an FIRST DONAGHADEE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY for the year ended 31 December 2023 Note Unrestricted Restricted Funds Funds Total 2023 Total 2022 Recelpts Donations and legacies Charitable activities Other trading activities Investment Income Other 355,598 2,595 15,473 12,609 22,543 378,141 2,595 22,305 13,788 87,156 3,894 12,824 4,188 6,833 1,179 Total Recelpts 386,275 30,554 416,829 118,062 Payments Raising funds Charitable activities 399 73,803 399 118,369 544 94,678 44,566 Total payments 74,202 44,566 118,768 95,222 Net recelpts Transfers between funds Increase/ldecreasel in value of investments 312,073 15011 16,8641 114,0121 501 298,061 22,840 16,864) 4,472 Surplus for the year 304,708 113,5111 291,197 27,312 Funds brought forward 44,420 65,988 110,408 83,096 Funds carried forward 349,128 52,477 401,605 110,408
an FIRST DONAGHADEE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND BALANCE SHEET as at 31 December 2023 Note 2023 2022 Flxed Assets Tan8ible assets 450,000 450,000 Investments io 412,692 112,926 862,692 562,926 Current Assets Cash at bank and in hand 103,997 105,936 103,997 105,936 Credltors: amounts falllng due withln one year Net Current Assets 103,997 105,936 Net Assets 966,689 668,862 Charlty funds Restricted funds 52,477 65,988 Unrestricted fund5 914,212 602,874 Total charlty funds 966,689 668,862 th Approved by the Kirk Session at a meeting on 16 April 2025 and signed on its behalf by.. xand&r To Johnston Trustee 10
an FIRST DONAGHADEE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS Year ended 31 December 2023 ACCOUNTING POLICIES The financial statements have been prepared in accordance with applicable accounting standards, Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102), the Charitie5 Act (Northern Ireland) 2008, Charities Act (Northern Ireland) 2013, The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 and UK Generally Accepted Accounting Practice. The financial statements have been prepared on a going concern basis a5 the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of resources for the charity to be able to continue as a going concern. The charity has applied Update Bulletin l as published on 2 February 2016 and doe5 not include a cash flow statement on the grounds that it is applying FRS 102 Section IA. 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 la} income from endowments which is to be expended only on the restricted purposes intended by the donor and Ib) 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. INCOME Plate Collections and weekly envelopes are accounted for on a cash receipts basis as the amount is collected. 11
Presbyter an FIRST DONAGHADEE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS Year ended 31 December 2023 I. ACCOUNTING POLICIES (continued) Legacies are included within income under either unrestricted or restricted funds according to the terms under which the donation is made, For legacies, entitlement is the earlierof the charity being notified of an impending distribution orthe legacy being received Income from trading activities includes income earned from fundraising events and trading activities to raise fund5 for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. Investment income is earned through holding assets for investment purposes such as shares, unit trusts and property. It includes dividends, interest and rent. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. Interest and dividendstogetherwith anyreclaimabletaxcredits areincluded intheaccountsas received. Rent is included in the accounts when it is receivable. EXPENDITURE All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is reco8nised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. HERrrAGE ASSErs The congregation owns the Church premises situated at 20 High Street, Donaghadee. This building is deemed to be a heritage asset as defined by the Charities SORP 2019 IFRS 1021. The heritage asset is not included on the balance sheet as information on the cost or valuation is not available and such information cannot be obtained at a cost commensurate with the benefit to the users of the accounts and to the Church. TANGIBLE FIXED ASSETS Tangible fixed assets are stated at cost if the cost is at least £1,000. It is the view of the Trustees that the Manse is a 'residential home" for valuation purposes. It is currently unoccupied by the Minister and is being used to obtain rental income. The Manse is carried in the accounts at the Trustees, valuation. Equipment is depreciated on a straight line basis over the life of the asset. 12
an FIRST DONAGHADEE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS Year ended 31 December 2023 DONATIONS AND LEGACIES Unrestricted Funds Restricted Funds Total 2023 Total 2022 Recorded giving.. Donations and gifts 348,422 18,853 367,275 76,606 G ift Aid 7,176 3,690 10,866 10,550 355,598 22,543 378,141 81,156 CHARITABLE ACTIVITIES Unrestricted Funds Restricted Funds Total 2023 Total 2022 Fundraising events 2,595 2,595 3,894 OTHER TRADING ACTIVITIES Unrestricted Restricted Funds Funds Total 2023 Total 2022 Letting of premises 15,473 6,832 22,305 22,824 INVESTMENT INCOME Unrestricted Restricted Funds Funds Total 2023 Total 2022 Deposit interest Other investment income 117 12,492 1,179 1,296 12,492 107 4,081 12,609 1,179 13,788 4,188 13
an FIRST DONAGHADEE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) Year ended 31 December 2023 RAISING FUNDS Unrestricted Funds Restricted Funds Total 2023 Total 2022 FWO envelopes 399 399 544 CHARITABLE AcfiviTIES Unrestricted Funds Restricted Funds Total 2023 Total 2022 General Assembly Assessments Presbytery fees Ministry and support staff costs Congregational runni ng expenses Donations to Missions and charities Governance costs 37,954 497 14,784 20,967 37,954 497 14,784 55,385 10,148 35,967 722 15,065 26,530 16.938 34,417 10,148 74,202 44,566 118,768 95,222 HERITAGE ASSETS The congregation owns the Church premises situated at 20 High Street, Donaghadee. This building is deemed to be a heritage asset as defined by the Charities SORP 2019 IFRS 1021. The heritage asset is not included on the balance sheet as information on the cost or valuation is not available and such information cannot be obtained at a cost commensurate with the benefit to the users of the accounts and to the Church. 14
an FIRST DONAGHADEE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS {cont'd) Year ended 31 December 2023 FIXED ASSETS Manse Equlpment Total Costlvaluatlon At l January 2023 and at 31 December 2023 450,000 2,000 452,000 Depreclatlon 2,000 2,000 At l January 2023 and at 31 December 2023 2,000 Net book value: At 31 December 2023 450,000 450,000 At 31 December 2022 450,000 450,000 10. FIXED ASSET INVESTMENTS Listed investments Other investments Total Cost or valuation At l January 2023 Additions Drawdown Revaluation At 31 December 2023 112,926 300,000 112,926 300,000 16,8641 412,692 16,8641 412,692 15
an FIRST DONAGHADEE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS {cont'd) Year ended 31 December 2023 11. PENSION COSTS The Minister of the congregation is a member of the Presbyterian Church in Ireland Pension Scheme {20091, 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 for the Scheme and based on the stipend paid to the Minister. The amount contributed by assessment in the year ended 31SI December 2023 was £4,767. 12. RELATED PARTY TRANSACTION One of the Trustees received remuneration as Minister of the Church. The remuneration received in the year ended 315t December 2023 was £19,862 and expenses of £4,083. Pension contribution5 of £4,767 were paid by the congregation in respect of the Minister to the Presbyterian Church in Ireland Pension Scheme120091. 16