Ballygowan Presbyterian Church Statement of Financial Activities for the year ended 31 December 2022 2022 Total nds 2021 Total funds Unrestricted fund Restricted fund Endowment fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 156,076 39.722 195,798 195,191 Charltable actSvities Donations to Missions and Charities Charitable Activities 4,630 1.223 4,630 5,908 4,685 9,173 Investment income Other income 1,382 1,382 5,218 1,324 7,237 5,218 Tot21 162,143 5,218 202,500 212.925 EXPENDITURE ON Charitable activities General Assembly Assessments Depreciation Ministry & Support Staff Costs Donation5 to Missions and Charities Charitable Activities Congregational running expenses Governance Costs 20.466 21.755 125,720 20,466 21.755 125.720 17,024 22,150 114.141 125 4,349 7,300 7,637 7,425 11,986 8.225 14,998 13.406 6.243 28.168 41,574 6,243 35.459 5,590 Total 192,064 43,105 235,169 217,587 NET INCOMEI(EXPENDITURE) (29,921) 2,470 (5,218) (32,669) (4.662) RECONCILIATION OF FUNDS Total funds brought fonvard 623,753 33,482 65,023 722,258 726,920 TOTAL FUNDS CARRtED FORWARD 593,832 35,952 59,805 689.589 722.258 The notes fonn part of these financial statements Page 9
B211ygowan Presbyterian Church Balance Sheet 31 December 2022 2022 2021 Notes FIXED ASSETS Tangible assets Investment propety io 137.506 410,973 560.210 548.479 560,210 CURRENT ASSETS Debtors Investments Cash al bank 12 13 11.386 59,805 85,644 10.850 65.023 102.020 156,835 177,893 CREDITORS Amounts falling due within one year 14 (15.725) (15,845) NET CURRENT ASSETS 141,110 162,048 TOTAL ASSETS LESS CURRENT LIABILITIES 689.589 722.258 NET ASSETS 689.589 722,258 FUNDS Unrestricted funds Restricted funds Endowment funds 16 593.832 35,952 59.805 623,753 33,482 65,023 TOTAL FUNDS 689,589 722,258 The fInancial statements were approved by the Board of Trustees and authorised for issue on ! S ....%.Z-cjlj... and were signed on its behalf by". Trustee Trustee M2 The notes fomi part of these financial statements Page 10
Ballygowan Presbyterian Church Notes to the Financial Statements for the year ended 31 December 2022 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charity, which is a public benefIt entity under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act (Northern Ireland) 2008. The financial statements have been prepared under the historlcal cost convention. Income All income is Tecognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.Gift aid claims are recognised in the period to which they relate. Expenditure Liabilities are recognised as expenditUTe as soon as there is a legal or constructive obligation committing the charity to that expenditure, it IS PTobable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tangiblc fixed assets All fixed a55ets are initially recorded at cost. Th¢ Truste¢s will conduct an impaimient review when events or circumstJnce5 indicate that the carrying amount of fixed ass¢ts may not be recoverable. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property Fixtures and fittings 2% on cost IO% on cost Investment property Investment property 15 shown at most recent valuation. Any aggregate surplus or deficit arising from ¢hanges in fair value is recognised in the Statement of Financial Activities. Taxation Ballygowan Presbyterian Church is recognised as a cbarity for the purposes of applicable taxation legislation and therefore is not subject to tax on its charitable activities. The charity is not registered for VAT and resources expended therefore include irrecoverable input VAT Fund accounting Funds are classified as either restricted or unrestricted funds. defined as follows. Restricted ndS are ndS subject to specific requirements as to their use which may be declared by the donor with their authority or created through the legal process, but still within the wider objects of the charity. Endowment funds are funds which have been given on the condition that the original capital sum is not reduced, but the income there from is used for the pury)ose defined in accordance with the objects of tlie charity. Pension costs and other post-retirement benefits The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Pagell conlinued.
Ballygowan Presbyterian Church Notes to the Financial Statements - continued for the year ended 31 December 2022 ACCOUNTING POLICIES - continued Investment5 Fixed asset investments ar¢ stated at market value at the balance sheet date. Unrealised gains and losses represent the difference between tlie market value at tlie beginning and end of the financial year or, if purchased in the year, the differenc¢ between cost and market value at the end pf the year. Realised gains and losses represent the difference bemeen proceeds on disposal and the market value at the start of the year or cost if purchased in the year. DONATIONS AND LEGACIES 2022 Total funds 2021 Total nds Unrestricted funds Restricted funds Endowment funds Freewill Offering Building Fund Stipend United Appeal Gift Sundays Harvest Appeal Donated services and facilities Orphan Society World Development App¢al GA on small donations Moderators Appeal 147,998 147,998 9,169 2,995 7,013 4,783 18,473 148,835 9.043 2,625 7,507 4,551 19,934 9,169 2,995 7,013 4.783 18,473 620 620 142 1,700 177 142 142 142 2,195 2,268 177 642 2.195 2,268 156,076 39.722 195,798 195,191 Amounts above include gift aid of £27,980 (2021..£27,756). INVESTMENT INCOME 2022 Total fund5 2021 Total funds Unrestricted funds Restricted funds Endowment funds Deposit account interest Bequest Income 85 1,239 1.382 1,382 1.382 1,382 1.324 Page 12 continued...
Ballygow2n Presbyterian Church Notes to the Financial Statements - continued for the year ended 31 December 2022 INCOME FROM CHARITABLE ACTIVITIES 2022 2021 Activity Moldova trip Donations to Missions and Charities Grants Charitable Activities Indoor Bowling Club Charitable Activities Girls Brigade Charitable Activities Mother & Toddler Club Charitable Activities PWA Charitable Activities Badminton Club Charitable Activities Wider World Magazine Charitable Activities Herald Magazine ChaTitable Activities Use of Hall Charitable Activities Sale or Rental of Books etc. Charitable Activities Other donations Charitable A¢tivities Car parking on Black Sunday Charitable Activities Youth Mission Charitable Activities Boy's Brigade Charitable Activities Legacy Charitable Activities Saintfield Black Charitable Activities A Nole Charitable Activities 4,630 300 600 500 loo 100 200 336 465 1,452 32 66 885 250 200 4,642 600 500 470 248 173 200 200 2,000 loo 40 422 10.538 9,173 CHARITABLE ACTIVITIES COSTS Support costs (see note 6) Direct Costs Totals General Assembly Assessments Depreciation Ministy & Support Staff Costs Donations to Missions and Chartties Charitable Activities Congregational running expenses Governance Costs 20,466 21,755 125,720 7,425 6,970 41.574 20.466 21,755 125.720 7,425 11,986 41,574 6,243 5,016 6,243 223,910 11,259 235,169 Page 13 continued...
Ballygowan Presbyterian Church Notes to the Financial Statements - continued for the year ended 31 December 2022 SUPPORT COSTS Governance costs Finance Totals Charitable Activities Governance Costs 5,016 5.467 5,016 6,243 776 776 10,483 11,259 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021. Trustees, expenses There were no tTUStees' expenses paid for the year ended 31 De¢embeT 2022 nor for the year ended 31 Decetnber 2021. STAFF COSTS 2022 2021 Wages and salaries Social security costs Other pension costs 115,540 5,800 10,213 98,767 5,386 9,988 131,553 114,141 The average monthly number of employees during the year was as follows.. 2022 2021 Number of ministerial staff Number of administrative staff No employees received emoluments in excess of £60,000. COMPAIL4TIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund fund Endowment fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 153,802 41,389 195.191 Charitable activities Charitable Activities 7.033 2.140 9,173 Investment income Other income 1.324 1.324 7.237 Total 162,159 43,529 7,237 212,925 Page 14 continued...
Ballygowan Presbyterian Church Notes to the Finallcial Statements - continued for the year ended 31 December 2022 COMPAIL4TIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted Endowment fund fund fund Total fijnds EXPENDITURE ON Charitable aetivities General Assembly Assessments Depreciation Ministy & Support Staff Costs Donations to Missions and Chartties Charitable Activities Congregational runnin8 expenses Governance Costs 17,024 22,150 114,141 125 3,408 19,512 5,590 17.024 22,150 114,141 8,225 14,998 35,459 5.590 8,100 11,590 15,947 Total 181,950 35.637 217,587 NET INCOMEI(EXPENDITURE) (19,791) 7.892 7,237 (4,662) RECONCILIATION OF FUNDS Total funds brought forward 643,544 25,590 57,786 726.920 TOTAL FUNDS CARRIED FORWARD 623.753 33,482 65.023 722,258 io. TANGIBLE FIXED ASSETS Fixtures and fittings Frechold property Totals COST At l January 2022 Reclassification 985,465 501,185) 145,194 ,130,659 501,185 At 31 December 2022 484.280 145,194 629.474 DEPRECIATION At l January 2022 Charge lor year Re¢lassification/transfer 435,277 9.338 90,212) 135,172 2.393 570,449 11.731 (90,212) At 31 December 2022 354.403 137,565 491,968 NET BOOK VALUE At 31 Decetnber 2022 129.877 7.629 137.506 At 31 December 2021 550,188 10,022 560,210 The Trustees consider that legal title to all of the land and propety comprised in the underlyin8 deeds relating to the various lands held are ultimately held under the membership of the Education Board of the Down Presbytery as the Holding Trustees in relation to the title of the Church's properties. Page 15 continued...
Ballygowan Presbyterian Church Notes to the Financial Statements - continued for the year ended 31 December 2022 io. TANGIBLE FIXED ASSETS - eontinued The property is held at cost less accumulated depreciation. The Trnstees are of the opinion that this is an appropriate valuation. ii. INVESTMENT PROPERTY FAIR VALUE Reclassification 410.973 At 31 December 2022 410,973 NET BOOK VALUE At 31 December 2022 410,973 At 31 December 2021 Investment property relates to the church manse owned by the cbarity and is included at its depreciated cost as at 3 L December 2021. The trustees are of the opinion that this is an appropriate carrying value as al 31 December 2022. 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2021 Tax rendS from HMRC Donations due Prepayments and accrued income 7.493 750 3,143 7,629 380 2,841 11,386 10,850 13. CURRENT ASSET INVESTMENTS 2022 2021 Bequest Investments Bequest deposit account 58,244 1,561 63,462 1,561 59,805 65,023 Th¢ Bequest investments are held in the general investment fund of the Presbyterian Church in Ireland for designated endowment fvnd purposes and comprise shares in the Genera Investn]ent Fund.. The assets ar¢ included in the financial statements at market value having been restated in line with the Statement of Recommended Practice. These investtnents were bequested to the Church and the capital sums cannot be used for general purposes. The income can be used for the purposes set out in accordance with the bequest terms. Page 16 continued...
Ballygowan Presbyterian Church Note5 to the Financial Statements - continued for the year ended 31 December 2022 14. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2021 Other creditors 15,725 15,845 Other creditors include a loan from a member of the congregation of £1 000 which is unsecured, interest free and repayable on demand. 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2022 Total fimds 2021 Total funds Unrestricted fund Restricted nd Endowment fund Fixed assets Investments CutTent assets Current liabilities 137.506 410.973 53.078 137,506 410,973 156.835 15.725) 560,210 43,952 8,000) 59,805 177,893 15.845) 593,832 35,952 59,805 689 589 722.258 The unrestricted funds represent the free funds of the church which are not designated for particular purposes. The restricted funds have been set up to assist in identifying those funds that are not free funds and it is represented by bank accounts held (£42,182) less loans from members of the congregation (£I.000), and United Appeal contributions payable (£7,700). 16. MOVEMENT IN FUNDS Net movement in ndS At 31112122 At 111122 Unrestricted funds General fund 623,753 (29,921) 593.832 Restricted funds Restricted income funds 33,482 2.470 35.952 Endowment funds Endowment 65,023 (5,218) 59,805 TOTAL FUNDS 722,258 32,669 689,589 Page 17 continued...
Ballygowan Presbyterian Church Notes to tbe Financial Statements - continued for the year ended 31 Deeember 2022 16. MOVEMENT IN FUNDS - continued Net movement in funds. incLuded in the above are as follows.. Incoming resources Resources expended Movement in fijnds Unrestricted funds General nd 162,143 (192.064) (29,921) Restricted funds Restricted income funds 45,575 (43,105) 2,470 Endowment funds Endowment (5,218) (5.218) TOTAL FUNDS 202,500 235.169 32,669) Comparatives for movement in funds Net mov¢ment in tsnds At 31112121 At 111121 Unrestricted funds General fund 643.544 (19,791) 623,753 Restricted funds Restricted income fiinds 25,590 7.892 33.482 Endowment funds Endowment 57.786 7,237 65.023 TOTAL FUNDS 726,920 4,662 722,258 Page 18 continued...
Ballygowan Presbyterian Church Notes to the Financial Statements - continued for the yeAr ended 31 December 2022 16. MOVEMENT IN FUNDS - continued Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended MovemerAt in lldS Unrestricted funds General Sjnd 162,159 (181.950) (19,791) Restricted funds Restricted income funds 43,529 (35,637) 7,892 Endowment funds Endowment 7,237 7,237 TOTAL FUNDS 212,925 217.587 4,662 A Cuent year 12 months and prior year 12 months combined position is as follows= Net movement in fidS At 31112122 At 111/21 Unrestricted funds General fund 643,544 (49.712) 593.832 Restricted funds Restricted income funds 25.590 10.362 35.952 Endowment funds Endowment 57.786 2.019 59,805 TOTAL FUNDS 726,920 37,331) 689.589 Page 19 continued...
Ballygowan Presbyterian Church Notes to the Financial Statements - continued for the year ended 31 December 2022 16. MOVEMENT IN FUNDS - continued A Cuent year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows= Incoming resources Resources expended Movement in ndS Unrestricted funds General fund 324,302 (374,014) (49,712) Restricted funds Restricted income funds 89,104 (78.742) 10,362 Endowment funds Endowment 2,019 2,019 TOTAL FUNDS 415.425 452.756 37,331) Transfers between funds relate to the reclassification of certain prior year expenditure fn)m unrestricted to restricted fijnds 17. RELATED PARTY DISCLOSURES The Trustees, report includes a description of various organisations affiliated to the church. The financial transactions and affairs of all or any of these organisations are outside the scope of these financial statements and none of the funds or assets held by these organisations are included in these financial accounts. Page 20