an KELLS CONGREGATION OFTHE PRESBYfERIAN CHURCH IN IRELAND ATEmE OF FIM4NCIAL A1vlEs For the year ended 31 December 2023 Note Unrestrlcted Funds Restrlcted Funds Endowment Funds Totsl Fund5 2023 Totsl Funds 2022 Income and Endowments from: Donations and legacies Charitable activities Other trading activities Investments Other Tot31 154,812 167 18 1,519 137.425 16,495 292,237 16,662 18 2.131 805 311,853 378,800 7.040 612 805 155,337 825 612 387,285 156,516 Expenditure on: Raising funds Charitable activities Total 13551 1144.8171 1145,1721 11.344 13551 1259,5201 1259,8751 Sl,978 13341 1249,7271 1250,0611 137,224 1114.7031 1144,7031 40.634 Net Incomellexpendlture) TransFer5 between funds Net movement in funds 132,6201 121,2761 32,620 73,254 51,978 137,224 Reconclllatlon of funds.. Total funds brought forward Total funds carried forward 110,735 89,459 2,013.913 2.087,167 75,356 75.356 2.200,004 2,251,982 2,062,780 2,200,004 12
an KELLS CONGREGATION OF THE PRE58YfERIAN CHURCH IN IREL4ND BALANCE SHE s at 31 December 2023 Note Unre5trftted Funds Restrftted Endowment Funds Funds Total Funds 2023 Total Fund5 2022 Flxed assets: Tangible assets Totsl fixed assets li 3.047 3,047 1,782,863 L782,863 1.785,910 1.785,910 1,689,398 1,689,398 Current assets: Debtors Cash at bank and in hand Total current a55ets 12 13 19,879 68.313 88,192 19,100 289.680 308.780 38,979 433,349 472,328 36,452 478,380 514,832 75,356 75,356 Liabilitie5: Creditors.. amounts falling due within one year 14 11,7801 14,4761 16,2561 14,2261 Net curnt assets 86.412 304,304 75,356 466,072 510.606 Totsl assets less ojrrent Ilabllltles 89,459 1087.167 75.356 2,251,982 2,21XJ,W4 Creditors.. amounts falling due after one year Total net assets 89.459 2.087.167 75,356 2,251,982 2,21JJ.W4 Funds of the charity Restricted funds Unrestricted fLJnds Endowment funds 15 15 15 2.087,167 2,087,167 89,459 75,356 2,013,913 110,735 75,356 89.459 75,356 Total charity fvnds 89,459 2,087,167 75,356 2.251.982 2,2CiI,C04 Approved by the Kirk Session at a meeting 20 Febrvary 2024 and signed on its behalf bv.. JL Rev WB 8oyd Trustee Brian Turtle Trustee 13
an KELLS CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2023 l. Accounting pollcles IS OF FINANCIALATEmENTs The financial Statements have been prepared in accordance with applicable aCCOLJnting standards. While compliance with Statement of Recommended Practice Accounting 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 c05t convention except for investment assets, which are shown at market value. The financial statements include all transactions, assets, and liabilities 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 informal gatherings of church members. FUND ACCOUNTING Endowrnent funds are funds, the capital of which must be retained either permanently or at the congregation's discretion,. the income derived from the endowment is to be used either as restrirted or Un stricted income funds depending upon the purpose for which the endowment was estab115hed in the first place. Restricted funds comprise lal income from endowments which is to be expended only on the restricted purposes intended by the donor and Ibl revenue donations or grants for a specific congregational attivity intended by the donor. Where these funds have unspent balances, interest on their pooled investment is apportioned to the individual funds on an aver3ge ba515. Unrestrirted funds are income funds which are to be spent on the congregation's general purposes. Designated funds are general fund5 set aside by the congregation for use in the futLJre. INCOMING RESOURCES Recognltlon of Incomln8 resources These are included in the Statement of Financial Attivitie5 ISOFAI when.. The congregation become5 entitled to the resources. The trustees are virtually certain they will receive the resource5', and The monetary v31ue can be measured with sufficient reliably. Incomlng resources with related expendlture Where incoming resources have related expenditure las with fundraising Incornel the incoming resources and related expenditure are reported gross in the SOFA. Grants and donations Grants and donations are only included in the SOFA when the congregation has unconditional entitlement to the resources. Tax laimS on donatlons and gifts Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate. Contrartual income and performance related 8rants This is only included In the SOFA once the related good5 or services have been delivered. Grfts in kind Gifts in kind 3re accounted for at a reasonable estimate of their value to the charity or the amount artually realised. Gift5 in kind for sale or distribution are included in the account5 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 resources when receivable. 14
an KELLS CONGREGAMON OFTHE PRES8YTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS Iconydl Donated seNices and facllities These are only included in incorning resources (with an equivalent amount in resources expended) where the benefit to the charitv 15 reasonably quantifiable, measurable, and material. The value placed on these resources is the estimated value to the charity of the service or facility received. Volunteer help The value of any voluntary help received is not included in the accounts but is described in the trustees, annual report. Investment Income This is included In the accounts when receivable. IrNestment 8alns and losses This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market Value at the end of the year. EXPENDrruRE AND UA81LrriES ability recognltion Liabilities are recogni5ed as soon as there is a legal or constrLJttive obligation cornrnitting the congregation to pay out resources. Governance costs These Include costs of the preparation and examination of statutory account5, the costs of trustee meetings and cost of anv legal advice to trustees on governance or constitutional matters. Tan8lble Flxed Assets Tangible fixed assets for use by charity. These are capitalised 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 less estimated residual value. of each a55et over It5 expected useful life as follows. Buildings Fixtures and equipment -over 50 years -15% reducing balance DONATIONS AND LEGACIES Unrestrftted Funds Restrltted Funds End¢)wment Total Funds 2023 Funds Total Funds 2022 Recorded giving Loose collertions Donations and gifts Gift Aid Legacies and bequest 98,560 2,319 1,811 19,597 32,525 154.812 101,033 1,086 15,955 19,325 26 137,425 199,593 3,405 17,766 38,922 32,551 292,237 181,364 3,198 85,261 36,451 72,526 378,800 15
an KELLS CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE Accoumfs Iconvdl CHARABLE AcfiviTIES Unrestrirted Funds Restrftted Funds Total Funds 2023 Total Funds 2022 Income frorn charitable activities 167 167 16.495 16.495 16,662 16,662 7,040 7,040 OTHER TRADING ACTivrriES Unrestrlcted Funds Restrirted Fund5 Totsl Funds 2023 Total Fund5 2022 Fundraising events Letting of premises 18 18 18 INVEsfMEfvrrs Unrestrlcted Funds Restricted Fund5 Total Funds 2023 Total Funds 2022 Bank interest received 1,519 1.519 612 2,131 2,131 825 825 612 OTHER INCOME Unre5trirted Funds Restrltted Funds Totsl Funds 2023 Total Funds 2022 Other income 805 805 612 612 ILAISING FUNDS Unrestrfrted Funds Restrftted Funds Totsl Funds 2023 Total Funds 2022 FWO envelopes 355 355 355 334 334 355 16
an KELLS CONGREGAMON OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUTrtrs Icontrdl CHARITABLE ACTIVITES Unrestrfrted Funds Restritted Funds Totsl Funds 2023 Total Funds 2022 General Assembly Assessments Presbytery fees Ministry and support staff costs Congregational running expenses Donations to Missions and charities Governance cost5 13,293 655 99,646 28,827 13,293 655 99,646 101,973 41,542 2,411 259,520 11,709 581 92,966 101,813 36,349 6,309 249.727 73.146 41,542 15 114,703 2,396 144,817 EMPLOYEES Employment Costs 2023 2022 Wages and salaries Social Security Costs Pension contributions 76,520 5,023 10,078 71.627 4,941 9,585 Number ofemployees The average number of employees during the year were-. 2023 No 2022 No Average number of employee5 10. PENSION C05rs The minister of the congregation is a rnember 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 pays an assessment to the Presbyterian Church in Ire13nd equivalent to the employerfs pension contribution for the Scheme and based on the Stipend paid to the minister. The Presbyterian Church in Ireland Pension Scheme120091 15 a funded Scheme of the defined benefit type, providing defined benefits based on career averaged revalued salary. The Scheme has 35set5 held in a separately administered fund managed by a board of trustee5. The Presbyterian Church and the Scheme Trustees have agreed a funding plan to ensure the Scheme is sufficiently funded to meet current and future obligations. A formal Schedule of contributions wa5 drawn up on 25 November 2015 whereby the Presbyterian Church agreed to pay from 31 December 2015 contributions of 24% of pensionable salaries to coverthe accrual of benefits for future service, expenses. the cost of insuring death in service benefits and funding the scheme deficit. The contributions made by the congregation during the year were. 2023 2022 Contributions 8,941 8,516 17
an KELLS CONGREGATtON OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO ThE Accoufvrrs IConYdJ 11. TANGIBLE FIXED ASSET5 Church Church Hall Church Office Manse Flxtures & Equlpment Totsl cosr OR VALUATION At l January 2023 Additions Disposals At 31 December 2023 3,608,425 2,022,267 loo,000 5,836 5,736,528 139.495 139,495 3.6Q8,425 2.022,267 10),wJ 139.495 5.836 5,876,023 DEPRECIATION At l January 2023 Charge for the year Eliminated on d15posal At 31 December 2023 3,608,425 404,453 40,446 32,OCQ 2,LX)O 2,252 537 4,047,130 42,983 3,608.425 444,899 34,C( 2,789 4,090,113 BOOKVALUE At 31 December 2023 1,577,368 1,617,814 66.(JJl 68,000 139,495 3.047 3,584 1,785,910 1,689,398 At 31 December 2022 12. DE8TORS 2023 2022 Gift aid recoverable 38,979 38,979 36.452 36.452 13. C4SHAT BANKAND IN HAND 2023 2022 Current 8ccount Business Investment account Redwood Account Sunday Zone account Campaigners account Kells tots account Cash in hand 357,266 168 73,321 929 913 716 36 433.349 474.973 943 1,591 778 95 478,380 14. CREDrroRS: amourrtsfalllng due within one year 2023 2022 Other creditors Accrua15 4,816 1,440 6.256 536 3,690 4.226 18
an KELLS CONGREGATION OF THE PRESBERIAN CHURCH IN IREL4ND NOTES TO THE Accoufrifs Icongdl 15. FUND BALANCES Unrestricted Funds 2023 2022 General fund 89,459 89,459 110,735 110,735 Restricted Funds 2023 2022 Mission fund Property fund Manse fund preSberian Women Sunday Zone Campaigners Kells Tots 22,861 1,864,060 197,290 363 951 913 729 2,087,167 22.559 1,878,906 108,921 121 965 1,591 850 2,013,913 Endowment Funds 2023 2022 Bequest fund 75,356 75,356 75,356 75,356 Recondliation of movement of funds Openin8 balan Income Expendlture Trdnsfer a051ng balance Unrestrirted Funds General fund 110,735 110,735 156.516 156,516 1145,1721 1145,172) 132.6201 132.6201 89.459 89.459 Restrirted Funds Mission fund Property fund Manse fund Presbyterian Women Sunday Zone Campaigners Kell's Tots 22,559 1,878,906 108,921 121 965 1,591 850 2.013,913 63,625 49,582 38,169 1.814 163,2231 146,8481 iiooi 117,5801 50,2C() loo 22,861 1,864,060 197,290 363 951 913 729 2,087,167 11.6721 1151 11,9361 11,0091 1114,7031 1,258 888 155,337 31260 Endowment Fund5 Bequests 75,356 75,356 75,356 75,356 Total 2,2(K),C 311,853 1259.875) 2,251,982 19
an KE CONGREGATtON OFTHE PREsBRIAN CHURCH IN IRELAND NOTES TO THE ACCOU[5 {ConVdl 16. Related PartyTransattions Rev William Brian Boyd is a Trustee and received renumeration of £37,253 12022.. E35.4791 and pension contribution5 of £8,94112022.. £8,516) through PCI with £7.48412022.. £6,337) expenses being paid by the church. Mrs Margaret Fowler is the wife of Mr Robin Fowler who is a Trustee, and she was paid £10,04612022.. £9,422) in respert of her duties as caretaker during the year. 20