Session has had regard to the Charity Commission's public benefit requirement
statutory guidance.

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TRUSTEES, ANNUAL REPORT (convd)
FINANCIAL REVIEW
The principal source of income of First Presbyterian Church Portadown continues to
be from donations and plate collections.
The principal expense of First Presbyterian Church Portadown is in respect of
payments regarding congregational running expenses and donations to missions and
cha rities.
First Presbyterian Church Portadown had a net gain of £229,141.10 for the year ended
31 December 2023.
First Presbyterian Church Portadown continues to be in a healthy financial state as at
31 December 2023 with total cash funds of £567,455.81.
First Presbyterian Church Portadown aims to retain sufficient reserves to meet its expected
future expenditure requirements as well as potential future capital projects.
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 forthat
year. In preparing the financial statements the trustees are required to:
select suitable accounting policies and then apply them consistently
make judgements and estimates that are reasonable and prudent
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the funds will continue in operation.
The trustees are responsible for keeping adequate accounting records that are sufficient to
show and explain the funds, 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 2015)" 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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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 suff icient 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
reserves equivalent to between 3 and 6 months, normal expenditure. At the year-end
unrestricted reserves were £162,045.28 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 of the ongoing financial support of member5.
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
5UPPOrt 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 at a meeting on 28 May 2024 and signed on its behalf by
Mr
bert
owey
William J McKittrick
28 May 2024
28 May 2024

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UNQUALIFIED INDEPENDENT EXAMINERS OR AUDITORS REPORT TO THE TRUSTEES
OF FIRST PRESBYTERIAN CHURCH PORTADOWN A CONGREGATION OF THE
PRESBYTERIAN CHURCH IN IRELAND
Opinion
We have audited the accounts of the First Presbyterian Church Portadown for the year ended
31 December 2023 which comprise the statement of financial activities, the balance sheet
and the notes to the accounts, including a summary of significant accounting policies. The
financial reportingframework that has been applied in their preparation is applicable law and
United Kingdom Accounting Standards, including Financial Reporting Standard 102 The
Financial Reporting Standard applicable in the UK and Republic of Ireland {United Kingdom
Generally Accepted Accounting Practice).
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the
Charities (Accounts & Reports) Regulations (Northern Ireland) 2015 and regulations made
under section 66 of that Act. Our audit work has been undertaken so that we might state to
the charity's trustees those matters we are required to state them in an auditors, report and
for no other purpose. To the fullest extent permitted by law, we do not accept or assume
responsibility to anyone other than the charity and its trustees as a body, for our audit work,
for this report, or for the opinions we have formed.
In our opinion the accounts:
Give a true and fair view of the state of the charitvs affairs as at 31 December 2023
and of its incoming resources and application of resources, for the year then ended;
Have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice; and
Have been prepared in accordance with the requirements of the Charities Act
{Northern Ireland) 2008.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs
(UK)) and applicable law. Our responsibilities under those standards are further described in
the auditors, responsibilities for the audit of the accounts section of our report. We are
independent of the church in accordance with the ethical requirements that are relevant to
our audit of the accounts in the UK, includingthe FRC'S Ethical Standard, and we have fulfilled
our other ethical responsibilities in accordance with these requirement5. We believe that the
audit evidence we have obtained 15 sufficient and appropriate to provide a basis for our
opinion.
10

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UNQUALIFIED INDEPENDENT EXAMINERS OR AUDITORS REPORT TO THE TRUSTEES
OF FIRST PRESBYTERIAN CHURCH PORTADOWN CONGREGATION OF THE
PRESBYTERIAN CHURCH IN IRELAND (convd)
Conclusions relating to going concern
We have nothing to report in respect of the following matters in relations to which the ISAS
{UKI require us to report to you were:
The trustees use of the going concern basis of accounting in the preparation of the
accounts is not appropriate; or
The trustees have not disclosed in the accounts any identified material uncertainties
that may cast significant doubt about the churches ability to continue to adopt the
gong concern basis of accounting for a period of at least twelve months from the date
when the accounts are authorised for issue.
Other information
The other information comprises the information included in the 3Ctual report, other than
the accounts and our auditorfs report thereon. The trustees are responsible for the other
information. Our opinion on the accounts does not cover the other information and, except
to the extent otherwise explicitly stated in our report, we do not express any form of
assurance conclusion thereon.
In connection with our audit of the accounts, our responsibility is to read the other
information and, in doing do, consider whether the other information is materially
inconsistent with the accounts or our knowledge obtained in the audit or otherwise appears
to be materially misstated. If we identify such material inconsistencies or apparent material
misstatements, we are required to determine whether there is a material misstatement in
the accounts or a material misstatement of the other information. If, based on the work we
have performed, we conclude that there is a material misstatement of this other information;
we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the trustees and its environment obtained
in the course of the audit, we have not identified material misstatements in the trustees,
report.
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UNQUALIFIED INDEPENDENT EXAMINERS OR AUDITORS REPORT TO THE TRUSTEES
OF FIRST PRESBYfERIAN CHURCH PORTADOWN CONGREGATION OF THE
PRESBYTERIAN CHURCH IN IRELAND (cont'd)
We have nothing to report in respect of the following matters in relation to which the
Charities (Accounts and Reports) Regulation5 INorthern Ireland) 2015 requires us to report to
you if, in our opinion:
The information given in the trustees, report is inconsistent in any material respect
with the accounts; or
Sufficient accounting records have not been kept, or;
The accounts are not in agreement with the accounting records; or
We have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the statement of trustees, responsibilities, the trustees are
responsibilities for the preparation of the accounts and for being satisfied that if they give a
true and fair view, and for such internal control as the directors determine is necessary to
enable the preparation of the accounts that are free from material misstatement, whether
due to fraud or error.
In preparing the accounts, the trustees are responsible for assessing the church's ability to
continue as a going concern, disclosing, as applicable, matters related to going concern and
Using the going concern basis of accounting unless the trustees either intend to cease
operations, or have no realistic alternative but to do so.
Auditors, re5ponsibilitie5 for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the accounts as a whole
are free from material misstatement, whether due to fraud or error and to issue and auditors
report that includes ouropinion. Reasonable assurance is a high level of assurance, but is not
a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material
misstatement when it exists. Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they could reasonably be expected to influence
the economic decisions of users taken on the basis of these accounts.
A further description of our responsibilities for the audit of the accounts is located on the
Financial Reporting Council's website at.. htt
www.frc.or
auditorsres
onsibilities. This
description forms part of our auditors report.
28 May 2024
Ruddell & Company
Chartered Accountants & Registered Auditors
16 Church Street
Dungannon
Co Tyrone
BT716AB
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FIRST PRESBYTERIAN CHURCH PORTADOWN
a Congregation of The Presbyterian Church in Ireland
STATEMENT OF FINANCIAL ACTIVITY
for the year ended 31 December 2023
Income and Endowments from
Donations and legacies
Charitable activities
Other trading activities
Investments
Other
258,663.83
50,277.58
1,678.08
5,716.33
10,385.00
214,417.60
473,081.43
50,277.58
1.678.08
13.499.63
158,935.00
540,475.44
43.912.03
1.709.56
9,673.92
4,226.00
7.783.30
148,550.00
Total
326.720.82
370.750.90
697,471.72
599,996.95
Expenditure on
Raising funds
Charitable activities
Other
2,400.00
317,067.00
13.750.88
2.400.00
438.175.39
65,117.77
2,498.00
384,212.93
69,721.73
121.108.39
51,366.89
Total
333,217.88
172,475.28
505,693.16
456,432.66
Net gains/llossesl on investments
Net Income / (Expenditure)
Transfers between funds
Gains/llossesl on revaluation of
fixed assets
-6.497.06
198,275.62
191,778.56
143,564.29
-2,000.00
2,000.00
37,362.54
37.362.54
-38,956.82
Net Movement in Fund5
-8,497.06
200,275.62
37,362.54
229,141.10
104,607.47
Reconciliation of Funds
Total funds brought fonmard
170,542.34 2,314,475.95
436.941.83
2,921,960.12 2,817,352.65
Total Funds Carried Fon¥ard
162,045.28 2,514,751.57
474,304.37
3,151,101.22 2,921,960.12
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FIRST PRESBYTERIAN CHURCH PORTADOWN
a Congregation of The Presbyterian Church in Ireland
BALANCE SHEET
As at 31 December 2023
Flxed Assets
Tangible assets
Investment5
Iz
25,125.53 2,332.966.93
2,358,092.46
474,304.37
2.406,403.74
436,941.83
13
474,304.37
Total Fixed A55ets
25,125.53 2.332,966.93 474,304.37 2,832,396.83
2.843.345.57
Current Assets
Debtors
Cash at bank and in hand
14
11,435.03
142,330.93
4,523.62
425,124.88
15.958.65
567.455.81
17,890.37
372,229.45
15
Total Current Assets
153,765.96
429.648.50
583,414.46
390,119.82
LSabilities
Creditors: Amounts falling
due within one year
16
16,846.21
71.096.24
87,942.45
85,814.14
Net current Assets or
Liabilities
136,919.75
358,552.26
495,472.01
304,305.69
Total Asset5 less Current
Liabilities
Creditors.. Amounts falling
due after more than one year 17
Provisions for liabilities
162.045.28 2,691,519.19 474,304.37 3,327,868.84
3,147,651.25
176,767.62
176,767.62
225,691.13
Total Net Assets or Llabllltles
162,045.28 2,514.751.57 474,304.37 3.151,101.22
2,921.960.12
14

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FIRST PRESBYTERIAN CHURCH PORTADOWN
a Congregation of The Presbyterian Church in Ireland
BALANCE SHEET (convd)
As at 31 December 2023
Funds of the Charlty
Endowmentfunds
18
474,304.37
474.304.37
436,941.83
Restricted funds
2,514,751.57
2,514,751.57
2.314,475.95
Unrestricted funds
18
162,045.28
162,045.28
170,542.34
Revaluation reserve
18
Total Charity Funds
162,045.28
2,514,751.57 474,304.37 3,151,101.22
2,921,960.12
Approved by the Kirk Session at a meeting on 28 May 2024 and signed on its behalf by
Mr Stephen D Hunter
Mr R John Crozier
28 May 2024
28 May 2024
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FIRST PRESBYTERIAN CHURCH PORTADOWN
a Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS
31 December 2023
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
IFR5102) (effective l 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
transaction5, 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, northose
that are informal gatherings of church members.
Fund accountin
Endowment funds are funds, the capital of which must be retained either permanently or at
the congregation's di5cretion,' 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 Ib) revenue donations or grants for a specific
congregational activity intended by the donor. Where these funds have unspent balance5,
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.
Incomin
Recognition of incoming resources
These are included in the Statement of Financial Activities (SOFA) when:
the congregation become5 entitled to the resource5;
the trustees are virtually certain they will receive the resources; and
the rnonetary value can be measured with sufficient reliability.
resources
16

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FIRST PRESBYfERIAN CHURCH PORTADOWN
a Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS (cont'd)
31 December 2023
(li) Incoming resources with related expenditure
Where incoming resources have related expenditure (as with fundraising income) the
incoming resources and related expenditure are reported gr05s 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 service5 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
Thi5 is included in the accounts when receivable.
(x) 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.
17

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FIRST PRESBYfERIAN CHURCH PORTADOWN
a Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS {conVd}
31 December 2023
Ex
enditure 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 cost of trustee meetings and cost of any legal advice to
trustees on governance or constitutional matters.
(xiii) Grants with performance conditions
Where the charity gives 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
(xv) Tangible fixed assets
Tangible fixed assets for use by charity are capitalised if they can be used for more than
one year, and cost at least £1,000. They are valued at cost or, if gifted, at the value to
the charity on receipt.
The church building5 are deemed to be Heritage assets as defined by the Charities SORP
(FRS102). These Heritage assets 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 benefit to the users of the accounts and to the church.
The church halls are physically attached to the church and are not separable as an
individual asset. As such they are deemed to be Heritage assets and no value is ascribed
to them in 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 benefit to the
Users of the account5 and to the church.
18

an
FIRST PRESBYTERIAN CHURCH PORTADOWN
Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS (cont'd)
31 December 2023
The Manse is recognised at cost le55 depreciation of 50 years. The Manse has,
therefore, been fully depreciated at 31 December 2023.
Depreciation is recorded on all tangible fixed assets other than freehold land, at rates
calculated to write of the cost, less estimated residual value, of each asset over its
expected useful life as follows:
Buildings
Fixtures, fittings and equipment
Motor vehicles
Computers, software and technical equipment
over 50 years
over 10 years
over4 years
over 4 years
(xvi) 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.
19

an
FIRST PRESBYTERIAN CHURCH PORTADOWN
a Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS (convd)
31 December 2023
2. DONATIONS AND LEGACIES
Recorded giving
Loose collections
Donations and gifts
Gift Aid tax refunds
Legacies and bequests
194,183.43 174,299.40
6,987.00
2,053.00
18,641.77
3,158.15
37,351.63
34,907.05
1,500.00
368,482.83 380,232.00
9,040.00
5,213.00
21,799.92
37,291.50
72,258.68
66,688.30
1,500.00
51,050.64
258,663.83 214,417.60
473,081.43 540,475.44
CHARITABLE ACTIVITIES
Catering income
Edenderry CE Tuck Shop
Presbyterian Women
Chatterbox
Fellowship and Luncheon Club
Edenderry CE
Senior CE
Eden Girls
600.00
318.23
3,026.65
1,188.08
3,015.20
40,763.12
386.30
980.00
600.00
318.23
3,026.65
1,108.08
3,015.20
40,763.12
386.30
980.00
2,100.00
1,092.74
1,316.65
939.26
3,293.88
35,068.00
101.50
50,277.58
50,277.58
43,912.03
20

an
FIRST PRESBYTERIAN CHURCH PORTADOWN
a Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS (cont'd)
31 December 2023
4. OTHER TRADING ACTIVITIES
Ground rents receivable
1,678.08
1,678.08 1,709.56
1,678.08
1,678.08 1,709.56
INVESTMENTS
Deposit interest
Interest on Gift Aid tax refunds
General Investment Fund dividend
General Investment Fund
392.48
19.51
3,304.34
2,000.00
1,834.24
2,226.72
53,66
19.51
10.95
9,253.40 9,609.31
2,000.00
5,949.06
5,716.33
7,783.30
13,499.63 9,673.92
21

an
FIRST PRESBYTERIAN CHURCH PORTADOWN
a Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS {conVd)
31 December 2023
OTHER INCOME
Church magazines and books
Income from other events
Grants received
Miscellaneous Income
Sale of Land at Watson Street
1,360.00
2,875,00
6,000.00
150.00
1,360.00
986.00
2,875.00 3.240.00
6,000.00
200.00
148,500.00
50.00
148,500.00
10,385.00 148,550.00
158,935.00 4,226.00
Freehold Land sold at Watson Street had originally been purchased in 2016 for the cost price of
£150,000.00 plus legal fees of £2,034.00. These costs were not included in Fixed Assets when the
charity transitioned from Receipts and Payments Accounting to Accruals Accounting in 2019.
RAISING FUNDS
Freewill Offering, Property Fund and
Missionary Fund envelopes
2,400.00
2,400.00
2,498.00
2,400.00
2,400.00
2,498.00
22

an
FIRST PRESBYTERIAN CHURCH PORTADOWN
a Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS (convd)
31 December 2023
CHARITABLE ACTIVITIES
General Assembly assessments
Presbytery fees
Ministry and support staff costs
Office Administrator salary and
expenses
Cleaners, salaries
Congregational running expenses
Bankfees
30,072.50
1,018.35
104,289.68
11,506,00
30,072.50
1,018.35
104,289.68
11,506.00
29,775.24
938.20
84,363.79
10,175.30
19,748.12
62,783.20
906.48
19,748.12
17,304.00
62,783.20
58,265.96
1,392.57
1,348.24
20,463.88
14,122.71
129,315.39 110,891.19
4,083.53
9,162.29
8,663.68
42,774.62
44,838,49
5,091.39
486.09
Loan interest
Donations to missions and charities
Manse rates and maintenance
Children and youth ministries
Church events
20,463.88
29,156.97 100,158.42
4,083.53
8.663.68
44,838.49
317,067.00 121,108.39
438,175.39 384,212.93
23

an
FIRST PRESBYTERIAN CHURCH PORTADOWN
a Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS {conVdl
31 December 2023
OTHER EXPENDITURE
Catering at events
Church magazines and literature
Organisation running costs
Grants to individuals
Depreciation
8,422.30
1,025.00
765.19
2,717.00
210.00
821.39 51,156.89
8,422.30
9,646.42
1,025.00
711.00
765.19
1,751.58
2,927.00
6,001.15
51,978.28 51,611.58
13,750.88 51,366.89
65,117,77 69,721.73
10. EMPLOYEES
Employment Costs
Wages and 531aries lincluding expenses)
Social security costs
Pension contributions
128,334.58
6,385.27
12,725.45
103,226.37
8,404.59
11,547.13
147,445.30
123,178.09
24

an
FIRST PRESBYTERIAN CHURCH PORTADOWN
a Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS {conVd
31 December 2023
Number of Employees
The average number of employees, including the minister of the congregation, during the
year was:
Average number of employees
There was one employee in receipt of employee benefits between £60,000 and £70,000.
11.
PENSION COSTS
The minister of the congregation is a member of the Presbyterian Church in Ireland Pension
Scheme {20091. 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 Ire13nd
equivalent to the employerfs 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 suff iciently 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.
25

an
FIRST PRESBYTERIAN CHURCH PORTADOWN
a Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS {conVd)
31 December 2023
The contributions made by the congregation during the year were:
Contribution5
11,901.50 11,335.00
12. TANGIBLE FIXED ASSETS
Cost or valuation
At start ofyear
Additions
Disposals
2,427,374.23
30,641.09
3,667.00
2,458.015.32
3,667.00
At end ofyear
2,427,374.23
34,308.09
2,461,682.32
Depreciation
At start of year
Provision for year
Disposals
48,547.48
48,547.48
3,064.10
3,430.80
51,611.58
51,978.28
At end of year
97,094.96
6,494.90
103,589.86
Net Book Value
At end of year
2,330,279.27
27,813.19
2,358,092.46
At start of year
2,378,826.75
27,576.99
2,406,403.74
26

an
FIRST PRESBYTERIAN CHURCH PORTADOWN
a Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS (convd
31 December 2023
13. INVESTMENTS
2023
2022
General Investment Fund of the
Presbyterian Church in Ireland
474,304.37 436,941.83
474,304.37 436,941.83
2023
Value at start of year
Additions
Disp05als
Impairment
Gains/llossesl on revaluation
436,941.83
37.362.54
Value at end of year
474,304.37
14. DEBTORS
2023
2022
Recorded giving
Gift Aid tax refunds recoverable
Grants receivable
Prepayments
1,702.00
8,372.68
5,310.00
6,984.50
5,883.97
5,595.87
15,958.65
17,890.37
27

an
FIRST PRESBYTERIAN CHURCH PORTADOWN
a Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS {cont'd
31 December 2023
15. CASH AT BANKAND IN HAND
2023
2022
Bank of Ireland No l Account
Bank of Ireland No 2 Account
Bank of Ireland No 3 Account
Bank of Ireland No l Business Reserve Account
Bank of Ireland No 2 Business Reserve Account
Bank of Ireland No 4 Account
Bank of Ireland Business Reserve Account
AIB Current Account- Chatterbox
AI8 select Account- Church Choir
Savings Account- Fellowship and Luncheon Club
Ulster Bank Current Account- Edenderry CE
Ulster Bank Select Account- Senior CE
AIB Current Account- Presbyterian Women
Cash in hand
26,639.24
15,677.90
80,500.52
50,002.69
350,000.00
-5,410.00
19,108.30
420.54
436.86
1,325.34
12,592.87
347.16
657.94
15,156.45
86,738.14
17,698.16
65,804.43
2.69
140,031.31
6,320.25
45,190.18
420.54
435,32
1,124.36
3,832.48
287.86
494.34
3,849.39
567,455.81
372,229.45
16. CREDITORS: amount falling due within one year
2023
2022
Accruals
Bank loan
21,138.21
66,804.24
19,009.90
66,804.24
87.942.45
85,814.14
17. CREDITORS: amount falling due after more than one year
2023
2022
Bank loan
176,767.62
225,691.13
176,767.62
225,691.13
28

an
FIRST PRESBYTERIAN CHURCH PORTADOWN
a Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS {conVd
31 December 2023
18. FUND BALANCES AND RECONCILIATION OF FUNDS
Balance at start
Fund
Income
Expenditure
Gains/Losses
Transfer Balance at end
Unrestricted Funds
No l Account
No 3 Account
No l Business Reserve
8usiness Reserve Account
Chatterbox
Church Choir
Fellowship and Luncheon
Edenderry CE
Edenderry CE Tuck Shop
Senior CE
Presbyterian Women
Eden Girls
Fixed Assets
Debtor5
Creditors
29,976.89
64,804.43
2.69
45,190.18
1,081.70
441.82
1,124.36
3,832.48
3,181.73
287.86
494.34
247,512.02
16,845.16
255,602.37
1,183.04
-8,090.35
15,662.12
48,569.88
-966.03
50,000.00
-2,000.00
-26,683.34
79,500.52
50,002.69
19,108.30
1,400.95
443.36
1.325.34
12,592.87
3.165.17
347.16
657.94
469.97
25,125.53
11,435.03
-16,846.21
1,918.12
1,238.08
1.54
3,195.20
49.776.52
318.23
386.30
3,439.65
2,090.00
26,000.00
918.83
-24,081.88
319.25
1.54
200.98
8,636.36
-16.56
59.30
163.60
1.469.97
-821.39
2,994.22
41,140.16
334.79
327.00
3,276.05
620.03
821.39
124.03
-1,000.00
3,667.00
735.16
-3,990.28
22,279.92
10,699.87
-12,855.93
170,542.34
326,720.82
333.217.88
-6,497.06
-2,000.00
162,045.28
Re5trlcted Funds
No l Account
No 2 Account
No 2 Business Reserve
No 3 Account
No4Account
Bank Loan
Fixed Assets
Debtors
Creditors
56,761.25
17,698.16
140,031.31
1,000.00
6,320.25
-292,495.37
2.384,123.82
7,190.50
-6,153.97
26,106.25
276,790.99
1,834.24
25,531.25
303.84
575.00
533.03
276,487.15 -276,904.71
1,834.24
208,134.45
57,869.28
17,280.60
350,000.00
1,000.00
-1,025.00
-243,571.86
2,332,966.93
4.523.62
-4.292.00
66,019.42
75.019.42
20,463.88
51,156.89
-9,000.00
-20,463.88
-51,156.89
1,654.75
69,387.39
-2,666.88
1.861.97
2.314,475.95
370.750.90
172,475.28
198,275.62
2,000.00
2,514,751.57
Endowment Funds
General Investment Fund
436,941.83
37,362.54
474,304.37
436,941.83
37.362.54
474,304.37
Total
2,921,960.12
697,471.72
505,693.16
229,141.10
3,151,101.22
29

an
FIRST PRESBYTERIAN CHURCH PORTADOWN
a Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS (cont'd
31 December 2023
19.
SUBSEQUENT EVENTS
There have been no significant events affecting the charity since the year end which
require disclosure.
20.
RELATED PARTY TRANSACTIONS
One of the trustees, the minister of the congregation, received remuneration of
£63,370.72 and expenses of £4,083.53 in relation to the manse where the minister of
the congregation resides, Pension contributions of £11,901.50 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 or claimed
expenses 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:
£21,430.00 towards the United Appeal;
The congregation contributed £30,072.50 towards General Assembly assessments and
£1,018.35 towards Presbytery of Armagh assessments during the year.
There were no other related party transactions.
30