Presbyter an MAGHERALLY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the year ended 31 December 2022 Note Unrestricted Funds Restricted Endowment Funds Funds Total 2022 Total 2021 Receipts Donations and legacies Charitable activities Other trading activities Investment Income Other 83,730 52,191 135,921 123,194 9,050 118 9,050 937 10,141 6,300 910 492 4,105 327 6,036 11.285 88,327 67,395 327 156,049 141,689 Sale of Investments Sale of fixed assets Loans Received Total Recelpts 88,327 67,395 327 156,049 141,689 Payments Raising funds Charitable activities Investment costs Other 772 68,708 772 118,058 735 110,461 49,350 492 27,193 27,685 18,219 69,972 76,543 146,515 129,415 Purchase of Investments Purchase of fixed assets Loan Repayments Total Payments 69,972 76,543 146,515 129,415 Net receipts / (payments) Transfers between funds 18,355 19, 148) 327 9,534 12,274 Net movement in funds Funds brought fonNard 18,355 167,122 (9,1481 91,750 327 23,393 9,534 282,265 12,274 269,991 Funds carried forward 11 185,477 82,602 23,720 291,799 282,265 12
an MAGHERALLY CONNGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF ASSETS AND LIABILITIES As at 31 December 2022 Unrestricted Funds Restricted Endowment Funds Funds Total Funds 2022 Total Funds 2021 Funds Reconciliation Bank and Cash at start of year Net movement in funds 167,122 18,355 91,750 19,1481 23,393 327 282,265 9,534 269,991 12,274 Bank and Cash at end of year 185,477 82,602 23,720 291,799 282,265 Bank & Cash Balances Bank Deposit Accounts Bank Current Accounts Cash in Hand 146,567 144,900 332 144,920 137,196 149 291,799 282,265 Other Assets Fixed Assets- Note 9 Church premises Sexton house Manse and farm Investments- Note 10 3,157,000 253,000 620,000 1,087 2,526,000 202,000 496,000 1,185 4,031,087 3,225,185 Llabilitie5 Loans Other Approved by the Kirk Session and signed on its behalf by: Rev Nigel Kane Minister Alexander Martin Clerk Of Session Date: 13 Date: 13
Presbyter an MAGHERALLY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2022 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 f irst 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 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. DONATIONS AND LEGACIES Unrestricted Funds Restrirted Funds Endowment Funds Total 2022 Total 2021 Recorded giving: Loose collections Donations and gifts Gift Aid Legacies and bequest 1,613 70,247 11.870 1,613 115,317 18,991 779 101,984 15,881 4,550 45,070 7,121 83,730 52,191 135,921 123,194 14
an MAGHERALLY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2022 OTHER TRADING ACTIVITIES Unrestricted Funds Restricted Endowment Funds Funds Total 2022 Total 2021 Letting of premises (Sexton house) Manse farm 7,150 7,150 4,500 1,900 1.900 1,800 9,050 9,050 6,300 4. INVESTMENT INCOME Unrestrirted Funds Restricted Endowment Funds Funds Total 2022 Total 2021 Deposit interest General Investment Fund 468 24 118 327 913 887 23 24 492 118 327 937 910 15
an MAGHERALLY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) 31 December 2022 OTHER INCOME Unrestricted Funds Restricted Funds Endowment Funds Total 2022 Total 2021 Jubilee books Heat & light contributions Katesbridge ministerial cont, Manse insurance proceeds NIE pole rental Sunday school Presbyterian women Midweek Youth club Bowling club 27 150 27 150 3,881 3,881 3,669 4,340 158 173 2,578 318 47 359 350 4,585 325 406 350 4,585 325 410 410 46 4,105 6,036 10,141 11,285 RAISING FUNDS Unrestricted Funds Restricted Endowment Funds Funds Total 2022 Total 2021 FWO envelopes Childrens Church envelopes 772 772 735 772 772 735 16
an MAGHERALLY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (convd) 31 December 2022 CHARITABLE AcfiviTIES Unrestricted Funds Restricted Endowment Funds Funds Total 2022 Total 2021 General Assembly Assessments Presbytery fees Ministry and support staff costs Congregational running expenses Donations to Missions and charities 7,730 626 7,730 626 48,238 28,772 32,692 7,918 404 47,984 20,796 33,359 48,238 11,814 300 16,958 32,392 68,708 49,350 118,058 110,461 OTHER EXPENDITURE Unrestricted Funds Restricted Funds Endowment Funds Total 2022 Total 2021 Manse repair Renovation expenditure cottage Manse farm Sunday school Presbyterian women Midweek Youth club Bowling club Manse cottage stipend CEF gift Piano purchase 4,260 8,346 1,800 285 2,990 14,828 1,900 968 3,841 200 14,828 1,900 968 3,841 200 227 227 300 60 4,579 34 300 300 60 4,579 Tenancy deposit scheme Gift aid transfers 650 650 132 132 204 492 27,193 27,685 18,219 17
an MAGHERALLY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (convd) 31 December 2022 FIXED ASSETS The congregation owns the Church premises (Church and hall) situated at Kilmacrew Road, Banbridge and the associated fixtures, fittings, plant and machinery. These premises have an insurance value of £3,157,000. The congregation owns the sextons house property at Kilmacrew Road, Banbridge. This property has an insurance value of £253,000. The congregation owns the manse farm at 37 Tullyheenan Road, Banbridge, comprising a dwelling house and approximately 14 acres of agricultural land. This property has an insurance value of £620,000. 10. INVESTMENTS The congregation has the following investments. Amounts are shown at market valuation. 2022 2021 General Investment Fund 1,087 1,185 1,087 1,050 18
an MAGHERALLY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (convd) 31 December 2022 11. FUND BALANCES Fund Balance at start Receipts Payment Surplus / Transfer (Deficit) Balance at end Unrestricted Funds General Fund 167,122 88,327 69,972 18,355 185,477 167,122 88,327 69,972 18,355 185,477 Restricted Funds Manse Farm Property/Building Fund Sunday School Presbyterian Women Midweek Youth Club Bowling Club Missions & Charity Fund 1,900 26,566 350 4,585 325 1,900 36,729 968 3,840 200 72,276 1,900 1,026 965 4,931 155 110,1631 1618) 745 125 62,113 1,282 1,771 1,090 4,938 338 410 227 183 10,497 33,252 32,679 573 11,070 91,750 67,395 76,543 {9,1481 82,602 Endowment Funds Endowments, Bequests, Donations and Gifts 23,393 327 327 23,720 23,393 327 327 23,720 Total 282,265 156,049 146,515 9,534 291,799 19
an MAGHERALLY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (convd) 31 December 2022 12. TRANSAcfioNS WITH THE TRUSTEES There we no transactions with the trustees in the year apart from salary and expenses payments made to Rev Nigel Kane. 13. GOVERANCE COSTS Governance costs of £1,500 were incurred during the year. This relates to fees paid to the Independent Examiner for the preceding year. This cost is included in congregational running expenses. 20