BallygowAn Prcsbytei'ian Church StAtement of FinanciAI ActivitiC5 for the yeai. ended 31 December 2023 2023 Total funds 2022 Total funds Unrestricted fund Resti'icted fund Endowment fund Notes INCOME AND ENDOWMENTS FROM Donalions and legacies 166,383 44.430 210,813 195.798 ClIAritable activiti Donations to Missions and Chai'ities Chai'itable Activities Congregational running expense5 8,250 8,571 8,250 12,731 4,630 5.908 4.160 1.200 1.200 Investment income Other income 1,418 1,418 5.328 1,382 Total 184,622 5,328 239 740 202,500 EXPENDITURE ON ChAritAble Activities General A55etnbly Assessnients Depi'eci&lion Ministry & Support Staff Costs Donations to Missions and Charitie5 Chai'itable Activities Congregational ninning exp¢nses Governan¢e Costs 15.912 11.569 140.411 15.912 11.569 140,411 20.466 21.755 125,720 7.500 17,113 7,500 20,638 7,425 11.986 3.525 18.218 26,357 44,575 41,574 6.243 TotAI 195364 246.334 235 169 NET INCOMEI IIEXPENDITURE) Transfers behyeen funds (10,742) (1.180) 5,328 2,001 (6,594) (32,6691 16 Tr4et movement iii funds (12,743) (1,180) 7,329 (6.594) 132.669) REI CONCILIATION Olf FUNDS Total funds brought forward 593,832 35,952 59,805 689,589 722,258 TOTAL fi UNDS CARRIED FORWARD 581089 34.772 67.134 682,995 689,589 T]ie notes forin part of these financial slalem¢n15 Page 9
BHllygowAlI Pi'esbytQi'iRn Chui'cli BAIAtJeo Sheet 31 Decembey 2023 2023 2022 Not¢s FIXfi D ASSJITS Tangibl¢ assets Inv¢stment property 10 125.937 410,973 137,506 410,973 536,910 548,479 CURRENT ASSETS Debtors Investments Cash at baiik 12 13 11.880 67,134 63.418 11.386 59,805 85.644 162,432 156,835 CREDITORS Amounts falling due within on¢ year 14 {16.347) (15.725) NEIT CURRENT ASSETS 146.085 141.110 T(yfAL ASSETS LESS CURRCI NT LIABILITIES 682,995 689,5B9 NET ASSETS 682,995 689,5B9 FUNDS Unrestiicled fvnds RestTleted fuiids Endowin¢nt funds 16 581,089 34,772 67,134 593,B32 35,952 59,805 TOTAL IIUNDS 682,995 689,589 ancia statements were approved by the Boaid of Trust¢w ai)d authoi'ised for issue on aiid w¢iE signed on its behalf by.. TrusteE Trustee Tl)e LlOte5 Forin part of these financial slatemenls Page10
Ballygowan Presbytei'ian Church Notes to the fi inMneiAI Statements for tlie year ended 31 Decembei. 2023 ACCOUNTIIYG POLICIES Bxsis of prcpAI'ing the finAneial statements The financial slatem¢iits of the chai'ity, which is a public benefit entity under FRS 102, have been prepayed in ac¢oL'dance with the Charities SORP {FRS 102) 'A¢counting and Reporting by Charities.. Statement of Recomniended Procliee applicable to ¢hai'ities preparing iheir accounts in ac¢ordance with the Financial Repoiling Standard applicable in th¢ UK and Republic of Ireland {FRS 102) {eff¢ctive l January 2019),. Financial Reporting Standard 102 'The FinRncial Repoitiiig Standai'd applicable in the UK and Republic of li'eland, and the Charities Act (Northern Ii'eland) 2008. The financial statements liave been prepai'ed undei. the historical c05t convention. Income All income is recognised in the Staiement of Financial Activities once the charity has entitlement lo the funds. it is probable that the ii)come will b¢ I'eceived and th¢ amount can be measur¢d reliably.Gift aid ¢lain)s are recognised in Il)e period to whicli they relate. Expenditure Liabilities al'e I'¢¢ognised as expenditvie as soon as there is a legal or constructive Dbligation comniitting the charity to that expenditure. it is probable that a transf¢r of e¢oiiomic benefits will be i'equired in settlen)¢nt 2nd the amounl of the obligation can be measured reliably. F.xpenditure is accounted for on an accruals basis aod has been classifi¢d under headings that aggregate all cost related to the category. Where costs cannot be directly Mttributed to paiticular headings they have been allo¢at¢d lo activities on a basis Consistent with the us¢ of resources. Tangible fixed Assets All fixed assets are initially iecoi'ded at cost. The Ti'ustees will conduct an impairnient review when events or circumstan¢¢s indicate that thc Carrying amount of fixed assets may not be I'ecoverable. Depreciation is provided ai the following annual rates in ol'der to write off each asset OVeT its estimated useful life. Freehold propeity Fixtui'¢s and fittings - 20/0 on cost IOO/• on cost Investment propei'ty Investment propei'ty is shown at Inost IE¢ent valuation. Any aggregate surplus or deficit arising froin changes in fair value 15 re¢ognised in the Statement of Fii)ancial Activities. TNxAtion Ballygowan Pi'esbyterian Church is recognised as a ¢httrity for the purposes of applicable taxation legislation and therefoi'e is not subject to tax on ils cl)aritsble activiti¢s. Tl)e charity is not I'egistered foi. VAT and resources expended thei'efore include irrecoverable inpiit VAT Fund accounting Funds are cla55ified as either resti'ict¢d or unrestricted funds. defined as follows. Restricted funds are fund5 subject to specific IEqUlI'ements a5 to tlieir us¢ which may be declared by the donor with their authority or ci'eatBd through the legal pi'o¢ess, but still within the widei. objects of the charity. Endowment funds are funds which have been giveii on the coiidilion that the oi'iginal capitol sum is not reduced, but th¢ income there fi'om is used foi. the pu¥pose defined in accoi'dan¢¢ with the objects of the charity. Pension ¢ostS And otliei- post-l'etii'enient benefits The chol'ity operates a defined contribution pension sche]ng. Contributions payable lo the charity's pension s¢h¢tne are charged lo tlie Siatemeiit of Financial Activiti¢S IJI the pel'iod to which they relate. Page 11 eonlinued...
BfillygoivAn Pi'esbyteriHn Chui-ch Note5 to the Finaiicinl Statements- eontinued for tlie yeAr ended 31 December 2023 ACCOUNTING POLICIES- continued Investments Fixed ass¢1 investments are 5tat¢d at mai'ket valuc at the balance sheet dale. Unrealised gains and losses repi'esent the difference between the market value at thc beRinning and end of the financial year or, if purchased in the year, the difference between ¢ost and market valu¢ at the end pf th¢ y¢2r. Realised gains and losses I'epresent the diff¢i'¢i)¢e between proceeds on disposal and the market value at the start of the year or ¢ost if purchased in th¢ year. DONATIONS AND LEIGACIES 2023 Total runds 2022 Totsl funds Unrestricled funds Restri¢ted funds ndowment funds Freewill Offering Building Fund Stipcnd United Appeal Gift Sundays Harvest Appeal Donated services aiid facilities Orplian Society World Development App¢al GA on small donations Mod¢ralors Appeal 158,201 158.201 11.415 3,745 6.894 6,723 r8,906 147.998 9,169 2,995 7,013 4,783 18,473 11.415 3.745 6,894 6,723 18,906 450 450 246 620 142 246 246 246 3,987 142 2,195 3,987 166 383 210 813 195798 Ainounts above include gift aid of £30,976 {2022'.£27.9801. INVESTiiqEKf INCOMIL 2023 Total funds 2022 Total fuThd5 Unresti'icted fund5 Restricted funds Eiidowment fuiids Bequest Income Page 12 continued...
BallygoivAn Pr¢sbyteriAn Church Note5 to the fiinkneixl Slatemeiits- eontinued foi. tlie yeai. ended 31 Deeembcr 2023 INCOME FROM CHARITABLE ACTIVITIES 2023 2022 Activity Moldova trip Donations to Missions and Charities Grants Cliaritable Activities Indoor Bowling Club Chai'itable Activities Girls Bi'igade Charitable Aotivities Mother & Toddler Club Chai'ilable Activities PWA Ch81'itable Activities Badminton Club Chai'ilable Activities Wider World Magazine Chai'itable Activities Herald Magazine ChRI'itable Activities Use of Hall Chai'itable Activities Sale oi. Rentsl of Books etc. Charitable Activities Catering Corps Chai'itable Activities Other donations Cl)ai'itable Activities Cai. parking on Black Sunday Chai'itable Activities Youth Mission Chai'itable Activities Boy's Brigade Chai'itable Activities Legacy Cl)o1'itable Activities A Nori'ie Charitable Activities Energy Scheme Congregational running expen5¢S 8.250 4,630 300 600 500 100 100 200 336 465 1,452 32 600 500 200 100 200 343 504 1.440 81 5,000 758 66 885 250 200 250 200 2,000 555 422 22.181 CHARITABLE ACTIVITIES COSTS Support costs (see note 6) Direct Costs Totals General Assembly Assessments DepTcciation Ministry & Support Staff Costs Donations to Missions and Ch8ritie5 Charitable Activitie5 Congregational running ¢xp¢nses Gov¢i'nance Costs 15,912 11,569 140,411 7,500 19,558 44.575 15,912 11,569 140,411 7,500 20,638 44,575 1,080 5.729 239.525 246,334 Page 13 continued...
BRllygowAii Pi'esbyterian Church Notes to the FinaiiciAI SIAtements- Continued ror the yeAr ended 31 Deeembei. 2023 SUPPORT COSTS Governance eost5 Finance Totals Chai'ilable Activilies Govei'nance Costs 1.080 1.080 816 816 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, I'emuneration or other benefits for the yeai. ended 31 December 2023 nor for the yeai. ended 31 Deeeniber 2022. 'rrustees' expenses There wei'e DO trus¢ee5' expenses paid foi. the year ended 31 Deceiiiber2023 nor for the year ended 31 December 2022. STAFF COSTS 2023 2022 Wages and salaries Social security cost5 Othcr pension cost5 123,785 5,903 10.723 115,540 5,800 140 411 131553 The avei'age monthly number of employees during the year was as follows.. 2023 2022 Number of niinislerial staff Numbei. of adniini5tTative staff No employees r¢¢eived ernoluinents in ex55 of £60,000. Page 14 continued...
Ballygoivlln Presbytei'lAn Chlll'ch Notes to the Financi¥LI St8tements- continued for the year ended 31 December 2023 COMPARATIVEI S FOR THE STATEMENT op fi INANCIAL ACTJVITIES Uni'estricted Restricted fund fund Endowrnent nd Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 156,076 39,722 195,798 ChAI'iIAble aetivities Donations to Missions and Charities Charitable Activities 4,630 1,223 4,630 5,908 4,685 Inveslment income other incotne 1,382 1,382 5,218 TotRI 162 143 45,575 5,218 202,500 EXPENDITURE ON Chlli'itllble Activities General Assembly Assessments Depi'eciation Mini5ti'y & Support Staff Costs Donations to Missions and Chai'ities Charitable Activities Congregational I'unning expenses Gov¢rnance Costs 20,466 21,755 125.720 125 4,349 13,406 20,466 21.755 125,720 7,425 11,986 41,574 6,241 7,300 7.637 28.168 TotAI 192,064 235,169 NET INCOMEI(EXPENDITURE) (29,921) 2,470 (5,218) (32.669) RECONCILIATION OF FUIYDS Total funds brought forward 623.753 33.482 65,023 722,258 TOTAL FUNDS CARRIED f4ORWARD 593.832 689,589 Pag¢ 15 coi)tiiiued..-
BAllygoivan Pi'esbyteriHn Church Notes to tlie FinAncial StHtements- tontinued ror the yQAr ended 31 December 2023 io. TANGIBLE FIXED ASSETS Fixtures and rittings Freehold property Totals COST At l January 2023 and 31 December 2023 484 280 145.194 629,474 DEPRECIATION At l January 2023 Charge for year 354,403 137,565 2.254 491,968 11.569 At 31 Dec¢niber 2023 363.718 139.819 503 537 NET BOOK VALUE At 31 December 2023 120 562 125,937 At 31 Decembw2022 129 877 137,506 The Trustees consideT that legal title to all of the land and property comprised in the underlying decds Telating to the various lands held al'e ultimat¢ly held under the mcmbership of the Education Board of the Down Presbytery as the Holding Trustees in relation lo Ilie title of the Church's propeities. The property is held at cost less acCumulad depreciation. The Trust¢es are of the opinion that this is an appropriate valuation. INVESTMENT PROPERTY FAIR VALUE At l Janii•ry 2023 and 31 De¢ember 2023 410973 NET BOOI< VALUE At 31 Dec¢mber 2023 410 973 At 31 De¢embei' 2022 410,973 Investment property relates to the ¢hurch nian5e owned by the charity and is included at its depreciated cost 85 at 31 December 2021. The Irustets al'e of the opinion that this 15 an appropriate carrying value as at 31 December 2023. Page 16 continued...
BAllygoiv#n Presbyterifin Church Notes lo the FinanciHI Statements- coiitinued foi. tlie yeRr ended 31 Decembei. 2023 12. DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Tax refunds from HMRC Donations due Pi'epaymeT)ts and accrued income 9,716 1.100 1,064 7.493 750 1,386 13. CURRENT ASSEI T INVESTMENTS 2023 2022 Bequest InVtmentS Bequest deposit a¢¢ount 65,568 1.566 58,244 1,561 59.805 The Bequest investments are held in the genei'al investment fvnd of the Presbyl¢i'ian Church in Ireland for designated endowment fund PUTPOS¢S and compi'i5e 5haTes in the Genera Inv¢slment Fund.. Th¢ assets are included in the financial stalement5 at market value having been restated in lirie with the Staten)ent of Recominended Practice. These invcstm¢nts weir bequested lo the Chui'cli and thtt capital sums cannot be used for general purpos¢s. The incomB can be used for the pui'poses set out in accordat]ce with the bequest tcrms. 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Other creditors 15,725 Other creditors include a loan from a member of the congregation of £1 000 which is un5e¢ui'ed, interest free and repayable on dcmand. 15. ANALYSIS OF NET ASSETS BETWEEF4 FUNDS 2023 Total funds 2022 Total funds Unresti'icted fund Restt'icted fund Endowmcnt fund Fixed assets Inve5tm¢nls Curront assets Curi'eiii liabilities 125,937 410,973 52,526 8,347) 125,937 410,973 162,432 16 3471 137.506 410,973 156,835 15.725 42,772 67.134 581.089 682.995 689 589 The unrestTi¢led fund5 1'epi'¢5enl the free funds of the churcli whi¢l) al'e not dosignaled foi. particu5ar PUTP05es. The reslricled flind5 have been Set up to #ssist in identifying those funds that are not free fuiids and it is rcpres¢nted by baiik accounts held {£42.772) less Soans froin members of thc Gongregation {£I.000). and Ui)ited Appeal ¢onlributioiis payable (£7.000). Page 17 ¢onlinued...
BallygoiYRn Pi'c5byteriRn Chui'ch Notes to the fi inHNcial Statements- continued roi. the yeai, ended 31 Deeembei. 2023 16. MOVEMENT IN FUNDS Net movem¢nt in hnds Transfers between funds At 31112123 At 111123 Uniistricted funds General fund 593,832 (10,742) (2.001) 581.089 Re$ti'icted funds Restricted income funds 35,952 (1,180) 34,772 Endowment funds Endowment 59,805 5,328 2.001 67.134 TOTAL FUNDS 689,589 682 995 Net moveincnt in funds, included in the above are as follows: Incoming resources Resource5 expended Movement in funds Unrestrlcted funds General fund 184,622 (195,364) {10.742) Re5trieted funds Rtslricted incoine funds 49,790 (50,970) (1,180) ndowment funds Ertdowment 5.328 5,328 TOTAL FUNDS 239,740 246,334) cOmpartIveS foi. movement in funds Net movement in fund& At 31112122 At111122 Uni'estricted funds G¢n¢i'al fund 623,753 (29,921) 593,832 Restricted funds Restricted incoine funds 33,482 2,470 35.952 Endoivment funds Endowm¢Dt 65.023 {5.218) 59.805 TOTAL FUNDS 722.258 32 669) 689.589 Page 18 ¢ontinued...
BallygoiwRn Presbytei'ian Church Notes to tlie FinRnclal Statements- contiiiued for the yeAr ended 31 December 2023 16. MOVEMENT IN FUNDS- continued Compai'alive net movement in funds, included in the above are as follow5.. Incomin¥ resouires Resources expended Movcment iii funds Unrestricted funds General fund 162,143 {192,064) (29,921) Restrleted funds Restricted incon)e funds 45,575 (43.105) 2,470 I ndoivment funds Endowment {5.218) {5.218) TOI'AL fiUNDS 202 500 235,169 32 669) A current year 12 montlis and prior year 12 months combined posilion is as follows.. Nel movement in fund5 Transfers between funds At 31112r23 At 111122 Unrestrict¢d fund$ General fund 623,753 (40.663) (2.001) 581,089 Restricted funds Restricted income funds 33,482 1.290 34.772 Endoivment funds Ei)dowment 65.023 110 2,001 67,134 TOTAL fiUNDS 722,258 682 995 Page 19 coiitiiiued..
BollygowAn Presbytei'iin Chul'ch Notes to the fi Snancial Statements- continued for the yeAr ended 31 December 2023 16. MOVEMENT IN FUNDS- eontinued A current year 12 Inontlis and prior yeaT 12 moiiihs ¢ombined net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in fund5 Unrcstrieted funds General fvnd 346,765 (387,428) (40,663) Restricted fund5 Restricted inconie funds 95,365 (94,075) 1.290 Endoivment funds Endowment iio 110 T(YfAL FI UNDS 442 240 4815031 39263) Transfei's between funds relate to the reclassification of c'tain prior year expenditure from unresti'icted to reslrieted fui)ds 17. RELATED PARTY DISCLOSURES The Trustees, report includes a deseriplion of various oi'ganisations affiliated to the church. The financial traii$8etions and affairs of all oi. any of these oi'ganisations are outside the s¢ope of these finai)cial stalements and none of the fuiid5 or assets held by these organisations are included in these financial a¢counts. Page 20
BAllygoiYRn Pi'esbyterian Church Detailed Statement of Financial Activities foi. the yeai. ended 31 Decembei. 2023 2023 2022 INCOME AND ENDOWMENTS DonAtions And legacies Freewill Offering Building Fund Stipend Unitcd Appeal Gift Sundays 14arvest Appeal Donated s¢ivi¢es and facilities Orphan So¢i¢ty World Development Appeal GA oil small donations Modei'ators Appeal 158,201 1,415 3,745 6.894 6,723 18.906 450 246 246 3,987 147.998 9.169 2,995 7,013 4,783 18,473 620 142 142 2,195 210,813 195,798 Investment income Bequest Inconie 1,418 1,382 Charitable Activities Grants Indoor Bowliiig Club Girls Brigade Mother & Toddlei. Club PWA Badniintoi) Cliib Wider Woi'ld Magazine Herald Magazine Use of Hall Sale or Rental of Books ¢t¢. Cateriiig Coi'ps oihcr donations Moldov2 trip Car parking on Black Sunday Youth Mission Boy's Brigade Legacy A Nori'i¢ Enei'gy Scheme 300 600 soo 100 100 200 336 465 1,452 32 600 500 200 loo 200 343 504 1.440 81 5,000 758 ,250 66 4.630 885 250 200 250 200 2,000 555 422 22,181 10.538 Olliei. income Unrealised gain I loss on investment 5.328 5,215) TotAI incomiiig resoiii'ces 239.740 2Q2,500 This page does not forin part of the statutory financial slalenients Page21
BAllygowan Presbytei'ian Chui'eh Detailed StAlement of fi iiianciAI ActiYitlCS for the year ended 31 Decembei. 2023 2023 2022 I XPENDITURE Charitable Activities Wages Social se¢urity Pensions Rates and watei. Insurance Light and heat Teleplion¢ Postage and stationery Sundries Pulpit Supplies 123,785 5,903 10,723 911 6,017 15,973 580 3,839 17,113 1,289 115,540 5,800 10,213 569 5,550 13,751 677 3,736 12,871 1,323 I i! Down Pi'esbytery Fees United Appeal General Mainlenance Manse Rates Orphan Society Woi'ld Development Appeal Church magazines Children & youth ministries PayJnents undei. a55embly assessments UCB wol'd of tli¢ day Daily Bread Ministries D¢pTeci8tion of tangible fixed assets 1.068 7,000 13,225 1.673 250 250 1.281 1,664 15,287 75 50 936 7,000 13,458 1,573 550 150 1,282 2,840 14,635 75 50 11.731 239.525 223,910 Support costs riinAnce Bank ¢hai'ges 816 776 Governance costs A¢coiintancy and legal fees 10.483 Total resoui'ces expended 246 334 235,169 Net expenditui'¢ 32.669) Tliis page does not form parl of the statutory finRllcial statcments Page 22