an LOUGHAGHERY CONGREGATION OFTHE PREs8ERlAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the year ended 31 December 2023 Note Unrestricted Restricted Funds Funds Endowment Funds Total 2023 Total 2022 Receipts Donations and legacies Charitable activities Other trading activities Investment Income Other 73,853 650 500 224 1768 24,623 9,719 98,476 10,369 500 371 1768 94,162 7,482 400 346 493 147 Sale of Investments Sale of fixed assets Loans Received Total Recelpts 76,995 34,489 111,484 102,883 Payments Raising funds Charitable activities 381 73,522 381 118,677 401 98,569 45,155 Investment costs Other Purchase of Investments Purchase of fixed assets Loan Repayments Total Payments 73,903 45,155 119,058 98,970 Net receipts / (payments) Transfers between funds 3,092 {10,666) (7,574} 3,918 Net movement in funds Funds brought forward 3,092 49,740 (10,666) 102,924 {7,574) 182,006 3918 178,088 29,342 Funds carried forward 12 52,832 92,258 29,342 174,432 182,006 12
an LOUGHAGHERY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF ASSEfs AND LIABILITIES As at 31 December 2023 Unrestricted Funds Restricted Funds Endowment Total Funds Total Funds Funds 2023 2022 Funds Reconciliation Bank and Cash at start of year Net movement in funds 49,740 3,092 102,924 {10,666) 29,342 182,006 (7,574) 178,088 3,918 Bank and Cash at end of year 52,832 92,258 29,342 174,432 182,006 Bank & Cash Balances Bank Deposit Accounts Bank Current Accounts Cash in Hand 13,390 118,488 13,824 125,629 131,878 139,453 Other Assets Fixed Assets- Note 10 Church & Hall Premises (Buildings & Contents). Fixtures (Church Organ) Stores & Contents ** 5.5 acres agricultura I land Investments- Note 11 Gift Aid receivable on donations (Restricted £3,355) 'IUnrestricted £9,099) ** 55,000 42,554 12,454 55,000 42,554 11,397 (Apr to Decl 110,008 108,951 'Insurance Valuations removed from Fixed Assets. £3,045,590 at 31110/2023 Liabilities Loans Other 241,886 248,404 Approved by the Committee & Kirk Session on ,- OJ. O 90%¥ and signed on its behalf by [Namel [Name] [Datel %tr lits 13
an LOUGHAGHERY 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 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 dependin8 upon the purpose for which the endowment was established in the first place. Restricted funds comprise (a) income from endowments which is to be expended only on the restricted 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. DONATIONS AND LEGACIES Unrestricted Funds Restricted Endowment Funds Funds Total 2023 Total 2022 Recorded giving: Loose collections Donations and gifts Gift Aid Legacies and bequest 59,559 533 3619 10,142 19,582 79,141 533 4,654 14, 148 77,020 472 1,840 14,830 1,035 4,006 73,853 24,623 98,476 94,162 14
an LOUGHAGHERY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2023 CHARITABLE ACTIVITIES Unrestricted Funds Re5trirted Funds Endowment Funds Total 2023 Total 2022 Income from charitable activities Fees from weddings and funerals Fundraising events Membership fees Grants 3,007 3,007 650 2,179 2,133 2,400 1,758 300 1,264 2,410 1,750 650 2,179 2,133 2,400 650 9,719 10,369 7,482 4. OTHER TRADING AcfiviTIES Unrestricted Funds Restricted Endowment Funds Funds Total 2023 Total 2022 Letting of premises Field Rental Trading income 500 500 400 500 500 400 INVESTMENT INCOME Unrestricted Funds Restricted Funds Endowment Funds Total 2023 Total 2022 Deposit interest General Investment Fund Rents investment properties Other investment income 133 69 202 135 91 78 169 211 224 147 371 346 15
an LOUGHAGHERY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS {cont'd) 31 December 2023 OTHER INCOME Unrestricted Funds Restricted Endowment Funds Funds Total 2023 Total 2022 Insurance claims Other income- Wayleaves etc. 1,768 1,768 493 1,768 1,768 493 RAISING FUNDS Unrestricted Funds Restricted Endowment Funds Funds Total 2023 Total 2022 FWO envelopes Fundraisin8 events 381 381 401 381 381 401 CHARITABLE A1VITIEs Unrestricted Funds Restricted Endowment Funds Funds Total 2023 Total 2022 General Assembly Assessments Presbytery fees Ministry and support staff costs Congregational running expenses Donations to Missions and charities Governance costs 13,695 784 39,344 18,614 13,695 784 39,344 50,390 13,379 1,085 13,295 756 38,461 31,119 13,887 1,051 31,776 13,379 1,085 73,522 45,155 118,677 98,569 16
an LOUGHAGHERY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) 31 December 2023 OTHER EXPENDITURE Unrestricted Funds Restricted Endowment Funds Funds Total 2023 Total 2022 Investment properties expenses PMS balance written off 10. FIXED ASSETS The congregation owns 5.5 acres (two fields) of agricultural grazing land that is adjacent to the Church premises and this is currently let to a neighbouring farmer. This has been valued at £55,000 by Fred Dalzell & Partners. The congregation owns the Church premises situated at Cargygray Road, Hillsborough, BT266BL, along with the associated fixtures, fittings, plant and machinery. These have an Insurance value of £2,833,107 (31/10/2023). INVESTMENTS The congregation has the following investments. Amounts are shown at market valuation. 2023 2022 General Investment Fund Property Other investments - Progressive BS Other investments - 42,554 42,554 42,554 42,554 17
an LOUGHAGHERY CONGREGATION OF THE PRESBERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) 31 December 2023 11. FUND BALANCES Fund Balance at Recelpts Payment start Surplus / Transfer Balance at (Deficit) end Unrestricted Funds General Account 49,740 76,995 73,903 3,092 52,832 49,740 76,995 73,903 3,092 52,832 Restricted Funds Repair Fund Manse Account PCI Appeals/Missions 65,409 14,334 803 12,782 53 10,067 24,949 32 10,770 {12,167) 21 1703) 53,242 14,355 100 Magazines Sunday School Choir Account Badminton Club Bowling Club Boys Brigade Girls Brigade Ladies Fellowship Ladies Fellowship Webb Ivory Junior C E Youth Fellowship 5,600 1,602 1,527 4,056 1,395 625 260 6,807 406 100 1,957 2,053 166 444 665 2,242 2,810 1,025 {96) (160) (128) 354 1,371 809 5,504 1,442 1,399 4,410 2,766 1,434 267 6,831 408 100 316 1,019 3,613 3,619 1,032 24 24 102,924 34,490 45,156 (10,666) 92,258 Endowment Funds Progressive BS(exc. Manse) **lnterest included above. 29,342 29,342 29,342 29,342 Total 182,006 111,485 119,059 17,574) 174,432 18
an LOUGHAGHERY CONGREGATION OF THE PRESBERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (convd) 31 December 2023 * *lnterest of £147from Progressive Building Society Investments has been included in the relevantfunds above rather than shown as transfers. 19