STATEMENT OF FINANCIAL ACTIVITY AS AT 3111212022 Unrestricted Restricted Endowment Funds Funds Funds Note 2022 2021 INCOME Congregational Funds 70,944 4,149 75,093 69,132 Missions & Charities 8,723 8,723 11,828 Property Maint + Repair Organisations 15,442 15,442 6,815 22,000 22,000 16,987 TOTAL RECEIPTS 117,109 4,149 121,258 104,762 EXPENDITURE Congregational Activities 56,947 4,594 61,541 65,154 Missions & Charities 7,670 7,670 6,695 Property Maint + Repair Organisations 24,297 24,297 27,578 11 12,483 12,483 15,176 101,397 4,594 105,991 114,603 Net Income I (Expendlture) BANK & CASH BALANCES INVESTMENTS 15,712 -445 15,267 -9,841 12 165,885 150,018 13 38,620 204,505 44,515 194,533 FIXED ASSETS 14 3,607,000 3,607,000 Approved by the Kirk Session at a meeting on lg- 1 9 ts l *)LS and signed on its behalf by: tSignature] tSignature] [Name] SRi QtxJ C9 Lv i DJ [Namel 7rqu? ek &14A [Dats] IZ-06-Z3 [Date] Page1 of4
NOTES TO THE ACCOUNTS 31 December 2022 Unrestricte Restrlcte Endowment d Funds d Funds Funds Note 2022 2021 2 CONGREGATIONAL FUNDS Donations 59,723 985 60,708 65.469 Gift Aid 9,491 3.164 12,655 12,431 Investment Income 1,730 1,730 1,553 Legacies and bequests 70,944 4,149 75,093 79,453 3 MISSIONS & CHARITIES Charitable Income 8,723 8,723 11,828 Fundraising events 442 8,723 8,723 12,270 4 PROPERTY MAINTENANCE & REPAIR Donations 15.442 15,442 6,815 15,442 15,442 6,815 6 ORGANISATION Donations 22,000 22,000 22,000 TOTAL INCOME 117,109 4,149 121,258 104,762 Page2of4
Unrestricte Restricte Endowment d Funds d Funds Funds Note 2022 2021 7 COSTS OF RAISING FUNDS General Assembly Assessments Ministry and support staff costs Cong. running expenses 6.296 6,296 6,196 44,031 44,031 46,035 9,482 9,482 11,837 Presbytery fees 628 628 395 FWO envelopes 719 719 691 61,156 61,156 65,154 8 COSTS OF CHARITABLE ACTIVITIES Donations to Missions + Charities 8,055 8,055 6,695 9 PROPERTY MAINT & REPAIR Building Repairs 24,297 24,297 27,578 11 ORGANISATION 12,483 12,483 15,176 TOTAL EXPENDITURE 105,991 105,991 114,603 Page 3 of4
NOTES TO THE ACCOUNTS 31 December 2022 NOTE BALANCE AT START BALANCE AT SURPLUS I END (DEFICIT) INCOME EXPENDITURE 12 Bank & Cash Balances Unrestricted Funds Freewill Offering Restricted Funds 20,429 70,944 62,417 28,956 8.527 Bequest Account Property Maint & Repair Missions and Charities Funds Other Restricted Congregation Funds 76.604 93 76,697 93 12.855 20,442 24,297 9,000 -3.855 4,654 8,748 7,670 5,732 1.078 13,500 4,594 4,594 13,500 Church Organisations 22,576 22,000 12,483 32,093 9,517 TOTAL 150,618 126.821 111,461 165,978 15,360 INVESTMENTS 2022 2021 13 Income Funds 38,620 2.004 42,580 1,935 Presbyterian General Investment Fund 42.646 44,515 INVESTMENT GAINS I Income bonds PCI Gen Inv Fund LOSSES -1,230 69 4,649 -1,161 4,649 FIXED ASSETS 2022 2021 14 The Congregation owns the Church premises situated on Downshire Road Newr 3,870,000 3,018,000 together with associated fixtures, fith'ngs and equipment 89,616 86,000 a Manse for the Minister situated at 1 Glen Mullan, Rathfriland Road Newry 620,162 488,000 together wth associated fixtures, fittings and equipment. 19,200 15,000 4,601,000 3,607,000 Page4of4
DOINNSHIRE ROAD PRESBYTERIAN CHURCH A Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS 31 December 2022 ACCOUNTING POUCIES (page l of 3) BASIS OF FINANCIAL STATEMENTS The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Prartice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Ireland (FR5102) (effettive 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 transattions, assets and liabilities for which the congregation is responsible in law, They do not include the account5 of church groups that owe their affiliation to another bodyi nor those that are informal gatherings of church members. FUNDACCOUNTING Endowment funds are funds, the capital of which must be retained either permanently or at the congregation'5 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. Restritted funds comprise (a) income from endowments which is to be expended only on the restritted 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 These are included in the Statement of Financial Activities (SOFA) when: the congregation becomes entitled to the resources. the trustees are virtually certain they will receive the resources. and the monetary value can be measured with sufficient reliably. 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. Grants and donations Grants and donations are only included in the SOFA when the congregation has unconditional entitlement to the resources. 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.
DOVVNSHIRE ROAD PRESB)YERIAN CHURCH A Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS 31 December 2022 ACCOUNTING POLICIES (page 2 of 3) Gifts in kind Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount realised. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable. Volunteer help The value of any voluntary help received is not included in the accounts but is described in the trustees, annual report. Investment income This is included in the accounts when receivable. 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 Liability recognitlon Liabilities are recognised as soon as there is a legal or constructive obligation committing the congregation to pay out resources. Governance costs These are shown within charitable attivities 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. 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. ASSErs 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 £2,500. They are valued at cost or, if gifted, at the value to the charity on receipt. Depreciation As there is no intention to sell any of these assets in the foreseeable future, depreciation is not calculated, rather their insured value is quoted. lrniestments Investments quoted on a recognised stock exchange are valued at market value at the year end.
DOVVNSHIRE ROAD PRESBERIAN CHURCH A Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS 31 December 2022 ACCOUNTING POLICIES (page 3 of 3) 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, 3 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 Scheme12009) 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 24Yo 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 contributions made by the congregation during the past two years were: . 2021 2022 Contributions £6,665 £6,257 RELATED PARTY TRANSAcfioNS One of the Trustees, the minister of the congregation, received remuneration of £26,074 and expenses of £5,053 for acting in that capacity. Pension contributions of £6,257 were paid by the congregation in respect of the minister to the Presbyterian Church in Ireland Pension Scheme (20091. None of the other trustees received any remuneration or expenses. During the year the congregation contributed the following amounts to Funds of the General Assembly of the Presbyterian Church in Ireland - a separate charity. £6,296 for congregational assessments £5,796 towards the United Appeal £20554 toward the World Development Appeal The congregation contributed £628 towards Presbytery Assessments during the year. There were no other related party transattions.
DOWNSHIRE ROAD 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 advanment 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 reSoUrS 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 Serrfls 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 because of their holding Offi or employment. However, this is incidental and necessary to fvrther 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 Commissions public benefit requirement statutory guidance.
DOIJVNSHIRE ROAD PRESBYTERIAN CHURCH A Congregation of The Presbyterian Church in Ireland TRUSTEES ANNUAL REPORT (cont'd) FINANCIAL REVIEW The congregation's main source of income are members, contributions through the Weekly Freewill Offering together with Gift Aid claimed on those donations authorised by the contributors and investment income. There were 144 contributors during the year 2022 (136 in previous year, 2021) and a total of £59,490 was reiVed (£57,928 in previous year 20121. Total Income of the congregation during the year was £121,258, compared to £104,710 in the previous year. The main reason for the change was the increase of income and fund raising due to lifting the restrictions on meetings and events caused by Covid 19 Total expenditure was £105,991 compared to £114,603 in 2021. RESPONSIBILITIES IN RESPECT OF THE FINANCIAL STATEMENTS The Trustees are responsible for preparing the Annual Report and the financial statements in accordan 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 congregations and the financial activities for that year. In preparing the financial statements the Trustees are required to: 1. Select suitable accounting policies and then apply them consistently. 2. Make judgements and estimates that are reasonable and prudent. 3. Prepare the financial statements on the going concem 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 congregations and enable them to ensure that the financial statements comply with the Statement of Recommended Practi 'Accounting and Reporting by Charities (1 January 2015). They are also responsible for safeguarding the assets of the congregation and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities.