|**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.