SECOND KILREA 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 {NIC105319)
SECOND KILREA CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the year ended 31 December 2023 Note Unrestricted Funds Restricted Funds Endowment Funds Total 2023 Total 2022 Receipts Donations and legacies Cliaritable activitie5 Other trading activities Investment Income 25,861 11,259 685 6,721 2,690 37,120 685 8,015 3,275 37,253 20 6,718 1,835 1,294 585 Sale of Investments Sale of fixed assets Loans Received Total Receipts 27,740 21,355 49,095 45.826 Payments Raising Funds Charttable activities Other 206 28,931 206 39,247 2,055 211 39,135 9,960 10,316 2,055 Total Payments 29,137 12,371 41,508 49,306 Net receipts / (payments) Transfers between funds (1,397) 12,204 8,984 (12,204) 7.587 (3,480) Net movement in funds Fund5 brought forward 10,807 130,150 (3.220) 122.812 7,587 (3,480) 252.962 256,442 Funds carried forward li 140,957 119,592 260,549 252,962 11
SECOND KILREA CONGREGATION OF THE PRE5BERIAN CHURCH IN IRELAND STATEMEN- OF ASSEfs AND LIABIUTIES As at 31 December 2023 Unre5trirted Funds Restricted Endowment Total Funds Total Funds Funds Funds 2023 2022 Funds Reconciliation Bank and Cash at start of year Net movement in funds 130,150 10,807 122,812 13,220) 252,962 7,587 256,442 {3,480) Bank and Cash at end of year 140,957 119,592 260,549 252,962 Bank & Cash Balances Bank Deposit Accounts Bank Current Accounts 174,717 85,832 170,055 82,907 260,549 252,962 Other Assets Fixed Assets- Note 9 Church Premises 1,687,000 1,687,000 Fixtures, Fittings & Equipment Vehicles Investments- Note 10 33,853 33,853 Gift Aid receivable on donations 1,720,853 1,720,853 Liabilities (N/A) (N/AI Approved by the Kirk Session at a etin 'G l kn andsignedon ttsbehalfby John Mcllrath Alastair Rowe Date: Date: 12
SECOND KILREA CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2023 ACCOUNTING POLICIE5 BASIS OF FINANCIAL STATEMENTS A5 the total income of the congregation is less than £250,000 the congregation have elected in accordance with the provision5 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 (al 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 which 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. DONATIONS AND LEGACIES Unrestrirted Funds Restricted Endowment Funds Funds Total 2023 Total 2022 Recorded giving: Free Will Offering L005e Collections Donations and gifts Gift Aid 14,988 6,479 14.988 7,934 9,070 5,128 15,212 7,589 10,043 4,409 1,455 9,070 734 4,394 25,861 11,259 37,120 37,253 13
SECOND KILREA CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2023 CHARITABLE AcfiviTIES Unrestricted Funds Restrirted Funds Endowment Funds Total 2023 Total 2022 Income from charitable activities Fees from weddings and funerals Fundraising events Membership fees Grants 685 685 20 685 685 20 OTHER TRADING AcfiviTIES Unrestricted Funds Restricted Funds Endowment Funds Total 2023 Total ZD22 Letting of premises Trading Income 694 600 6,694 27 7,388 627 6,693 25 1,294 6,721 8,015 6,718 INVESTMENT INCOME Unrestricted Funds Restricted Funds Endowment Funds Total 2023 Total 2022 Bank interest General Investment Fund Rents investment properties Other investment income 585 1,427 2,012 554 1,263 1,263 1,281 585 2,690 3,275 1,835 14
SECOND KILREA CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) 31 December 2023 RAISING FUNDS Unrestricted Funds Restricted Funds Endowment Funds Total 2023 Total 2022 FWO envelopes Church BBQ 206 206 211 206 206 211 CHARITABLE AcfiviTIES Unrestrirted Restricted Endowment Funds Funds Funds Total 2023 Total 2022 General Assembly Assessments Presbytery fees Ministry and support staff costs Congregational running expenses Donations to Missions and charities Governance costs 1,374 151 11,187 10,526 3,863 1,830 1,374 151 11,187 13,575 11,130 1,830 1,668 139 10,062 8,832 16,634 1,800 3,049 7,267 28,931 10,316 39,247 39,135 15
SECOND KILREA CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) 31 December 2023 OTHER EXPENDITURE Unrestricted Funds Restricted Endowment Funds Funds Total 2023 Tot31 2022 Investment pioperties expenses 2,055 2,055 9,960 2.055 2.055 9,960 FIXED A55ETS I he congregation owns the Church and hall premises situated at 69 Maghera Street, Kilrea, Co. Londonderry BT515QL, the Manse, outbuildings and land situated at 40 Blackrock Road, Kilrea, Co. Londonderry BT515XH, along with associated fixtures, fittings, plant and equipment. These currently have an insurance value of £1,294,000 and £393,000 at last renewal date. 10. INVESTMENTS The congregation has the following invegtments. Amounts are shown at market valuation. 2023 2022 General Investment Fund 15,541 15,541 Other Investment5 18,312 18,312 33,853 33,853 16
SECOND KILREA CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'dl 31 December 2023 11. FUND BALANCES Fund Balance at start Receipts Payment Surplus / Transfer Balance at (Deficit) end Unrestricted Funds Danske Bank No l a/c First Trust a/c Progressive Building Society Danske Bank Kennedy Adams Inv. 77,758 26,672 29,137 12,465) 2,563 77,856 52,391 312 756 312 52,703 10,397 9,641 130,150 27,740 29,137 (1,397) 12,204 140,957 Restricted Funds Danske Bank No 2 a/c (Property) Danske Bank Deposit (Prop) Danske Bank Deposit (Prop) First Trust Bank Deposit (Prop) Danske Bank Dep051t IDividends} Danske Bank Manse Rental Dan5ke Bank Kennedy Adams Trust Danske Bank Sunday School Danske Bank PW Danske Bank PW Catering United Appeal IDB No l a/cl WDA IDB No l a/c) Sunday School {DB No l a/cl Children's Society IDB No l a/c) Friendship Group IDB No l a/c} Turkey Earth. Appeal IDB No l a/c) Mums & Tots {DB No l a/cl Kilrea District LOL 4,713 11,662 J4.11112 25,703 27,185 6,381 8.411 815 1,148 1,477 3,835 29 471 463 1,610 6,108 700 376 1, 103 2,132 1,703 29 471 463 1,610 4,053 682 (594) 759 7,175 11,691 35,353 26,166 24,890 10,434 (3,905} 2,055 18 970 1,101 (9,093) 239 1,472 151 (1,472} 460 2,622 2,849 353 204 505 257 1,660 196 636 2,849 353 264 264 204 (204} 505 17 1,660 270 436 120 240 360 51 (74) 200 1231 200 122,812 21,355 12,371 8,984 {12,204) 119,592 Total Cash Funds 252 962 260 549 17
SECOND KILREA CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (convd) 31 December 2023 11. FUND BALANCES (convd) Balance at start Receipts Payment Surplus/ Transfer Deficit Balance at end Total Cash Funds fiNd 252,962 49,095 41,508 7,587 260,549 Investment Funds PCI Gen Investment Fund 4.25% Treasury Stock 11,790 18,023 323 659 323 659 (323) {659) 11,790 18,023 Endowment Fund5 PCI Gen Investment Fund 4.25% Treasury Stock 3,751 289 162 119 162 119 (162) (119) 3,751 289 33,853 1,263 1,263 (1,263) 33,853 Total 286,815 50,358 41,508 8,850 (1,263) 294,402 18