BANAGHER CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY IRecelpts and Payment Account) for the year ended 31 December 2023 Unrestrlcted Funds Restricted Endowment Funds Funds Total 2023 Total 2022 Note Recelpts Donations and legacies Charltable activities Investment Income 279,330 60,077 14,945 6,416 339,407 14,945 12,230 107,605 17,670 12,340 5,814 285,144 81,438 366,582 137,615 Sale of Investments Sale of fixed assets Loans Received Total Recelpts 285,144 81,438 366.582 137,615 Payment5 Raislng funds Charltable actlvltles 238 63,234 63,472 238 96,825 97,063 287 103,728 104,015 33,591 33,591 Purchase of Investments Purchase of flxed asset5 Loan Repayments 2160 4,830 6,990 11,016 Total Payments 65,632 38,421 104,053 115,031 Net receipts / (payments) Transfers between funds 219,512 -3000 43,017 3,000 262,529 22,584 Net movement In funds Funds brought forward 216,512 69,841 46,017 127,290 262,529 197,131 22,584 174,547 Funds carrled forwa rd 286.353 173,307 459,660 197,131
BANAGHER CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF ASSETS AND LIABILITIES AS AT 31 December 2023 7. FIXED ASSErs The congregation owns the Church premises and Century Hall, Youth centre and a potracabin and small store at 8 Ballyhanedin Road, Feeny BT47 4EP and a manse, purchased in October 2016, sltuated at 14 Kllcul Rd Claudy BT47 4BY. The Insurance Broker's valuation for all bulldings for 2021 and 2022 are set out below. The congregation also owns 39.5 acres of agrlcultural land at Ballyhanedln Road. FIXED ASSETS Values from insurance schedule Broker AJ Gallagher Church Bulldings and contents Store Bulldin8 and contents Church Hall and contents Youth Centre and contents Portacabin and Contents Manse and bulldings Agricultural land as valued by the trustees 2023 Z022 1,428,113 27,528 430,155 86,028 8,348 682,849 250,000 1,328,477 25,607 400,145 80,026 7,765 635,209 250,000 8. INVESTMENTS All Investments at 31st December 2023 and 2022 were held by the General Investment Fund of the Presbyterian Church In Ireland. General Investment Fund 358,947 329,158 Unrestrlcted Restrlcted Endowment Funds Funds Funds Total 2023 Total 2022 Funds Reconclllatlon Note Bank & cash at start of year Net movement In funds Bank & cash at end of year 69,841 216,512 286353 127,290 46,017 173,307 197,131 262,529 459,660 174,547 22,584 197,131 Bank and Cash Balances Bank Current Accounts 197,131 174,547 Other Assets Fixed Asset5 Inve5tmentS Gift Aid receivable on donations 2022 Gift Aid recelvable on donatlons 2023 14,348 14,641 14,641 Total 14,348 Llabllltles Loans Approved by the Kirk Sesslon at a meetlng on 1st March 2023 and slgned on its behalf by erek Hood Trustee Ivan J Montgomery Clerk of Kirk Sesslon
BANAGHER CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2023 I. ACCOUNTING POLICIES BASIS OF FINANCIAL STATEMENTS As the total income of the congregation is less than £250,000 the congregation has 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, FUNDACCOUNTING 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 dependlng 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 donatlons or grants for a speclfic con8regatlonal activity intended by the donor. Where these funds have unspent balances, Interest on thelr pooled Investment Is apportloned to the indivldual funds on an average balance basis. unrestricted funds are income funds whlch 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. 2. DONATIONS AND LEGACIES Unrestrlcted Restrlcted Endowment Funds Total Total Funds Funds 2023 2022 Recorded giving Loose collections Donations & gifts Gift Aid Other Legacies & bequests 57,122 708 895 9,502 1,103 210,000 279 330 28,462 696 23,403 6,080 1,436 85,584 1,404 24,298 15,582 2,539 210,000 339 407 81,679 2,106 6,410 14,338 3,072 60,077 107 605
BANAGHER CONGREGATION OF THE PREs8YfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (rontinued) 31 December 2023 Unrestrlcted Restrlcted Endowment Funds Funds Funds Total 2023 Total 2022 3. CHARITABLE ACTIVITIES Income from charTtable artivitles Weddings & funerals Fundraisin8 events Memberships Grant5 6,715 6,715 1,525 8,230 14,945 8,230 14,945 16,145 4. INVESTMENT INCOME Bank interest Investment interest Farm lettings 420 844 4,550 5,814 257 6,159 677 7,003 4,550 519 7,271 4,550 12,340 6,416 5. RAISING FUNDS FWO envelopes 238 238 287 6. CHARITABLE ACTIVITIES General Assembly Assessments Presbytery fees Ministry & support staff Congregational running expenses Donations to Mlsslons etc Governance costs 9,546 400 23,200 28,865 623 600 9,546 400 24,422 49,306 12,551 600 13,126 398 41,779 30,955 16,870 600 1,222 20,441 11,928 103 728 7. FIXED ASSETS The congregatlon owns the Church premises and Century Hall, Youth Centre, a portacabin and small store at 8 Ballyhanedin Road, Feeny BT 47 4EP. 8. INVESTMENTS All investments at 31st December 2023 were held by the General Investment Fund of the Presbyterian Church in Ireland.
BANAGHER CONGREGATION OF THE PRESBYfERIAN CHURCH IN IREIAND NOTES TO THE ACCOUNTS (contlnued) 31 December 2023 9. FUND BALANCES Fund Balance at start Receipts Payments Transfers Balance at end Unrestricted Funds General Fund 69,841 285,144 -3,000 286,353 Restrlcted Funds Mlsslons and Charitles Property Fund Sunday School Presbyterian Women Glrls Brigade Boys Brigade Mission Commlttee Youth Council 115,761 2,359 4,414 1,704 1,096 694 1,262 127 290 24,713 1,290 3,363 5,901 6,741 2,747 24,914 3,481 895 4,164 6,275 5,941 1,033 4,863 136,993 2,754 3,613 2,830 3,396 2,408 21,313 173 307 1,500 1,500 3,000 Endowment Funds Totsl 197,131 354,813 459 660