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
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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 ExAM￿E￿ REMUNERATION
Total
96.1(VJ
74,￿4
170.783 198.362
2022
2021
EX￿nd￿￿reOn.
Ralsln8 funds
Charitable artivitie5
Examination of financial state￿￿ts
53.619
29.028
82.647
iC6.784
Otherfee5
Totsl
53,619
82,647
IL%,784
Net In￿Me/ (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
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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
3￿4.011
3,584.011
TOTAL Restritted Fundj 3,658,128
74*74
29,028
1901 3.703.683
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DALAt4CE SHEEf (Continued}
A5 at 31 December 2022
2022
2021
General Imiestment
32.021 32.017
32.021 32.017
F￿d$ 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 ￿t￿nal investmÈnt has been received back however notlce was
received on 2￿janUary 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
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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 p￿paring 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, t￿1th are shown at marketvalue. The financial statements include all
rsaction5. assets and Ilat411tles for ¥¥hich the cOng￿ty10n 15 responslble In law. They do
not include thè acCo￿ts 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 estèb1￿hed 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 fl￿￿5 c(ryi* la? tncom?frDrn endowments which is to be expended only an
the restricted purposes intènded by the doTh)r and Ib) revenue donati￿5 or grants fora
specific cOngregat￿ONal ¥tivity intended bythe donor. Wherèthe5e fvnds have unspent
balances, interest on thelr pooled Investment is apportloned to the indlvidual f¥Jnds on an
a￿l3¥e balance bas1&
UnreStr1rt￿frJnds are 5rthme T•hith areto be spent on the CL￿8regation'SBÈneral
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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 r￿1Ve the resowces: and
. the monetsryvalue can be measured with suffKient retiablv.
General Assernbly ASseS￿ts
PreS￿ery fees
Ministryand swp)rtstaff costs
Cor6regatlonal runnin8
expenses
Donations to Mi$5iorts and
charft*s
8,718
558
8.n8 31,147
558
(ill Incomlng resourceswhh r•lated exp•ndltyr•
Where incoming resourtts have related expendlture las with 1unthaisl￿ income)the
Incomlng re50urce5 and related exFenditure are reported gross in the SOF
42,843
9.254
52,097 50.069
IIU} Grants and donatiQn5
Grants and donations are only included in the &JFA Twhen colvep￿ ho5
unconditional entitlement to the resour
21.274
21,274 25,120
52.199 30.528
82,647 106,784
Il¥) Tax redalm$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$9nents. £31147, Presbytuy fees. £448 and c￿lOnal runnlng experses.£35.S86
{¥) Volunte•r help
The vahje of any ¥O￿ntary help recelved Is not Included In the aCco￿nts but Is descrlbed In
thetrustees, annual report.
l¥l) In￿SIrn*rt lTruxne
This is included in the accounts when receivable.
{vll) Im¥estsnent lalns and1055es
Thls includes any gain or loss on the sale of investments arml anY8a￿ or1055 resuking from
revaluing investments to market value at the end of the year.
EXPENDITURE AND UABILtnES
(¥iii) Llablllty wogniloon
Liabilitles are reco8nised a$ 500n ast￿re Is a le801 or ￿n$t[￿￿1¥e obli8alion ￿MMItt1n$
the con8re8ation to pay out resources.
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NOTES TO THE ACCOUNTS I¢0￿d)
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 ￿¥01￿1 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 in￿rne In 2021 amounted to£L166. Al81fts In 2021were for
5tricted use.
RAISIMG FUNOS
Fundra15in8 events
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NOTESTO THE ACC(xipirs Icorfd)
NOTES TO THEACCOUNTS (coned)
31 o•c•m￿r 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 S￿1t 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- £3￿1$ 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 re￿iVed
102
UnrestrictrdmoniES lE￿rIEd in 2021 forcrther in%•ent Income amounted to £1.097.
102
All monies received in 2021 were for restricted use.
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