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