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