Hillsborough Presbyterian Church a congregation of the Presbyterian Church in Ireland
Financial Statements for the year ended 31 December 2022
Registered with the Charity Commission for Northern Ireland NIC105135
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HILLSBOROUGH PRESBYTERIAN CHURCH
a congregation of the Presbyterian Church in Ireland
STATEMENT OF FINANCIAL ACTIVITY For the year ended 31 December 2022
| Notes Income and Endowments from: Donations and legacies 2 Charitable activities 3 Other trading activities 4 Investments 5 Other 6 Total Expenditure on: Raising Funds 7 Charitable activities 8 Other 9 Total Net gains/(losses) on investments Net Income/ (expenditure) Transfers between funds 18 Gains/(losses on revaluation of fixed assets 13 Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted Funds Restricted Funds Endowment Funds 2022 2021 £ £ £ £ £ 167,296 72,508 239,804 229,004 500 71,293 71,793 36,009 0 0 662 742 1,404 1,126 508 1,274 1,782 5,470 |
|---|---|
| 168,966 145,817 0 314,783 271,609 |
|
| 718 718 718 214,226 125,586 339,812 279,335 0 0 |
|
| 214,944 125,586 0 340,530 280,053 |
|
| 0 0 0 |
|
| -45,978 20,231 0 -25,747 -8,444 -2,404 2,404 0 -5,748 -2,751 -2,703 -11,202 21,113 |
|
| -54,130 19,884 -2,703 -36,949 12,669 1,691,158 136,106 32,876 1,860,140 1,847,471 |
|
| 1,637,028 155,990 30,173 1,823,191 1,860,140 |
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HILLSBOROUGH PRESBYTERIAN CHURCH a congregation of the Presbyterian Church in Ireland
BALANCE SHEET As at 31 December 2022
| Notes Fixed assets Tangible assets 12 Investments 13 Total fixed assets Current assets Debtors 14 Current Investments Cash at bank and in hand 15 Total current assets Liabilities Creditors: Amounts falling due within one year 16 Net Current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 17 Provisions for liabilities Total net assets or liabilities Funds of the charity Endowment funds 18 Restricted income funds 18 Unrestricted funds 18 Revaluation reserve Total charity funds |
Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2022 Total Funds 2021 £ £ £ £ £ 1,458,849 0 0 1,489,849 1,501,770 86,976 34,402 30,173 151,551 122,420 |
|---|---|
| 1,545,825 34,402 30,173 1,610,400 1,624,190 |
|
| 12,541 30,724 0 43,265 13,427 0 0 0 0 0 84,730 112,875 0 197,605 185,156 |
|
| 97,271 143,599 0 240,870 198,583 |
|
| 6,038 22,011 0 28,079 24,402 |
|
| 91,203 121,588 0 212,791 174,181 |
|
| 0 0 0 0 0 0 0 0 0 0 |
|
| 1,637,028 155,990 30,173 1,823,191 1,798,371 |
|
| 0 0 30,173 30,173 32,876 0 155,990 0 155,990 136,106 1,637,028 0 0 1,637,028 1,691,158 0 0 0 0 0 |
|
| 1,637,028 155,990 30,173 1,823,191 1,860,140 |
Approved by the Kirk Session at a meeting on 9[th] July 2023 and signed on its behalf by :
Rev Dr Allen Sleith, 9[th] July 2023
Joyce McKee, 9[th] July 2023
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HILLSBOROUGH PRESBYTERIAN CHURCH
a congregation of the Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS
31 December 2022
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 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.
1. ACCOUNTING POLICIES (cont’d)
INCOMING RESOURCES
(i) Recognition of incoming resources
These are included in the Statement of Financial Activities (SoFA) when:
-
the congregation becomes entitled to the resources;
-
the trustees are virtually certain they will receive the resources; and
-
the monetary value can be measured with sufficient reliably
(ii) Incoming resources with related expenditure Where incoming resources have related expenditure (as with fundraising income) the incoming resources and related expenditure are reported gross in the SoFA.
(iii) Grants and donations Grants and donations are only included in the SoFA when the congregation has unconditional entitlement to the resources.
(iv) Tax reclaims on donations and gifts
Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to which they relate.
(v) Contractual income and performance related grants
This is only included in the SoFA once the related goods or services have been delivered.
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(vi) Gifts in kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SoFA as incoming resources when receivable.
(vii) Donated services and facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
(viii) Volunteer help
The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.
(ix) Investment income
This is included in the accounts when receivable.
(x) Investment gains and losses
This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
EXPENDITURE AND LIABILITIES
(xi) Liability recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the congregation to pay out resources.
(xii) Governance costs
These are shown within charitable activities and include the costs of preparation and examination of accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters.
(xiii) Grants with performance conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output.
(xiv) Grants payable without performance conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity .
ASSETS
(xv) Tangible Fixed Assets
Tangible fixed assets for use by charity are capitalised if they can be used for more than one year, and cost at least £2,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation is recorded on all tangible fixed assets other than freehold land, at rates calculated to write off the
cost, less estimated residual value, of each asset over its expected useful life as follows
Buildings: - over 50 years Fixtures, fittings and equipment - over 10 years Motor Vehicles - over 4 years Computers, software and technical equipment - over 4 years
(xvi) Investments
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees’ best estimate of market value.
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HILLSBOROUGH PRESBYTERIAN CHURCH
a congregation of the Presbyterian Church in Ireland
Notes to the Accounts
31 December 2022
2. Donations and Legacies
| Recorded giving Loose Donations and gifts Gift Aid Legacies and bequest |
Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2022 Total Funds 2021 £ £ £ £ £ 129,575 55,572 185,147 177,061 1,138 335 1,473 799 8,259 4,272 12,531 5,665 28,324 12,329 40,653 39,479 0 6,000 |
|---|---|
| 167,296 72,508 0 239,804 229,004 |
3. Charitable Activities
| Income from charitable activities Fees from weddings and funerals Membership fees Fundraising events Grants |
Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2022 Total Funds 2021 £ £ £ £ £ 500 21,124 21,624 7,948 0 0 6,089 6,089 2,792 5,757 5,757 1,529 38,323 38,323 23,740 |
|---|---|
| 500 71,293 0 71,793 36,009 |
4. Other Trading Activities
| Other Trading Activities | |||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total Funds | Total Funds | |||
| Funds | Funds | Funds | 2022 | 2021 | |||
| £ | £ | £ | £ | £ | |||
| Letting of premises | 0 | 0 | 0 | 0 | 0 | ||
| Trading income | 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 |
5. Investments
| Deposit Interest General Investment Fund Property Rents Other investment income |
Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2022 Total Funds 2021 £ £ £ £ £ 409 24 433 335 253 718 971 791 0 0 0 0 |
|---|---|
| 662 742 0 1,404 1,126 |
18
Notes to the Accounts 31 December 2022
6. Other Income
| Insurance Claims Other Income |
Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2022 Total Funds 2021 £ £ £ £ £ 0 508 1,274 1,782 5,470 |
|---|---|
| 508 1,274 0 1,782 5,470 |
7. Raising Funds
| Raising Funds | |||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total Funds | Total Funds | |||
| Funds | Funds | Funds | 2022 | 2021 | |||
| £ | £ | £ | £ | £ | |||
| FWO envelopes | 718 | 718 | 718 | ||||
| Fundraising events | 0 | 0 | |||||
| 718 | 0 | 0 | 718 | 718 |
8. Charitable Activities
| General Assembly Assessments Presbytery Fees Ministry and support staff costs Congregational running expenses Donations to Missions & charities Governance costs |
Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2022 Total Funds 2021 £ £ £ £ £ 25,732 25,732 27,043 1,170 1,170 949 114,532 9,840 124,372 105,949 66,980 76,486 143,466 99,539 34,609 34,609 38,520 5,812 4,651 10,463 7,335 |
|---|---|
| 214,226 125,586 0 339,812 279,335 |
9. Other Expenditure
| Investment Property expenses | Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2022 Total Funds 2021 £ £ £ £ £ 0 0 0 0 0 0 0 0 0 0 |
|---|---|
19
Notes to the Accounts 31 December 2022
10. Employees
| Employment Costs Wages and Salaries Social Security Costs Pension contributions |
Total Funds 2022 Total Funds 2021 £ £ 102,219 86,803 10,387 8,708 13,937 13,538 |
|---|---|
| 126,543 109,049 |
Number of employees
The average number of employees, including the minister of the congregation, during the year was:
| Average number of employees | 2022 2021 5 4 |
|---|---|
There were no employees who received emoluments (excluding pension costs) exceeding £60,000.
11. Pension Costs
The minister of the congregation is a member of the Presbyterian Church in Ireland Pension Scheme (2009). This is a scheme operated by the Presbyterian Church in Ireland, a separate registered charity. The congregation pays an assessment to the Presbyterian Church in Ireland equivalent to the employer’s pension contribution for the Scheme and based on the stipend paid to the minister. The Presbyterian Church in Ireland Pension Scheme (2009) is a funded Scheme of the defined benefit type, providing defined benefits based on career average revalued salary. The Scheme has assets held in a separately administered fund managed by a board of trustees. The Presbyterian Church and the Scheme Trustees have agreed a funding plan to ensure the Scheme is sufficiently funded to meet current and future obligations. A formal schedule of contributions was drawn up on 25 November 2015 whereby the Presbyterian Church agreed to pay from 31 December 2015 contributions of 24% of pensionable salaries to cover the accrual of benefits for future service, expenses, the cost of insuring death in service benefits and funding the scheme deficit.
The contributions made by the congregation during the year were:
| The contributions made by the congregation during the year were: | Total Funds | Total Funds |
| 2022 | 2021 | |
| £ | £ | |
| Contributions | 10,833 | 10,595 |
The congregation operates a defined pension contribution policy for its employees. The scheme and its assets are held by an independent scheme manager. The pension charge represents the contributions due from the congregation during the year:
| Total Funds | Total Funds | |
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Contributions | 3,103 | 2,943 |
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Notes to the Accounts 31 December 2022
| 12. TANGIBLE FIXED ASSETS Cost or Valuation At start of year Additions Disposals At end of year Depreciation At start of year Provision for year Disposals At end of year Net Book Value At start of year At end of year 13. Investments Value at start of year Additions Disposals Gains / (Losses) on revaluation Value at end of year Debtors Gift Aid Recoverable Accounts Recoverable |
£ 92,724 0 0 -5,748 |
Land & Buildings Fixtures & Fittings Vehicles Total 2022 £ £ £ £ 1,861,850 67,330 0 1,929,180 0 0 0 -30,100 0 -30,100 |
|---|---|---|
| 1,861,850 37,230 0 1,899,080 |
||
| 377,172 50,238 0 427,410 37,233 5,688 0 42,921 0 -30,100 0 -30,100 |
||
| 414,405 25,826 0 440,231 |
||
| 1,484,678 17,092 0 1,501,770 |
||
| 1,447,445 11,404 0 1,458,849 |
||
| Restricted Funds Endowment Funds Total Funds 2022 Total Funds 2021 £ £ £ £ 42,051 32,876 167,651 122,419 0 0 29,325 -4,898 -4,898 -5,206 -2,751 -2,703 -11,202 21,113 |
||
| 86,976 | 34,402 30,173 151,551 167,651 |
|
| Unrestricted Funds £ 5,401 7,140 |
Restricted Funds Endowment Funds Total Funds 2022 Total Funds 2021 £ £ £ £ 4,309 9,710 11,189 26,415 33,555 15,906 |
|
| 12,541 | 30,724 0 43,265 27,095 |
14. Debtors
21
Notes to the Accounts 31 December 2022
15. Cash at Bank
| Cash at Bank | |
|---|---|
| Danske Bank Santander Cash in hand |
Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2022 Total Funds 2021 £ £ £ £ £ 84,730 112,608 0 197,338 187,759 0 267 0 267 267 0 0 0 0 0 |
| 84,730 112,875 0 197,605 188,026 |
16. Creditors: Amount falling due within one year
| Accruals Interest Free Loan Other |
Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2022 Total Funds 2021 £ £ £ £ £ 6,068 22,011 0 28,079 24,402 0 0 0 0 0 0 0 0 0 0 |
|---|---|
| 6,068 22,011 0 28,079 24,402 |
17. Creditors: amount falling due after more than one year
| Unrestricted | Unrestricted | Restricted |
Restricted |
Endowment |
Endowment |
Total Funds | Total Funds | ||
|---|---|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | 2022 | 2021 | |||||
| £ | £ | £ | £ | £ | |||||
| 0 | 0 | 0 | 0 | 0 | |||||
| 0 | 0 | 0 | 0 | 0 | |||||
| Fund balances and reconciliation of funds | |||||||||
| Balance at | Gains / | Balance at 31 | |||||||
| 01 Jan 2022 | Income | Expenditure | Losses | Transfer | Dec 2022 | ||||
| £ | £ | £ | £ | £ | £ | ||||
| Unrestricted Funds | |||||||||
| General Fund | 1,554,069 | 168,966 |
-214,944 | 0 | -4,904 | 1,503,187 | |||
| Capital Reserve | 9,365 | 0 | 0 | 0 | 2,500 | 11,865 | |||
| Capital Reserve GIF | 92,724 | -5,748 | 0 | 86,976 | |||||
| Reserve Fund | 35,000 | 0 | 0 | 0 | 0 | 35,000 | |||
| Presbyterian Mutual Society | 0 | 0 | 0 | 0 | 0 | 0 | |||
| 1,691,158 | 168,966 |
-214,944 | -5,748 | -2,404 | 1,637,028 |
18. Fund balances and reconciliation of funds
22
Notes to the Accounts 31 December 2022
| Restricted Funds Helping Hands HPC Fundraising Catering Manse Reserve Fund Zambia 2019 Property Fund Property Jubilee Garden Youth Development Fund Ukraine United Appeal Fund World Development Appeal Moderators Appeal Sunday School Fund Summer Scheme Fund Organisations Organ Fund Young Adults Group Percy Bell Evergreens Parent & Toddler Host Choir Choir Robes Presbyterian Men Presentation Fund Girls' Brigade Boys' Brigade Presbyterian Women Indoor Bowling Badminton Club Youth Account |
Balance at 01 Jan 2022 Income Expenditure Gains / Losses Transfer Balance at 31 Dec 2022 £ £ £ £ £ £ 680 314 -630 364 7,951 16,900 -2,546 -4,657 17,648 0 500 -157 -343 0 15,925 -991 14,934 0 0 0 0 28,004 18,254 -16,872 2,000 31,386 0 23,670 -35,001 11,398 67 31,740 17,919 -9,840 39,819 4,594 -2,137 2,457 0 13,778 -14,007 229 0 0 9,957 -9,957 0 4,030 -4,030 0 74 87 0 161 978 525 -355 1,148 717 1,548 -2,149 116 10,373 -853 9,520 10,579 -625 9,954 5,180 -282 -4,898 0 748 149 -74 823 63 150 213 44 6,463 -3,624 20 2,903 131 131 255 255 38 38 2,215 -2,215 0 4,368 8,103 -7,141 -238 5,092 11,827 6,264 -4,804 262 13,550 1,010 2,826 -2,733 790 1,893 734 540 -151 -250 873 540 463 -30 -400 572 4,147 6,568 -9,282 640 2,073 |
|---|---|
| 136,106 145,817 -125,586 -2,751 2,404 155,990 |
23
Notes to the Accounts
31 December 2022
18. Fund balances and reconciliation of funds (cont)
| Endowment Funds Henry Bell 1 George Bell John Lappin Philpot and Archer Miss Patterson Miss Bell J Sterritt Miss EJ Brown Henry Bell 2 James D Dorman Miss M Gardner Miss M Wilkinson Henry Bell 3 Andrew Lillie Main Street House Rev JH Orr Mrs EF Orr Emily M Smyth Miss Mary Starrett Miss Sadie Baxter Thomas G Tate Mrs M Ball Isaac Mahood Edith Irvine Memorial Bequest Total Funds |
Balance at 01 Jan 2022 Income Expenditure Gains / Losses Transfer Balance at 31 Dec 2022 £ £ £ £ £ £ 1,052 0 0 -87 0 965 1,678 0 0 -138 0 1,540 2,543 0 0 -209 0 2,334 386 0 0 -32 0 354 226 0 0 -18 0 208 852 0 0 -70 0 782 1,065 0 0 -87 0 978 399 0 0 -32 0 367 1,651 0 0 -136 0 1,515 1,119 0 0 -92 0 1,027 346 0 0 -28 0 318 1,971 0 0 -162 0 1,809 1,052 0 0 -87 0 965 213 0 0 -18 0 195 533 0 0 -44 0 489 240 0 0 -20 0 220 160 0 0 -13 0 147 4,115 0 0 -339 0 3,776 892 0 0 -73 0 819 399 0 0 -32 0 367 2,396 0 0 -197 0 2,199 866 0 0 -72 0 794 533 0 0 -44 0 489 8,189 0 0 -673 0 7,516 |
|---|---|
| 32,876 0 0 -2,703 0 30,173 |
|
| 1,860,140 314,783 -340,530 -11,202 0 1,823,191 |
24
Notes to the Accounts
31 December 2022
19. Related Party Transactions
One of the Trustees, the minister of the congregation received remuneration of £45,137 and expenses of £6,647 for acting in that capacity. Pension contribution of £10,833 were paid by the congregation in respect of the minister to the Presbyterian Church in Ireland Pension Scheme (2009). None of the other trustees received any remuneration.
During the year the congregation contributed the following amounts to Funds of the General Assembly of the Presbyterian Church in Ireland a separate charity:
£14,898 for congregational assessments
£14,007 towards the United Appeal
£9,957 toward the World Development Appeal £4,030 Moderators Appeal
The congregation contributed £1,170 towards Presbytery Assessments during the year.
There were no other related party transactions.
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