an MAGHERALLY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL AcfiviTY (Receipts and Payments Account) for the year ended 31 December 2023 Note Unrestrlcted Funds Restricted Endowment Funds Funds Total 2023 Total 2022 Recelpts Donations and legacies Charitable activities Other trading activities Investment Income Other 82,107 36,272 118,379 135,921 9,700 298 7,274 9,700 3,024 12,664 9,050 937 10,141 1,895 5,390 831 89,392 53,544 831 143,767 156,049 Sale of Investments Sale of fixed assets Loans Received Total Recelpts 89,392 53,544 831 143,767 156,049 Payments Raising funds Charitable activities Investment costs Other 743 78,741 743 100,397 772 118,058 21,656 1,797 10,417 12,214 27,685 81,281 32,073 113,354 146,515 Purchase of Investments Purchase of fixed assets Loan Repayments Total Payments 81,281 32,073 113,354 146,515 Net receipts / {payments) Transfers between funds 8,111 21,471 831 30,413 9,534 Net movement in funds Funds brought forward 8,111 185,473 21,471 82,604 831 23,720 30,413 291,797 9,534 282,265 Funds carried forward 11 193,584 104,075 24,551 322,210 291,799 12
Presbyter an MAGHERALLY CONNGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF ASSETS AND LIABILITIES As at 31 December 2023 Unrestrlcted Funds Restricted Endowment Funds Funds Total Funds 2023 Total Funds 2022 Funds Reconclliatlon Bank and Cash at start of year Net movement in funds 185,473 8,111 82,604 21,471 23,720 831 291,797 30,413 282,265 9,534 Bank and Cash at end of year 193,584 104,075 24,551 322,210 291,799 Bank & Cash Balances Bank Deposlt Accounts Bank Current Accounts Cash in Hand 198,119 123,551 540 146,567 144,900 332 322,210 291,799 Other Assets Fixed Assets- Note 9 Church premises Sexton house Manse and farm Investments- Note 10 3,352,627 268,779 658,244 1,186 3,157,000 253,000 620,000 1,087 4,280,836 4,031,087 Uablllties Loans Other Approved by the Kirk Session and signed on its behalf by: el Kane Mlnlster Alexander Martin Clerk Of Sesslon Date: 13 June 2024 Date: 13 June 2024 13
an MAGHERALLY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2023 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 Charitie5 (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 (al income from endowments which is to be expended only on the restricted purposes intended by the donor and (bl 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 Restricted Endowment Funds Funds Total 2023 Total 2022 Recorded giving: Loose collection5 Donations and gifts Gift Aid Legacies and bequest 2,227 71,490 8,390 2,227 102,020 14,132 1,613 115,317 18,991 30,530 5,742 82,107 36,272 118.379 135,921 14
an MAGHERALLY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2023 3. OTHER TRADING ACTIVITIES Unrestrlrted Funds Restrlcted Endowment Funds Funds Total 2023 Total 2022 Lettin8 of premises (Sexton house) Manse farm 7,800 7,800 7,150 1,900 1,900 1,900 9,700 9,700 9,050 4. INVESTMENT INCOME Unrestrlcted Funds Restrlcted Endowment Funds Funds Total 2023 Total 2022 Deposit interest General Investment Fund 1,872 23 298 831 3,001 23 913 24 1,895 298 831 3,024 937 15
an MAGHERALLY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTE5 TO THE ACCOUNTS (cont'd) 31 December 2023 OTHER INCOME Unrestrlcted Funds Restrlcted Endowment Funds Funds Total 2023 Total 2022 Jubilee books Heat & light contributions Bowling Club Katesbridge ministerial cont, Manse insurance proceeds NIE pole rental Sunday school Presbyterian women Midweek Youth club 27 150 385 385 4,100 4,100 3,881 257 474 6.102 257 474 6,102 406 350 4,585 325 56 56 22 495 53 600 loo 20 410 Rates Overpayrnent Big Breakfast Booklets at Mission Energy Support Payment PHO Complalnt Holiday Bible Club 22 49S 53 600 100 20 5,390 7,274 12,664 10,141 RAISING FUNDS Unrestricted Funds Re5trlcted Endowment Funds Funds Totsi 2023 Total 2022 FWO envelopes Childrens Church envelopes 743 743 772 772 772 772 16
an MAGHERALLY CONGREGATION OF THE PRES8YfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNT5 {conVd) 31 December 2023 CHARITABLE ACTIVITIES Unrestrlrted Funds Restrlcted Endowment Funds Funds Total 2023 Total 2022 General Assembly Assessments Presbytery fees Ministry and support staff costs Congregational runnin8 expenses Donations to Missions and charities 7,376 877 53,640 16,848 7,376 877 53,640 27,883 10,621 7,730 626 48,238 28,772 32,692 11,035 10,621 78,741 21,656 100.397 118,058 OTHER EXPENDITURE Unrestrlcted Funds Restricted Endowment Funds Funds Total 2023 Total 2022 Manse repair Renovation expendlture cottage Manse farm Sunday school Presbyterian women Midweek Youth club Bowling club Manse cottage stSpend CEF gift Piano purchase Tenancy deposit scheme Gift aid transfers RB Catering Big Breakfast Social Expenses Photocopier Maintenance 2,906 2,906 14,828 1,900 968 3,841 200 1,900 503 4,931 1,900 503 4,931 227 300 60 4,579 177 177 300 300 650 132 950 350 197 950 350 197 1,7YI 10,411 12,Z14 27,585 17
an MAGHERALLY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTESTO THE ACCOUNTS (convd) 31 December 2023 FIXED ASSETS The congregation owns the Church premises (Church and hall) situated at Kilmacrew Road, Banbridge and the associated fixtures, fittin8s, plant and machinery. These premlses have an insurance value of £3,352,627. The congregation owns the sextons house property at Kilmacrew Road, Banbrldge. This property has an insurance value of £268,779. The congregation owns the manse farm at 37 Tullyheenan Road, Banbrldge, comprislng a dwelling house and approximately 14 acres of agricultural land. This property has an insurance value of £658,244. 10. INVESTMENTS The congregation has the following investments, Amounts are shown at market valuation. 2023 2022 General Investment Fund 1,186 1,087 1,087 1,087 18
an MAGHERALLY CONGREGATION OF THE PRES8YfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (convd) 31 December 2023 11. FUND BALANCES Fund Balance at start Recelpts Payment Surplu51 Transfer (Deflclt) Balance at end Unrestrlcted Funds General Fund 185,473 89,392 81,281 8,111 193,584 185,473 89,392 81,281 8,111 193,584 Restrlrted Funds Manse Farm Property/8uildlng Fund Sunday School Presbyterian Women Midweek / Missions Youth Club Bowling Club Missions, Charity and Midweek Fund 1,900 18,857 593 6,303 1,900 13,941 503 62,115 1,282 1,771 1,090 4,938 338 4,916 90 1,372 67,031 1,372 3,143 4,931 -1,090 56 385 56 208 4,994 546 177 11,070 25,450 10,621 14,829 1,090 26,989 82,604 53,544 32,073 21,471 104,075 Endowment Funds Endowments, Bequests, Donations and Gifts 23,720 831 831 24,551 23,720 831 831 24,551 Total 291.797 143,767 113,354 30,413 322,210 19
an MAGHERALLY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (convdl 31 December 2023 12. TRANSACTIONS 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