CONNOR CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
STATEMENT OF FINANCIAL ACTIVITY
For the year ended 31 December 2023
| Note Income and Endowments from: Donations and legacies 2 Charitable activities 3 Other trading activities 4 Investments 5 Other 6 Total Expenditure on: Raising funds 7 Charitable activities 8 Other 9 Total Net Income/(expenditure) Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted Funds £ 176,325 1,706 - 863 - 178,894 (1,081) (137,660) - (138,741) 40,153 100 40,253 290,039 330,292 |
Restricted Funds £ 163,993 14,650 1,678 70 - 180,391 - (156,723) - (156,723) 23,668 (100) 23,568 1,966,724 1,990,292 |
Endowment Funds £ - - - - - - - - - - - - - 72,911 72,911 |
Total Funds 2023 £ 340,318 16,356 1,678 933 - 359,285 (1,081) (294,383) - (295,464) 63,821 - 63,821 2,329,674 2,393,495 |
Total Funds 2022 £ 302,647 19,656 1,955 527 711 |
|---|---|---|---|---|---|
| 325,496 | |||||
| (1,081) (260,698) - |
|||||
| (261,779) | |||||
| 63,717 - |
|||||
| 63,717 2,265,957 |
|||||
| 2,329,674 |
8
an CONNOR CONGREGATION OF THE PREs8ERlAN CHURCH IN IRELAND BALANCE SHEET As al 31 Decernber 2023 Note Unrestrirted Funds Rèstrlcted End¢>wment Funds Funds Total Funds 2023 Toial Funds 2022 Fixed assets: Tangible a55ets Total fixed assets 12 157.905 157.905 1,795.225 1.795.225 1.953,130 1.953.130 2,001,674 2.th)1.674 Current assets: Debtors Cash at bank and in hand Total current assets 13 14 26,522 147.305 173,827 29.856 165.211 195.067 56,378 385.427 441.805 61,440 268.000 329.440 72,911 72,911 Creditors.. amounts fallin8 due within one year 15 11.4401 11.4401 11,4401 Net current assets 172.387 195.067 72.911 440,365 328,IX Total assets less current 330,292 1,990.292 72,911 2,393,495 2.329.674 Credltors.. amounts fallln8 due after one year Total net assets 330.292 1.990.292 72.911 2.393.495 2.329,674 Funds of the chorlty Restricted funds Unrestricted funds Endowment funds 16 16 16 1,990,292 1,990,292 330,292 72,911 1.966,724 290,039 72,911 330,292 72,911 Total charity funds 330.292 1,990,292 72,911 2,393.495 2.329.674 Approved by the Kirk Session at a meetlng on 16 May 2024 and signed on its behalf bv VJJ.V l- Rev Phi14p David Thornp50n Trustee Mr Ala5toir John Greer Trustee
CONNOR CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
NOTES TO THE ACCOUNTS
31 December 2023
1. Accounting policies
BASIS OF FINANCIAL STATEMENTS
The financial statements have been prepared in accordance with applicable accounting standards. While compliance with Statement of Recommended Practice Accounting and Reporting by Charities (FRS102) is not mandatory account of the guidance contained therein has been taken in the preparation of these accounts.
The financial statements have been prepared under the historical cost convention except for investment assets, which are shown at market value. The financial statements include all transactions, assets, and liabilities for which the congregation is responsible in law. They do not include the accounts of church groups that owe their affiliation to another body, nor those that are informal gatherings of church members.
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 (a) 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 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.
INCOMING RESOURCES
Recognition of incoming resources
These are included in the Statement of Financial Activities (SoFA) when:
-
The congregation becomes entitled to the resources.
-
The trustees are virtually certain they will receive the resources; and
-
The monetary value can be measured with sufficient reliably.
Incoming resources with related expenditure
Where incoming resources have related expenditure (as with fundraising income) the incoming resources and related expenditure are reported gross in the SoFA.
Grants and donations
Grants and donations are only included in the SoFA when the congregation has unconditional entitlement to the resources.
Tax reclaims on donations and gifts
Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to which they relate.
Contractual income and performance related grants
This is only included in the SoFA once the related goods or services have been delivered.
Gifts in kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SoFA as incoming resources when receivable.
10
CONNOR CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
NOTES TO THE ACCOUNTS (cont’d)
Donated services and facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable, and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
Volunteer help
The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.
Investment income
This is included in the accounts when receivable.
Investment gains and losses
This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
EXPENDITURE AND LIABILITIES
Liability recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the congregation to pay out resources.
Governance costs
These include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with performance conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output.
Grants payable without performance conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, e.g., allocating property cots by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Tangible Fixed Assets
Tangible fixed assets for use by charity. These are capitalised if they can be used for more than one year and cost at least £500. They are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation is recorded on all tangible fixed assets other than freehold land, at rates calculated to write of the cost less estimated residual value, of each asset over its expected useful life as follows.
Buildings -over 50 years Fixtures, fittings, and equipment -over 10 years Motor Vehicles -over 4 years Computers, software, and technical equipment -over 4 years
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CONNOR CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
NOTES TO THE ACCOUNTS (cont’d)
Investments
Investments are quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees’ best estimate of market value.
2. DONATIONS AND LEGACIES
| Recorded giving Loose collections Donations and gifts Gift Aid Legacies and bequest |
Unrestricted Funds £ 156,446 3,846 265 15,768 - 176,325 |
Restricted Funds £ 112,529 5,255 19,669 26,540 - 163,993 |
Endowment Funds £ - - - - - - |
Total Funds 2023 £ 268,975 9,101 19,934 42,308 - 340,318 |
Total Funds 2022 £ 163,104 10,062 23,220 33,350 72,911 302,647 |
|---|---|---|---|---|---|
3. CHARITABLE ACTIVITIES
| Income from charitable activities Fees from weddings and funerals Grants |
Unrestricted Funds £ 1,706 - - 1,706 |
Restricted Funds £ 9,650 - 5,000 14,650 |
Endowment Funds £ - - - - |
Total Funds 2023 £ 11,356 - 5,000 16,356 |
Total Funds 2022 £ 15,006 850 3,800 19,656 |
|---|---|---|---|---|---|
4. OTHER TRADING ACTIVITIES
| Letting of premises | Unrestricted Funds £ - - |
Restricted Funds £ 1,678 1,678 |
Endowment Funds £ - - |
Total Funds 2023 £ 1,678 1,678 |
Total Funds 2022 £ 1,955 1,955 |
|---|---|---|---|---|---|
5. INVESTMENTS
| Deposit interest | Unrestricted Funds £ 863 863 |
Restricted Funds £ 70 70 |
Endowment Funds £ - - |
Total Funds 2023 £ 933 933 |
Total Funds 2022 £ 527 |
|---|---|---|---|---|---|
| 527 |
6. OTHER INCOME
| Unrestricted | Restricted | Endowment | Total Funds | Total Funds | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| Other income | - | - | - | - | 711 |
| - | - | - | - | 711 |
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CONNOR CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
NOTES TO THE ACCOUNTS (cont’d)
7. RAISING FUNDS
| FWO envelopes 8. CHARITABLE ACTIVITES General Assembly Assessments Presbytery fees Ministry and support staff costs Congregational running expenses Donations to missions & charities Governance costs |
Unrestricted Funds £ 1,081 1,081 Unrestricted Funds £ 29,704 618 75,240 29,454 503 2,141 137,660 |
Restricted Funds £ - - Restricted Funds £ - - - 113,479 43,034 210 156,723 |
Endowment Funds £ - - Endowment Funds £ - - - - - - - |
Total Funds 2023 £ 1,081 1,081 Total Funds 2023 £ 29,704 618 75,240 142,933 43,537 2,351 294,383 |
Total Funds 2022 £ 1,081 |
|---|---|---|---|---|---|
| 1,081 | |||||
| Total Funds 2022 £ 28,912 628 71,673 106,419 50,782 2,284 |
|||||
| 260,698 |
9. OTHER EXPENDITURE
| Loan interest | Unrestricted Funds £ - - |
Restricted Funds £ - - |
Endowment Funds £ - - |
Total Funds 2023 £ - - |
Total Funds 2022 £ - |
|---|---|---|---|---|---|
| - |
10. EMPLOYEES
Employment Costs
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 65,354 | 61,829 |
| Social Security Costs | 5,756 | 5,652 |
| Pension contributions | 10,465 | 9,967 |
Number of employees
The average number of employees during the year were:
| 2023 | 2022 | |
|---|---|---|
| No | No | |
| Average number of employees | 3 | 3 |
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CONNOR CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
NOTES TO THE ACCOUNTS (cont’d)
11. PENSION COSTS
The minister of the congregation is a member of the Presbyterian Church in Ireland Pension Scheme (2009). This is a scheme operated by the Presbyterian Church in Ireland, a separate registered charity. The congregation pays an assessment to the Presbyterian Ch urch in Ireland equivalent to the employer’s pension contribution for the Scheme and based on the stipend paid to the minister. The Presbyterian Church in Ireland Pension Scheme (2009) is a funded Scheme of the defined benefit type, providing defined benefits based on career averaged revalued salary. The Scheme has assets held in a separately administered fund managed by a board of trustees. The Presbyterian Church and the Scheme Trustees have agreed a funding plan to ensure the Scheme is sufficiently funded to meet current and future obligations. A formal schedule of contributions was drawn up on 25 November 2015 whereby the Presbyterian Church agreed to pay from 31 December 2015 contributions of 24% of pensionable salaries to cover the accrual of benefits for future service, expenses, the cost of insuring death in service benefits and funding the scheme deficit.
The contributions made by the congregation during the year were.
| Contributions 12. TANGIBLE FIXED ASSETS COST OR VALUATION At 1 January 2023 Additions Disposals At 31 December 2023 DEPRECIATION At 1 January 2023 Charge for the year Eliminated on disposal At 31 December 2023 NET BOOK VALUE At 31 December 2023 At 31 December 2022 13. DEBTORS Gift aid recoverable |
Farmland £ 157,905 - - 157,905 - - - - 157,905 157,905 |
Church 2,850,000 - - 2,850,000 2,850,000 - - 2,850,000 - - |
Church Hall £ 1,992,200 - - 1,992,200 435,531 39,844 - 475,375 1,516,825 1,556,669 |
Church Hall £ 1,992,200 - - 1,992,200 435,531 39,844 - 475,375 1,516,825 1,556,669 |
2023 £ 10,465 Manse £ 435,000 - - 435,000 147,900 8,700 - 156,600 278,400 287,100 2023 £ 56,378 56,378 |
2023 £ 10,465 Manse £ 435,000 - - 435,000 147,900 8,700 - 156,600 278,400 287,100 2023 £ 56,378 56,378 |
2022 £ 9,967 Total £ 5,435,105 - - |
|---|---|---|---|---|---|---|---|
| 5,435,105 | |||||||
| 3,433,431 48,544 - |
|||||||
| 3,481,975 | |||||||
| 1,953,130 | |||||||
| 2,001,674 | |||||||
| 2023 £ 56,378 56,378 |
2022 £ 61,440 |
||||||
| 61,440 |
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CONNOR CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
NOTES TO THE ACCOUNTS (cont’d)
14. CASH AT BANK AND IN HAND
| Danske Charity Account Danske Bank Sunday School Current Account Danske Bank Sunday School Deposit Account First Trust Sunday School Current Account Bowling Club Presbyterian Women Boys Brigade Girls Brigade PayPal balance |
2023 £ 359,674 2,539 1,096 513 559 1,556 10,214 7,152 2,124 385,427 |
2022 £ 245,147 2,732 1,082 483 1,014 208 10,406 6,708 220 |
|---|---|---|
| 268,000 |
15. CREDITORS: amounts falling due within one year
| Accruals | 2023 £ 1,440 1,440 |
2022 £ 1,440 |
|---|---|---|
| 1,440 |
| 16. FUND BALANCES (i) Unrestricted Funds General fund |
2023 £ 330,292 330,292 |
2022 £ 290,039 |
|---|---|---|
| 290,039 |
(ii) Restricted Funds
| Property Fund Mission Fund Cemetery Fund Sunday School Bowling Club Presbyterian Women Boys Brigade Girls Brigade |
2023 £ 1,856,239 69,172 40,252 4,148 560 1,555 11,214 7,152 1,990,292 |
2022 £ 1,894,004 9,870 39,217 4,297 1,014 208 11,406 6,708 |
|---|---|---|
| 1,966,724 |
(iii) Endowment Funds
| Endowment fund | 2023 £ 72,911 72,911 |
2022 £ 72,911 |
|---|---|---|
| 72,911 |
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CONNOR CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
NOTES TO THE ACCOUNTS (cont’d)
| (iv) Reconciliation of movement of funds Opening balance £ Unrestricted Funds General Fund 290,039 290,039 Restricted Funds Property Fund 1,894,004 Mission Fund 9,870 Cemetery Fund 39,217 Sunday School 4,297 Bowling Club 1,014 Presbyterian Women 208 Boys Brigade 11,406 Girls Brigade 6,708 1,966,724 Endowment Funds Endowment Fund 72,911 72,911 Total Funds 2,329,674 |
Income £ 178,894 178,894 52,033 99,419 5,873 62 340 5,443 4,817 12,404 180,391 - - 359,285 |
Expenditure £ (138,741) (138,741) (89,798) (40,117) (4,838) (211) (694) (4,096) (5,009) (11,960) (156,723) - - (295,464) |
Transfers £ 100 100 - - - - (100) - - - (100) - - - |
Closing balance £ 330,292 |
|---|---|---|---|---|
| 330,292 1,856,239 69,172 40,252 4,148 560 1,555 11,214 7,152 |
||||
| 1,990,292 72,911 |
||||
| 72,911 | ||||
| 2,393,495 |
17. Related Party Transactions
Rev Philip Thompson is a Trustee and received renumeration of £44,103 (2022: £41,526) and pension contributions of £10,465 (2022: £9,967) through PCI with £6,943 (2022: £6,810) expenses being paid by the church.
Alistair Greer is a Trustee and received renumeration of £12,656 (2022: £11,555) in respect of his duties as caretaker during the year.
16