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