DUNDROD CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the year ended 31st December 2022 Note Unrestrlcted Funds Restrlrted Funds Endowment Funds Total 2022 Total 2021 Recel Donation5 and le8acies Charitable activities Investment Income Other Fundralsln8 85,528 1,094 169 5,748 18,959 16,298 15 2,802 10,860 104,487 17,392 195 8,550 10,860 83.324 8,051 30 19,699 li Total Recel ts 92,539 48,934 li 141,484 ments Charltable activitles Other 57,965 15,776 42,342 641 100,307 16,417 101,615 9,215 Total Pa 73,741 42,983 116,724 110,830 Net receipts / (payments) Transfer between funds 18,798 1,094 5,952 1,094 li 24,760 274 Net movement In funds Funds brought forward 19,891 5,226 4,857 42,762 li 5,250 24,759 53,238 274 52,965 Funds carrled forward io 25.117 47,619 5,261 77,997 53,239 Page 14
DUNDROD CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF ASSETS AND LIABILITY As at 31st December 2022 Unrestrlcted Funds Restrlcted Funds Endowment Funds Total Funds 2022 Total Funds 2021 Funds reconclllatlon Funds balance at start of year Net movement In funds 5,226 19,891 42,762 4,857 5,250 11 53.238 24,759 52,965 274 Funds balance at end of year 25,117 47,619 5,261 77,997 53,239 Bank and Cash Balances 8ank Deposit Accounts Bank Current Accounts Cash in Hand 5,261 5,261 72,592 144 5,250 47,845 144 25,117 47,476 140 Llablltles Loans Reserv•$ Approved by the Klrk Se551on at a meetlng on16 May 2023 and slgned on Its behalf by: Rev hard Kerr Mr William Mcclure 1928 IA dd. Qts23 Page 15
DUNDROD CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31st December 2022 I. ACCOUNTING POLICIES BASIS OF FINANCIAL STATEMENTS As the total income of the congregation is less than £250,000 the congregation has elected in accordance with the provisions in The Charitie5 (Accounts and Reports Regulations (Northern Ireland) 2015 to prepare its accounts on a receipts and payments basis. ACCOUNTING CONVENTION The accounts comply with the Charities (Accounts and Reports) Regulations (Northern Ireland 2015, the Charities Act 2008 (substitution of sums) Order {Northern Ireland) 2015 and Accounting arbd reporting by Charities: Statement of Recommended Practice applicable in the UK and Republic of Ireland (FR52012) (effective l January 20151. The accounts are prepared in £ sterling, which is the functional currency of the Charffit¥, Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared under the historical cost conventlon, modified where applicable to include the revaluation of freehold properties and to include investment properties and certain flnanclal Instruments at falr value. The principle accounting policles are set out below: GOING CONCERN At the time of approving the accoL•nts, the trustees have a reasonable expectation that the charity has adequate resources to continue its operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concern basls of accounting in preparing the accounts. 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 restrlcted or unrestricted income funds depending upon the purpose for which the endowment was established in the first place. Restr5cted funds comprise la) Sncome from endowments which is to expended only on the restricted purposes intended by the donor and (bl revenue donations or grants for a specific con8regational activity intended by the donor. Where these funds have unspent balances, Interest on the pooled investment is apportioned to the individual funds on an average balances, basis Unrestricted funds are income funds that are to be spent on the congregation's general purposes. Deslgnated funds are general fund set aside by the congregation for use in the future Donatlon and legacies These are recorded as received as entitlement arises at the stage and are classified as restricted or unrestricted according to any conditions stipulatedlintended by the donor. Recorded income represents the weekly freewill offering as collected each week. Gift Aid represents the income tax refunds received on the gift aid donations. Page 16
DUNDROD CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31st December 2022 Charltable Activities Income from charitable activities includes income earned from the supply of goods and services and from appeals recognised when received and classified accordin8 to restrictions of use. Receipts from the church activities are recognised once received. Receipts from fundraising and generating funds are recognised when received. Membership fees are recognised on receipt. Grants are recognised on receipt unless performance conditions require deferral of the amount. Appeals are recognised when the funds have been received. Other voluntary receipts Income from voluntary receipts includes income from mission boxes, weekly contributions, cla55es income and is recorded as received. Investment Income Investment income represents the bank interest received from bank5, building societies, or other financial institutions and is reco8nised on receipt. RESOURCES EXPENDED Expenditure is accounted for on a cash basis and has been classified under the headings that aggregate all costs related to the cate80ry. Where costs cannot be directly attributable to particular headings, they have been a Ilocated to activitles on a basls consistent wlth the use of resources DONATIONS AND LEGACIES Unrestrlcted Funds Restrlcted Funds Endowment Funds Total Fund$ 2022 Total Funds 2021 Recorded 8tvin8 Loose collectlons Donations and Slfts GiftAld Legacies and bequests 67,671 337 219 17.301 16,197 174 2,465 123 83,868 511 2,684 17,424 71,505 139 100 11,580 Total Page 17
DUNDROD CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31st Decernber 2022 CHARITABLE AcfiviTIES Unrestrfcted Funds Restrlcted Funds Endowrnent Funds Total Fun(ts 2022 Total Funds 2021 Missions & Charities United Appeal Organlsatlons Chat and Play I Chat and Play 2 - Petty Cash Youth Fellowship 3,427 4,441 8,330 3,427 4,441 9,324 21)0 486 6,395 i.iii 994 100 59 Total 1.094 16,298 17,392 8,051 INVESTMENT INCOME Unrestrlrted Funds Restrlrted Funds Endowment Funds Total Funds 2022 Totsl Funds 2021 Bank Interest 169 15 11 195 30 Total 169 15 li 195 OTHER INCOME Unrestrkted Funds RtrIcted Funds Endowment Fund5 Total Funds 2022 Total Funds 2021 RHI Payments General Income LCCC Grant Pulpit Suppty Refund Poppy Appeal Covld 19 Grant Period5cals Graveyard Manse Farm Conacre 2,377 2,901 2,377 4,687 2,360 907 4,827 438 1,786 182 9.170 445 950 420 466 466 470 550 470" 550 Totsl 5.748 2,802 Page 18
DUNDROD CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31st December 2022 RAISING FUNDS Unre$trlrted Funds Restrlcted Funds Endowment Funds Total Funds 2022 Totsl Funds 2021 Fundraislng event5 10,860 10,860 Total 860 CHARITABLE ACTIVITIES - Costs Unrestrlrted Funds Restrlcted Funds Endowment Fund$ Total Funds 2022 Total Funds 2021 General A55embly AessMentS Presbytery Fees Mlnl$try and support staff costs Congregatlonal runnlng expenses Mlsslon & Charltles Charltlable Actlvities Loan Organi5atlons Chat and Play 2 - Petty Cash 7.219 4,674 58,506 20,851 7,571 614 1,239 32,832 15,768 1,239 39,552 31,540 12,502 3,126 6,720 15,772 12,502 3,126 5,000 7,348 7,348 2,030 Iso Total 42,342 100,307 101615 OTHER EXPENDITURE Unrestrlcted Funds Restrlrted Funds Endowment Funds Total Funds 2022 Totsl Funds 2021 Equipment Perlodlcals Manse Farm Conacre other general expenses 1.057 681 594 6,883 478 478 15,776 163 15,939 Total 15,776 fAi 16,417 Page 19
DUNDROD CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31st December 2022 9. FIXED ASSETS The congregatlon owns the Church premises and Dundrod Old School sltuated at Dundrod Road, Dundrod: The Manse, Church Hall, Multi-use Games area, and the Biomass Unit situated at Leathemstown Road, Dundrod: Ballyhlll Old School situated at 8allyhill Road and the associated fixtures, flttings, plant, and machinery. These have a combined insurance value of £5.180,202. 10. INVESTMENTS 2022 2021 Oeta115 of the Investment as at 31112122 5,261 5,250 Total Page 20
DUNDROD CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31st December 20Z2 11. FUND BALANCES Balance at start Recelpts Payments Surplus I {Defl¢lt) Transfer Balance •t end Unrestrlcted Funds General Account Interest Free Loan 226 92,538 68,741 5.000 23.797 15,000 1.094 25,117 Total 5,226 92,538 73,741 18,797 25,117 Restrlcted Funds Restrlrted Chorlty ond Organl$otlonfvndsheld wlthln General account Mlsslon and Charities United Appeal Daity 8read 8&R B&RGIftAld Periodlcals Chat and Play I Youth Fellowshlp Football Fleld Youth Councll Henderson Memorial 4,260 53 15 729 2,630 21 447 389 205 3,697 2,5 2.767 4,441 180 3,972 7.418 135 11,2051 {2.9771 45 3,055 12.9241 729 2,597 90 466 loo 123 479 1331 {131 10) 547 389 205 3,697 2,500 Restrlrted Chorltyand Orgonlsotlonfvnds heldln separnte bank ¢7ccounts Bulldln8s & Repair 11.871 30,669 MUGAISport for all 3,183 1,000 Presberyterlan Womens Association 103 945 PW Caterin8 858 1,500 Boys 8rlgad• 3,047 3.650 Indoor Bowling 957 500 Car 8oot sales 4,457 949 Glr15 Brl8ade 3.196 1.142 Chat and Play 2- Petty C•$h 144 535 22,654 1,422 249 793 2,891 70 759 1,579 439 8,015 14221 696 707 759 430 190 14371 96 15941 iiooi 13001 19.292 2,661 499 1,565 3.806 1,387 4,647 2,759 140 iiooi Totsl 42.762 48,934 42,983 5,952 47,620 Endowment Funds 5,250 li li 5,261 Total 53,138 141,484 116 724 24,760 77,997 12. 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 Ireland equivalent to the employer's pension 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 asset5 held in a separately administered fund managed by the Board of Trustees. The Presbyterian Church and the Scheme Trustees have agreed on a funding Page 21
DUNDROD CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31st December 2022 plan to ensure the scheme is sufficiently funded to meet the 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 beneflts for future service expenses, the cost of insuring death in service benefits, and funding the scheme deficit. The contrlbutions made by the congregatlon during the year were £3,940 13. RELATED PARTY TRANSACTIONS Rev. D Steele, a trustee, received remuneratlon of £16,422 and expenses of £3,590 as a minister of the con8regatlon. Pension contrlbutions of £3,940 were paid by the congregation in respect of the minister of the Presbyterian Church in Ire13nd Pension scheme {2009I. Page 22