LOUGHBRICKLAND CONGREGATION
OF THE PRESBYTERIAN CHURCH IN IRELAND
Trustees Annual Report and Financial Statements for the year ended 31 December 2023
Registered Charity in Northern Ireland (NIC105067)
1
LOUGHBRICKLAND CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the year ended 31 December 2023
| Note | Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|---|
| Funds | Funds | Funds | 2023 | 2022 | ||
| £ | £ | £ | £ | £ | ||
| Receipts | ||||||
| Donations and legacies | 2 | 25,208 | 18,032 | 0 | 43,240 | 39,657 |
| Charitable activities | 3 | 47,830 | 52,843 | 0 | 100,673 | 106,262 |
| Other trading activities | 4 | 26 | 7,280 | 0 | 7,306 | 6,924 |
| Investment Income | 5 | 0 | 0 | 0 | 0 | 0 |
| Other | 6 | 0 | 0 | 0 | 0 | 0 |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| 73,064 | 78,155 | 0 | 151,219 | 152,843 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Investment Gain | 0 | 0 | 10,414 | 10,414 | (10,306) | |
| Sale of fixed assets | 0 | 0 | 0 | 0 | 0 | |
| Loans Received | 0 | 0 | 0 | 0 | 50,000 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Total Receipts | 73,064 | 78,155 | 10,414 | 161,633 | 192,537 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Payments | ||||||
| Raising funds | 7 | 0 | 0 | 0 | 0 | 0 |
| Charitable activities | 8 | 54,213 | 64,814 | 0 | 119,027 | 156,860 |
| Investment costs | 0 | 0 | 0 | 0 | 0 | |
| Other | 9 | 0 | 0 | 0 | 0 | 0 |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| 54,213 | 64,814 | 0 | 119,027 | 156,860 | ||
| Purchase of Investments | 0 | 0 | 0 | 0 | 0 | |
| Purchase of fixed assets | 0 | 0 | 0 | 0 | 0 | |
| Loan Repayments | 0 | 9,788 | 0 | 9,788 | 21,891 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Total Payments | 54,213 | 74,602 | 0 | 128,815 | 178,751 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Net receipts / (payments) | 18,851 | 3,553 | 10,414 | 32,818 | 13,786 | |
| Transfers between funds | (3,968) | 3,968 | 0 | 0 | 0 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Net movement in funds | 14,883 | 7,521 | 10,414 | 32,818 | 13,786 | |
| Funds brought forward | 36,208 | 84,666 | 115,072 | 235,946 | 222,160 | |
| ---------- | --------- | ---------- | ---------- | ---------- | ||
| Funds carried forward | 12 | 51,091 | 92,187 | 125,486 | 268,764 | 235,946 |
| ====== | ====== | ====== | ====== | ====== |
2
LOUGHBRICKLAND CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF ASSETS AND LIABILITIES
| Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| Funds Reconciliation | |||||
| Bank and Cash at start of year | 36,208 | 84,666 | 115,072 | 235,946 | 222,160 |
| Net movement in funds | 14,883 | 7,521 | 10,414 | 32,818 | 13,786 |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| Bank and Cash at end of year | 51,091 | 92,187 | 125,486 | 268,764 | 235,946 |
| ======- | ======= | ======= | ======= | ======= | |
| Other Assets/Liabilities | |||||
| Fixed Assets – Note 10 | |||||
| - Church Premises & Contents | 1,235,422 | 1,149,277 | |||
| - Church Halls Premises & | 1,461,935 | 1,359,940 | |||
| Contents | |||||
| - Manse Premises | 435,672 | 405,277 | |||
| - Caretakers Premises | 230,808 | 214,705 | |||
| Investments – Note 11 | 0 | 0 | |||
| ======= | ======= |
Approved by the Kirk Session on 26[th] March 2024 and signed on its behalf by
Fred Cairns 26[th] March 2024
Trevor Martin 26[th] March 2024
3
LOUGHBRICKLAND CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2023
1. 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 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.
2. DONATIONS AND LEGACIES
| Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| Loose collections | 1,481 | 928 | 0 | 2,409 | 939 |
| Donations and gifts | 12,170 | 10,990 | 0 | 23,160 | 18,232 |
| Gift Aid | 9,661 | 5,581 | 0 | 15,242 | 17,944 |
| Legacies and bequest | 1,896 | 533 | 0 | 2,429 | 2,542 |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 25,208 | 18,032 | 0 | 43,240 | 39,657 | |
| ---------- | ---------- | ---------- | ---------- | ---------- |
4
LOUGHBRICKLAND CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS
31 December 2023
3. CHARITABLE ACTIVITIES
| Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| Income from charitable activities | 47,182 | 25,367 | 0 | 72,549 | 82,085 |
| Weddings and funerals | 0 | 1,094 | 0 | 1,094 | 1,650 |
| Fundraising events | 0 | 9,008 | 0 | 9,008 | 300 |
| Membership fees | 0 | 6,071 | 0 | 6,071 | 4,746 |
| Graveyard Registration | 0 | 2,196 | 0 | 2,196 | 12,756 |
| Grants | 0 | 3,600 | 0 | 3,600 | 4,200 |
| Church Magazines | 648 | 0 | 0 | 648 | 525 |
| Events & Outings | 0 | 5,507 | 0 | 5,507 | 0 |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 47,830 | 52,843 | 0 | 100,673 | 106,262 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 4. OTHER TRADING ACTIVITIES | |||||
| Unrestricted | Restricted | Endowment | Total | Total | |
| Funds | Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| Letting of premises | 26 | 7,280 | 0 | 7,306 | 24 |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 26 | 7,280 | 0 | 7,306 | 24 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 5. INVESTMENT INCOME | |||||
| Unrestricted | Restricted | Endowment | Total | Total | |
| Funds | Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| Deposit interest | 0 | 0 | 0 | 0 | 0 |
| General Investment Fund | 0 | 0 | 0 | 0 | 0 |
| Other investment income | 0 | 0 | 0 | 0 | 0 |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 0 | 0 | 0 | 0 | 0 | |
| ---------- | ---------- | ---------- | ---------- | ---------- |
5
LOUGHBRICKLAND CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d)
31 December 2023
6. OTHER INCOME
| Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| Loan – Ulster Bank | 0 | 0 | 0 | 0 | 0 |
| Other income – Miscellaneous | 0 | 0 | 0 | 0 | 0 |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 0 | 0 | 0 | 0 | 0 | |
| ---------- | ---------- | ---------- | ---------- | ---------- |
7. RAISING FUNDS
| Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| Fundraising events | 0 | 0 | 0 | 0 | 0 |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 0 | 0 | 0 | 0 | 0 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| . CHARITABLE ACTIVITIES |
|||||
| Unrestricted | Restricted | Endowment | Total | Total | |
| Funds | Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| General Assembly Assessments | 7,891 | 0 | 0 | 7,891 | 9,241 |
| Presbytery fees | 501 | 0 | 0 | 501 | 358 |
| Ministry and support staff costs | 30,676 | 3,198 | 0 | 33,874 | 35,181 |
| Congregational running expenses | 14,460 | 41,497 | 0 | 55,957 | 38,386 |
| Donations to Missions and charities | 685 | 11,349 | 0 | 12,034 | 13,307 |
| Building Repairs | 0 | 8,770 | 0 | 8,770 | 60,387 |
| Bequest Interest | 0 | 0 | 0 | 0 | 0 |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 54,213 | 64,814 | 0 | 119,027 | 156,860 | |
| ---------- | ---------- | ---------- | ---------- | ---------- |
8. CHARITABLE ACTIVITIES
6
9. OTHER EXPENDITURE
| Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| Investment properties expenses | 0 | 0 | 0 | 0 | 0 |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 0 | 0 | 0 | 0 | 0 | |
| ---------- | ---------- | ---------- | ---------- | ---------- |
10. FIXED ASSETS
The congregation owns the Church, two Halls and Caretakers Home premises situated at Ballynanny Road, Loughbrickland, the associated fixtures, fittings, plant and machinery. These are stated at insurance value at renewal dates.
11. INVESTMENTS
The congregation has the following investments. Amounts are shown at market valuation.
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| General Investment Fund | 125,486 | 115,072 |
| Property | 0 | 0 |
| Other investments | 0 | 0 |
| ---------- | ---------- | |
| 125,486 | 115,072 | |
| ---------- | ---------- |
12. FUND BALANCES
| Fund | Balance | Receipts/ | Payment | Surplus / | Transfer | Balance |
|---|---|---|---|---|---|---|
| at start | Gain | (Deficit) | at end | |||
| £ | £ | £ | £ | £ | £ | |
| Unrestricted Funds | ||||||
| General Fund | 36,208 | 73,064 | 54,213 | 18,851 | (3,968) | 51,091 |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| 36,208 | 73,064 | 54,213 | 18,851 | (3,968) | 51,091 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- |
7
| Restricted Funds | ||||||
|---|---|---|---|---|---|---|
| Property Fund | 17,906 | 40,297 | 35,277 | 5,020 | 22,926 | |
| Manse Fund | 14,275 | 1,356 | 0 | 1,356 | 1,500 | 17,131 |
| Hall Fund | 25,235 | 1,057 | 6,440 | (5,383) | 19,852 | |
| Necessitous Members | 2,154 | 140 | 0 | 140 | 2,294 | |
| United Appeal | 0 | 4,335 | 5,300 | (965) | 965 | 0 |
| Mission & Charities | 0 |
5,356 | 6,050 |
(694) | 694 | 0 |
| Badminton Club | 2,301 | 1,360 | 870 | 490 | 2,791 | |
| Bowling Club | 1,825 | 858 | 749 | 109 | 1,934 | |
| Boys Brigade | 4,329 | 5,069 | 4,265 | 804 | 5,133 | |
| Catering | 5,732 | 1,094 | 768 | 326 | 6,058 | |
| Fundraising | 4,931 | 2,725 | 2,563 | 162 | 5,093 | |
| Girls Brigade | 3,904 | 14,053 | 11,071 | 2,982 | 6,886 | |
| Presbyterian Women | 900 | 455 | 442 | 13 | 913 | |
| Sunday School | 511 | 0 | 807 | (807) | 809 | 513 |
| Youth Club | 663 |
0 |
0 | 0 | 663 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| 84,666 | 78,155 | 74,602 | 3,553 | 3,968 | 92,187 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| Endowment Funds | 115,072 | 10,414 | 0 | 125,486 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- |
13. LOAN BALANCE
| Balance | Interest | Payment | Balance | |
|---|---|---|---|---|
| at start | at end | |||
| £ | £ | £ | £ | |
| Bank Loan | (50,000) | (4,136) | 9,788 | (44,348) |
| ---------- | ---------- | ---------- | ---------- | |
| (50,000) | (4,136) | 9,788 | (44,348) | |
| ---------- | ---------- | ---------- | ---------- |
8