SEAFORDE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the year ended 31 December 2022
| Note | Unrestricted Restricted Endowment |
Unrestricted Restricted Endowment |
Unrestricted Restricted Endowment |
Unrestricted Restricted Endowment |
Total | Total | ||
|---|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | 2022 | 2021 | ||||
| £ | £ | £ | £ | £ | ||||
| Receipts | ||||||||
| Donations and legacies | 2 | 11,679 | 32,596 | 0 | 44,275 | 46,928 | ||
| Investment Income | 3 | 326 | 0 | 0 | 326 | 310 | ||
| Other income | 4 | 1,229 | 3,775 | 0 | 5,004 | 3,940 | ||
| Total Receipts | 13,234 | 36,371 | 0 | 49,605 | 51,178 | |||
| Payments | ||||||||
| Raising funds | 5 | 0 | 0 | 0 | 0 | 0 | ||
| Charitable activities | 6 | (8,768) | (25,823) | 0 (34,591) (26,648) |
||||
| Other | 7 | (0) (16,256) |
0 (16,256) |
(1,775) | ||||
| Total Payments | (8,768) | (42,079) | 0 (50,847) (28,423) |
|||||
| Net receipts / (payments) | 4,466 | (5,708) | 0 |
(1,242) | 22,755 | |||
| Transfers between funds | 0 | (0) | 0 | 0 | 0 | |||
| Net movement in funds | 4,466 | (5,708) | 0 | (1,242) | 22,755 | |||
| Funds brought forward | 122,108 | 19,210 | 0 | 141,318 | 118,563 | |||
| Funds carried forward | 10 |
126,574 | 13,502 | 0 140,076 |
141,318 | |||
| ====== | ====== | ====== | ====== | ====== |
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SEAFORDE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF ASSETS AND LIABILITIES As at 31 December 2022
| As at 31 December 2022 | ||||||
|---|---|---|---|---|---|---|
| Unrestricted Restricted Endowment |
Total | Total Funds | ||||
| Funds | Funds | Funds | 2022 | 2021 | ||
| £ | £ | £ | £ | £ | ||
| Funds Reconciliation | ||||||
| Bank and Cash at start of year | 122,574 | 19,210 | 0 141,318 | 118,563 | ||
| Net movement in funds | 4,466 | (5,708) | 0 | (1,242) | 22,755 | |
| Bank and Cash at end of year | 126,574 | 13,502 | 0 140,076 |
141,318 | ||
| ======= ======= ======= ======= |
======= | |||||
| Bank & Cash Balances | ||||||
| Bank Deposit Accounts | 0 | 0 | ||||
| Bank Current Accounts | 140,076 | 143,318 | ||||
| Cash in Hand | 0 | 0 | ||||
| 140,076 | 143,318 | |||||
| ======= ======= |
||||||
| Other Assets | ||||||
| Fixtures, Fittings & Equipment – | 0 | 0 | ||||
| Note 8 | ||||||
| Investments – Note 9 | 24,166 | 24,166 | ||||
| 24,166 | 24,166 | |||||
| ======= ======= |
||||||
| Liabilities | ||||||
| Loans | 0 | 0 | ||||
| Other | 0 | 0 | ||||
| 0 | 0 | |||||
| ======= ======= |
Approved by the Kirk Session at a meeting on 10 July 2022 and signed on its behalf by
Rev. D Bingham
Mr. D Croskery
08/04/2023
08/04/2023
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SEAFORDE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2022
1. ACCOUNTING POLICIES
BASIS OF FINANCIAL STATEMENTS
As the total income of the congregation is less than £250,000, the congregation has elected, in accordance with the provisions in The Charities (Accounts and Reports Regulations (Northern Ireland) 2015 to prepare its accounts on a receipts and payments basis.
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 that 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.
2. DONATIONS AND LEGACIES
| Unrestricted Restricted Endowment Total |
Unrestricted Restricted Endowment Total |
Unrestricted Restricted Endowment Total |
Total | |
|---|---|---|---|---|
| Funds | Funds | Funds 2021 |
2020 | |
| £ | £ | £ £ |
£ | |
| Recorded giving: | ||||
| Loose collections | 3,690 | 0 | 0 3,690 |
2,566 |
| Donations and gifts | 0 | 32,596 | 0 32,596 |
28,290 |
| Gift Aid | 7,989 | 0 | 0 7,989 |
16,072 |
| Legacies and bequest | 0 | 0 | 0 0 |
0 |
| 11,679 | 32,596 | 0 44,275 |
46,928 |
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SEAFORDE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2022
3. INVESTMENT INCOME
| Unrestricted Restricted Endowment Total |
Unrestricted Restricted Endowment Total |
Unrestricted Restricted Endowment Total |
Total | |
|---|---|---|---|---|
| Funds | Funds | Funds 2022 |
2021 | |
| £ | £ | £ £ |
£ | |
| Deposit interest | 326 | 0 | 0 326 |
310 |
| General Investment Fund | 0 | 0 | 0 0 |
0 |
| 326 | 0 | 0 326 |
310 |
4. OTHER INCOME
| Unrestricted | Unrestricted | Restricted | Restricted | Endowment | Endowment | Total | Total | ||
|---|---|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | 2022 | 2021 | |||||
| £ | £ | £ | £ | ||||||
| £ | |||||||||
| Other | income | 1,229 | 3,775 | 0 | 5,004 | 3,940 | |||
| 1,229 | 3,775 | 0 | 5,004 | 3,940 | |||||
| 5. | RAISING FUNDS | ||||||||
| Unrestricted | Restricted | Endowment | Total | Total | |||||
| Funds | Funds | Funds | 2022 | 2021 | |||||
| £ | £ | £ | £ | £ | |||||
| FWO envelopes | 0 | 0 | 0 | 0 | 0 | ||||
| 0 | 0 | 0 | 0 | 0 |
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SEAFORDE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d)
31 December 2022
6. CHARITABLE ACTIVITIES
| Unrestricted | Restricted | Endowment | Total | Total | |||
|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | 2022 | 2021 | |||
| £ | £ | £ | £ | £ | |||
| General Assembly Assessments | 0 | (6,008) | 0 | (6,008) | (4,664) | ||
| Presbytery fees | (0) | 0 |
0 | 0 | (0) | ||
| Ministry and support staff costs | (0) | (4,463) | 0 |
(4,463) | (2,528) | ||
| Congregational running expenses | (8,768) | (2,622) | 0 |
(11,390) | (6,831) | ||
| Donations to Missions and charities | 0 | (12,730) | 0 |
(12,730) | (12,625) |
||
| (8,768) | (25,823) | 0 | (34,591) | (26,648) | |||
| 7. | OTHER EXPENDITURE | ||||||
| Unrestricted | Restricted | Endowment | Total | Total | |||
| Funds | Funds | Funds | 2022 | 2021 | |||
| £ | £ | £ | £ | £ | |||
| Equipment & Property repairs | (0) | (16,256) | 0 |
(16,256) | (1,775) | ||
| (0) | (16,256) | 0 |
(16,256) |
(1,775) |
8. FIXED ASSETS
The congregation owns the Church premises situated at Demesne Road, Seaforde, and the associated fixtures, fittings, and equipment. However, they do not own the land on which the buildings sit. This ground is subject to a lease agreement. Therefore, no value has been attributed to the premises. The cost of fixtures, fittings, and equipment has been expensed in the year in which the cost was incurred.
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SEAFORDE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d)
31 December 2022
9. INVESTMENTS
The congregation has the following investments. Amounts are shown at market valuation.
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| 2081 | shares in General Investment | 24,166 | 24,166 |
| Fund | of PCI | ||
| 24,166 | 24,166 |
10. FUND BALANCES
| Fund | Balance | Receipts Payment |
Receipts Payment |
Surplus / | Transfer | Balance |
|---|---|---|---|---|---|---|
| at start | (Deficit) | at end | ||||
| £ | £ | £ | £ | £ | £ | |
| Unrestricted Funds | ||||||
| General Fund | 130,104 | 13,234 | (8,768) 4,466 |
(7.996) | 126,574 | |
| 104109,52 4 |
||||||
| 130,104 | 13,234 | (8,768) 4,466 |
(7,996) | |||
| Restricted Funds | ||||||
| Missions Fund | 0.00 | 12,730 | (12,730) 0 |
0 | 0 | |
| Stipend & CMF | 0.00 | 6,169 | (10,471) | (4,302) | 4.302 | 0 |
| Building Fund | 11,214 | 3,775 | (0) 3,775 |
(1,487) | 13,502 | |
| Other | 0 | 13,697 |
(18,878) | (5,181) | 5,181 | 0 |
| 0 | ||||||
| 11,214 | 36,371 | (42,079) 5,506 |
7.996 | 13,502 | ||
| Endowment Funds | ||||||
| NIL | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 141,318 | 51,178 | (28,423) 22,755 |
0 | 140,076 |
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