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2020-12-31-accounts

Second Presbyterian Church Islandmagee A congregation of the Presbyterian Church in Ireland

Trustees Annual Report and Financial Statements For the year ended 31 December 2020

Registered with the Charity Commission for Northern Ireland NIC 105075

1

TRUSTEES ANNUAL REPORT

The Trustees present their Annual Report and Financial Statements for the year ended 31 December 2019 including a Balance Sheet as at that date.

REFERENCE AND ADMINISTRATIVE DETAILS

Second Islandmagee congregation of the Presbyterian Church in Ireland

Lunnon Road, Islandmagee. BT40 3TH

Registered charity in Northern Ireland (NIC 105075).

CHARITY TRUSTEES

The Charity Trustees who served during the year or who were trustees at the date of this report were:

Rev. P. Bovill Mr. J. Smith Mr. C. Smith Mrs. M. Crawford Mr. S. Hawthorne Mrs. I. Crawford Mr. P. Crawford Mrs P. Ford Mr. J. Ross

PRINCIPAL OFFICE BEARERS Minister Rev. P. Bovill Clerk of Session Mr. J. Smith Secretary Mrs. I. Crawford Treasurer Mr. C. Smith

INDEPENDENT EXAMINER

Ian Johnston 12 Gobbins Road Islandmagee BT40 3SR

BANKERS

Danske Bank 19 Main St, Larne BT40 1JX

Ulster Bank 9 Upper Cross St Larne BT40 1SZ

2

TRUSTEES ANNUAL REPORT (cont’d)

FINANCIAL REVIEW

The congregation’s main source of income is members’ contributions through the Weekly Freewill Offering. There were 92 contributors during the year (113 in previous year, 2019) donating a total of £22,350 (£29,836.10 in previous year, 2019).

Total income of the congregation during the year was £47,921.21 compared to £51,834.75 in the previous year

There was a decrease in expenditure of £23,217.33 year on year. £36,437.67 in 2020 compared with £59,655 in 2019.

Approved by the Kirk Session at a meeting on 6[th] June 2021

signed on its behalf by

Rev P Bovill

Mr C Smith

Date: 6[th] June 2021

Date: 6[th] June 2021

INDEPENDENT EXAMINER

Ian Johnston CF

Date: 31[st] May 2021

3

SECOND PRESBYTERIAN CHURCH ISLANDMAGEE- A Congregation of The Presbyterian Church in Ireland STATEMENT OF FINANCIAL ACTIVITY For the year ended 31 December 2020

Notes
Receipts
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Investments
5
Other
6
Organisations
Total
Sale of Investments
Sale of Fixed Assets
Loans Received
Total
Total Receipts
Payments
Raising funds
7
Charitable activities
8
Other
9
Organisations
Total
Purchase of Investments
Purchase of Fixed Assets
Loans Repayments
Total
Total Payments
Net Receipts / (Payments)
Net Transfers between
Funds
Net movement in funds
Total funds brought
forward
Total funds carried forward
10		 Unrestricted
Funds
£
40,093
0
0
1,205
0
0
_
41,298
0
0
0
_
0
_
41,298
_
462
24,830
0
0
_
25,292
_
0
0
0
_
0
_
25,292
_
16,006
0
16,006
-790
_
15,215
_		 Restricted
Funds
£
5,542
180
901.75
0
0
_
6,624
0
0
0
_
0
_
6,624
_
0
11,146
0
0
_
11,146
_
0
0
0
_
0
_
11,146
_
-4,522
0
-4,522
49,108
_
44,586
_		 Endowmen t
Funds
£
0
0
0
0
0
0
_
0
0
0
0
_
0
_
0
_
0
0
0
0
_
0
_
0
0
0
_
0
_
0
_
0
0
0
0
_
0
_		 Total Funds
2020
£
45,634
180
901.75
1,205
0
0
_
47,921
0
0
0
_
0
_
47,921
_
462
35,976
0
0
_
36,438
_
0
0
0
_
0
_
36,438
_
11,484
0
11,484
48,318
_
59,801
_		 Total Funds
2019
£
45,303
1,172
2,484
1,750
144
982
_
51,835
0
0
0
_
0
_
51,835
_
463.5
58,284
0
907.5
_
59,655
_
0
0
0
_
0
_
59,655
_
-7,821
0
-7,821
56,139
_
48,318
_

4

Notes
Unrestricted Funds
Restricted Funds
Endowment Funds
£
£
£
Funds Reconciliation
Bank and Cash at start of
year
-790
49,108
0
Net Movement in funds
16,006
-4,522
0
_ _
_______
Bank and Cash at end of
year
11
15215.42
44585.74
0
_ _
_______
Bank and Cash Balances
Bank Deposit Accounts
Bank Current Accounts
Cash in Hand
Other Assets
Fixed Assests
12
Church Premises
Fixtures, Fittings &
Equipment
Vehicles
Investments
13
Gift Aid receivable on
donations
Liabilities
Loans
14
Other		 Total Funds 2020
£
48,318
11,484
_
59,801
_______
40,000
19,801
0
_
59,801
_
81,631
0
_
70000
_
0
0
_
0
_		 Total Funds 2019
£
56,139
-7,821
_
48,318
_
40,000
8,318
0
_
48,318
_
70,000
0
_
70000
_
0
0
_
0
_

5

SECOND PRESBYTERIAN CHURCH ISLANDMAGEE

A Congregation of The Presbyterian Church in Ireland

NOTES TO THE ACCOUNTS 31 December 2020

1. ACCOUNTING POLICIES

BASIS OF FINANCIAL STATEMENTS

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Ireland (FRS102) (effective 1 January 2015).

The financial statements have been prepared under the historical cost convention except for investment assets, which are shown at market value. The financial statements include all transactions, assets and liabilities for which the congregation is responsible in law. They do not include the accounts of church groups that owe their affiliation to another body, nor those that are informal gatherings of church members.

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 SECOND 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.

6

SECOND PRESBYTERIAN CHURCH ISLANDMAGEE A Congregation of The Presbyterian Church in Ireland

NOTES TO THE ACCOUNTS 31 December 2020

2. DONATIONS AND LEGACIES

Donations & Legacies
F.W.O
F.W.O Tax Refund
Cash
Harvest
Harvest Tax Refund
Youth Worker Donations
Youth Worker Gift
Youth Worker Tax Refund
Bequests
Donations for Maintenance
Maintenance Tax Refund
United Appeal Envelopes
United Appeal Tax Refund
Part Harvest
Part Harvest Tax Refund
Gift to United Appeal
Moderator's Appeal
Moderator's Appeal Tax Refund
Student Bursary
Student BursaryTax Refund
World Development
World Development Tax
Refund
Presbyterian Children
Presbyterian Children Tax
Refund
Christian Aid
Kingdom Kids
RNLI		 Unrestricted Funds
£
22350
4,727
124
160
0
480
0
125
12,127
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
_
40,093
_		 Restricted Funds
£
0
0
0
0
0
0
0
0
0
0
1,955
435
0
0
1,980
225
56
0
0
0
0
130
33
725
3
0
_
5,542
_		 Endowment Funds
£
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
_
0
_		 Total Funds 2020
£
22350
4727
123.55
160
0
480
0
125
12127.1
0
1955
435
0
0
1980
225
56.25
0
0
0
0
130
32.5
725
3
0
_
45,634
_		 Total Funds 2019
£
£29,836
£5,217
£1,071
£114
£30
£830
£200
£208
£0
£520
£130
£2,910
£531
£176
£30
£875
£1,412
£99
£211
£50
£335
£69
£107
£22
£0
£55
£266
_
£45,303
_

7

SECOND PRESBYTERIAN CHURCH ISLANDMAGEE A Congregation of The Presbyterian Church in Ireland

NOTES TO THE ACCOUNTS 31 December 2020

3. CHARITABLE ACTIVITIES

Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2020 Total Funds 2019
£ £ £ £ £
Income from charitable
activities
Christmas Fair 0 0 0 0 992.00
Christian Literature 0 180 0 180 180
_ _ _ _ _
0 180 0 180 1172

8

SECOND PRESBYTERIAN CHURCH ISLANDMAGEE A Congregation of The Presbyterian Church in Ireland

NOTES TO THE ACCOUNTS 31 December 2020

4. OTHER TRADING ACTIVITIES

Trading
Activities
Hire of Church
Hall
Trading income		 Unrestricted Funds
£
0
0
_
0
_		 Restricted Funds
£
901.75
0
_
901.75
_		 Endowment Funds
£
0
0
_
0
_		 Total Funds 2020
£
901.75
0
_
901.75
_		 Total Funds 2019
£
2,484
0
_
2483.5
_

5. INVESTMENT INCOME

Investment Income
Bank Interest
NFU Mutual		 Unrestricted Funds
£
11.41
1193.65
0
_
1,205
_		 Restricted Funds
£
0
0
0
_
0
_		 Endowment Funds
£
0
0
0
_
0
_		 Total Funds 2020
£
11.41
1193.65
0
_
1,205
_		 Total Funds 2019
£
£4.91
1745.47
0
_
1,750.38
_

9

SECOND PRESBYTERIAN CHURCH ISLANDMAGEE

A Congregation of The Presbyterian Church in Ireland

NOTES TO THE ACCOUNTS 31 December 2020

6. OTHER INCOME

Other
income
Pulpit
Supply		 Unrestricted Funds
£
0
_
0
_		 Restricted Funds
£
0
_
0
_		 Endowment Funds
£
0
_
0
_		 Total Funds 2020
£
0
_
0
_		 Total Funds 2019
£
144
_
144
_

7. RAISING FUNDS

----- Start of picture text -----
Raising
£ £ £ £ £
Funds
Printing
462 0 0 462 463.5
Envelopes
_ _ _ _ _
462 0 0 462 463.5
_ _ _ _ _
Restricted Funds Total Funds 2020 Total Funds 2019
Unrestricted Funds Endowment Funds
----- End of picture text -----

10

SECOND PRESBYTERIAN CHURCH ISLANDMAGEE A Congregation of The Presbyterian Church in Ireland

NOTES TO THE ACCOUNTS 31 December 2020

8. CHARITABLE ACTIVITIES

Unrestricted Funds
Charitable Activities
£
General Assembly
Assessments
7168
Ministry and support staff
costs
16833.44
Congregational running
expenses
449.08
Donations to missions and
charities
0
Presbytery Fees
379
_
24,830
_
9. OTHER EXPENDITURE
Unrestricted Funds
Restricted Funds
Other
Payments
£
£
Investment
Costs
Other
0
0
_
_
0
0
_
_
Restricted Funds
£
0
0
5,607
5,539
__
11,146
__

Endowment Funds
£
0
_
0
_		 __
_		 Endowment Funds
Total Funds 2020
Total Funds 2019
£
£
£
0
7,168
9,105
0
16,833
28,235
0
6,056
13,743
0
5,539
6,827
0
379
375
_ _ _
0
35,976
58,284

_
_
Total Funds 2019
Total Funds 2018
£
£
0
0
_
_
0
0
_
____		 Total Funds 2019
£
9,105
28,235
13,743
6,827
375
_
58,284
_




11

SECOND PRESBYTERIAN CHURCH ISLANDMAGEE

A Congregation of The Presbyterian Church in Ireland

NOTES TO THE ACCOUNTS 31 December 2020

10. FUND BALANCES
Balance
at start
Income
£
£
Unrestricted
Funds
General Fund
-790
29,171
Bequests Fund
0
12,127
_
_
-790
41,298
_
_
Restricted Funds
Property/Building
Fund
902
United Appeal
£4,370.00
General Missions
Fund
£1,171.75
Other
Congregational
Fund (Christian
Literature)
180
_
_
Restricted Funds
Total
49,108
6,624
_
_
Organisation
Restricted Fund
N/A
Overall
Restricted Funds
Total
49,108
6,624
_
_
Endowments
0
0
_
_
0
0
TOTAL
48,318
47,921
__
_		 10. FUND BALANCES
Balance
at start
Income
£
£
Unrestricted
Funds
General Fund
-790
29,171
Bequests Fund
0
12,127
_
_
-790
41,298
_
_
Restricted Funds
Property/Building
Fund
902
United Appeal
£4,370.00
General Missions
Fund
£1,171.75
Other
Congregational
Fund (Christian
Literature)
180
_
_
Restricted Funds
Total
49,108
6,624
_
_
Organisation
Restricted Fund
N/A
Overall
Restricted Funds
Total
49,108
6,624
_
_
Endowments
0
0
_
_
0
0
TOTAL
48,318
47,921
__
_		 10. FUND BALANCES
Balance
at start
Income
£
£
Unrestricted
Funds
General Fund
-790
29,171
Bequests Fund
0
12,127
_
_
-790
41,298
_
_
Restricted Funds
Property/Building
Fund
902
United Appeal
£4,370.00
General Missions
Fund
£1,171.75
Other
Congregational
Fund (Christian
Literature)
180
_
_
Restricted Funds
Total
49,108
6,624
_
_
Organisation
Restricted Fund
N/A
Overall
Restricted Funds
Total
49,108
6,624
_
_
Endowments
0
0
_
_
0
0
TOTAL
48,318
47,921
__
_		 10. FUND BALANCES
Balance
at start
Income
£
£
Unrestricted
Funds
General Fund
-790
29,171
Bequests Fund
0
12,127
_
_
-790
41,298
_
_
Restricted Funds
Property/Building
Fund
902
United Appeal
£4,370.00
General Missions
Fund
£1,171.75
Other
Congregational
Fund (Christian
Literature)
180
_
_
Restricted Funds
Total
49,108
6,624
_
_
Organisation
Restricted Fund
N/A
Overall
Restricted Funds
Total
49,108
6,624
_
_
Endowments
0
0
_
_
0
0
TOTAL
48,318
47,921
__
_		 10. FUND BALANCES
Balance
at start
Income
£
£
Unrestricted
Funds
General Fund
-790
29,171
Bequests Fund
0
12,127
_
_
-790
41,298
_
_
Restricted Funds
Property/Building
Fund
902
United Appeal
£4,370.00
General Missions
Fund
£1,171.75
Other
Congregational
Fund (Christian
Literature)
180
_
_
Restricted Funds
Total
49,108
6,624
_
_
Organisation
Restricted Fund
N/A
Overall
Restricted Funds
Total
49,108
6,624
_
_
Endowments
0
0
_
_
0
0
TOTAL
48,318
47,921
__
_		 Expenditure
£
25,292
0
_
25,292
_
5,427
£4,370.00
£1,168.75
180
_
11,146
__ _		 Expenditure
£
25,292
0
_
25,292
_
5,427
£4,370.00
£1,168.75
180
_
11,146
__ _		 Gains/
(Losses)
£
3,879
12,127
_
16,006
_
-4,525
0
3
0
_
-4,522
_ _		 Transfer
£
0
0
_
0
_
0
0
0
0
_ _
0
_ _		 Balance
At end
£
3,088
12,127
_
15,215
_
_
44,586
_
_
 49,108
_
0
_
0
48,318
_		 6,624
_
0
_
0
47,921
_		 11,146
_
0
_
0
36,438
_		 -4,522
_
0
_
0
11,484
_		 0
_
0
_______
0
0
_		 44,586
_
0
_
0
59,801
_

12

SECOND PRESBYTERIAN CHURCH ISLANDMAGEE

A Congregation of The Presbyterian Church in Ireland

NOTES TO THE ACCOUNTS 31 December 2020

11. FUNDS RECONCILIATION

Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2020 Total Funds 2019
£ £ £ £ £
Funds Reconciliation
Bank and Cash at start
of year		 -790 49,108 0 48,318 56,139
Net Movement in 16,006 -4,522 0 11,484 -7,821
funds
_ __ _ __ __
Bank and Cash at end 15215.42 44585.66 0 59,801 48,318
of year _ __ _ __ __

12. FIXED ASSETS

The congregation owns the church premises and church hall situated at Lunnon Road, Islandmagee.

The congregation also owns the manse situated at 178 Low Road, Islandmagee, BT40 3RF

13. INVESTMENTS

The congregation has the following investments. Amounts are shown at market valuation.

Investments
General Investment Fund		 2020
£
81,631
_
81,631
_		 2019
£
70,000
_
70,000
_

13

SECOND PRESBYTERIAN CHURCH ISLANDMAGEE

A Congregation of The Presbyterian Church in Ireland

NOTES TO THE ACCOUNTS 31 December 2020

14. Liabilities

Liabilities
Loans
Other		 2020
£
0
0
_
0
_		 2019
£
0
0
_
0
_

14