an MAGHERAMASON CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND Trustees Annual Report and Financlal Statements For the year ended 31 December 2023 Registered Charity in Northern Ireland (NIC105376}
an MAGHERAMASON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMEhlT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the yea'r ended 31 December 2023 Note Unrestrirted Funds Restricted Endowment Total 2023 Total 2022 Funds Funds Receipts Donations and legacies Charitable activities Other trading activities Investment Income Other 86,947 3,384 412 1,891 528 33,225 3,989 120,172 7,373 412 2,016 528 114,895 3,200 342 352 556 125 93,162 37,339 130,501 119,345 Sale of Investments Sale of fixed assets Loans Received Total Receipts 93162 37,339 130,501 119,345 Payments Raising funds Charitable activities Investment costs 3032 91,754 3,032 128,564 1,179 127,541 36,810 94,786 36,810 131,596 128,720 Purchase of Investments Purchase of fixed assets Loan Repayments Total Payments 94,756 36,910 131,596 128,720 Net receipts / (payments) Transfers between funds {1,624) 10,730 529 {10.730) (1,095) {9,375} Net movement in funds Funds brought forward 9,106 69,894 (10,201) 36,828 (1,095) 114,722 (9,375) 124,097 8,000 Funds carried forward li 79,000 26,627 8,000 113,627 114,722
an MAGHERAMASON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF ASSETS AND LIABILITIES As at 31 December 2023 Unrestricted Funds Restricted Endowment Funds Funds Total Funds 2023 Total Fund 2022 Funds Reconciliation Bank and Cash at start of year Net movement in funds 69,894 9,106 36,828 (10,201) 8,000 114,722 11,095) 124,097 {9,375) Bank and Cash at end of year 79,000 26,627 8.000 113,627 114,722 Bank & Cash Balances Bank Current Accounts Building Society Account 'Cash in Hand 41,426 71,486 715 44,384 69,595 743 113,627 114,722 Other Assets Fixed Assets- Note 9 Church Premises 4,920,670 4,577,368 4nvestments- Note 10 Investments . Gift Aid receivable on donations 185 18,272 185 17,710 4,939,127 4,595,263 Liabilities Loans Approved by the Kirk Session at a meeting on 16 April 2024 and signed on its behalf by v Graeme Orr Leslie Hamilton Date: 16dA ,.( 10
an MAGHERAMASON CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2023 ACCOUNTING POLICIES BASIS OF FINANCIAL STATEMENTS As the total income of the congregation is less than £250,LY)O the congregation have elected in accordance with the provisions in The Charities (Accounts and Reports Regulations {Northern Ireland) 2015 to prepare its accounts on a receipts and payments basis. FUND ACCOUNTING Endowment 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 restricted or unrestricted income funds depending upon the purpose for which the endowment was established in the first place. Restricted funds comprise (a) income from endowments which is to be expended only on the restricted purposes intended by the donor and (b) revenue donations or grants for a specific congregational activity intended by the donor. Where these funds have unspent balances, interest on their pooled 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's general purposes. Designated funds are general funds set aside by the congregation for use in the future. DONATIONS AND LEGACIES income Unrestricted Funds Restricted Funds Endowment Funds Total 2023 Total 2022 Recorded giving L005e collections Donations and gifts In Memoriam In Lieu of Flowers Gift Aid Legacies and bequest 67,631 3,649 2.310 18,482 6,747 859 555 1,990 4,592 86,113 10,396 3,169 555 1,990 17,949 80,746 11,770 3,171 370 1,365 17,473 13,357 86,947 33,255 120,172 114,895 11
an MAGHERAMASON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2023 CHARITABLE ACTIVITIES income Unrestricted Funds Restricted Funds Endowment Total 2023 Total 2022 Funds Fundraising events 3,384 2,389 5,773 200 Grants 1,600 1,600 3,000 3,384 3.989 7,373 3,200 OTHER TRADING ACTIVITIES income Unrestricted Funds Restricted Funds Endowment Totsl 2023 Total 2022 Funds Letting of premises Ground Rent INIE Pole) 410 410 340 412 412 342 INVESTMENT INCOME Unrestrirted Funds Restricted Funds Endowment Total 2023 Total 2022 Funds Investment interest Bank Interest 1,891 97 28 1,988 28 100 252 1,891 125 2,016 352 12
an MAGHERAMASON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (conVd} 31 December 2023 OTHER INCOME Unrestricted Restricted Endowment Total 2023 Total 2022 Funds Funds Funds Cheque Cancelled Periodicals & Calendars Refund Pulpit Supplies 528 528 506 50 528 528 556 RAISING FUNDS Unrestricted Funds Restricted Endowment Total 2023 Total 2022 Funds Funds FWO envelopes Fundraising events 532 2,500 532 2,500 1,179 3.032 3,032 1,179 CHARITABLE AcfiviTIES Unrestricted Funds Restricted Endowment Total 2023 Total 2022 Funds Funds General Assembly Assessments Presbytery fees Ministry and support staff costs Congregational running expenses Donations to Missions & charities Governance costs 16,066 940 54,893 18,655 1,200 16,066 940 54,893 38,064 18,601 15,262 896 52,231 37,861 21,291 19,409 17.401 91,754 36.810 128,564 127,541 13
an MAGHERAMASON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (conyd) 31 December 2023 FIXED ASSETS The congregation owns the Church premises situated at 137 Victoria Road, Magheramason and a manse situated at 139 Victoria Road, Magheramason for the minister and a caretakerfs cottage at 3 Mason Road, Magheramason and the associated fixtures, fittings and equipment. The premises and contents etc. have an insurance value of £4,939,127 10. INVESTMENTS The congregation has the following investments. Amounts are shown at market valuation. 2023 2022 Permanent Endowments 185 185 185 185 14
an MAGHERAMASON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS {conVd) 31 December 2023 11. FUND BALANCES Balance at start Receipts Payment Surplus / (Deficit) Transfer Balance at end Fund Unrestricted Funds General Account {Name of Fundl 69,894 93,162 94,786 (1,624) 10,730 79,000 69,894 93,162 94,786 (1,624) 10,730 79,000 Restricted Funds Manse Property Fund Mission & Charities Boys, Brigade Girls, Brigade Sunday School (Explorers) Bowling Club Parent & Toddler pw Funeral Teas Afternoon Club 1,224 24,302 1,265 802 2,455 493 3,152 317 635 1,891 292 624 8.513 16,673 2,761 4,266 596 40 158 1,974 578 (624) 1,450 {324) (1551 14631 (131) 103 600 15,752 1,449 647 2,618 362 2,855 320 1,717 9,963 16,349 2,606 4,729 465 143 161 2,056 {io,0001 508 (300) (4001 82 {578) 240 1000 {1313} (225) 627 307 36,828 37,339 36,810 529 (10.730) 26,627 Endowment Funds Legacies Bequests 8,000 8,000 8,000 Total 114,722 130.501 131,596 (1,095) 0 113,627 15