an Maln Street Garvagh Presbyterian Church a congregation of the Presbyterian Churth in Ireland Financlal Ststements for the year ended 31 December 2022 Re&1$ vAth the Charltycommlsslon for Northern Ireland NIC105Y7 IIPage
an Presbyter an STATEMENT(% FINANCK4LACTIVITY forthe year ended 31 De¢ember 2021 Duringtheyearthe congregation contrtbuied the following amounts to Funds of the General Assemblyof the PrÈsby¢erian Churth in Ireland a separate charity £8,718 for congregational assessments12021- £35.587) £7. towards the United Appeal12021- £7.4781 Donations and legades Charitable athitles Othertradingactlvlties Investments Other 91.141 7L672 162.813 191.368 102 The cOngregatk CDntributed £558 (202144481 towards Presbyory A55e55ment5 durin8 the year 97 1505 1.176 L185 5.707 There were no other related Vdrtytran5acii 3A89 IMDEPENDEiif ExAME REMUNERATION Total 96.1(VJ 74,4 170.783 198.362 2022 2021 EXndreOn. Ralsln8 funds Charitable artivitie5 Examination of financial statets 53.619 29.028 82.647 iC6.784 Otherfee5 Totsl 53,619 82,647 IL%,784 Net InMe/ (e*pendlttwe) Transfers between funds Gains111055e5 on revaluation of fixed assets 42.49) 90 9L578 15. FUNDS RECEIVED AS AN AGEIIT Duringtheyearfvnd5were collerted on behalf of th2 followin8 and directty paid to them; Ead Hai& Presbyterian Chldren's kniety, Tear Fund. United Appeal. Belfast City Mission& Leprosy missh) ModeratorfsAppe31. The totsl amounted to £8.732. Net movement In funds Reconciliatlon of funds= Total funds brought forward 42.580 4,148 45.556 3.658.128 9L578 3.rri276 3.610.698 Totsl fund5 carriedforw•rd 86.n8 3.703.684 3.790.412 3.702276 151Page
Presbyter Presbyter an 12. FUMD BALAIICES AND RECONUUATION OF FUNDS Balance at start Income Expend. Galnsl Transfer Losses BalantÈ at Ènd Unr•strfrted Funds General Fund As at 31 Decembw2022 44148 9&iC8 53.620 86.728 TOTAL UffestrklEd 44,148 96.iC8 53.620 Reslrkled Fund5 Property/Buildlng Fund 51606 5.626 131 105.976 Tangible assets 3.584,011 3.584.011 3.584.011 Unlted Appeal Fund CoNectlons & Glfts Fund Mlssl¢mary& Student Fund SundayS¢hool Fund 7.674 8.732 355 232 8.732 414 4,746 4W7 3,584011 3.584mi 3.584,011 2593 524 Caterlng Furyl Cafe Lknk Fund 218 311 Cwrent Investments 32.021 31021 174.379 32,017 86.248 Young Women's Fund Junior Bible Club Fund Youth Club Fund Presbyteiian Wornen Fund H20 Muffl5 & Tots Fund Hollday Blble Club Cash * bank and in hand li 1.259 861 430 466 IL2Tr)1 86.n8 86,6SI 61 514 258 396 172 4.527 86,n8 119.67Z 206AXI 118265 658 320 339 13191 321 Totsl Dr IlabiKtre5 86.n8 3.704683 3,pJo.411 3,niz276 74.117 74,674 29,028 119.672 FlxedAs¥et Fund 34.011 3,584.011 TOTAL Restritted Fundj 3,658,128 74*74 29,028 1901 3.703.683 141Page aip3ge
Presbyter DALAt4CE SHEEf (Continued} A5 at 31 December 2022 2022 2021 General Imiestment 32.021 32.017 32.021 32.017 Fd$ ofthe ¢harlty The Balance &4eet does not indude an Investment totsl for the balance of £41,840 that •Aain Street Gar¥0 Preknerian Churth have had to leave Vested in the Presbyterian Mutual Sodety due to the Society belng In administration. A large amount of the tnal investmÈnt has been received back however notlce was received on 2janUary 2021 from the Presbyterian Mutual Sooety stating that as a result of an antiapated shortfall. there will be no further repayments to any other class of creditor or member. Flxed assets 3.584.011 3.S84,011 3.S84.011 Restrlcted Income fijr li 119.672 119.672 74.117 Unre51ricted funds 86.728 86,728 44.148 Total ¢harity funds 86.n8 3.703.683 3,Th)MII 4702276 2022 2021 Value at stsrtofyÈar AddttKJns 32.017 32,016 Interest Transfers Value at end of year 32,021 32,017 11. CASH AT&4NK AND114 HAND Approved by the Kirk Session at a meetin8 on and 4ned on its behalf by: 2022 2021 Mr Alan Farlow Clerk of Session Mr Ivan Wrlght Treasurer Ulster Bank current account 174.379 86.248 174,379 86.248 131P3gÈ
Prbyter Presbyter an TANGIBLE AXED ASWS 31 De¢ember 202 C05t orvaluatlon At start of year Additions Disposals 3.548,426 35.585 3,584,011 Th? financial statements have been prepared in accordance with Accourting and Reporting by Charities: Statement of Recommended practi applicab to tharities pparing their accounts in accordance with Financial Reportin8 Stsndard applicable In the UK arwj Ireland IFRS1021 leffecthre l Januay 20151. At end of year 3.548.426 35.585 3.584.011 OeprÈdation At start of year The finanaal statements have been prepared underthe historical tost conventton except for investment a55ets, t1th are shown at marketvalue. The financial statements include all rsaction5. assets and Ilat411tles for ¥¥hich the cOngty10n 15 responslble In law. They do not include thè acCots of chwchgroups that owe their affillatlon to another body. nor tknse that arn Infom)al 8ather5ngs of church members. At end of year Plet Book Value At start of year 3.584.426 35,585 3.584.011 Endowmentfvnds are funds. the capital of which must be retained either permanently or at the congregation's dls¢retion,' the income derived from the endowrnent is to be used either as restricted orunrestrirted income fund5 depending upon the purpose forwhichthe endowmentwas estèb1hed in the plac At end of ar 3.584.426 35.585 3y4.011 Addltlons of£49,739 for2020 are shown at cost t(ytherTArfth Ationsatcostln 2019 of £191,889 and 2018 of £1.126.458and 2017 of £92.6S7. EXtst1 bulldings at 1° January 2017 are rarrfed at Ingjra valuation and amountto £2.tY30,167 zThJfixture5 and fitt¢n8s alsoat Insur( ¥alue of £XI.I(X>. Restricted fl5 c(ryi* la? tncom?frDrn endowments which is to be expended only an the restricted purposes intènded by the doTh)r and Ib) revenue donati5 or grants fora specific cOngregatONal ¥tivity intended bythe donor. Wherèthe5e fvnds have unspent balances, interest on thelr pooled Investment is apportloned to the indlvidual f¥Jnds on an al3¥e balance bas1& UnreStr1rtfrJnds are 5rthme T•hith areto be spent on the CL8regation'SBÈneral 121Page 51Page
NOTESTOTHEAccoupirs 31 December2022 NOTESTO THEACCOUNTS (coAVd ACCOUPITING POLICIES l¢onVdl INCOMING RESOURCES {1) RecoBnilion of Incomin8 resour¢es These are included in the Statement of Financial Athities ISOFAI when: . the congregation bLromes entitled to the rès(NJrces: . the trustees are virtually rtain they will r1Ve the resowces: and . the monetsryvalue can be measured with suffKient retiablv. General Assernbly ASseSts PreSery fees Ministryand swp)rtstaff costs Cor6regatlonal runnin8 expenses Donations to Mi$5iorts and charfts 8,718 558 8.n8 31,147 558 (ill Incomlng resourceswhh r•lated exp•ndltyr• Where incoming resourtts have related expendlture las with 1unthaisl income)the Incomlng re50urce5 and related exFenditure are reported gross in the SOF 42,843 9.254 52,097 50.069 IIU} Grants and donatiQn5 Grants and donations are only included in the &JFA Twhen colvep ho5 unconditional entitlement to the resour 21.274 21,274 25,120 52.199 30.528 82,647 106,784 Il¥) Tax redalm$on don¥tlons and 81fts Incomin8 resources from tax reclaim5 are included in the SOFA atthe date of receipL Unrestrkted exp)dfjture In 2021 anwxnted to £67.181 and wasmade up of General Assembly Asse$9nents. £31147, Presbytuy fees. £448 and clOnal runnlng experses.£35.S86 {¥) Volunte•r help The vahje of any ¥Ontary help recelved Is not Included In the aCconts but Is descrlbed In thetrustees, annual report. l¥l) InSIrn*rt lTruxne This is included in the accounts when receivable. {vll) Im¥estsnent lalns and1055es Thls includes any gain or loss on the sale of investments arml anY8a or1055 resuking from revaluing investments to market value at the end of the year. EXPENDITURE AND UABILtnES (¥iii) Llablllty wogniloon Liabilitles are reco8nised a$ 500n astre Is a le801 or n$t[1¥e obli8alion MMItt1n$ the con8re8ation to pay out resources. IIIPage
an NOTES TO THE ACCOUNTS I¢0d) 31 Decembw 202Z These are cmly re¢o8nlsed In the accourrts when 4 commitment has beon made and there are conditiorts to be met retsting to the #rant which remain in the control of the charity. OTHER INCOME Ixl T•n8lbk AX Assets Tan8lble fixed assets for use by tharity are capltali5ed 5*they can be used for than one year, and Cost at least É3SQ). They are Valued at cost or, If gifted, atthe value to the charlty t re¢erpt. FLxed Assets ¥011 on the balan Sheet using insurance valuations and the policy adopted is to not depreciate. Mlscellaneous income Gifts 2.455 6.344 SD)7 3.889 6.394 5.707 tslj Im¢ts Investments quoted on a recognised sttxk eychange are valued at market value at the year end. Other Investsnent assets are included at trustee< best estimate of market vafue. Other unrestricted mtscellaneous inrne In 2021 amounted to£L166. Al81fts In 2021were for 5tricted use. RAISIMG FUNOS Fundra15in8 events IOIPage 71Page
Presbyter NOTESTO THE ACC(xipirs Icorfd) NOTES TO THEACCOUNTS (coned) 31 o•c•mr 2022 DONATIONSAND LEGACIES Recorded glvlng Loose collettlons FWO Gift Aid Legacies and bequest 55.9x1 S.774 S5) 78.C(YJ 7,968 4,842 75.362 74,836 23.583 36,681 Tr3din8 income 2.194 7S.362 13,Yd5 9998 gL141 71.672 162,813 191.368 Unrestricted funds In 2021 amounted to £91,841 and wwe S1t between Loose Q)Ilethons- £1.327, FWO-f74,836and Glft *knd- f15,67& Restrirted in the 2021 year awTh)untedto £99,527 and included Recorded 8ivln8-E78XrfJ9. Loose Colle¢tlons- £31$ andGfft aidof U&(M)3. CHAlelTABLE AcllvrnES GeneTrl Investm Fund Property Rents Cthew InVestr income 97 97 1.079 1.079 1.097 1.079 97 1,176 Fundraislng Èvents Grant5 reiVed 102 UnrestrictrdmoniES lErIEd in 2021 forcrther in%•ent Income amounted to £1.097. 102 All monies received in 2021 were for restricted use. 81Page 91Page