## **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** 13 ## **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**| 14 ## **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 15 ## **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. 16 ## **(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. 17 ## **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**| 18 ## **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**| |---|---| 19 ## **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**| 20 ## **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**| 21 ## **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**| 22 ## **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**| 23 ## **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**| 24 ## **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. 25