Presbyter an Greenwell Street Presbyterian Church a congre8ation of the Presbyterian Church in Ireland Trustees Annual Report and Flnancial Statements for the year ended 31 December 2023 fteg15ter•d wlth the Char5ty Commlsslon for Northeyn l¥eland 105225
Presbyter rHUllCTrL an GREENWELL STREET PRESBrfeRIAN CHURCH 4 Con8regat4on of The Presbyterlan Church In brÈland SfATeMENT OF FINANCIAL Acrivi lor the year ended 31 DecembÈr 2023 Incomè and Endowments from: Donatlons and legacles Chèrltable activltles Investments Other 212,866 1,363 360 6,137 121,253 29.3?4 43 334, 119 30,737 403 6,137 341,533 28,240 319 230 Total 220,726 150,670 371,396 370,322 Expendlturè on; Raisin8 funds Charitablè èctlvltles 1,385 257,099 1,385 371,928 1,522 333,634 114,829 Total 258,484 114,829 373,313 335,156 Net Income l {expèndltur•) (37,758) 35,841 [1,917) 35,166 Transfers between funds (6. 137} 6.137 Net movement In funds Reconciliation of funds: Total funds brought forward {43,895> 41.978 (1,917) 35,166 1,504,748 99,050 1.603,798 1,568.632 Total funds ¢arrlèd forward 1,460,853 141,028 1,601,881 1,603,798 rLIBI*=2 10
Presbyter an GREENWELL STREET PRESBVTERIAN CHURCH a Congre8ètlon of The PrÉsbyterlan Church In Ireland BALANCE SHEET As at 31 December 2023 Flxed assets: Tangible asset5 10 1,387,224 1,387.224 1,423.064 Total flx8d assetg 1,387,224 1,387.224 1,423,064 Current a55ets Oebtors 22,852 58.588 9.279 32.131 Cash at bank and In hand 17,988 170,179 12 131,749 190, 337 Total Current •ssot$ 81,440 141,028 222,468 188,167 Llablfltles: Credltors: Amounts f8lllnE due wbthln one year 13 (7,811) (7,811) (7,433) Net current assets or Ilabililles 73,629 141,028 214.657 180,734 Total asset 5 less turrent Ilabllltles L,460,853 141.028 1,601,881 1.603,798 Creditors: Athounts fallFn8 due after rnore than one year Total net assets or I labllltlés 1,460,853 141,028 1,601,881 1,603,798 11
Presbyter an GREENWELL STREET PRESBrrERIAN CHURCH I Con8r¢8atlon of The Presbyterlan Church In Ireland BALANCE SHEET As at 31 December 2023 Fund$ of the charlty Rèstrlcted kncome funds Unrestrlcted funds 14 141,028 99,050 14 1.460,853 1,504, 748 Totsi charlty fund5 1,601,881 1,603,798 Approved by the Klrk Sesslon and $18ned on Its behalf bv Mr. D. Fr lerk) Mr, P. Ritch1¢ (Trustee) 5 June 2024 5 June 2024 12
Presbyter an GREENWELL STREEf PRESBYTERIAN CHURCH a Ctsngregatlon of The Prè5byterlan Church In Ireland NOTES TO THE ACCOUNTS 31 Oecember 2023 ACCOUNTING POLtClES ÈAS15 OF FINANCIAL STATEMENTS The flnanclal staternent5 have been prepared In accordante wlth Accounting a nd Reportln8 by Charitles: Statement of Recommended Practlce appllcable to ¢harltles preparing their accounts In accordance wlth Financlal Reportlng Standard app15c8ble in the UK and Ireland [FRS102) (effectlve l January 2015>, The financlal statements have been prepared under the hlstorical cost conventlon except for Investment a55etS, whlch are shown at market V81ue. The flnanclal staternents Include all transactions, assets and liabllltles for which the congre8ation 15 responslble In law. They do not Include the accounts of church 8YOUPS that owe thelr affillation to another body, nor those that are informal gathÈrln8s of church members, FUND ACCOUNTING Endowment funds are fLands, the capltal of which must be retalned elther permanently or at the congregatlon'5 dlscretlon; the income derlved from the endowment Is to be k4sed either as restricted or unrestrfrted Income funds depending upofi the purpose for which the endowment wa5 establlshed In the first place. Restricted fund5 compr15e {a ) Incorne from endowments wh ich Is to be expended only on the restrlctÈd purposes Intended by the donor and Ib) revenue donatlons or grants for a specSflc con8regational act5vlty Intended by the dgnor. Where these funds have ungpent balances, interest on thelr pooled Investmentls apportiorled to the Indlvldual funds on a verage balance basls. Unre5trlcted fund5 are Incorne fund5 which are to be spent on the congre8atSon's general purposes. Deslgnated funds are 8eneral funds set aslde by the congregatlon for use In the future. 13
an GREENWELL STREEf PRESBYfERIAN CHURCH a Con8regatlon of The PresbtrlaD Church In Ireland NOIES TO THE ACCOUNTS 31 December 2023 ACCOUNTING POLICIES(conVd) NCOMING RÉSOURCES (l) Recognltlon of In¢omln8 resources These are In¢lvded in the Statement of Flnancial Activitles (5oFA) when; the cangre8atiDn be¢ornes entitled to the resources. the trustèes are vlrtually ¢ertaln they wlll receive the resources; an the monetary vèlue can be measured wlth 5ufticient rellably, {11) Intomln8 resourcès wlth r¢lated •xpendlture Where Sncomlng resources have related expendlture (è5 With fu.ndralsln8 income) the Incomlng resources and related expendltufè are reported Bross in the SOFA. 1111) Grant5 and donatlon5 Grants and donatlons are only included In the SOFA when the con8regation has unconditlonal entltlement to the resources. (Iv) Tè¥ recl?Ims on donitlons and glfts Incombn8 resources from tsx reclalms are Included the SOFA at the same time as the 81ft to whlch they relate. {¥> Contractual Income and performance related grants Thls is only bncluded In the SOFA once the related goods or services have been delivered. (vl) Glfts lrt klnd Glfts In klnd are accounted for at a reasonable e5tlrnate of their value to the charSty or the amount actually realised. Glfts In kind for v5e by the charity are included in the SOFA as Incornln8 resources when rècelvable. 14
Presbyter an, GREENWELL STREET PRES8YTERIAN CHURCH a Congregatlon ol The Presbyterlan Church In Ireland NOTES TO THE ACCOUNTS 31 December 2023 ACCOUNTING POLICIES {conVd) {vll ) Donaied servlces and facllltles These are only included In Incomlng resources (with an equivalent amount In resources expended) where the beneflt to the charlty Is reasonably quantiflable, measurable and material. The value placed on these resources Is the estlmated value to the eharlty of the service or facl Ilty recelved. (vill) Voluntoer help The value tsf any voluntary help recelved is not Includ@d In the accounts but Is destrlbed In the trustèes, annual report. (Ix) Investment l*)COme Thls is Included In the acctsunts when reTrivab1e. EXPENDITURE AND LIABILITIES {x? Llablllty reco8nltlon L5abllitle5 are recogni5ed as soon as there Is a legal Or constructSve obll8ation commlttlng the congregatlon to pay out resources. Ixl) Gov¢rnante costs These are shown wlthln charitable attivltSes 8nd fnclude the costs of preparatlon and examinatlon of accounts, the costs of trustee meetlngs and cost of any le8al advlce to trustees on 8overnance or constitutional matter5. (xll) Grznts wlth performance condltlons Where the charlty 8lves a grant with condlt5ons for Its payrnent belng a speclfic level of servlce Of output to be provlded, such grants are only recognb5ed In the SOFA once the reclplent of the 8fant has provlded the 5peclfled servlce or output. 15
Presbyter VLI IhEL&Iu an GREENWELL STREET PRESBYTERIAN CMURCH Congre8atlon of The Pre5byterlan Church In Ireland NOTES TO THE ACCOUNTS 31 December 2023 ACCOUNTING POLICIES (cont'd) {xlll) Grants payable wlthout performance condltlons These are only retO8nlsed In the accounts when a comrnltment has been made and there are no conditlons to be Met relatln8 to the grant whlch remaln In the control of thÈ charltv. ASSETS {xlv) Tanglble Flxed Assets Tang4ble flxed assets for Use by charlty are capltali5ed If they can be used for rnore than one vear, and cost at least £2,500. They are valued at cost or, If 8ifted, at the value to the charltv on recelpt. DepreclatSon Is recorded on all tanglble fsxed assets other than freehold land, at rates calculated to wrlte of the cost, less estlmèted resldval value, of each asset over Its expected usef ul Ilf e as fol lows BuSldlngs: F5Mtv res, f Itt in 8$ an d equlpme nt Motor Vehlcles Cornputers, software and techr71cal equlpment - over SO years - over 10 years over 4 years - over 4 year5 16
Presbyter an GREENWELL STRE PRESBYfERIAN CHURCH a Con8r¢gatlon of The Pre5byterlan Church In Ireland NOTES TO THE ACCOUNTS Iconvd) 31 Dernber 2023 DONATIONSAND LEGACIES flecorded 8lvlng: FWO I005e colle¢tlons Donatlons and Bifts Gift Ald Le8acle5 and bequest 176,158 2,795 40 25,997 7,876 80,679 2,807 20.951 13.841 2,975 256,837 5,602 20,991 39,838 10,851 266.232 10.811 22,367 42.123 212,866 121,253 334,119 341,533 CHAIIITABLE AcfivJTIE5 Income from charitable activitles Organis8tSon Income 27,974 27,974 26,704 Contrlbutlons and events Grants 1,363 1,363 1,400 971 565 1,400 1,363 29.374 30,737 28.240 17
Presbyter i iry lryi L an GREENWELL STREET PREsBYfERIAN CHURCH a Congre8atlon of The Presbylerlan Church In Ireland NOTES TQ THE ACCOUNTS (tonl'dj 31 December 2023 t14VESTMENYS Bank Intèrest 360 43 403 319 360 43 403 319 OTHER INCOME Other Income Dlscounts 545 5,592 545 5,592 230 6,137 6,137 230 18
Presbyter an GREENWELL STREFf PRESBYfERIAN CHURCH CongregatloTr of The Presbyterlan Church In Ireland NOTES TO THE ACCOUNTS (tont'd) 31 December 2023 RAISING FUNDS FWO envelope5 1,385 1,385 1,522 1,385 1,385 1.522 CHARITABLE ACTIVITIES fjeneral Assembly Assessments Presbytery fees Mlnlstry and support staff cost5 Congregatlonal runnln8 expenses Donatlons to MIssiOns and cha rltles Governance costs 17,579 1,117 150,836 85,548 17,579 1.117 150,836 98,681 18,626 1,000 139,754 111,557 13,133 225 101,696 101,921 61,027 1,794 1.794 1,670 257,099 114,829 371,928 333,634 19
Presbyter an GREENWELL 5TREft PRESBYfERIAN CHURCH ¥ Congre6atlon of The Presbyterlan Church In Ireland NOTES ro THE ACCOUNTS (cont'dj 31 Detember 2023 EMPLOYEES Employment Costs Wages and Salarles So¢lal Security Costs Pension contrlbutions 113,338 9,931 9,250 100,919 9.537 16,596 132,519 127,052 Numbèr of Employees The avera8e number of employees, IncludlThg the mlnlster of the con8regatlon, durlng the year was 2023 2022 Average nL*mber of employees There were no employees ln receipt of employee benefits In excess of £60,000. 20
Presbyter an GAEENWELL STREET PRESBYfERIAN CHURC a Con8reg?tlon of The Presbyterlan Church In Ireland NOTES TO THE ACCOUNTS {conYdl 31 Decembèr 2023 PENSION COSTS The minlster of the con8re8atSon Is a member of the Presbyterlan Church In Ireland Penslon Scheme (2009). Thls is a scheme operated by the Presbyterian Church In Ireland. a separate registered charity. The congregatlon pays an assessment to the Presbyterlan Church i n Irela nd equlvalent to the employer's pÈnsSon contrlbutlon for the Scheme and based on thè stlpend paid to the mlnister, The Presbyterian Church sn Ireland Pension Scheme [2009) 15 a fvnded Scheme of the deflned beneflt type, providln8 deflned benefits based on career average revalued salary. The Scheme has assets held In a separately adminlstered fund managed by a board of trustees. The Presbyterlan Church and the Scherne Trkjstees have agreed a fund Ing plan to ensure the Scheme 15 sufficiently funded to meèt current and futLJre obllgatlons. A lormal schedule of contrlbutlons was drawn up on 25 Novernber 2015 whereby the Presbyterlan Church agreed to pay from 31 Oecernber 2015 contrlbutlons of 24% of pen51onable salarles to Cover the accrual of benefits for future service, expenses, the cost of Insurlng death In servlce beneflts and fundlng the scheme deflclt. The contrlbutlons rnade by the congreBatlon during the year V4ere: Total Funds 2023 Total FLJnds 2022 Contrlbutlons 2,555 10,219 21
an GREENWELL STREEf PRESBYTERIAN CHURCH a Conire8atlon of The Piesbyterlan Church In Ireland NOTES TO ThE ACCOUNTS Icont'd) 31 December 2023 10. TANGI8LE FIXED ASSETS Land and Bulldlngs Flxtures and Flttin85 VehScle5 Tota I Cost or vpluatlon At start of year Additlons Dlsposals 1,550,000 93,202 4,000 1,647,202 At end of year 1,550,000 93,202 4,000 1,647.202 Depwclatlon At start of year Provislon for year Disposals 168,000 24,000 52,138 11,840 4.)0 224,138 35,840 At end of year 192,000 63,978 4,IxJo 259,978 Net Book Valut At start of year 1,382,000 41,064 1,423.064 At end of yeèr 1,358.000 29,224 1,387,224 11. DEBTORS Gift Aid Recoverable Prepayrnents Other Oebtors 2023 20,972 IG,351 848 2022 9,964 8,024 32,171 17,988 22
Presbyter an GREENWELL STREET PRESBYTERIAN CHURCH ¢on8regatlon of The Presbyterlan chu.rth In Ireland NOTÉS TO THE ACCOUNTS Icont'd) 31 December 2023 12. CASH AT BANK AND IN HAND Bank accounts Cash In hand 2023 184,373 5,964 2022 168,445 1,734 190,337 170,179 SllEz 13. CAÈDITORS: amouni falllng duè wlth5n on• year Other creditors Accruals 2023 1,563 6,248 2022 184 7,249 7.811 7,433 23
Presbyter an GREENWELL STREET PREseYrERIAN CHURCH a Congregatlon of The Presby1erlan Churth In Irèland NOTES TO THE ACCOUNTS Icont'd) 31 December 2023 14. FLJND BALANCES AND HECONCIIIATION OF FUNDS Fund 8alance at Income start Expend. Transfer Balance at end Unrè5trl¢ted Funds General Fund 1,504,748 220,726 (258,484) {6.137) 1,460,853 1,504,748 220,726 (258,484) (6,137} 1.460,853 Restrltted Funds Property Fund M1551onary Fund Sund$y School BadmSnton Club 8owllng Club 8oy5' 8rigade Chai & Hobby Huddle G Irls, Bri8ade Uganda Wells Project Malnly for Men Mal4wl Outreach Presbyterian Women ReTrdeivous Lunch Club Wednesdèy Club Women'5 Meetln8 Youth Club Speclèl Colle¢tlons 51.694 25,649 617 3,748 1,303 3,116 113 1.28S 7,229 119 41 52 327 126 349 907 1,423 952 51,680 59.743 S95 8,S05 214 1,675 1,694 3.787 6,090 1,226 (12,705) (60.522) (215) (7,838) (134) 12,397) 11.43 7) 14,707) 16,570) (545) so 1,368 (249> 90,719 26,238 748 4,415 1,283 2,094 270 365 6,889 800 (100) (300> (100) 140 (44) 1,750 81 2.390 11,883) 11,948) (9) (980) (337) 11,597) (11,005) 769 (117) 1220) 623) 1,188 53 1,894 9,852 337 1,720 4.381 4,582 99,050 150,670 (114,829) 6,137 141,028 1,603,798 371,396 (373,313) 1.601,881 24
Presbyter an GREENWELL STREEf PRESBYfERIAN CHURCH Congre8atbon of The Presbyterlan Church In Ireland NOTES TO THE ACCOUNTS Icont'd) 31 December 2023 15. RELATED PARTr TRANSACTIONS Two of the Trustees, the mlnlster and the caretaker (retlred January 2023) of the congregatlon, received remuneration of £45,561 and expense5 of £6,701 for acting In that capaclty, Penslon contrlb4Jtions of £2,555 were pald t>y the con8regation in respect of the minlster to the Presbyterian Church In Ireland Penslon Scheme (2009). None of the other trustees recelved elther remuneratbon or expenses durLnÉ the year In connettion wlth thelr dutles. Durlng the year the congregatlon contrlbuted the foSlowin8 amounts to Fund5 of the General Assembly of the Presbyterlan Church In Ir¢land a separate charlty: E17,579 lor congregatlonal assessments £17,930 towa rds the Unlted Appeal £2,400 towards the Wtsrld Development Appeal £1,600 towards the Presbyterlan Chlldren's Soclety The con8regatiOn contributed £1,117 toward5 Presbytery Assessments durln8 the year. There were no other related party transactlons, 25