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