an KELLS CONGREGATION OFTHE PRESBERIAN CHURCH IN IRELAND ATEmETr OF FIMANCIALAcrivrriES Forthe year ended 31 December 2022 Note Unrestrlrted Funds Restrirted Funds Endowment Funds Totsl Funds 2022 Totsl Funds 2021 Income and Endowments from: Donations and legacies Charitable activities Othertrading activities Investments Other Total 110,487 I96,2 7.040 72,311 378,800 7,040 223,433 1,278 822 825 612 387,285 668 6,151 231,538 612 203,657 111,317 72,311 Expenditure on: Raising funds Charitable attivities Total 13341 1142,8341 1143,1681 131,8511 13341 1249,7271 1250,0611 137.224 412 203.443 203,855 27,683 1106,8931 1106,8931 96,764 72,311 Net Incomellexpenditure) Transfers between funds Net movement in funds 11501 132,COII 150 96,914 72,311 137,224 27,683 Recondllation of funds: Total funds brought forward Total funds carried forward 142.736 110.735 1.916,999 2,013,913 3,045 75,356 2,062,780 2,200,004 2,035,097 2,062,780 12
an KELLS CONGREGATION OFTHE PRESBYTERIAN CHURCH IN IRELAND BALANCE SHEEr A5 at 31 Dember 2022 Note Unre5trlcted Funds Restricted Endowment Funds Fund5 Total Funds 2022 Total Funds 2021 Flxed assets: Tangible assets Totsl fixed assets li 3.584 3,584 1,685,814 1.685.814 1,689,398 1,689,398 1,732,476 1,732,476 Current assets". Debtors Cash at bank and in hand Total current assets 12 13 18,591 90,0(K) 108,591 17,861 313,024 330,885 36,452 478,380 514.832 30,664 300,840 331,504 75,356 75,356 Llabilities,. Creditors.. amounts falling due within one year 14 11,4401 12.7861 14.2261 11,2001 Net current assets 107,151 328,099 75,356 $10,606 330,304 Total assets le$5 current liabllltles 110,735 2,013,913 75,356 21)J,004 2,062.780 Creditors.. amounts falling due after one year Total net assets 110.735 2,013,913 75,356 2,2.(x)4 2.061780 Funds of the cha Restricted funds Unrestricted funds Endowment funds 15 15 15 2,013,913 2,013,913 110,735 75,356 1,916,999 142,736 3,045 110,735 75,356 Totsl tharityfvnds 110,735 2.013,913 75,356 2,21)),CQ4 1062.780 Approved by the Kirk Se55ion at a meeting on 16 May 2023 and signed on its behalf by: Rev W8 Boyd Trustee Brian Turtle Trustee 13
an KELLS CONGREGAMON OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 Dernber 2022 l. A¢countin8 polldes BASIS OF FINANCIAL sfATEMEMrs The financial statements have been prepared in accordance with applicable accounting standards. While compliance wfch Statement of Recommended Practice AccoLJnting and Reporting by Charities IFRS1021 is not mandatory account of the guidance contained therein has been taken in the preparation of these accounts. The financial statements have been prepared under the historical cost convention exTrpt for investment assets, which are shown at market value. The financial statements include all transattion5. asset5. and liabilitie5 for which the congregation is responsible in law. They do not include the accounts of church groups that owe their affiliation to another body, nor those that are inform31 gatherings of church members. FUND ACCOUNTING Endowment funds are funds, the capital of which must be retained either permanently or at the congregation's di5cretion.' the income derived from the endowment is to be used either as restrirted or unrestricted income funds depending upon the purpose for which the endowment was established in the first place. Restritted funds comprise lal income from endowrnents which is to be expended only on the restritted 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 balance5, interest on their pooled investment is apportioned to the individual funds on an average basis. Unrestricted funds are income funds which are to be spent on the congregation's general purposes. Designated funds are general funds set aside by the congregation for use in the future. INCOMING RESOURCES Re¢wition of Incomlng resources These are included in the Statement of Financial Activities1SoFAI when.. The congregation becomes entitled to the resources. The trustee5 are virtually certain they will receive the re50urce5,' and The monetary value can be measured with sufficient reliably. Incomlng resources wlth led expendltu Where incoming re50urce5 have related expenditure la5 Wlth fundraising income) the incoming resources and related expenditu are reported gross in the SOFA. Grants and donatlons Grants and donations are only included in the SOFA when the congregation has unconditional entitlement to the resource5. Tay reclalms on donatlons and ffts Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate. Contrartual incorne and perfomiance related grants This is only included in the SOFA On the related goods or servi5 have been delivered. Gffts In klnd Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually reali5ed. Gifts in kind for Sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resource5 when receivable. 14
an KELLS CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTESTO THE Accoufrrrs {ConYdl Donated services and fadlitle5 These are only included in incoming resources (with an equivalent amount in re50urce5 expended) where the benefit to the charity 15 reasonably quantifiable, measurable, and material. The value placed on these resources is the estimated valLJe to the charity of the service or facility received. Vdunteer help The value of any voluntary help received 15 not included in the accounts but 15 described in the trustees, annual report. Investment Income This is Included in the accounts when receivable. Inve5tmertgalns and losses This includes any gain or loss on the sale of investments and any gain or loss resulting frorn revaluing investments to market value at the end of the year. EXPENDITURE AND LIABILrriES ability t{¥&nItI()n abilitie5 are recognised as soon as there is a legal or construttive obligation committing the congregation to pay out resources. These Include costs of the preparation and examination of statutory accounts, the costs of trLJStee meetings and cost of anv legal advice to trustees on governance or constitutional matters. Tanglble Flxed Assets Tangible fixed assets for use by charity. These are capitali5ed if they can be used for more than one year and cost at least £5,000. They are valued at cost or, if gifted. at the value to the charity on receipt. Depreciation is recorded on all tangible fixed assets other than freehold land, at rates calculated to write of the cost le55 estimated residual value, of each asset over it5 expected useful life as follows. Buildings Fixtures and equipment -over 50 years -15% reducing balance DONATIONSAND LEGACIES Unrestricted Funds Restrltted Funds Endowment Fun(ts Totsl Fur5 2022 Total Fund5 2021 Recorded giving L005e collections Donations and gift5 Gift Aid Legacies and bequest 89,169 2,398 330 18,590 92,195 800 84,931 17,861 215 196.LK12 181,364 3,198 85,261 36,451 72,526 378.8Cil 156,466 1,859 4.042 30.664 30,402 223,433 72,311 72,311 110,487 15
an KELLS CONGREGATION OFTHE PRES8YfERIAN CHURCH IN IRELAND NOTESTO THE ACCOUNTS Iconydl CHARABLE AcfiviTIES Unrestricted Funds Re5trf¢ted Funds Totsl Funds 2022 Total Fund5 2021 Income from charitable activities 7,040 1,278 1,278 OTHER TRADING AcrNlEs Unrestritted Funds Restritted Funds Total Funds 2022 Total Funds 2021 Fundraising events Letting of premises INVEsfMEKfs Unrestrfcted Funds Restrfrted Funds Total Furkds 2022 Total Funds 2021 Bank interest received 822 825 825 668 668 822 OTHER INCOME Unrestrfcted Funds Restrftted Funds Total Funds 2022 Total Fund5 2021 Other income Coronavirus lob Retention Scheme 612 612 30 6.121 6,151 612 612 RAISING FUNDS Unrestrfrted Funds Restrtcted Funds Total Funds 2022 Total Fund5 2021 FWO envelopes 334 334 334 334 412 412 16
an KELLS CONGREGATION OF THE PRESBYfERIAN CHURCH IN IREL4ND NOTESTO THE ACCOUNTS ICon¥d} cHARALE AcrivrrES Unrestrtcted Funds Restrlrted Funds Total Funds 2022 Total Funds 2021 General semblY Assessments Presbytery fees Ministry and support staff costs Congregational running expenses Donation5 to Missions and charities Governance costs 11,709 581 92,966 35,732 11,709 581 92,966 101,813 36,349 6,309 249,727 19.342 594 78,154 74,000 29,870 1,483 203,443 66,081 36,349 4,463 106,893 1,846 142,834 EMPLOYEES Employment Costs 2022 2021 Wages and salaries Social Security Costs Pension contributions 71,627 4,941 9.585 66,923 9.201 Number of employees The average number of employees during the year were.. 2022 No 2021 No Average number of employees 10. PENSION C05tS The minister of the congregation is a member of the Presbyterian Church in Ireland Pension Scheme120091. This is a scheme operated by the Presbyterian Church in Ireland. a separate registered charity. The congregation pay5 an as5e55ment to the Presbyterian Church in Ireland equivalent to the employerfs pension contribution for the Scheme and based on the stipend paid to the minister. The Presbyterian Church In Ireland Pension Scheme12009115 a funded Scheme of the defined benefit type, providing defined benefit5 based on career averaged revalued salary. The Scheme has asset5 held in a separatelv administered fund managed by 8 board of trustees. The Presbyterian Church and the Scherne TrLJStees have agreed a funding plan to ensure 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 pensionable salaries to cover the accrual of benefit5 for future Service, expenses, the cost of insuring death in service benefits and funding the scheme deficit. The contribution5 made bythe congregation during the year were. 2022 2021 Contributions 8,516 8,328 17
an KELLS CONGREGATION OF THE PRES8YfERIAN CHURCH IN IRELAND NOTES TO THE AccouKfs {ConVdl 11. TANGIBLE FIXED ASSErs Church Church Hall Church Offlce Fixtures & Equipment Total cosr OR VALUATION At l January 2022 Additions Disposals At 31 December 2022 3,608,425 2,022,267 loo,000 5,836 5,736,528 3,608,425 2.022.267 ioJ,c(o 5,836 5,736.528 DEPREaATION At l January 2022 Charge for the year Eliminated on disposal At 31 December 2022 3.608,425 364,W8 40,445 30,000 1,619 633 4.004,052 43,078 3,608,425 404.453 32,iJY) 2.252 4,047,130 8ts)K VALUE At 31 December 2022 1,617,814 1,658,259 3.584 4,217 1,689,398 1,732,476 At 310ecember 2021 70,000 12. DEBTORS 2022 2021 Gift aid recoverable 36.452 36,452 30,664 30,664 13. $H ATBANKAND IN HAND 2022 2021 Current account Presbyterian Women account Sunday Zone account Campaigner5 account Kells tots account Cash in hand 474,973 295,547 995 1,342 1,950 881 125 3LKI,840 943 1,591 778 95 478,380 14. CREDrroRS: amountsfalllng due withln one year 2022 2021 Other creditors Accruals 536 3,690 4,226 1,200 1.2(X) 18
an KELLS CONGREGATION OF ThE PRESBYfERIAN CHURCH IN IRELAND NOTESTO THE AccouTr¥fs {ConYd} 15. FUND BALANCES Unrestrlcted Funds 2022 2021 General fund 110,735 110,735 142,736 142,736 Restrirted Fund5 2022 2021 Mission fund Property fund Manse fund Presbyterian Women Sunday Zone Campaigners Kells Tots 22,559 1.878,906 108,921 121 965 1,591 850 2,013,913 32,847 1,878,858 994 1,452 1,950 898 1,916,999 Endowment Funds 2022 2021 Bequest fund 75,356 75,356 3,045 3,045 (lvl Reconclllation of movemert of funds Openlng balan Income Expendlture Transfer aosln8 balance Unrestrfcted Fund$ General fund 142,736 142,736 111,317 111,317 1143,1681 1143.1681 11501 11501 110,735 110.735 Restrlrted Funds Mission fund Property fund Manse fund Presbyterian Wornen Sunday Zone Campaigners Kell'5 Tots 32,847 1,878,858 35,319 47,875 117,717 1,077 145,6071 147,7221 19,0511 11,9501 14881 11,2901 17851 1106.8931 22,559 1,878.906 108,921 121 965 1,591 850 2,013.913 11051 255 994 1.452 1.950 898 1.916,999 931 737 203,657 150 Endowmert Funds Bequests 3,045 3,045 72,311 71311 75,356 75,356 Total 2,062,780 387,285 1250.0611 2,21J).CQ4 19
an KELLS CONGREGATION OF ThE PRESBYfERIAN CHURCH IN IREL4ND NOTESTO THE ACCOUNTS {ConYd) 16. Related PartyTransactions Rev William Brian Boyd is a Trustee and ceived renumeration of £35,47912021.. £34,698) and pension contributions of £8,51612021= £8,328) through PCI with £6,33712021.. £5,771) expenses being paid by the church. Mrs Margaret Fowler 15 the wife of Mr Robin Fowler who 15 3 Trustee, and she wa5 paid £9.42212021.- £9,019) in respecr of her duties as caretaker during the year. 20