## **Railway Street Presbyterian Church**
## **a Congregation of the**
## **Presbyterian Church in Ireland**
**Trustees Annual Report and Financial Statements for the year ended 31 December 2023**
**Registered with the Charity Commission for Northern Ireland NIC 105157**
## **RAILWAY STREET PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland**
## **TRUSTEES’ ANNUAL REPORT**
The Trustees present their Annual Report and Financial Statements for the year ended 31 December 2023 including a Balance Sheet as at that date.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
Railway Street Congregation of the Presbyterian Church in Ireland
31 Railway Street, Lisburn BT28 1XP
Registered Charity in Northern Ireland (NIC105157)
## **CHARITY TRUSTEES**
The Charity Trustees who served during the year or who were trustees at the date of this report were:-
Rev Michael Davidson Ian Menown Samuel Mitchell David Artt Ian Barron Mrs Jean Murray William Bittle John McCleary Aaron Curragh Bryan Nelson Maurice Gowdy Daniel Nelson Diarmid Finnegan Roger Thompson Charlie Hadjiev Alan Wall Miss Heather Henry Gordon Wallace Stephen Johnston Adam Woods Gordon Lindsay Ivan Woods
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## **RAILWAY STREET PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEES’ ANNUAL REPORT (continued)**
## **PRINCIPAL OFFICE BEARERS**
Minister Rev Michael Davidson Clerk of Session Stephen Johnston Treasurer Gordon Wallace
## **INDEPENDENT EXAMINER**
Iain Gillespie FCA
Chartered Accountant 75 Waterloo Road
Lisburn
BT27 5NW
## **BANKERS**
Danske Bank 62-66 Bow Street Lisburn
BT28 1YN
## **SOLICITORS**
McFarland Graham McCombe 41-43 Bachelors Walk
Lisburn BT28 1XN
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## **RAILWAY STREET PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEES’ ANNUAL REPORT (continued)**
## **STRUCTURE AND MANAGEMENT**
## **The Kirk Session**
The Charity Trustees of the congregation are the members of its Kirk Session. Under the congregation’s governing document, The Code, the book of the constitution and government of the Presbyterian Church in Ireland, the Kirk Session seeks to watch over and promote the spiritual interest of the congregation and of persons not connected with any congregation who are within its bounds. It ensures pastoral care is in place in the congregation and seeks to further the contribution of the Church to Christian witness and service in the local community. The Kirk Session has delegated to its Congregational Committee the temporal affairs of the congregation, including administering all funds and property belonging to the congregation. Members of the Kirk Session are ex-officio members of the Congregational Committee.
The Kirk Session consists of the ordained minister and the ruling elders of the congregation. All members are entitled to propose, speak and exercise equal votes at meetings, except that the Moderator, the minister in active duty in the congregation, has no deliberative but only a casting vote.
Stated meetings of the Kirk Session are held at least four times in each year or as appropriate. To be chosen for the office of the eldership in the congregation a person must be a voting member and a regular attendant at its ordinances. The selection of those proposed to be called to the office can be either by the congregation or by the Kirk Session. Members are elected if they obtain onethird of the votes cast.
## **Presbytery**
Under the Presbyterian Church in Ireland form of governance the corporate oversight of a congregation is the responsibility of a Presbytery, which superintends generally the spiritual and temporal affairs of the congregations assigned to it by the General Assembly of the Presbyterian Church in Ireland. Railway Street Presbyterian Church has been assigned to the Dromore Presbytery of the Presbyterian Church in Ireland. The membership of the Presbytery consists mainly of the active ministers of congregations assigned to it by the General Assembly, ministers who have retired from active duty and an elder appointed by the Kirk Session of each congregation.
## **The General Assembly**
The General Assembly is the supreme court of the Church, representing in one body the whole Church and acting as its supreme legislative, administrative and judicial authority, in dealing with all matters brought before it. The General Assembly is normally constituted during the first week in June for worship and to conduct its business. At the end of business, it is dissolved. The membership of the General Assembly consists mainly of the active ministers of each congregation, retired ministers and a representative elder appointed by the Kirk Session of each congregation.
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## **RAILWAY STREET PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEES’ ANNUAL REPORT (continued)**
## **DESCRIPTION AND PURPOSE**
Railway Street Presbyterian Church is a congregation of the Presbyterian Church in Ireland. The Presbyterian Church in Ireland, as a Reformed Church within the wider body of Christ, is grounded in the Scriptures, and exists to love and honour God through faith in His Son and by the power of His Spirit, and to enable her members to play their part in fulfilling God’s mission to our world.
The congregation’s mission purpose is “Following Christ, serving the community.”
Our vision is, by the grace of God, to be an inclusive, welcoming community of Christ’s people of all ages, which:
- is increasingly characterised by love for God, and love and concern for others;
- is committed to the historic Christian gospel as revealed in the Bible;
- is relevant to people of this time and place.
The congregation aims to live out its Mission and Vision as a family of God’s people by being:
- A Covenant Community: where our relationships are rooted in the promises of God by living faithfully toward him and towards one another;
- An Intergenerational Community: where adults intentionally take the lead to engage with, encourage and nurture younger members to maturity in Christ;
- An Outward-looking Community: where we want the blessings of God that belong to us in the gospel to become blessings for others beyond the bounds of our community.
As a congregation of the Presbyterian Church in Ireland, we believe that the Bible is the supreme authority over all we do, and that the Westminster Confession of Faith, along with the Larger and Shorter Catechisms, set out what we understand the Bible teaches on key matters of Christian faith and practice.
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## **RAILWAY STREET PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEES’ ANNUAL REPORT (continued)**
## **ACTIVITIES AND OBJECTIVES**
The congregation still meets for worship every Sunday and visitors are welcome to join. The morning service is live streamed and is also available on a dedicated telephone line.
The Sacrament of the Lord’s Supper is normally observed on several occasions during the year and all those who have been baptised and who have made a profession of faith in the Lord Jesus Christ are admitted to the Lord’s Supper.
The congregation normally holds regular Bible study meetings and has a wide range of organisations including:-
- Beginners’ Church
- KIDS Church
- Junior Youth
- Senior Youth
- Boys’ Brigade
- Girls’ Brigade
- 20s & s30s
- Presbyterian Women
- 422
## **ACHIEVEMENTS AND PERFORMANCE**
## **Worship and prayer**
The congregation meets for morning worship each Sunday at 10.30am and 6.30pm. Fortnightly Discipleship Groups provide an opportunity for members to meet together for fellowship, to study the scriptures and for a time of prayer. A monthly meeting for corporate prayer is held on the third Monday of each month.
As well as our regular services during the year we acknowledge God’s gift of new life through the sacrament of baptism and also conduct marriage services. At funeral services, we give thanks for faithful service and seek to comfort those who have been bereaved.
At 31 December 2023 there were 265 communicant members and 330 families connected with the congregation.
We estimate that the average attendance for in person morning worship during the year was 300.
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## **RAILWAY STREET PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEES’ ANNUAL REPORT (continued)**
## **Pastoral care**
Members of the congregation who are unable to attend church due to sickness or age are visited on a regular basis by the minister, the deaconess, elders or by friends from the congregation.
## **Mission and Outreach**
At a local level the congregation undertakes local mission and outreach by seeking to equip members to share their Christian faith naturally in their individual context, whether this be with family and neighbours, or in education, employment and leisure activities.
The congregation supports the United Appeal for Mission which is a central fund of the Presbyterian Church in Ireland. This fund enables congregations to support the wider mission of the denomination and to do mission and outreach on a denominational basis beyond what the congregation could do on its own. The United Appeal Fund provides financial support for mission personnel at home and overseas, assists congregations with the deployment of locally based staff, enables church planting, provides grant support for the upkeep of church premises, assists with the running costs of Union Theological College (the Church’s training college for ministry students) and supports congregations financially in the areas of worship, discipleship, global mission, outreach, leadership and pastoral care.
## **Presbytery**
The congregation was represented at the regular meetings of Presbytery by our minister and / or one of the elders. This provides an important link between the congregation and the wider structures of the church.
## **General Assembly**
The minister and one of our elders were nominated to attend the annual meeting of the General Assembly of the Presbyterian Church in Ireland held in Assembly Buildings, Belfast, in June 2023.
## **Property**
The main work undertaken on the property was the completion of snagging matters related to the project for the refurbishment of the Link and Minor Hall.
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## **RAILWAY STREET PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEES’ ANNUAL REPORT (continued)**
## **Organisations**
The congregation has a wide range of organisations that meet during the week.
These include:-
- Crèche – for children under 3 who meet during morning service each Sunday
- Beginners’ Church – for children aged 3 to 6 who meet during morning service between the months of September and June
- KIDS Church – for children aged between 7 and 11 who meet during morning service between the months of September and June
- Junior Youth – for young people in year 8 to year 11 who meet during morning service between the months of September and June
- Senior Youth – for young people in year 12 to year 14 who meet during evening service between the months of September and June
- 20s & 30s – for those between ages 18 and 40 who meet monthly between the months of September and June
- Boys’ Brigade – meets on a Monday or Tuesday evening between the months of September and April. The BB company is divided into 3 sections, Anchor Boys (aged 5-8), Junior Section (aged 9- 11) and Company Section (aged 12-18)
- Girls’ Brigade – meets on a Thursday evening between the months of September and April. The GB company is divided into 5 sections, Tiny Tots, (3-P1), Explorers (P2- P4), Juniors (P5-P7), Seniors (Yr 8-10) and Brigaders (Yr 11 and above)
- Presbyterian Women – for ladies in the congregation of all ages, meeting on the fourth Monday monthly between September and April
- 422 – open to all ages, meeting on the fourth Thursday of each month at 2.30pm in the afternoon, for 1.5 hours between September and June
- Bible Discovery – open to all ages, meets on alternate Thursday mornings
- Prayer Focus – open to all ages, meets on the third Monday of each month
- Mums Bible Study Group – open to all young mums and their pre-school children, meets on a Friday morning between September and June
- Discipleship Groups – meet in homes on alternate weeks on either a Tuesday or Wednesday during September to May. We had 4 groups meeting during the current session.
## **Volunteers**
The Trustees wish to acknowledge their deep appreciation of those who give freely of their time by serving on committees and helping with organisations and other church activities.
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**RAILWAY STREET PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEES’ ANNUAL REPORT (continued)**
## **PUBLIC BENEFIT STATEMENT**
The Presbyterian Church in Ireland meets the public benefit requirement by providing benefit to its members and the general public by making known the Christian Gospel of the Lord Jesus Christ through the advancement of religion.
The direct benefits which flow from the purposes of the Church include the gaining of an understanding in Christian beliefs as set out in the Bible and in the Church’s subordinate standards (the Westminster Confession of Faith and the Shorter and Larger Catechisms), leading to spiritual and moral development and opportunities for response to Bible teaching. In turn, this framework leads to practical expressions of Christian beliefs and standards in the local community, such as through the care of those in need (including the sick, disabled and bereaved).
Generally, the above benefits are delivered locally by congregations and their members, or are facilitated through presbyteries or are organised and delivered centrally. Local delivery is facilitated by central resources in almost all cases.
Public access is made known through the use of noticeboards, printed material, press advertisement, websites and social media, or in other ways.
The benefits are demonstrated through regular evaluation of the services and informal and ad-hoc feedback from members, their families, and members of the public.
The purpose does not lead to harm. The only private benefit flowing from our purpose is related to Ministers, Missionaries, Deaconesses, Irish Mission workers and Lay Agents who receive benefits as a result of their holding office or employment. However, this is incidental and necessary in order to further our charitable purpose. There are no other private benefits. The beneficiaries of this purpose are members, their families, other individuals that the Presbyterian Church in Ireland is in direct and indirect contact with, the community in which pastoral services are provided and other communities throughout Northern Ireland, the Republic of Ireland, and worldwide which benefit from our engagement with and support for both Christian and other secular organisations, charities and individual members of the public.
The Kirk Session has had regard to the Charity Commission’s public benefit requirement statutory guidance.
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## **RAILWAY STREET PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEES’ ANNUAL REPORT (continued)**
## **FINANCIAL REVIEW**
The congregation’s main source of income is members’ contributions through the Weekly Freewill Offering. There were 237 contributing families during the year (227 in previous year, 2022) donating a total of £128,204 (£111,465 in previous year, 2022). Total Income of the congregation during the year was £340,311 compared to £340,962 in the previous year. Total expenditure decreased to £318,073 in 2023 from £1,145,708 in 2022, reflecting the completion of the Link redevelopment.
## **RESPONSIBILITIES IN RESPECT OF THE FINANCIAL STATEMENTS**
The Trustees are responsible for preparing the Annual Report and the financial statements, in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. The Trustees are required to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the congregation and the financial activities for that year. In preparing the financial statements the Trustees are required to: -
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis, unless it is inappropriate to presume that the Funds will continue in operation.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Funds’ transactions and disclose with reasonable accuracy at any time the financial position of the congregation and enable them to ensure that the financial statements comply with the Statement of Recommended Practice “Accounting and Reporting by Charities (1 January 2015)”. They are also responsible for safeguarding the assets of the congregation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **GOING CONCERN**
The activities of the congregation are dependent on ongoing contributions from its members. The Trustees are of the opinion that the congregation has sufficient resources at the date of approval of these financial statements to meet commitments which will arise in the year from the date of signing this report and subject to the continuing support from members to fund on an ongoing basis the congregation’s current activities and other financial commitments.
## **RESERVES POLICY**
The Trustees have considered the level of unrestricted reserves that it is appropriate to hold, taking account of current and ongoing commitments. It is the aim of the Trustees to increase unrestricted reserves to at least 6 month’s normal expenditure.
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## **RAILWAY STREET PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEES’ ANNUAL REPORT (continued)**
## **RISK REVIEW**
A review of major risks has been undertaken by the Trustees and systems and procedures implemented to manage identified risks. The principal risks are in relation to the likelihood of reputational damage and financial risks associated with the expectation of ongoing financial support from members.
These risks are mitigated by the Trustees, and the Congregational Committee, regularly monitoring the various activities of the congregation at stated meetings and by encouraging members in their regular giving.
Approved by the Kirk Session at a meeting on 5 August 2024 and signed on its behalf by:
_Rev Michael Davidson_
_Stephen Johnston_
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## **RAILWAY STREET PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF RAILWAY STREET CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND**
I report on the accounts for the year ended 31 December 2023 set out on pages 13 to 28.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland) 2008.
It is my responsibility to:
- examine the accounts under Section 65 of the Charities Act
- to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 65(9)(b) of the Charities Act); and
- to state whether particular matters have come to my attention.
## **Basis of the independent examiner's report**
I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general directions given by the Charities Commission for Northern Ireland under section 65(9)(b) of the Charities Act. My examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts and seeking explanations from you as charity trustees concerning any such matters.
My role is to state whether any material matters have come to my attention giving me cause to believe:
1. That accounting records were not kept in accordance with section 63 of the Charities Act
2. That the accounts do not accord with those accounting records
3. That the accounts do not comply with the accounting requirements of the Charities Act
4. That there is further information needed for a proper understanding of the accounts to be reached.
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## **RAILWAY STREET PRESBYTERIAN CHURCH**
## **a Congregation of The Presbyterian Church in Ireland**
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF RAILWAY STREET CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND (cont’d)**
## **Independent examiner's statement**
Since your charity’s gross income exceeds £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of the Institute of Chartered Accountants in Ireland which is one of the listed bodies.
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and in connection with following the Directions of the Charity Commission for Northern Ireland; I have found no matters that require drawing to your attention.
Iain Gillespie 75 Waterloo Road Lisburn BT27 5NW
Date: 5 August 2024
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## **RAILWAY STREET PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland STATEMENT OF FINANCIAL ACTIVITY for the year ended 31 December 2023**
||Notes|Unrestricted
Funds|Restricted
Funds|Endowment|Funds|Total Funds
2023|Total Funds|2022|
|---|---|---|---|---|---|---|---|---|
|||£|£||£|£|£||
|**Income and Endowments from:**|||||||||
|Donatons and legacies|**2**|160,473|99,718||-|260,191||254,741|
|Charitable actvites|**3**|-|68,614||-|68,614||70,194|
|Other trading actvites|**4**|9.724|-||-|9,724||8,484|
|Investments|**5**|125|-||1,108|1,233||1,361|
|Other|**6**|548|-||-|548||6,181|
|||----------|----------||----------|----------||----------|
|Total||170,870|168,332||1,108|340,311||340,962|
|||----------|----------||----------|----------||----------|
|**Expenditure on:**|||||||||
|Raising funds|**7**|-|-||-|-||-|
|Charitable actvites|**8**|181,401|136,646||26|318,073|1,145,708||
|Other|**9**|-|-||-|-||-|
|||----------|----------||----------|----------||----------|
|Total||181,401|136,646||26|318,073|1,145,708||
|||----------|----------||----------|----------||----------|
|**Net gains/(losses) on investments**||-|-||4,713|4,713||(4,665)|
|||-----------|-------------|-------------||----------||----------|
|**Net Income / (expenditure)**|||||||||
|Transfers between funds||554|529||(1,083)|-||-|
|||-----------|-------------|-------------||----------||----------|
|**Net movement in funds**||(9,977)|32,215||4,712|26,951|(809,411)||
|**Total funds brought forward**||(9,983)|(556,519)||52,086|(514,416)||294,995|
|||-------------|----------||----------|-------------|-------------||
|**Total funds carried forward**||(19,960)|(524,304)||56,798|(487,465)|(514,416)||
|||========|======||======|========|========||
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## **RAILWAY STREET PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland BALANCE SHEET**
## **As at 31 December 2023**
||Notes|Unrestricted|Funds|Restricted Funds|Endowment
Funds|Total Funds 2023|Total Funds 2022|
|---|---|---|---|---|---|---|---|
||||**£**|**£**|**£**|**£**|**£**|
|**Fixed assets:**||||||||
|Tangible assets|**12**||-|-|-|-|-|
|Investments|||-|-|-|-|-|
|||-------------||----------|---------|-------------|--------------|
|**Total fxed assets**|||-|-|-|-|-|
|||-------------||----------|---------|-------------|--------------|
|**Current assets**||||||||
|Current investments|**13**||-|-|56,799|56,799|52,086|
|Debtors|**14**||-|-|-|-|-|
|Cash at bank and in hand|**15**|(19,961)||77,530|-|57,569|43,180|
||||----------|----------|---------|----------|----------|
|**Total current assets**||(19,961)||77,530|56,799|114,368|95,266|
||||----------|----------|---------|----------|----------|
|**Liabilites:**||||||||
|Creditors: Amounts falling due within|**16**||601,833|-|-|611,803|609,682|
|one year||||||||
||||----------|----------|---------|-----------|----------|
|**Net current assets**||(621,794)||77,530|56,799|(487,465)|(514,416)|
||||----------|----------|---------|------------|-------------|
|**Total assets less current liabilites**||(621,794)||77,530|56,799|(487,465)|(514,416)|
|Creditors: Amounts falling due afer|**17**||-|-|-|-|-|
|more than one year||||||||
|||-------------||----------|---------|-------------|-------------|
|**Total net assets**||(621,794)||77,530|56,799|(487,465)|(514,416)|
|||-------------||----------|---------|-------------|--------------|
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## **RAILWAY STREET PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland BALANCE SHEET (Continued)**
## **As at 31 December 2023**
|**BALANCE SHEET (Contnued)**
**As at 31 December 2023**||||
|---|---|---|---|
||Notes|Total Funds 2023|Total Funds 2022|
|||**£**|**£**|
|**Funds of the charity**||||
|Endowment Funds|**18**|56,799|52,086|
|Restricted income funds|**18**|77,530|53,163|
|Unrestricted funds|**18**|(621,794)|(619,665)|
|||--------------|-------------|
|**Total charity funds**||(487,465)|(514,416)|
|||--------------|-------------|
Approved by the Kirk Session at a meeting on 5 August 2024 and signed on its behalf by
## _Rev Michael Davidson_
_Stephen Johnston_
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**RAILWAY STREET 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 Republic of 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.
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## **RAILWAY STREET PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS**
## **31 December 2023**
## **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 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 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.
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## **RAILWAY STREET PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS 31 December 2023**
## **1. ACCOUNTING POLICIES (cont’d)**
## **(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.
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## **RAILWAY STREET PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS 31 December 2023**
## **1. ACCOUNTING POLICIES (cont’d)**
## **(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
## **(xv) Support costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, e.g. allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
## **ASSETS**
## **(xvi) Tangible Fixed Assets**
Tangible fixed assets for use by the 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, ftngs and equipment|- over 10 years|
|Motor Vehicles|- over 4 years|
|Computers, sofware and technical equipment|- over 4 years|
## (xvii) **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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## **RAILWAY STREET PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont’d)**
**31 December 2023**
## **2. DONATIONS AND LEGACIES**
||Unrestricted
Funds|Restricted
Funds|Total Funds
2023|Total Funds
2022|
|---|---|---|---|---|
||£|£|£|£|
|Recorded giving:|||||
|Freewill ofering|128,204|79,091|207,295|200,499|
|Loose collectons|1,834|-|1,834|1,641|
|Donatons and gifs|63|380|443|2,860|
|Gif Aid|30,372|20,247|50,619|49,741|
||-----------|----------|-----------|-----------|
||160,463|99,718|260,192|254,752|
||-----------|----------|-----------|----------|
|**3. CHARITABLE ACTIVITIES**|||||
||Unrestricted
Funds|Restricted
Funds|Total Funds
2023|Total Funds
2022|
||£|£|£|£|
|Income from charitable actvites|-|68,614|68,614|70,194|
|Fees from weddings, funerals, etc.|-|-|-|-|
||----------|----------|----------|----------|
||-|68,614|68,614|70,194|
||----------|----------|----------|----------|
20 **|** P a g e
## **RAILWAY STREET PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont’d)**
## **31 December 2023**
## **4. OTHER TRADING ACTIVITIES**
**----- Start of picture text -----**
£ £ £ £
-
Letting of car park and halls 9,724 9,724 8,484
- - - -
Property rents
---------- ---------- ---------- ----------
-
9,724 9,724 8,484
---------- ---------- ---------- ----------
5. INVESTMENTS
£ £ £ £
Deposit interest 125 - 125 210
General Investment Fund - 1,108 1,108 1,151
---------- ---------- ---------- ----------
125 1,108 1,233 1,361
---------- ---------- ---------- ----------
6. OTHER INCOME
£ £ £ £
Other income 548 - 548 6,181
---------- ---------- ---------- ----------
548 - 548 6,181
---------- ---------- ---------- ----------
Unrestricted Funds Restricted Funds Total Funds 2023 Total Funds 2022
Unrestricted Funds Endowment Funds Total Funds 2023 Total Funds 2022
Unrestricted Funds Restricted Funds Total Funds 2023 Total Funds 2022
**----- End of picture text -----**
21 **|** P a g e
**RAILWAY STREET PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont’d)**
**31 December 2023**
## **7. RAISING FUNDS**
||Unrestricted
Funds|Restricted
Funds|Total Funds
2023|Total Funds|2022|
|---|---|---|---|---|---|
||£|£|£||£|
|FWO envelopes|-|-|-||-|
||----------|----------|----------|----------||
||-|-|-||-|
||----------|----------|----------|----------||
|**8.**
**CHARITABLE ACTIVITIES**||||||
||Unrestricted
Funds|Restricted
Funds|Total Funds
2023|Total Funds|2022|
||£|£|£||£|
|General Assembly Assessments|14,673|-|14,673||14,374|
|Presbytery fees|1,125|-|1,125||1,081|
|Ministry and support staf costs|116,589|-|116,589|110,458||
|Congregatonal running expenses|46,714|72,060|118,774|950,149||
|Donatons to missions and|2,300|64,612|64,612||69,646|
|charites||||||
|Governance costs|-|-|-||-|
||----------|----------|----------||----------|
||181,401|136,672|318,073|1,145,708||
||----------|----------|----------||----------|
22 **|** P a g e
**RAILWAY STREET PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont’d) 31 December 2023**
## **9. OTHER EXPENDITURE**
|||Unrestricted|Funds|Restricted|Funds|Total Funds|2023|Total Funds
2022|||
|---|---|---|---|---|---|---|---|---|---|---|
||||£||£||£|£|||
|Investment propertes expenditure|||-||-||-|-|||
|||----------||----------||----------||----------|||
||||-||-||-|-|||
|||----------||----------||----------||----------|||
|**10.**|**EMPLOYEES**||||||||||
|**Employment Costs**|||||||||||
|||||||||Total Funds
2023|Total Funds|2022|
|||||||||£||£|
|Wages and salaries||||||||94,057|89,340||
|Social|security costs|||||||6,672||6,431|
|Pension contributons||||||||14,059|12,887||
|||||||||----------|----------||
|||||||||114,788|108,658||
|||||||||----------|----------||
## **Number of Employees**
The average number of employees, including the minister of the congregation, during the year was:
||2023|2022|
|---|---|---|
|Average number of employees|6|7|
||----------|----------|
There were no employees in receipt of employee benefits in excess of £60,000.
23 **|** P a g e
## **RAILWAY STREET PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont’d) 31 December 2023**
## **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:
Minister Deaconess
**----- Start of picture text -----**
£ £
10,329 9,837
3,281 3,050
---------- ----------
2023 2022
**----- End of picture text -----**
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:
£ £ Contributions 449 - -------------------
24 **|** P a g e
## **RAILWAY STREET PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont’d)**
## **31 December 2023**
## **12. TANGIBLE FIXED ASSETS**
||Land &|Buildings|Equipment|Fixtures and|Fitngs|Total|
|---|---|---|---|---|---|---|
|||£|£||£|£|
|**Cost or valuaton**|||||||
|At start of year||-|-||-|-|
|Additons||-|-||-|-|
|Disposals||-|-||-|-|
||-------------||-----------|----------||-------------|
|At end of year||-|-||-|-|
||-------------||-----------|----------||-------------|
|**Depreciaton**|||||||
|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**
||2023|2022|
|---|---|---|
||£|£|
|At start of year|52,086|56,751|
|Additons (disposals)|-|-|
|Revaluaton|4,713|(4,665)|
||-----------|-----------|
|At end of year|56,799|52,086|
||-----------|----------|
25 **|** P a g e
## **RAILWAY STREET PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont’d)**
**31 December 2023**
|**14.**|**DEBTORS**|||
|---|---|---|---|
|||2023|2022|
|||£|£|
|Gif aid recoverable||-|-|
|Prepayments and other debtors||-|-|
|||----------|----------|
|||-|-|
|||======|======|
|**15.**|**CASH AT BANK AND IN HAND**|||
|||2023|2022|
|||£|£|
|Bank|accounts|57,569|43,180|
|Cash|in hand|-|-|
|||----------|----------|
|||57,569|43,180|
|||======|======|
|**16.**|**CREDITORS: amount falling due within one year**|||
|||2023|2022|
|||£|£|
|Other creditors and accruals||-|-|
|Bank|loans and overdrafs|601,833|619,665|
|||----------|----------|
|||601,833|619,665|
|||======|======|
26 **|** P a g e
## **RAILWAY STREET PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont’d)**
## **31 December 2023**
## **17. CREDITORS: amount falling due after more than one year**
|||||2023|2022||
|---|---|---|---|---|---|---|
|||||£|£||
|Bank loan||||-|-||
|||||------------|------------||
|||||-|-||
|||||=======|=======||
|**18.**
**FUND BALANCES AND RECONCILIATION OF FUNDS**|||||||
||Opening|||Gains/Losses|Transfer|Closing|
||balance||Expend.|on||balance|
|||Income||revaluaton|||
||£|£
|£|£|£|£|
|**Unrestricted Funds**|||||||
|General Fund|(9,983)|170,869|181,401|-|554|(19,961)|
||-------------|------------|------------|------------|------------|------------|
||(9,983)|170,869|181,401|-|554|(19,961)|
||-------------|------------|------------|------------|------------|------------|
|**Restricted Funds**|||||||
|Property / Building|40,971|99,719|10,396|-|(68,837)|61,457|
|Mission & Charites|-|25,911|25,990|-|79|-|
|Presbyterian Women|954|4,894|5,031|-|-|817|
|Indoor Bowling Club|1,914|-|-|-|-|1,914|
|422 Club|848|677|637|-|(200)|688|
|Youth Club|328|-|245|-|-|83|
|Youth Council|803|3,000|1,389|-|-|2,414|
|1st Lisburn Boys’ Brigade|3,726|16,513|14,186|-|-|6,053|
|Girls’ Brigade|3,559|5,906|5,878|-|-|3,578|
|Ganaway Camp|60|11,713|11,256|-|-|517|
||-------------|------------|------------|------------|------------|------------|
||53,163|168,333|75,008|-|(68,958)|77,530|
||-------------|------------|------------|------------|------------|------------|
|**Endowment Funds**|||||||
|Endowment Fund|-|1,108|25|-|(1,083)|-|
|Investment Fund|52,086|-|-|4,713|-|56,799|
||-----------|-----------|-----------|-----------|-----------|-----------|
||52,086|1,108|25|4,713|(1,083)|56,799|
||-----------|-----------|-----------|-----------|-----------|-----------|
|Total|(514,416)|340,310|318,072|4,713|-|(487,465)|
||------------|-----------|------------|-----------|-----------|------------|
27 **|** P a g e
## **RAILWAY STREET PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont’d)**
**31 December 2023**
## **19. RELATED PARTY TRANSACTIONS**
One of the trustees, the minister of the congregation, received remuneration of £43,037 and expenses of £6,701 for acting in their capacity. Pension contributions of £10,329 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:
£14,673 for congregational assessments
- £13,624 towards the United Appeal
The congregation contributed £1,125 towards Presbytery Assessments during the year. There were no other related party transactions.
28 **|** P a g e