| 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 | LARGY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND | |||
|---|---|---|---|---|---|---|---|---|---|---|
| RECEIPTS AND PAYMENTS ACCOUNT | ||||||||||
| FOR THE YEAR ENDED 31ST DECEMBER 2023 | ||||||||||
| Notes | Unrestricted | **Restricted ** | Endowment funds | Total | Total | |||||
| 2023 | 2023 | 2023 | 2023 | 2022 | ||||||
| £ | £ | £ | £ | £ | ||||||
| Income | ||||||||||
| Freewill offerings,donations andplate collections | 38,489.35 | 4,114.00 | - | 42,603.35 | 39,853.00 | |||||
| Gift Aid Refund | 6,321.57 | 1,662.50 | - | 7,984.07 | 7,792.60 | |||||
| CharityAppeals - Special Collections | 2 | - | 5,065.00 | - | 5,065.00 | 5,257.00 | ||||
| Income from land andproperty | 2,925.43 | 2,056.00 | - | 4,981.43 | 4,977.40 | |||||
| Graves | 240.00 | - | - | 240.00 | 1,200.00 | |||||
| Fundraisingincome | 78.50 | 5,047.00 | - | 5,125.50 | 81.50 | |||||
| Receipts from SundaySchool and Children's Church | - | 985.43 | 985.43 | 618.03 | ||||||
| LargyCommunityAssociation loan repaid | 1,000.00 | - | - | 1,000.00 | - | |||||
| SundryIncome | 752.00 | 320.00 | - | 1,072.00 | 250.00 | |||||
| Investment income | - | 514.14 | - | 514.14 | 52.85 | |||||
| Receipts from Church's Organisations | - | 3,037.95 | - | 3,037.95 | 3,361.18 | |||||
| Total Income | 49,806.85 | 22,802.02 | - | 72,608.87 | 63,443.56 | |||||
| Expenditure | ||||||||||
| General AssemblyAssessments | 3,453.00 | - | - | 3,453.00 | 3,486.00 | |||||
| Minister's Expenses | 26,850.75 | 2,056.00 | - | 28,906.75 | 27,275.13 | |||||
| Organists and supplyministers | 490.00 | - | - | 490.00 | 920.00 | |||||
| Church Expenses | 6,137.63 | 5,648.40 | - | 11,786.03 | 5,466.34 | |||||
| Maintenance Manse | 673.78 | 3,163.52 | - | 3,837.30 | 3,509.20 | |||||
| CharityAppeals - | ||||||||||
| Donations from Special Collections | 2 | - | 5,786.88 |
- | 5,786.88 | 6,227.87 | ||||
| Donation from Mission Support | - | 652.00 | - | 652.00 | 512.13 | |||||
| Donations from General funds | 1,043.62 | - | - | 1,043.62 | 1,012.00 | |||||
| Rentedproperty: expenses | 1,001.40 | - | - | 1,001.40 | 936.85 | |||||
| Payments from SundaySchool and Children's Church | - | 730.27 | - | 730.27 | 533.22 | |||||
| Graveyard upkeep | 2,100.00 | - | - | 2,100.00 | 2,100.00 | |||||
| Payments from Church's Organisations | - | 3,164.54 | - | 3,164.54 | 2,663.95 | |||||
| LargyCommunityAssociation | - | - | - | 1,000.00 | ||||||
| Sundries | 2,095.35 | 798.34 | - | 2,893.69 | 3,580.48 | |||||
| Total Expenditure | 43,845.53 | 21,999.95 | - | 65,845.48 | 59,223.17 | |||||
| Excess of Income over Expenditure | 5,961.32 | 802.07 | - | 6,763.39 | 4,220.39 | |||||
| The notes which follow formpart of these financial statements and should be read in conjunction herewith. | ||||||||||
| On behalf of the Trustees | ||||||||||
Rev Dr Clive Glass Mr Jim Donaghy (Minister) (Clerk of Session) 24/5/2024 24/5/2024
LARGY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
STATEMENT OF ASSETS AND LIABILITIES AT 31 DECEMBER 2023
----- Start of picture text -----
Unrestricted RestrictedEndowment Total Total
Note Funds Funds Funds Funds Funds
2023 2023 2023 2023 2022
£ £
Fixed Assets 1,834,268.53 1,834,268.53 1,720,249.79
Funds
Current accounts 5,142.45 7,477.46 - 12,619.91 14,743.40
Deposit accounts 11,659.55 31,852.70 - 43,512.25 36,523.18
Cash on hand 1,941.00 - - 1,941.00 43.19
Total funds 3 18,743.00 39,330.16 - 58,073.16 51,309.77
Total Assets less Liabilities 1,892,341.69 1,771,559.56
The notes which follow form part of these financial statements and should be read in conjunction herewith.
On behalf of the Trustees
----- End of picture text -----
Rev Dr Clive Glass (Minister) 24/5/2024
Mr Jim Donaghy (Clerk of Session) 24/5/2024
LARGY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
NOTES TO THE ACCOUNTS YEAR ENDED 31ST DECEMBER 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NOTES TO THE ACCOUNTS | |||||||||||||
| YEAR ENDED 31ST DECEMBER 2023 | |||||||||||||
| 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. | |||||||||||||
| **(c) ** | Statement of Assets and Liabilities | ||||||||||||
| Fixed Assets | |||||||||||||
| The congregation owns the followingassets: | |||||||||||||
| The Church and Church Hallpremises situated at Drumrane Road,Limavady,BT49 9LQ,and the associated fixtures and fittings. These have an insurance value | |||||||||||||
| of £1,451,324.51 | |||||||||||||
| The Sexton's house situated at 122 Drumrane Road,Limavady. This has an insurance value of £182,944.02. | |||||||||||||
| 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. | |||||||||||||
| 2 | SpecialCollections | ||||||||||||
| Collections | Gift aid | Payments | |||||||||||
| £ | £ | ||||||||||||
| United Appeal | 3,333.00 | 434.38 | 3,767.38 | ||||||||||
| Moderator's Appeal | 490.00 | 338.12 | 620.00 | ||||||||||
| World Development Appeal | 464.50 | 65.00 | 529.50 | ||||||||||
| LeprosyMission | 140.00 | 36.25 | 175.00 | ||||||||||
| Samaritan's Purse | 356.00 | 356.00 | |||||||||||
| Royal British Legion | 51.50 | - | 51.50 | ||||||||||
| Chest,Heart and Stroke | 230.00 | 60.00 | 287.50 | ||||||||||
| 5,065.00 | 933.75 | 5,786.88 | |||||||||||
| 3 | Movement in funds | ||||||||||||
| At 1stJan | Incoming | Outgoing | **Transfers ** | At 31st Dec | |||||||||
| 2023 | Resources | Resources | 2023 | ||||||||||
| Restricted funds | |||||||||||||
| General Fund | 10.00 | 5,998.75 | -5,786.88 | -221.87 | 0.00 | ||||||||
| Repair fund | 25,558.26 | 9,486.39 | -9,056.96 | 150.00 | 26,137.69 | ||||||||
| Manse PropertyAccount | 1,406.81 | 2,056.00 | -2,169.30 | - | 1,293.51 | ||||||||
| Mission Support fund | 3,869.98 | 1,237.50 | -1,092.00 | - | 4,015.48 | ||||||||
| Midweek Fellowshipfund | 409.91 | 1,614.75 | -1,461.00 | - | 563.66 | ||||||||
| Choir fund | 3,785.10 | 41.81 | -175.35 | - | 3,651.56 | ||||||||
| Senior Citizens' fund | 167.07 | 255.00 | -418.19 | - | 3.88 | ||||||||
| Presbyterian Women | 862.67 | 1,126.39 | -1,110.00 | - | 879.06 | ||||||||
| SundaySchool and Children's Church | 2,530.16 | 985.43 | -730.27 | - | 2,785.32 | ||||||||
| 38,599.96 | 22,802.02 | -21,999.95 | 71.87 - |
39,330.16 | |||||||||
| Unrestricted funds | |||||||||||||
| General fund | 12,709.81 | 49,806.85 | 43,845.53 - |
71.87 | 18,743.00 | ||||||||
| Total funds | 51,309.77 | 72,608.87 | 65,845.48 - |
- | 58,073.16 | ||||||||
LARGY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
NOTES TO THE ACCOUNTS YEAR ENDED 31ST DECEMBER 2023
4 Transactions with the Trustees
The Church paid expenses of £3,837.30 relating to the running costs of the Manse which is occupied by the Minister (2022-£3,509.20)
No other Trustee received any remuneration or payments.
During the year a short term loan of £1,000 was repaid by Largy Community Association. There is a commonality between the board of trustees of Largy Presbyterian Church and the board of trustees of Largy Community Association.
- 5 Governance costs
Governance costs of £200 were incurred during the year of which £200 relates to fees paid to the independent examiner. These are included in Sundry expenses.