an MONEYDIG PRESBYfERIAN CHURCH CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND Trustees Annual Report and Financial Statements for the year ended 31 December 2023 Registered Charity in Northern Ireland {NIC105315)
MONEYDIG PRESBYfERIAN CHURCH CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL AcfiviTY (Receipts and Payments Account) for the year ended 31 December 2023 Note Unrestricted Funds Restricted Fund5 Endowment Funds Total 2023 Total 2022 Receipts Donations and legacies Charitable activities Other trading activities Investment Income Other 65,842 26,558 400 6,050 73 92,400 400 6,689 920 86,260 900 7,166 782 639 67,328 33,081 100,409 95,108 Sale of Investments Sale of fixed assets Loans Received Total Receipts 67,328 33,081 100,409 95,108 Payments Raising funds Charitable activitie5 Other 42,723 18.520 7,464 61,243 7,464 57,834 767 42.723 25,984 68.707 58.601 Purchase of Investments Purchase of fixed assets Loan Repayments 249 12,000 12,000 Total Payments 54,723 25,984 80,707 58,850 Net receipts / (payments) Transfers between funds 12,605 7,097 19,702 36,258 Net movement in funds Funds brought forward 12.605 72,851 7,097 60,100 19,702 132,951 36,258 96,693 Funds carried forward 12 85,456 67,197 152,653 132,951 10
MONEYDIG PREsBERIAN CHURCH CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF ASSETS AND LIABILITIES As at 31 December 2023 Unrestricted Funds Restricted Endowmen Funds t Funds Total Funds 2023 Total Funds 2022 Fund5 Reconciliation Bank and Cash at start of vear Net movement in fund5 72,851 12,605 60,100 7,097 132,951 19,702 96,693 36,258 Bank and Cash at end of year 85,456 67.197 152.653 132,951 Bank & Cash Balance5 General Fund Account Repair£ Account Hall Account Missions Account United Appeal Account Raye Torren5 Memorial Account Sabbath School Catering Bowling Club 86,527 53,513 616 742 104 131 689 3,758 644 1,233 3,182 743 771 74,301 45,720 1,454 713 170 131 686 3,360 993 1,413 2,634 662 714 Campaigners Youth Fellowship Moneydig HolidAy 152,653 132,951 Other Assets Fixed Assets- Note 10 Church Manse 472,000 472,000 Church Hall and Contents Church and Contents 503,000 1,048,000 503,000 1,048,000 InvestmentE- Nate 11 Gift Aid receivable on donations 33,126 14,500 31,750 12,000 2,223,279 2,199,700 Total A55ets 2,223,279 2,199,700 Liabilities Interest Free Loan from Congregation {12,0001 11
MONEYDIG PRESBYfERIAN CHURCH CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF ASSEfs AND LIABILITIES (convd) Approved by the Kirk Session at a meeting on 29 August 2024 and signed on its behalf by Mr. Steven Torrens Date: 14 Octobe 2024 12
MONEYDIG PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBrfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2023 ACCOUNTING POLICIES BASIS OF FINANCIAL STATEMENTS As the total income of the congregation is less than £250,000 the congregatlon have 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 fund5 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 restrir_tpd 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. Unrestrlcted fund5 are income fur7ds which are to be Spent on the congregation's general purp05e5. Designated funds are general funds set aside by the congregation for use in the future. DONATIONS AND LEGACIES Unrestricted Funds Restricted Funds Endowment Funds Total 2023 Total 2022 Recorded giving: Loose collections Donations and gifts Gift Aid 54,273 I,iio 10,459 498 22,146 3,914 54,771 23,256 14,373 48,683 22,433 15,144 65,842 26,558 92,400 86,260 13
MONEYDIG PRESBYfERIAN CHURCH CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTESTO THE ACCOUNTS 31 December 2023 CHARITABLE ACTIVETIES Unrestricted Funds Restrirted Funds Endowment Funds Total 2023 Total 2022 1nc.omp frnm c.haritablp activities Fee5 from weddings and funerals Fundraising event5 Membership fees Grants 400 400 900 400 400 900 4. OTHER TRADING AcfiviTIES Unrestricted Funds Restricted Funds Endowment Funds Total 2023 Total 2022 Letting of premise5 Trading income 639 5,950 loo 6,589 loo 7.085 81 639 6,050 6,689 7,166 INVESTMENT INCOME Unrestricted Funds Restrirted Funds Endowment Funds Total 2023 Total 2022 Deposit interest General Investment Fund Rents- investment properties Other investment income 331 516 344 576 242 540 60 847 73 920 782 14
MONEYDIG PREs8ERlAN CHURCH CONGREGATION OF TH£ PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS {cont'd) 31 December 2023 OTHER INCOME Unrestricted Funds Restricted Fund5 Endowment Funds Total 2023 Total 2022 I nsurance claims Other income RAISING FUNDS Unrestricted Funds Restricted Funds Endowment Funds Total 2023 Total 2022 FWO envclopes Fundraising events CHARITABLE ACTIVITIES Unrestricted Fund5 Restrirted Fund5 Endowment Fund5 Total 2023 Total 2022 General Assembly Assessments Presbytery fees Ministry and support staff costs Congregational running expenses Donations to Missions and charities Governance costs 5,270 356 7,461 18,924 7,582 3,130 5,270 356 7,461 26.340 18,G86 3,130 4,891 347 7,948 27,404 17,2M 7,416 11.104 42,723 18,520 61,243 57,834 15
MONEYDIG PRESBYtERIAN CHURCH CONGREGATION OFTHE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS {conVd) 31 December 2023 OTHER EXPENDITURE Unrestricted Funds Restricted Funds Endowrnent Funds Tutal 2023 Total 2022 Investment Property Expenses Repairs 7,464 7,464 1,016 7,£164 7.464 11,035 10. FIXED ASSETS The congregation owns the Church premises situated at 45 Moneydig Road, Coleraine, BT515JN, and the associated fixtures, fittings, plant and machinery. These have an insurance value of £2,755,942. 11. INVESTMENTS The congregation has the following investments. Amounts are shown at market valuation. Total 2023 Total 2022 NFU Mutual Bond J McCahon/J Adams 32,376 750 31,000 750 33,126 31,750 16
MONEYDIG PRESBYfERIAN CHURCH CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS Icont'd) 31 December 2023 12. FUND BALANCES Fund Balance at start Receipts Payment Surplus / (Deficit) Transfer Balance at end Unrestricted Funds General Account 72,850 67,328 {54,723) 12,605 85,455 72,850 67,328 154,7231 12,605 85,455 Restricted Funds Repairs Account Hall Account Missions Account United Appeal Account Raye Torrens Memorial Fund General Account Sabbath School Catering Bowling Club 45,720 1.454 713 170 14,111 247 6,699 5,411 {6,318) (1.0851 16,6701 15,4771 7,793 (8381 29 (66) 53,513 616 742 104 131 1,451 686 3,360 993 1,413 2,634 662 714 131 1,072 689 3.758 644 1,233 3,182 743 771 1,358 575 430 11,737} (5721 1321 {3491 (1,5951 (1,138) 1949) {62) (379) 398 13491 1180} 548 81 57 1,415 1,686 1,030 119 Campaigners Youth Fellowship Moneydig Holiday 60,101 33,081 125,9841 7,097 67,198 Endowment Funds Total 132,951 100,409 180,7071 19,702 152,653 17