2023-12-31-accounts - Hillsborough Congregation of the Presbyterian Church in Ireland

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Hillsborough Presbyterian Church a congregation of the Presbyterian Church in Ireland

Financial Statements for the year ended 31 December 2023

Registered with the Charity Commission for Northern Ireland NIC105135

HILLSBOROUGH PRESBYTERIAN CHURCH a congregation of the Presbyterian Church in Ireland

STATEMENT OF FINANCIAL ACTIVITY For the year ended 31 December 2023

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 Total Funds 2023 Total Funds 2022 £ £ £ £ £ 175,044 70,787 245,831 239,804 5,844 65,484 71,328 71,793 0 0 1,336 701 2,037 1,404 1,381 1,916 3,297 1,782
	183,605 138,888 0 322,493 314,783
	880 880 718 225,225 145,108 370,333 339,812 0 0
	226,105 145,108 0 371,213 340,530
	0 0 0 0 0
	-42,500 -6,220 0 -48,720 -25,747 6,840 -6,480 0 0 9,817 3,673 2,731 16,221 -11,202
	-25,843 -9,387 2,731 -32,499 -36,949 1,637,028 155,990 30,173 1,823,191 1,860,140
	1,611,185 146,603 32,904 1,790,692 1,823,191

HILLSBOROUGH PRESBYTERIAN CHURCH a congregation of the Presbyterian Church in Ireland

BALANCE SHEET As at 31 December 2023

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 2023 Total Funds 2022 £ £ £ £ £ 1,416,318 0 0 1,416,318 1,458,849 96,793 38,075 32,904 167,772 151,551
	1,513,111 38,075 32,904 1,584,090 1,610,400
	11,095 6,251 0 17,346 43,265 0 0 0 0 0 94,898 122,415 0 217,313 197,605
	105,993 128,666 0 234,659 240,870
	7,919 20,138 0 28,057 28,079
	98,074 108,528 0 206,602 212,791
	0 0 0 0 0 0 0 0 0 0
	1,611,185 146,603 32,904 1,790,692 1,823,191
	0 0 32,904 32,904 30,174 0 146,603 0 146,603 155,989 1,611,185 0 0 1,611,185 1,637,028 0 0 0 0 0
	1,611,185 146,603 32,904 1,790,692 1,823,191

Approved by the Kirk Session and signed on its behalf by :

Rev Dr Allen Sleith, 26[th] April 2024

Joyce McKee, 26[th] April 2024

HILLSBOROUGH PRESBYTERIAN CHURCH

a congregation of the Presbyterian Church in Ireland

NOTES TO THE ACCOUNTS

31 December 2023

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.

(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.

HILLSBOROUGH PRESBYTERIAN CHURCH

a congregation of the Presbyterian Church in Ireland

Notes to the Accounts 31 December 2023

2. Donations and Legacies

Recorded giving Loose Donations and gifts Gift Aid Legacies and bequest	Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2023 Total Funds 2022 £ £ £ £ £ 132,076 53,086 185,162 185,147 3,070 1,062 4,132 1,473 11,185 4,379 15,564 12,531 27,713 12,260 39,973 40,653 1,000 1,000
	175,044 70,787 0 245,831 239,804

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 2023 Total Funds 2022 £ £ £ £ £ 30,882 30,882 21,624 8,205 8,205 6,089 6,064 6,064 5,757 5,844 20,333 26,177 38,323
	5,844 65,484 0 71,328 71.793

4. Other Trading Activities

Other Trading Activities
	Unrestricted	Restricted		Endowment		Total Funds	Total Funds
	Funds	Funds		Funds		2023	2022
	£	£		£		£	£
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 2023 Total Funds 2022 £ £ £ £ £ 1,092 95 1,187 433 244 606 850 971
	1,336 701 0 2,037 1,404

Notes to the Accounts 31 December 2023

6. Other Income

Other Income
	Unrestricted	Restricted	Endowment		Total Funds	Total Funds
	Funds	Funds	Funds		2023	2022
	£	£	£		£	£
Insurance Claims
Other Income	1,381	1,916		0	3,297	1,782
	1,381	1,916		0	3,297	1,782
Raising Funds
	Unrestricted	Restricted	Endowment		Total Funds	Total Funds
	Funds	Funds	Funds		2023	2022
	£	£	£		£	£
FWO envelopes	880				880	718
Fundraising events
	880	0		0	880	718

7. Raising Funds

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 2023 Total Funds 2022 £ £ £ £ £ 26,683 26,683 25,732 1,219 1,219 1,170 117,914 29,900 147,814 124,372 72,091 75,995 148,086 143,466 1,319 37,567 38,886 34,609 5,999 1,646 7,645 10,463
	225,225 145,108 0 370,333 339,812

9. Other Expenditure

Investment Property expenses	Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2023 Total Funds 2022 £ £ £ £ £ 0 0 0 0 0 0 0 0 0 0

Notes to the Accounts 31 December 2023

10. Employees

. Employees
Employment Costs Wages and Salaries Social Security Costs Pension contributions	Total Funds 2023 Total Funds 2022 £ £ 123,320 102,219 11,960 10,387 14,840 13,937
	150,120 126,543

Number of employees
The average number of employees, including the minister of the congregation, during the year was:
2023		2022
Average number of employees	5		5

There were no employees in receipt oof employee benefits in excess of £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
	2023	2022
	£	£
Contributions	11,374	10,833

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:

during the year:
	Total Funds	Total Funds
	2023	2022
	£	£
Contributions	3,465	3,103

Notes to the Accounts 31 December 2023

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	Unrestricted Funds £ 86,976 0 0 9,817	Land & Buildings Fixtures & Fittings Vehicles Total 2023 £ £ £ £ 1,861,850 37,230 0 1,899,080 0 0 0 0 -28,000 -17,100 0 -45,100 1,833,850 20,130 0 1,853,980 414,405 25,826 0 440,231 37,053 5,478 0 42,531 -28,000 -17,100 0 -45,100 423,458 14,204 0 437,662 1,447,445 11,404 0 1,458,849 1,410,392 5,926 0 1,416,318 Restricted Funds Endowment Funds Total Funds 2023 Total Funds 2022 £ £ £ £ 34,402 30,173 151,551 167,651 0 0 0 0 0 0 0 -4,898 3,673 2,731 16,221 -11,202
	96,793	38,075 32,904 167,772 151,551

Notes to the Accounts 31 December 2023

14. Debtors

Debtors
Gift Aid Recoverable Accounts Recoverable	Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2023 Total Funds 2022 £ £ £ £ £ 4,910 4,011 0 8,921 9,710 6,185 2,240 0 8,425 33,555
	11,095 6,251 0 17,346 43,265

15. Cash at Bank

. Cash at Bank
Danske Bank Santander Cash in Hand	Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2023 Total Funds 2022 £ £ £ £ £ 94,898 122,148 0 217,046 197,338 267 0 267 267 0 0 0 0 0
	94,898 122,415 0 217,313 197,605

16. Creditors: Amount falling due within one year

Accruals Interest Free Loan Other	Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2023 Total Funds 2022 £ £ £ £ £ 7,919 20,138 0 28,057 28,079 0 0 0 0 0 0 0 0 0 0
	7,919 20,138 0 28,057 28,079

17. Creditors: amount falling due after more than one year

Unrestricted	Restricted		Endowment		Total Funds	Total Funds
Funds	Funds		Funds		2023	2022
£	£		£		£	£
0		0		0	0	0
0		0		0	0	0

Notes to the Accounts 31 December 2023

18. Fund balances and reconciliation of funds

Unrestricted Funds General Fund Capital Reserve Capital Reserve GIF Reserve Fund LCCC PHA Restricted Funds Helping Hands HPC Fundraising Catering Manse Reserve Fund Property Fund Property Jubilee Garden Youth Development Fund Ukraine Fund United Appeal Fund World Development Appeal Sunday School Fund Summer Scheme Fund Organisations Organ Fund Young Adults Group Evergreens Parent & Toddler Host Choir Choir Robes Presbyterian Men Girls' Brigade Boys' Brigade Presbyterian Women Indoor Bowling Badminton Club Youth Account	Balance at 01 Jan 2023 Income Expenditure Gains / Losses Transfer Balance at 31 Dec 2023 £ £ £ £ £ £ 1,503,187 177,761 -223,566 0 1,840 1,459,222 11,865 0 0 0 5,000 16,865 86,976 0 0 9,817 0 96,793 35,000 0 0 0 0 35,000 0 1,860 -1,860 0 3,984 -679 3,305
	1,637,028 183,605 -226,105 9,817 6,840 1,611,185
	364 0 -118 246 17,648 17,318 -6,748 -9,450 18,768 0 900 -350 -550 0 14,934 1,685 16,619 31,386 18,064 -11,836 -13,562 24,052 67 13,226 -31,355 18,062 0 39,819 20,056 -30,016 79 29,938 2,456 2,199 -1,737 2,918 0 14,663 -15,114 451 0 0 11,339 -11,339 0 161 84 -160 85 1,148 1,340 -1,506 982 116 3,059 -116 -2,777 282 9,520 862 10,382 9,954 1,127 11,081 823 314 -200 937 213 200 413 2,903 1,143 -3,030 -820 196 131 -50 81 255 255 38 38 5,092 10,466 -8,427 703 7,834 13,550 5,901 -6,702 720 13,469 1,893 3,760 -2,926 194 2,921 873 761 -410 -250 974 572 550 -176 -350 596 2,073 13,543 -12,840 760 3,536
	155,989 138,886 -145,106 3,674 -6,840 146,603

Notes to the Accounts 31 December 2023

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 2023 Income Expenditure Gains / Losses Transfer Balance at 31 Dec 2023 £ £ £ £ £ £ 965 0 0 88 0 1,053 1,540 0 0 139 0 1,679 2,334 0 0 211 0 2,545 354 0 0 32 0 386 208 0 0 19 0 227 782 0 0 71 0 853 978 0 0 88 0 1,066 367 0 0 33 0 400 1,515 0 0 137 0 1,652 1,026 0 0 93 0 1,119 318 0 0 29 0 347 1,809 0 0 164 0 1,973 965 0 0 87 0 1,052 196 0 0 18 0 214 489 0 0 44 0 533 220 0 0 20 0 240 147 0 0 13 0 160 3,776 0 0 342 0 4,118 819 0 0 74 0 893 367 0 0 33 0 400 2,200 0 0 199 0 2,399 794 0 0 72 0 866 489 0 0 44 0 533 7,516 0 0 680 0 8,196
	30,174 0 0 2,730 0 32,904

	1,823,191 322,491 -371,211 16,221 0 1,790,692

Notes to the Accounts

31 December 2023

19. Related Party Transactions

One of the Trustees, the minister of the congregation received remuneration of £47,894 and expenses of £7,244 for acting in that capacity. Pension contribution of £11,374 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:

£15,309 for congregational assessments

£15,114 towards the United Appeal

£11,339 toward the World Development Appeal

The congregation contributed £1,219 towards Presbytery Assessments during the year.

There were no other related party transactions.