FIRST ARMAGH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
TRUSTEES ANNUAL REPORT
FINANCIAL REVIEW
The congregation’s main source of income is members’ contributions through the Weekly Freewill Offering. There were 178 contributing families during 2022 (2021 – 178) donating a total of £106,414 through recorded giving (2021 - £106,478). Reclaim of tax on donations through the Government’s Gift Aid scheme is also a significant source of income for the congregation with £22,983 reclaimed in 2022 (2021 - £19,619). Total Income of the congregation during the year was £176,297 (2021 - £136,911).
Total expenditure was £147,219 in 2022 (2021 - £125,300).
During the year the congregation sold the manse situated on Newry Road, Armagh and purchased a replacement at College Hill, Armagh.
The income received less expenditure incurred, as noted above, resulted in net receipts for 2022 of £29,078 (2021 – Net receipts of £11,611) with funds carried forward at 31 December 2022 of £367,425 (2021 - £213,371).
STATEMENT OF TRUSTEE RESPONSIBILITIES
The Trustees are responsible for preparing the annual report and the financial statements of the congregation in accordance with applicable law and generally accepted accounting practice.
As the congregation’s total income does not exceed £250,000, the Trustees have elected under Section 64(3) of the Charities Act (Northern Ireland) 2008 to prepare a receipts and payment account and a statement of assets and liabilities.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the congregation’s transactions and disclose with reasonable accuracy at any time its financial position. 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.
Approved by the Kirk Session at a meeting on 26 May 2023 and signed on its behalf by:
D Harrison J Leeman
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FIRST ARMAGH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the year ended 31 December 2022
| Note | Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|---|
| Funds | Funds | Funds | 2022 | 2021 | ||
| £ | £ | £ | £ | £ | ||
| Receipts | ||||||
| Donations and legacies | 2 | 128,157 | 12,060 | - | 140,217 | 130,394 |
| Charitable activities | 3 | 100 | 8,346 | - | 8,446 | 3,885 |
| Other trading activities | 4 | 1,708 | 564 | - | 2,272 | 2,003 |
| Investment Income | 5 | 1,720 | - | - | 1,720 | 534 |
| Other | 6 | 14,018 | 9,624 | - | 23,642 | 95 |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| 145,703 | 30,594 | - | 176,297 | 136,911 | ||
| Sale of Investments | ||||||
| Sale of fixed assets | 10 | - | 436,851 | - | 436,851 | - |
| Loans Received | - | - | - | - | - | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Total Receipts | 145,703 | 467,445 | - | 613,148 | 136,911 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Payments | ||||||
| Raising funds | 7 | - | - | - | - | |
| Charitable activities | 8 | 77,393 | 18,897 | - | 96,290 | 114,712 |
| Investment costs | 385 | 66 | - | 451 | 370 | |
| Other | 9 | 38,217 | 12,261 | - | 50,478 | 10,218 |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| 115,995 | 31,224 | - | 147,219 | 125,300 | ||
| Purchase of Investments | - | - | - | - | - |
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| Purchase of fixed assets | 10 | - | 311,873 | - | 311,873 | - |
|---|---|---|---|---|---|---|
| Loan Repayments | - | - | - | - | - | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Total Payments | 115,995 | 343,098 | - | 459,093 | 125,300 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Net receipts / (payments) | 29,708 | 124,347 | - | 154,055 | 11,611 | |
| Transfers between funds | - | - | - | - | - | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Net movement in funds | 29,708 | 124,347 | - | 154,055 | 11,611 | |
| Funds brought forward | 190,159 | 10,112 | 13,100 | 213,371 | 201,760 | |
| ---------- | --------- | ---------- | --------- | ---------- | ||
| Funds carried forward | 12 | 219,867 | 134,459 | 13,100 | 367,426 | 213,371 |
| ====== | ====== | ====== | ====== | ====== |
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FIRST ARMAGH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
STATEMENT OF ASSETS AND LIABILITIES As at 31 December 2022
| s at 31 December 2022 | |||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | Total | |
| Funds | Funds | Funds | Funds | Funds | |
| 2022 | 2021 | ||||
| £ | £ | £ | £ | £ | |
| Funds Reconciliation | |||||
| Bank and Cash at start of year | 190,159 | 10,112 | 13,100 | 213,371 | 201,760 |
| Net movement in funds | 29,708 | 124,347 | - | 154,055 | 11,611 |
| ---------- | ---------- | ---------- | --------- | ---------- | |
| Bank and Cash at end of year | 219,867 | 134,459 | 13,100 | 367,426 | 213,371 |
| ======= | ======= | ======= | ======= | ======= | |
| Bank & Cash Balances | |||||
| Bank Deposit Accounts | 69,416 | 68,597 | |||
| Bank Current Accounts | 297,871 | 144,423 | |||
| Cash in Hand | 139 | 351 | |||
| ---------- | ---------- | ||||
| 367,426 | 213,371 | ||||
| ======= | ======= | ||||
| Other Assets | |||||
| Investments – Note 11 | 7,821 | 8,522 | |||
| ----------- | ---------- | ||||
| 7,821 | 8,522 | ||||
| ======= | ======= | ||||
| Liabilities | |||||
| Loans | - | - | |||
| Other | - | - | |||
| ---------- | ---------- | ||||
| ====== |
====== |
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Approved by the Kirk Session at a meeting on 26 May 2023 and signed on its behalf by
D Harrison
J Leeman
5
FIRST ARMAGH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2022
1. ACCOUNTING POLICIES
BASIS OF FINANCIAL STATEMENTS
As the total income of the congregation is less than £250,000 the congregation have elected in accordance with the provisions in The Charities (Accounts and Reports Regulations (Northern Ireland) 2015 to prepare its accounts on a receipts and payments basis.
FUND ACCOUNTING
Endowment funds are funds, the capital of which must be retained either permanently or at the congregation’s discretion; the income derived from the endowment is to be used either as restricted or unrestricted income funds depending upon the purpose for which the endowment was established in the first place.
Restricted funds comprise (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.
2. DONATIONS AND LEGACIES
| Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2022 | 2021 | |
| £ | £ | £ | £ | £ | |
| Recorded giving | 97,097 | 9,317 | - | 106,414 | 106,478 |
| Loose collections | 1,309 | 181 | - | 1,490 | 1,025 |
| Donations and gifts | 8,798 | 532 | - | 9,330 | 3,297 |
| Gift Aid | 20,953 | 2,030 | - | 22,983 | 19,594 |
| Legacies and bequest | - | - | - | - | - |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 128,157 | 12,060 | - | 140,217 | 130,394 |
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FIRST ARMAGH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
NOTES TO THE ACCOUNTS 31 December 2022
3. CHARITABLE ACTIVITIES
| Unrestricted | Restricted | Endowment | Total | Total | ||
|---|---|---|---|---|---|---|
| Funds | Funds | Funds | 2022 | 2021 | ||
| £ | £ | £ | £ | £ | ||
| Income from charitable activities | - | 6,881 | - | 6,881 | 3,610 | |
| Fees from weddings and funerals | - | 500 | - | 500 | - | |
| Fundraising events | 100 | 965 | - | 1,065 | 250 | |
| Membership fees | - | - | - | - | - | |
| Grants | - | - | - | - | - | |
| Gift Aid | - | - | - | - | 25 | |
| --------- | ---------- | ---------- | ---------- | ---------- | ||
| 100 | 8,346 | - | 8,446 | 3,885 | ||
| 4. OTHER TRADING ACTIVITIES | ||||||
| Unrestricted | Restricted | Endowment | Total | Total | ||
| Funds | Funds | Funds | 2022 | 2021 | ||
| £ | £ | £ | £ | £ | ||
| Letting of premises | 1,708 | - | - | 1,708 | 2,003 | |
| Other | - | 564 | - | 564 | - | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| 1,708 | 564 | - | 2,272 | 2,003 |
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5. INVESTMENT INCOME
| Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2022 | 2021 | |
| £ | £ | £ | £ | £ | |
| Deposit interest | 1,547 | - | - | 1,547 | 368 |
| General Investment Fund | 173 | - | - | 173 | 166 |
| Rents investment properties | - | - | - | - | - |
| Other investment income | - | - | - | - | - |
| ---------- | ---------- | ---------- | --------- | ---------- | |
| 1,720 | - | - | 1,720 | 534 | |
| ---------- | ---------- | ---------- | ---------- | ---------- |
6. OTHER INCOME
| Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2022 | 2021 | |
| £ | £ | £ | £ | £ | |
| Insurance claims | - | - | - | - | - |
| Other income | 545 | 9,624 | - | 10,169 | 95 |
| Transfer from General Account | 13,473 | - | - | 13,473 | - |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 14,018 | 9,624 | - | 23,642 | 95 |
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FIRST ARMAGH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d) 31 December 2022
7. RAISING FUNDS
| Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2022 | 2021 | |
| £ | £ | £ | £ | £ | |
| FWO envelopes | - | - | - | - | - |
| Fundraising events | - | - | - | - | - |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| - | - | - | - | - | |
| --------- | ---------- | ---------- | --------- | --------- | |
| CHARITABLE ACTIVITIES | |||||
| Unrestricted | Restricted | Endowment | Total | Total | |
| Funds | Funds | Funds | 2022 | 2021 | |
| £ | £ | £ | £ | £ | |
| General Assembly Assessments | 16,869 | - | - | 16,869 | 23,493 |
| Presbytery fees | 796 | - | - | 796 | 796 |
| Ministry and support staff costs | 42,199 | - | - | 42,199 | 57,416 |
| Congregational running expenses | 17,529 | - | - | 17,529 | 16,825 |
| Donations to Missions and | - | 18,897 | - | 18,897 | 16,182 |
| charities | |||||
| Governance costs | - | - | - | - | - |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 77,393 | 18,897 | - | 96,290 | 114,712 | |
| ---------- | ---------- | ---------- | ---------- | ---------- |
8. CHARITABLE ACTIVITIES
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FIRST ARMAGH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d) 31 December 2022
9. OTHER EXPENDITURE
| Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2022 | 2021 | |
| £ | £ | £ | £ | £ | |
| Repairs & maintenance expenses | 24,744 | - | - | 24,744 | 10,148 |
| Speakers | - | 80 | - | 80 | 70 |
| Materials | - | 707 | - | 707 | - |
| Catering Supplies | - | 394 | - | 394 | - |
| Transfer to Reserve Account | 13,473 | - | - | 13,473 | - |
| Other | - | 11,080 | 11,080 | - | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 38,217 | 12,261 | - | 50,478 | 10,218 | |
| ---------- | ---------- | ---------- | ---------- | ---------- |
10. FIXED ASSETS
The congregation owns the Church premises situated at Mall West, Armagh and the Church Hall situated at College Street, Armagh. The congregation sold the manse situated at 57 Newry Road, Armagh in June 2022 and purchased a replacement at 1A College Hill, Armagh in August 2022. The surplus of funds from the sale/purchase and associated costs is recorded in Fund Balances as Restricted Funds within the Reserve Account. These Restricted Funds are for the sole purpose of refurbishment of the new manse to the standards set out in the Guidelines agreed by the 2016 General Assembly. Together with the associated fixtures, fittings, plant and machinery these properties have insurance values of £3,646,718; £807,659; and £376,250 respectively at last renewal date.
11. INVESTMENTS
The congregation has the following investments. Amounts are shown at market valuation.
| General Investment Fund | 2022 2021 £ £ 7,821 8,522 |
|---|---|
| 7,821 8,522 |
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FIRST ARMAGH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d) 31 December 2022
12. FUND BALANCES
| Fund | Balance | Receipts | Payment | Surplus / | Transfer | Balance |
|---|---|---|---|---|---|---|
| at start | (Deficit) | at end | ||||
| £ | £ | £ | £ | £ | £ | |
| Unrestricted Funds | ||||||
| General Account | 7,638 | 105,269 | 97,284 | 7,985 | - | 15,623 |
| Reserve Account | 182,521 | 40,434 | 18,711 | 21,723 | - | 204,244 |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| 190,159 | 145,703 | 115,995 | 29,708 | - | 219,867 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| Restricted Funds | ||||||
| General Account | - | 26,738 | 26,738 | - | - | - |
| Reserve Account | - | 437,134 | 313,614 | 123,520 | - | 123,520 |
| Sunday School Account | 8,866 | 831 | 511 | 320 | - | 9,186 |
| Sunday School Special Collections | 68 | - | - | - | - | 68 |
| PW Account | 1,178 | 2,742 | 2,236 | 506 | - | 1,684 |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| 10,112 | 467,445 | 343,099 | 124,346 | - | 134,458 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| Endowment Funds | ||||||
| General Account | 13,100 | - | - | - | - | 13,100 |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| 13,100 | - | - | - | - | 13,100 | |
| ---------- | ----------- | ----------- | ----------- | ----------- | ---------- | |
| Total | 213,371 | 613,148 | 459,094 | 154,054 | - | 367,425 |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- |
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