New Row Presbyterian Church a congregation of the Presbyterian Church in Ireland Financial Statements for the year ended 31 December 2022 Registered with the Charity Commission for Northern Ireland NIC105351 NEW ROW PRESBYTERIAN CHURCH a Congregation of the Presbyterian Church in Ireland STATEMENT OF FINANCIAL ACTIVITY for the year ended 31 December 2022 Unrestricted Restricted Endowment Total Funds Notes Funds Funds Funds Z022 Total Funds 2021 Donations and Legacies 135,788 90,165 225,953 228,379 Charitable actlvltles 1,579 8,003 9,582 8,219 Investments 115 1,085 1,200 1,169 Other Total 144 892 244 145 237 767 Expenditure on: Raising funds 721 721 794 Charitable activities 133 355 214 056 218 524 Total 134 076 214 777 219 318 Net Income / Expendlture 10,816 18,552 29.368 18,449 Transfers between funds 500 (5001 Gain5/llossesl on reva luation of investments 407 Net movement in funds Reconciliation of funds: Total funds brought forward 35,655 969.310 40,640 1,045,605 1,023,177 Total fund5 carried forward 46,971 987,362 31,233 1,065,566 1,045,605 NEW ROW PRESBYTERIAN CHURCH a Congregation of the Presbyterlan Church In Ireland BALANCE SHEET As at 31 December 2022 Unrestrlcted Restricted Endowment Total Funds Notes Funds Funds Fund5 2022 Total Funds 2021 Fixed Assets: Tangible assets io 1,128,666 1,128,666 1,15S,110 Investments li Total Flxed Assets 1128 666 1195 750 Current Assets Debtors 12 9,370 4,515 13,885 18,173 Cash at bank 13 Total Current Assets 108 523 Creditors: Amount5 falling due in under l year 14 Net Current A55ets/lLiabilities) Total Assets less Current Liabilities 46 971 1133 891 121209 31233 ￿ L2IU74 Creditors.. Amounts falling due after more than l year 15 146 529 146 529 192 143 Total Net Assets 987 362 1065 566 1045 605 NEW ROW PRESBYfERIAN CHURCH a Congregation of the Presbyterlan Church In Ireland BALANCE SHEET As at 31 December 2022 Unrestrl¢ted Restricted Endowment Total Funds Notes Funds Funds Funds 2022 Total Funds 2021 Funds of the charlty Endowment funds 16 31,233 31,233 40,640 Restricted Income funds 16 987,362 987,362 969,310 Unrestricted funds 16 Total charlty funds 987 362 1065 566 ￿5 Approved by the Kirk Session and signed on Its behalf by Slgned by,. Date: l¥tsW z3ls12Gt3 (Mr Adrian Cochranel LBI%- (Mr Me vyn Moore) NEW ROW PRESBYTERIAN CHURCH a Congregation of the Presbyterlan Church In Ireland NOTES TO THE FINANCIAL STATEMENTS 31 December 2022 ACCOUNTING POLICIES BASIS OF FINANCIAL STATEMENTS The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing thelr accounts in accordance with Flnanclal ReportSng Standard appllcable In the UK and Ireland IFRS1021 (effective I January 20151. The financial statements have been prepared under the historical cost convention except for investment assets, whlch are shown at market value. The financlal statements Include all transaction5, assets and liabilities for which the congregation Is responsible in law. They do not Include the accounts of church groups that owe their afflllation to another body, nor those that are informal gatherings of church members. FUND ACCOUNTING Endowment fund5 are funds, the capital of which must be retalned either permanently or at the congregatlon's dlscretion,, the income derived from the endowment is to be used either as restricted or unrestricted income funds dependin8 upon the purpose for which the endowment was established in the f irst place. Restricted funds comprise la) income from endowments which 15 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 i nvestment is apportioned to the indivldual funds on an average balance basis. Unrestrlcted funds are Income funds whlch are to be spent on the congregation's general purposes. Designated funds are general funds set aside by the congregatlon for use in the future. NEW ROW PRESBYTERIAN CHURCH a Congregation of the Presbyterian Church In Ireland NOTES TO THE FINANCIAL STATEMENT5 Iconvd) 31 December 2022 ACCOUNTING POLICIES Icont'd) INCOMING RESOURCES (i) Recognltlon of IncomlnE resources These are included in the Statement of Financial Activities ISOFAI when: • the congregation become5 entltled to the resources., the trustees are virtually certain that they will receive the resources; and the monetary value can be measured with sufficient reliability. Incomlng resources wlth related expendlture Where incoming resources have related expenditure las with fundraisin8 income) the incoming resources and related expenditure are reported gross in the SOFA. Grants and donations Grants and donation5 are only included in the SOFA when the congregation has unconditional entitlement to the resources. Tax reclalms on donatlons and Elfts Incoming resources from tax reclaims are included In the SOFA at the same time as the glft to whjch they relate. Glfts In klnd No gifts in kind were received during the year. Donated servlces and facllities No donated services and facilities were received during the year. Ivii) Volunteer help The value of any voluntary help received is not included in the accounts but is described in the trustees, annual report. (viii) Investment income This is included in the accounts when receivable. Ilx) Investment gains and losses This includos any gain or loss on the sale of investments and any gain or105s resulting from revalui ng Investments to market value at the end of the year. NEW ROW PRESBYTERIAN CHURCH a Congregation of the Presbyterlan Church in Ireland NOTES TO TH E FINANCIAL STATEMENTS (cont'd} 31 December 2022 AccouiirriNG POLICIES (convd) EXPENDITURE AND LIABILITIES {x) Liablllty recognltlon Liabilities are recognised as soon as there is a legal or constructive obli8ation committing the congregation to pay out resources. ASSETS (xi) Tanglble Fixed Assets Tangible fixed assets for use by the charity are capita lised if they can be used for more than one year, and cost at least £l,OQO. They are valued at cost or at market value. Depreciation is recorded on all tangible fixed a55et5 Other than freehold land, at rates calculated to write off the cost, less esti mated residual value, of each asset over its expected useful life as follows.. BulldlnES over 50 years Fixtures, flttings and equipment over 10 years Computers, 50ftware and technical equipment over 4 years Ixii) Investments Investments quoted on a recognised stock exchange are valued at market value at the year end. No other Investment assets were held by the trustees during the year. NEW ROW PRESBYTERIAN CHURCH a Congregation of the Presbyterian Church In Ireland NOTES TO THE FINANCIALSTATEMENTS (convd) 31 December 2022 DONATIONS AND LEGACIES Unre5trlcted Re5trlcted Funds Funds Endowment Total Funds Total Funds Funds 2022 2021 Recorded giving Loose collections Donations and glfts Gift Aid 112,272 980 72,982 185,254 980 2,692 187,177 997 515 2,692 225 953 228 379 CHARITABLE ACTIVITIES Unrestricted Funds Restrlcted Funds Endowment Total Funds Total Funds Funds 2022 2021 Income f rom Charitable Activities Membership Fees Grants 1,579 2,801 2,602 4,380 2,602 2,121 1,185 NEW ROW PRESBYTERIAN CHURCH a Congregation of the Presbyterlan Church in Ireland NOTES TO THE FINANCIALSTATEMENTS {conYd) 31 December 2022 INCOME FROM INVESTMENTS Unrestricted Restricted Funds Funds Endowment Funds Total Funds Total Funds 2022 2021 Bank interest General Investment Fund IPCII Northern Ireland Central Investment Fund for Charities 115 22 42 137 42 73 75 115 OTHER INCOME Unrestricted Restricted Funds Funds Endowment Funds Total Funds Total Funds 2022 2021 Miscellaneous income NEW ROW PRESBYTERIAN CHURCH a Congregatlon of the Presbyterlan Church In Ireland NOTES TO THE FINANCIAL STATEMENTS {cont'd) 31 December 2022 RAISING FUNDS Unrestricted Restrlcted Funds Funds Endowment Total Funds Total Funds Funds 2022 2021 FWO envelopes 721 721 794 CHARITABLE ACTIVITIES Unrestrlcted Restricted Funds Funds Endowment Total Funds Total Funds Funds 2022 2021 General Assembly Assessments Presbytery fees Ministry and support staff costs (note 81 Other staff costs Congregational run nlng expenses Missions & Charities Other charitable expenditure 17,396 897 17,396 897 24,501 731 61,185 14,477 29,989 61,185 14.477 80,787 20,781 86,234 13,593 65,768 21,287 50,798 20,781 133 355 214 056 218 523 io NEW ROW PRESBYTERIAN CHURCH a Congregatlon of the Presbyterian Church In Ireland NOTES TO THE FINANCIAL STATEMENTS (conyd) 31 December 2022 EMPLOYEES Employment Costs Total Fund5 Total Funds 2022 2021 Wages and Salaries Expenses Social Secu rity Costs Pension contributions (excluding mlnisterl 62,149 3,538 3,223 855 87,727 6,242 5,021 837 99 Number of Employees The average number of employees during the year was: Total Funds Total Funds 2022 2021 No. Ministerial Team Other5 Average number of all employees There were no employees in receipt of employee benefits in excess of £60,000. li NEW ROW PRESBYTERIAN CHURCH a Congregation of the Presbyterian Church in Ireland NOTES TO THE FINANCIAL STATEMENTS {conYd) 31 December 2022 PENSION COSTS The minister of the congregation is a member of the Presbyterian Church in Ireland Pension Scheme 12009). This is a scheme operated by the Presbyterian Church in Ireland, a separately registered charity. The congregation pays an assessment to the Presbyterian Church in Ireland equivalent to the employer's penslon contrlbutlon 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 average 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 that 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 penslonable salaries to cover the accrual of benefits for future service, expenses, the cost of insuring death in service benefits and fundin8 the scheme deficit. The contributions made bythe congregation during the year were: Total Funds Total Funds 2022 2021 Contributions The congregation also operates a defined pension contribution scheme for Its other employees. The scheme and its as5et5 are held by an independent scheme manager. The pension charge represents the contributions due from the congregation during the year. Total Funds Total Funds 2022 2021 Contri butions 855 855 837 837 12 NEW ROW PRESBYTERIAN CHURCH a Con8regatlon of the Presbyterian Church In Ireland NOTES TO THE FINANCIAL STATEMENTS Iconvd) 31 December 2022 io. TANGIBLE FIXED ASSETS Flxtures and Fittings Land & Technlcal Total Equipment 2022 Bulldlngs At I" January 2022 Additions At 31" December 2022 1,268,595 52,971 34,221 1,355,787 1268 595 1355 787 Depreclatlon At I" January 2022 Charge for year At 31" December 2022 126,685 40,938 33,054 675 200,677 147 157 227 121 Net Book Value At 31" December 2022 1121438 492 1128 666 At 31, December 2021 1141910 1155 110 ii. INVESTMENTS 2022 2021 General Investment Fund Northern Ireland Central Investment Fund for Charities 3,532 3,848 Value at I, January 2022 l LossllGain on revaluation 40,640 36,661 st Value at 31 December 2022 13 NEW ROW PRESBYTERIAN CHURCH a Congregatlon of the Presbyterian Church in Ireland NOTES TO THE FINANCIAL STATEMENTS (cont'd) 31 December 2022 ii. INVESTMENTS {conVd) The congregation does not directly hold investment5 that are listed on recognised stock exchanges. The congregation however holds shares in the General Investment Fund which is managed by the Trustees of the Presbyterian Church in I reland, a corporate body established under the I rish Presbyterian Church Act 1871. The shares were formally valued on 31, December 2022 and are included i n the Balance Sheet at that value. The congregatlon a150 hold share5 in the Northern Ire13nd Central Investment Fund For Charitle5. Established in 1965 through the Charities Act l Northern Ireland) 1964 the Northern Ireland Central Investment Fund for Charities aims to provide charity trustees with the opportunity to invest all or part of thelr funds with the benefit of expert supervision. It is managed by the Department for Communities through recogni5ed fund managers, but it5 investment policy is guided by a locally based advisory committee appointed by the department, whlch meets In February, May, August and November each year. The fund operates as a dlscretionary managed fund. Participating charitles pool their investments and are given a proportionate number of shares in the fund based on the most recent valuation (share pricel. The fund invests in f ixed-intere5t securities and selected equitie5. The allocation between fixed-interest securitie5 and equities is reviewed and adjusted perlodlcally, In Ilne wlth the f und's Investment pollcy. The Fund Is forma Ily valued at the end of each month and our congregation's share of Its value as at 315t December 2022 is included in the Balance Sheet. All investments of the Congregation are therefore held within the category of quoted securitie5. 2022 2021 Valuatlon Quoted securities 14 NEW ROW PRESBYTERIAN CHURCH a Congregatlon of the Presbyterian Church In Ireland NOTES TO THE FINANCIAL STATEMENTS Icont'd) 31 December 2022 12. DEBTORS 2022 2021 Gift Aid Recoverable Prepaid Expenses 10.722 15,205 13. CASH AT BANK AND ON HAND 2022 2021 Ulster Bank Current Account Ulster Bank Bu ildlng Account Barclays Bank Boys Brigade First Trust Sunday Blble Club U Ister Bank Bowling Club U Ister Bank Girls Brigade Nationwide Youth Fellowship Ulster Bank PW Tuesday Drop In Danske Bank Choir Frlendship Clrcle Cash on Hand 68,846 16,202 4,317 239 2,089 2,140 54,333 15,687 4,759 238 1,961 2,095 530 339 315 105 301 84 301 89 115 14. CREDITORS: amount falling due within one year 2022 2021 UA and Missions Accrued expenses Bank Loan repayments 15.483 3,344 16,347 2,775 15 NEW ROW PRESBYTERIAN CHURCH a Con8regation of the Presbyterian Church In Ireland NOTES TO THE FINANCIAL STATEMENTS (convd) 31 December 2022 15. CREDITORS.. amount falling due after more than one year 2022 2021 Ulster Bank loan (see note below) Note: The bank loan Is secured on the following freehold properties: Church building and halls at New Row, Coleraine; property at 24 Society St., Coleraine and property at 24 Grange Road, Coleraine (church manse). 16. FUND BALANCES AND RECONCILIATION OF FUNDS Balance at 1st Jan 2022 Galns/ Losses Balance at 31" Dec 2022 Income Expenditure Transfers Unrestrlcted Funds General Fund 35,655 144,892 134,076 500 46,971 Restrlcted Funds General Fund Building Fund Bequest Fund Charities Fund Bowling Club Boys, Brigade Church Choir Friendship Circle Girls, Brigade Presbyterian Women Sunday Bible Club Tuesday Drop-ln Youth Fel lowship 4,809 943,246 3.435 7,451 1,992 4,759 301 44 22,242 69,008 21,284 50,798 5,770 961,456 3,435 7,451 2,090 4,317 301 89 568 4,022 220 4,464 12501 348 303 2,095 340 239 129 470 969,310 2,143 775 1,948 800 615 69 203 80,701 11501 2,140 315 {376} 107 267 987,362 147 iioo) 99,253 (5001 Endowment Funds Nl Central Investment 40,640 40.640 {9,4071 19,407) 31,233 31,233 Total of all Funds 1,045,605 244,145 214,777 (9.407} 1,065.566 16 NEW ROW PRESBYfERIAN CHURCH a Congregation of the Presbyterian Church in Ireland NOTES TO THE FINANCIAL STATEMENTS {cont'd) 31 December 2022 17. RELATED PAR TY TRANSACTIONS One of the Trustees, the minister of the congregation, received remuneration of £14,992 and expenses of £2,127 for acting in that capacity. Pension contributions of £3,164 were paid by the congregation in respect of the minister to the Presbyterian Church in Ireland Pension Scheme120091. None of the other trustees recelved any remuneration, or expenses during the year in connection with their duties apart from the reimbursement of expenses lald out by them wholly and exclusively on behalf of the con8re8ation. There were no other related party transactions. 17 THE FOLLOWING PAGES DO NOT FORM PART OF THE STATUTORY ACCOUNTS 18 NEW ROW PRESBYTERIAN CHURCH a Congregatlon of the Presbyterian Church In Ireland Analy515 of Income for the year ended 31 December 2022 Unrestrlcted Restricted Funds Funds Total 2022 Total 2021 Freewill Offering Loose Collection Freewill Offering Glft Ald Building Fund Receipts Building Fund Gift Aid Building Fund Other Donations United Appeal Unlted Appeal Gift Ald Moderator's Appeal120201 Christian Aid Christian Aid Glft Ald Afghanistan Appeal Afghanistan Appeal Gift Ald Ukraine Appeal Ukralne Appeal Gift Aid Presbyterian Chi Idren Presbyterian Children Gift Aid World Development Appeal World Development Appeal Gift Aid BB Installation Collection BB Gift Aid GB I nstallation Collection Royal British Legion Nl Hospice M&A Tinawl Caring Caretaker Church Organlsatlons towards Heat & Light Contribution to SBC Shoebox Appeal Retirement Gift Bank Interest General Investment Fund Investment Fund for Charitie5 Dividends UCB Notes Funeral Gifts Books www 112,272 980 22,536 112,272 980 22,536 55,157 11.679 2,172 11,360 1,736 122,073 997 25,424 48,477 10,758 515 11,575 2,626 io 1,475 346 55,157 11,679 2,172 11,360 1,736 839 176 2,330 413 607 123 1,703 260 487 104 65 95 839 176 2,330 413 607 123 1,703 260 870 179 1,722 356 104 65 95 140 176 173 156 500 20 173 166 500 20 830 7,410 iio 7,410 132 42 1,021 22 42 1,021 68 75 1,021 loo loo 64 iio 80 474 737 737 19 NEW ROW PRESBYTERIAN CHURCH a Congregatlon of the Presbyterlan Church In Ireland Analysis of Income for the year ended 31 December 2022 (Cont'd) Rents Received Grant Presbyterian Herald Thursday Café JRS Grant GB Income Bowling Club Income PW Income BB Income Friends Circle Income Tuesday Drop-in Income 162 162 502 loo 480 loo 268 1,402 1,778 381 820 2,070 2,143 568 775 4,022 348 147 253 2,143 568 775 4,022 147 237 767 20 NEW ROW PRESBYTERIAN CHURCH a Congregation of the Presbyterlan Church In Ireland Analysis of Expendlture for the year ended 31 December 2022 Unrestrlcted Funds Restrfcted Funds Total 2022 Total 2021 Ministerfs Salary Other Salaries Vacancy- Pulpit Supply & Convenor PCI Assessments United Appeal & Missions Retirement Gift Rates and Insurance Light and Heat Equipment Repairs Manse Repairs Printing postage and stationery FWO Envelopes Telephone Cleaning Presbyterian Herald Mileage Presbytery Fee CDS www Resources Aud it Fees Software Licences Gifts Food Sundry Calendars Digital Workshop UCB Notes Coffee Holiday Bible Club Flowers Football Night Christmas Tree Depreciation Loan Interest Bank Interest and Charges Shoe Box Appeal PW Expenses 17,119 52,646 5,897 17,396 17.119 52,646 5,897 17.396 20,781 7,435 5,339 10,839 1.345 11,693 4,954 721 1.703 672 495 1.411 897 375 945 1,186 750 51,092 48,932 24,305 19,948 20,781 7,435 3,591 10,694 1,345 1,748 145 4,476 5,675 505 6,180 3,540 794 1,866 493 11,693 4,954 721 1,703 672 495 1,411 897 375 945 1,186 750 167 731 385 181 686 354 214 176 672 73 189 20 iio 583 176 672 73 189 20 iio 583 1.066 136 144 50 26,444 10,768 625 100 76 1,066 136 144 50 163 26,444 10,768 29,165 13,028 547 740 636 625 800 800 21 NEW ROW PRESBYTERIAN CHURCH a Congregation of the Presbyterlan Church in Ireland Analy515 of Expendlture for the year ended 31 December 2022 (Cont'd) Unrestrl¢