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LARGY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 31ST DECEMBER 2022
Notes Unrestricted Restricted Endowment funds Total Total
2022 2022 2022 2022 2021
£ £ £ £ £
Income
Freewill offerings, donations and plate collections 36,691.00 3,162.00 - 39,853.00 40,409.70
Gift Aid Refund 6,104.98 1,687.62 - 7,792.60 5,630.33
Charity Appeals - Special Collections 2 - 5,257.00 - 5,257.00 4,030.50
Rental income 2,921.40 2,056.00 - 4,977.40 4,819.75
Graves 1,200.00 - - 1,200.00 -
Fundraising income 81.50 - - 81.50 107.75
Receipts from Sunday School and Children's Church - 618.03 - 618.03 245.30
Sundry Income 100.00 150.00 - 250.00 310.00
Investment income - 52.85 - 52.85 14.57
Receipts from Church's Organisations - 3,361.18 - 3,361.18 2,408.30
Total Income 47,098.88 16,344.68 - 63,443.56 57,976.20
Expenditure
General Assembly Assessments 3,486.00 - - 3,486.00 3,399.00
Minister's Expenses 25,219.13 2,056.00 - 27,275.13 26,378.43
Organists and supply ministers 920.00 - - 920.00 360.00
Church Expenses 5,013.94 452.40 - 5,466.34 5,661.02
Maintenance Manse 640.49 2,868.71 - 3,509.20 3,518.22
Charity Appeals -
Donations from Special Collections 2 - 6,227.87 - 6,227.87 4,451.50
Donation from Mission Support - 512.13 - 512.13 406.00
Donations from General funds 1,012.00 - - 1,012.00 807.50
Rented property: expenses 936.85 - - 936.85 1,211.72
Payments from Sunday School and Children's Church - 533.22 - 533.22 348.10
Graveyard upkeep 2,100.00 - - 2,100.00 2,100.00
Payments from Church's Organisations - 2,663.95 - 2,663.95 2,733.00
Largy Community Association 1,000.00 - - 1,000.00 -
Sundries 3,004.75 575.73 - 3,580.48 2,482.36
Total Expenditure 43,333.16 15,890.01 - 59,223.17 53,856.85
Excess of Income over Expenditure 3,765.72 454.67 - 4,220.39 4,119.35
The notes which follow form part of these financial statements and should be read in conjunction herewith.
On behalf of the Trustees
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Rev Dr Clive Glass Mr Jim Donaghy (Minister) (Clerk of Session) 30/3/2023 30/3/2023
## **LARGY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND**
## **STATEMENT OF ASSETS AND LIABILITIES AT 31 DECEMBER 2022**
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Unrestricted Restricted Endowment Total Total
Note Funds Funds Funds Funds Funds
2022 2022 2022 2022 2021
£ £
Fixed Assets 1,720,249.79 - - 1,720,249.79 1,614,185.85
Funds
Current accounts 7,423.87 7,319.53 - 14,743.40 15,397.10
Deposit accounts 5,285.94 31,237.24 - 36,523.18 31,671.88
Cash on hand - 43.19 - 43.19 20.40
Total funds 3 12,709.81 38,599.96 51,309.77 47,089.38
Total Assets less Liabilities 1,771,559.56 1,661,275.23
The notes which follow form part of these financial statements and should be read in conjunction herewith.
On behalf of the Trustees
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Rev Dr Clive Glass Mr Jim Donaghy (Minister) (Clerk of Session) 30/3/2023 30/3/2023
|**LARGY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND**|**LARGY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND**|**LARGY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND**|**LARGY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND**|**LARGY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND**|**LARGY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND**|**LARGY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND**||||||||
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|**NOTES TO THE ACCOUNTS**||||||||||||||
|**YEAR ENDED 31ST DECEMBER 2022**||||||||||||||
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|1|**Accounting Policies**|||||||||||||
|||||||||||||||
||Theprincipal accounting policies applied in thepreparation of the Receipts and Payments Account and the Statement of Assets and Liabilities are as follows:|||||||||||||
|||||||||||||||
|**(a) **|**Receipts and Payments Account**|||||||||||||
|||||||||||||||
||All items of income and expenditure included within the Receipts and Payments Account have been accounted for on a cash receipts basis.|||||||||||||
|||||||||||||||
|**(b) **|**Fund Accounting**|||||||||||||
|||||||||||||||
||Endowment funds are funds,the capital of which must be retained eitherpermanentlyor at the congregation's discretion;the income derived from the|||||||||||||
||endowment is to be used either as restricted or unrestricted income funds dependingupon thepurpose for which the endowment was established in the|||||||||||||
||firstplace.|||||||||||||
|||||||||||||||
||Restricted funds comprise(a)income from endowments which is to be expended onlyon the restrictedpurposes intended bythe donor and(b)revenue|||||||||||||
||donations orgrants for a specific congregational activityintended bythe donor. Where these funds have unspent balances,interest on theirpooled|||||||||||||
||investment is apportioned to the individual funds on an average balance basis.|||||||||||||
|||||||||||||||
||Unrestricted funds are income funds which are to be spent on the congregation'sgeneralpurposes. Designated funds aregeneral funds set aside by|||||||||||||
||the congregation for use in the future.|||||||||||||
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|**(c) **|**Statement of Assets and Liabilities**|||||||||||||
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||**Fixed Assets**|||||||||||||
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||The congregation owns the followingassets:|||||||||||||
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||The Church and Church Hallpremises situated at Drumrane Road,Limavady,BT49 9LQ,and the associated fixtures and fittings. These have an insurance value|||||||||||||
||of £1,350,069.31|||||||||||||
|||||||||||||||
||The Sexton's house situated at 122 Drumrane Road,Limavady. This has an insurance value of £170,180.48.|||||||||||||
|||||||||||||||
||Carpark situated at Drumrane Road,Limavady. The Trustees have valued this at £40,000.|||||||||||||
|||||||||||||||
||11.75 acres of land located at LargyRoad,Limavady. The Trustees have valued this at £120,000.|||||||||||||
|||||||||||||||
||Land andpartlybuilt Manse located at LargyRoad,Limavady. The Trustees have valued this|||||||at £40,000.||||||
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|**2**|**Special Collections**|||||||||||||
|||||||||Collections|Gift aid|Payments||||
|||||||||£||£||||
||United Appeal|||||||2,964.00|595.87|3,559.87||||
||Moderator's Appeal|||||||1,340.00|337.50|1,677.50||||
||World Development Appeal|||||||423.50|47.50|471.00||||
||LeprosyMission|||||||10.00|-|-||||
||Samaritan's Purse|||||||240.00||240.00||||
||Royal British Legion|||||||86.50|-|86.50||||
||Global Missionaries|||||||193.00|-|193.00||||
|||||||||5,257.00|980.87|6,227.87||||
||Donation of £10 received for LeprosyMission was notpaid out until after 31st December 20|||||||22 and has been included in restricted funds||||||
||atyear end.|||||||||||||
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|**3**|**Movement in funds**|**Movement in funds**||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||**At 1stJan**|**Incoming**|**Outgoing**|**Transfers **|**At 31st Dec**||||
|||||||**2022**|**Resources**|**Resources**||**2022**||||
|||||||||||||||
||**Restricted funds**|||||||||||||
||General Fund|||||-|6,237.87|-6,227.87|-|10.00||||
||Repair fund|||||24,525.25|3,889.10|-3,355.09|499.00|25,558.26||||
||Manse PropertyAccount|||||1,508.56|2,056.00|-2,157.75|-|1,406.81||||
||Mission Support fund|||||4,639.61|182.50|-952.13|-|3,869.98||||
||Midweek Fellowshipfund|||||333.31|1,516.60|-1,440.00|-|409.91||||
||Choir fund|||||3,784.73|0.37|-|-|3,785.10||||
||Senior Citizens' fund|||||120.40|433.88|-387.21|-|167.07||||
||Presbyterian Women|||||289.08|1,410.33|-836.74|-|862.67||||
||SundaySchool and Children's Church|||||2,445.35|618.03|-533.22|-|2,530.16||||
|||||||37,646.29|16,344.68|-15,890.01|499.00|38,599.96||||
|||||||||||||||
||**Unrestricted funds**|||||||||||||
||General fund|||||9,443.09|47,098.88|43,333.16
-|499.00
-|12,709.81||||
|||||||||||||||
|||||||||||||||
||**Total funds**|||||47,089.38|63,443.56|59,223.17
-|-|51,309.77||||
|||||||||||||||
|**4**|**Transactions with the Trustees**|||||||||||||
||The Churchpaid expenses of £3,509.20 relatingto the runningcos|||||ts of the Manse which is occupied bythe Minister.||||||||
||(2021-£3,518.22)|||||||||||||
|||||||||||||||
||No other Trustee received anyremuneration orpayments.|||||||||||||
|||||||||||||||
||Duringtheyear a short term loan of £1,000 was made to LargyCommunityAssociation. There is a commonalitybetween|||||||||||||
||the board of trustees of LargyPresbyterian Church and the board of trustees of LargyCommunityAssociation.|||||||||||||
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|**5**|**Governance costs**|||||||||||||
||Governance costs of £200 were incurred duringtheyear of which £200 relates to feespaid to the|||||||||||||
||independent examiner. These are included in Sundryexpenses.|||||||||||||
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