an FIRST BALLYMENA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND 5tATEMENt OF FINANCIAL ACtIVlTY For the year ended 31 Dernber 2023 Note Unrertricted Funds Restrirted Funds Total Funds 2023 Total Funds 2022 Income dnd Endowments Irom: t)onations and legacies Charitable activities Other trading activities Investments Other income 165,135 702 179.062 8,457 4.143 742 8.333 344.197 9.159 4,143 4.352 8,346 372,933 3.989 4,949 937 11.327 3.610 13 Total income 169.460 200,737 370.197 394.135 Expenditure on: Raising funds Charitable activities Other expenditure {8351 1140.0311 iioi 18351 1260,1801 110.9241 11.3701 1218.7181 111.5451 1120.1491 110.9141 Total expenditure Net Income {14076? 28.584 1131.063) 69,674 1271.9391 98.258 1231.6331 162.502 Transfers between funds Net movement in funds 1.936 30.520 11.9361 67,738 98.258 162,502 Reconciliation of funds: Total funds broughi forward Total funds carried for4vard 180,392 210.912 1.757.450 1,825,188 1.937,842 2.036.1 1.775.340 1.937.842 12
an FIRST BALLYMENA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND BALANCE SHEET As at 31 December 2023 Note Unrestricted Funds Restricted Funds Total Funds 2023 Total Funds 2022 Fixed assets: Tangible assets InvestmeiTrts Total fixed assets 12 13 1.717.958 1,717,958 11.G21 1.729,579 1,717,958 10.G93 1,728.651 11.621 11.621 1.717.958 Current assets: Debtors and prepayments Cash at bank and in hand Total current asset5 14 15 13,550 96,734 110.284 18.550 293.165 311.715 27.529 262.461 289,990 196.431 201.431 Liabilities: Creditors.. due within one ye8r 16 {2,1401 li.U541 15,1941 180,7991 Net ¢urrent assets 199,291 107.230 306.521 209.191 Total assets less current liabilities 210.912 1,825.188 2.036.1 1,937,842 Total net assets 210,912 1.825.188 2.036.IlXI 1.937.842 Funds of the charity Unrestricted funds Restricted funds 17 17 210,912 210,912 1.825.188 180,392 1.757,450 1,825.188 Total charity funds 210.912 1,825,188 2.036.ItKI 1,937,842 Approved by the Xirk Session at a meeting on 201h March 2024 and signed on its behalf by Position.. Minister Position- Clerk of Session Rev Emerson McDowell Tom Hean 13
an FIRST BALLYMENA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2023 ACCOUNTING POLICIES BASIS OF FINANCIALSTATEMENTS The financial statements have been prepared in accordance with applicable accounting standards. While compliance with Statement of Recommended Practice Accounting and Reporting by Charities IFRS1021 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 historical cost cnnvpntion p.xr.vpt ft)r invp<tmpnt assets. which are shown at market value. The financial statements include 311 transactions. assets. and liabilities for which the congregation is rÈ%ponsible in law. They do not in¢ludc the accounts of church group5 that owe thesr affiliation to another body¥ nol those that are informal Eatherings of church members. PREPARATION OF AcOUs ON A GOING CONCERN BASIS The Church generally meets its day-to-day working capital requirements from its annual income. The Trustees have obtained and reviewed cash flow forecasts for the incoming year and based on these are satisfied that the Church has resour¢es to provide a reasonable ¢xpcctatron that it can continue to meet its financial obligat10115 a5 they fall due for the foreseeable future. Therefore, these financial statements have beer) prepared on a going concern basis. FUND AccoupifiNG Endowment funds arÈ funds, the capital of which must be retained either permanently or at the congregation's discretion,. the income derived from ihe endowment is to be used either 35 restricted or unrestrirted income funds depending upon the pltrpose for which the endowment wa5 established iii the first plaLe. Restricted funds comprise lal income from endowments which is to be expended only on the restricted purposes intended by the donor and Ibl revenue donations or grants for a specific congregational activity intended by the donor. Where these funds have unspent balances, interest on their pooled imiestment is apportioned to the individual funds on an average basis. Unrestricted funds are iiicoT)be luiids wliiLIi div Lu sp¥iII uii cLuevlIlTrn'5 general purposes. Designated fund5 are general funds set aside by congregation for use in the future. INCOMING RESOURCES Recognition of incoming resources These are included in the Statement of Financial Activities ISOFAI when: The congregation becomes entitled to the fesources. The trustees are vtrtu3lly certain they will receive the resources- a1 The monetary value can be measured with stsfficient reliability. Incorning resources with related expenditure Where incoming resources have related expenditure las with fijndraising income) the incoming resources and related expenditure are reported gross in the SOFA. Grants and donations Grants and donations are only intluded in the SOFA when the congregation has unconditional entitlement to the re59urce5. Tax reclatllls on doiiaiiun) <ind ¥ifts Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate. 14
an FIRST BALLYMENA CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS Iconvdl ACCOUNTING POLICIES Iconvd) Contractual income and performance related Erants This is only included in the SOFA once the related goods or services have been delivered. Glfts In klnd Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually reali5ed. 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 intluded in the SOFA as incoming resources when receivable. Donated services and facilities These are only Inclu(Jed in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably qvantifiable, me3surable. and material. The value placed on these resources is the estimated value to the tharity of the service orfacility received. Volunteer help The value of any voluntary help CeiVed 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 Eains and losses This inclL*des any gain or105S On the sale of investments and any gain or loss resulting from revalLFing 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 construrtive obligation committing the congregation to pay out resources. Governance costs These ir¢clude costs of the prep8r3tion and examination of statutory accounts. the cost5 of trustee meetings and cost of any legal advice to trustees on governance or constittstional matters. Grants with performance conditions Where the charity 8ives a grant with conditions for it5 payinei)t beir)8 a SV¥LifiL IEvel vl 5eJviLe vi uulput tu 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 afe only recognised in the account£ whpn A r(Jmmitmpnt has been made and there are no conditions to be met relating to the grant which remoin in the control of the charity. AET5 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 £2.JOO. They are valued 8t C05t or. tf gifted, at the value to tlie iliarily uii r¥IFl. depreLld¢iuii IS LlidJ¥eLI iri tlie accounts as the assets are kept in good state of repair. 15
an FIRST BALLYMENA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNT5 Iconfdl ACCOUNTING POLICIES Iconi'dl Investments Investments quoted on a recosni5ed Stock exchange are walued at market value at the year end. Other investment a55et5 are included at trustees. best estimate of market value. DONATIONS AND LEGACIES Unrestritted Ftsndg Restricted Funds Total Funds 2023 Total Funds 2022 Recorded glvlng Loose collections Gift Aid Legacies and bequest 133.623 3.460 28,052 144.509 8,825 25,728 278,132 12,285 53,780 294,339 10,044 60,971 7,579 372,933 165.135 179.062 344,197 CHARtTA8LE ACTIVITIES Unrestricted Funds Restrirted Funds Total Funds 2023 Total Funds 2022 Income from charitable activities Publications 8.457 8.457 702 3,314 675 702 702 8,457 9.159 3.989 OTHER TRADING A1VITIEs Unrestrirted Restrirted Funds Funds Total Funds 2023 Total Funds 2022 Fundraising events 4.143 4.143 4.143 4,143 4.949 4,949 INVESTMENTS Unrestrirted Funds Restricted Funds Total Fynd$ 2023 Total Furkd$ 2022 Deposit interest General investment fund Gain oft revaluation 2,452 220 938 742 3.194 220 938 708 229 3.610 742 4.352 937 16
an FIRST BALLYMENA CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTE3 TO TtrIE ACCOUNT5 IconfO} OTHER INCOME Unrestrirted Restricted Funds Totsl Funds 1023 Total Funds 2022 Grant5 received Retirement gift Other sn¢ome 4.500 3,265 4.970 3,092 11.327 13 3,833 8.333 3.846 8.346 13 RAISING FUNDS Unrestricted Funds Restricted Funds Total Funds 2023 Total Funds 2022 FWO envelopes 835 835 835 835 1.370 1.370 CHARITABLE A1vITEs Unrestrirted Furtds Restrirted Funds Total Funds 2023 Total Funds 2022 General Assembly Assessments Presbytery fees Ministry and support staff costs Congregational running expenses Donation5 to missions & chariiies Governance cost5 15.120 15,120 664 115,222 71,547 54,949 2.678 260,180 15,222 696 89,072 54,669 56.310 2,749 218,718 115.222 6,933 64.614 54,949 586 2.092 140.031 120,149 OTHER EXPENDITURE Unrestricted Fund5 Restricted Funds Total Funds 2023 Total Funds 2022 Repairs and mair¢tenance Retirement gift LOSS on investment revaluaiion 10.914 10,914 4.972 yy io iu io 10,914 10,924 11.545 17
Presbyter an FIRST BALLYMENA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS Iconvdl 10. EMPLOYEE5 Employment Costs 2023 2022 Wage5 and Salaries 13.944 13.755 Number of employee Tlie *iverd8e number of employees during ihe year was 2023 2022 Average number of employees There were no employees in receipt of employee benefits in excess of £60,(XXI. The ministef and the 35sOClate minister of the congregation are employees of the Presbyterian Church in Ireland, which is a separate charity and they have not been reflected in the employee costs and average number of employees above. The congregation pays an assessment to the Presbyterian Church in Ireland for both the minister and the associate minister. The following amounts were paid during the year= Total 2023 Total 2022 Minister stipend Associate minister stipend 29.896 30.475 14,419 28,746 11. PENSION COSTS The minister5 of the congregation are members of the Presbyterian Church in Ireland Pension Scheme120091. Thi5 IS a scheme operated by the Presbyterian Church in Iland, a separate registered charity. The congregation pay5 an assessment to the Presbyterian Church in Ireland equivalent to the employerfs pension contribtstion for the Scheme and based on the stipend paid to the minister. The Presbyterian Church in Ireland Pension Scheme120091 is a funded Scheme of the defined benefit type, providinE defined benefits based on career averaeed revalupd salary. Thp £r.hpmo hA% x%<ptÉ 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 15 sufficiently funded to meet current and future obligations. A formal schedule of cofttributions was drawn up on 25 November 2015 whereby the Presbyterian Church agrÈed 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 con8re8ation durinE the year were= 2023 2022 Contribution5 14,489 10,359 The congregation operates a defined pension contribution scheme for its employees, which is held by an independent Scheme mana8er. The employee opted out of the scheme and therefore there is no pension charge in the Statement of Financial Activity during the year. 18
an FIRST BALLYMENA CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS Iconfdl 12. TANGIBLE FIXED ASSErs Building and contents Total COST OR VALUATION At l January 2023 Additions Disposals At 31 December 2023 1,717,958 1,717,958 1.717.958 1.717.958 DEPRECIATION At l January 2023 Charge for the year Eliminated on disposal At 31 December 2023 NET BOOK VALUE At 31 December 2023 1.717.958 1.717,958 1,717.958 At 31 December 2022 1.717.958 The 8ssets of the Church comprise= Church buildin& stores. and contents Chur¢h hall bu¢lding and ¢onterrts Manse at 19, Galgorm Road. Ballymena All tangible fixed assets are included in the balance sheet at professional valuations obtained from external independent valuers in 2021. No depreciation ha5 been provided on these assets as the current estimated residual value is not less than the carrying value and the remaining useful life currently eXed5 50 years. Thts is reviewed on an annual basis by the Trustees. 13. INVESTMENTS 2023 2022 PCI General Investment Shares in Barclays 8ank 11.301 320 10.363 330 11.621 10.693 2023 2022 Value as at 1st january 2023 Gainlllossl on revaluation Value a5 at 31Jl December 2023 10,693 928 11.621 11.681 19881 10,693 19
an FIRST BALLYMENA CONGREGATION OFTHE PRESBERlAN CHURCH IN IRELAND NOI ES TO THE ACCOUNTS Iconfdl 14. DEBTORS 2023 2022 Gift aid recoverable Prepayments 13,000 5,550 18,550 17,000 10.529 27,529 15. CASH AT BANK AND IN HAND 2023 2022 Cash in hand 293.165 293.165 262.461 262.461 16. CREDITORS- amounts falling due within one year 2023 2022 Other ¢reditor5 and deferred income Accruals Interest free loans from members of the congregation 3,754 1.440 4.359 1.440 75,000 80.799 5.194 17. FUND BALANCES Unrestricted Funds Z023 2022 General fund Investments Account 199.291 11.621 210.912 169,699 10.693 180.392 Restricted Funds 2023 2022 Missionary Account Hoii%gkppJ)irtg Arrnijnt Property Development Account Charitable Support Ac£ount Tots First Account Catering Account Indoor Bowling Club Account First Grace Account First Toiich Account PW Account On The Move Club AccoLtnt Luncheon Club Account Sunday School Account 713 Club Account First Coffee Account Boys 8riBadè Aetount Girls 8riÈade Account Helpi1i8 Haiids Accouiit 4,989 82,342 1,706.988 9.489 228 697 445 2,313 4ss 5.929 95.318 1.625.928 8,874 230 622 460 2,039 450 609 59 2.035 4.380 3.216 4,478 2,402 412 4,931 5,319 4.309 1.237 492 1.825.188 1.757.450 20
an FIRST BALLYMENA CONGREGATION OF THE pRE5BERrAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS l¢ont'dl FUND BALANCES Iconvdl Reconcillatlon of movement of funds Opening balance Income Expenditure Transfers C105inB balance Unrestrirted Funds General Fund lftve5tments Account 169,699 10,693 180,392 168.522 938 169.460 1140,8661 iioi 1140,8761 1.936 199.291 11.621 210.912 1.936 Restrirted Funds Missionary Account Hou&ekeepin8 Account Property Development Account ChaTjtable Support AccOnt Tots First Account Catering Account Indoor 8owling Club Account First Grace AccoL¢nt First Touch Ac¢ount PW Account On The Move Cl¢Jb Account Luncheon Club Account St2nday School Account 711 f.lijh Arrnijnt First Coffee Account Boys Drigade Account Girls Brigade Actount Helping Hands Account 5.929 95.318 1.625.928 8.874 230 622 460 2.039 39.852 49,166 81,283 12,883 140,2921 162.3921 12231 112.2681 16061 1301 11801 14841 1601 12.4151 1651 15691 iioi 11.9891 12.0791 13,1091 13,6321 16601 1131.0631 15¢x)I 250 4,989 82,342 1,706,988 9,489 228 697 445 2,313 455 888 105 315 258 11501 500 65 2.694 133 1651 59 2,035 4.380 3,216 4.478 2.402 412 12.0251 2.540 4.182 2,940 2.378 740 4.931 5.319 4,309 1,237 492 89 1.757.450 200.737 11.9361 1,825.188 Total 1.937.842 370,197 1271.939) 2,036,100 Analysls of closing funds Unrestricted Funds Restricted Funds Total Funds 2023 Total Funds 2022 11.621 201,431 12,1401 210,912 1.717.958 110.284 13.OS41 1.825.188 1,729,579 311,715 15,1941 2,036,100 1.728.GS1 289.990 180.7991 1.937.842 Current assets Current liabilities Total funds 21
an FIRST BALLYMENA CONGREGATION OFTHE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS Icont'dl 18. Related Party Transactions Rev Emerson McDowell is a trustee of the church. In his capacity as the minister of the corigregation he received remuneration of E2Y,896 and 8n expenses allowance ot £4.653. Rev Matthew Boyd is a trustee ot the church. In his capacity a5 the associate minister of the conAreRation he received remuneration of £30.475 and an experhses allowance of £5.637. Pension contributions of £7.175 and £7.314 respectively were 3150 paid by the congregation in respect of them to the Presbyterran Church in Ireland Penston kheme120091. Employerfs NIC of £7,533 was paid to the Presbyterian Church in Ireland for both ministers. The following payments were rrtade to Trustees in respect of reimbursernent of expen5e5. lame5 Donaghv1£181.601, Rodney Wright1£319.721. Ivan McNeill1£793.401. Tom Heaney1£290.001 Kay Lorimer1£218.581 and Stgphpn l amont If174 871 During The year the congregaiion contributed ihe following amounts io Funds of the General Assembly of the Presbyterian Church in Ireland, a separate charity.. Assessments United Appeal 15.120 13,500 Thprp wprp nn nthpr rplxtpd pxrty trxnsxrtions. 22