Presbyter an KILLAIG CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND FINANCIAL REVIEW The congregation's main source of income is members, contributions through the Weekly Freewill Offering. There were 30 contributors during the year (down four from 2021) donating a total of £24,783 down from £26,815 the previous year. Total Income of the congregation during the year was £44,121, compared to £49,871 in the previous year. Total expenditure also fell from £34,598 in 2021 to £22,786 in 2022. The lower income was largely due to an exceptional item in 2021, when a significant monetary gift was given to the retiring minister. The absence of a minister for the whole of the financial year also resulted in a reduction in expenditure due to lower wage and pension costs. STATEMENT OF TRUSTEE RESPONSIBILITIES The Trustees are responsible for preparing the annual report and the financial statements of the congregation in accordance with applicable law and generally accepted accounting practice. As the congregations total income does not exceed £250,000, the Trustees have elected under Section 64{3) of the Charities Act {Northern Ireland) 2008 to prepare a receipts and payment account and statement of assets and liabilities. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the congregation's transactions and disclose with reasonable accuracy at any time its financial position. They are also responsible for safeguarding the assets of the congregation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Kirk Session at a meeting on 23/05/2023 and signed on its behalf by [Name] 3 Llll [Il' :7 [DateJ J'3,d Ill '2G23. [Name] i&Jl [Date] ZSa Independent Examinerfs Report to the Kirk Session of Killaig Presbyterian Church
an I report on the accounts of the charity forthe year ended 31st December 2022 which are set out on pages 3 to 9. Respective responsibilities of trustees and examiner As the charit¢s trustees you are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland} 2008. It is my responsibility to: Examine the accounts under section 65 of the Charities Act; Follow the procedures laid down in the general directions given by the Charity Commission for Northern Ireland under section 65(91(bl of the Charities Act; and State whether particular matters have come to my attention. Basis of independent examiner's report I have examined your charity accounts a5 required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Norther Ireland under section 65{9)(b) of the Charities Act. My examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts and seeking explanations from you as charity trustees concerning any such matters. My role is to State whether any materials have come to my attention giving me cause to believe: l. The accounting records were not kept in accordance with section 63 of the Charities Act 2. That the accounts do not accord with those accounting records 3. That the accounts do not comply with the accounting requirements of the Charities Act 4. That there is further information needed for a proper understanding of the accounts to be reached. Independent Examinerfs Statement I have completed my examination and have no concerns in respect of the matters (l) to141 listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawingto your attention. David Wright BA FCCA 13 April 2023
an KILLAIG CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the year ended 31 December 2022 Note Unrestricted Funds Restricted Endowment Funds Funds Total 2022 Total 2021 Receipts Donations and legacies Charitable activities Other trading activities Investment Income Other 31,135 9,832 3,046 40,967 3,046 47,468 2,366 94 14 108 37 Sale of Investments Sale of fixed assets Loans Received Total Receipts 31,229 12,892 44,121 49,871 Payments Raising funds Charitable activities 94 14,763 335 7,594 429 22,357 722 33,876 Investment costs Other Purchase of Investments Purchase of fixed assets Loan Repayments Total Payments 14,857 7,929 22,786 34,598 Net receipts / (payments) Transfers between funds 16,372 -310 4,963 310 21,335 15,274 Net movement in funds Funds brought forward 16,062 30,157 5,273 74,913 21,335 105,071 15,273 86,798 Funds carried forward 12 46,219 80,187 126,406 105,071
an KILLAIG CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF ASSETS AND LIABILITIES As at 31 December 2022 Unrestricted Funds Restricted Endowment Funds Funds Total Funds 2022 Total Funds 2021 Funds Reconciliation Bank and Cash at start of year Net movement in funds 30,157 16,062 55,257 5,273 85,414 21,335 70,141 15,273 Bank and Cash at end of year 46,219 60,530 106,749 85,414 Bank & Cash Balances Bank Deposit Accounts Bank Current Accounts Cash in Hand 19,657 106,749 19,657 85,414 126,406 105,071 Other Assets Fixed Assets- Note 10 Church Premises Fixtures, Fittings & Equipment Vehicles Investments- Note 11 Gift Aid receivable on donations 1,675,581 Incl above 1,528,991 Incl above 19,657 19,657 1,695,238 1,548,648 Liabilities Loans Other Approved by the Kirk Session at a meeting on 23105/23 and signed on its behalf by [Name] [Name] I IDatel [Date]
Presbyter an KILLAIG CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2022 ACCOUNTING POLICIES BASIS OF FINANCIAL STATEMENTS As the total income of the congregation is less than £250,000 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 Ib) 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 Unrestricted Funds Restricted Endowment Funds Funds Total 2022 Total 2021 Recorded giving: Loose collections Donations and gifts Gift Aid Legacies and bequest 25,304 5,831 8,026 1,806 33,330 7,637 39,594 7,874 31,135 9,832 40,967 47,468
an KILLAIG CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2022 CHARITABLE ACTIVITIES Unrestricted Funds Restricted Funds Endowment Funds Total 2022 Total 2021 Income from charitable activities Fees from weddings and funerals Fundraising events Membership fees Grants 2,746 300 2,746 300 1,680 3,046 3,046 2,366 4. OTHER TRADING ACTIVITIES Unrestricted Funds Restricted Endowment Funds Funds Total 2022 Total 2021 Letting of premises Trading income INVESTMENT INCOME Unrestricted Funds Restricted Funds Endowment Funds Total 2022 Total 2021 Deposit interest General Investment Fund Rents investment properties Other investment income 94 14 108 37 94 14 108 37
Presbyter an KILLAIG CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS Icont'd} 31 December 2022 OTHER INCOME Unrestricted Funds Restricted Endowment Funds Funds Total 2022 Total 2021 Insurance claims Other income RAISING FUNDS Unrestricted Funds Restricted Endowment Funds Funds Total 2022 Total 2021 FWO envelopes Fundraising events Special Service 94 94 335 242 240 240 335 94 335 429 722 CHARITABLE ACTIVITIES Unrestricted Funds Restricted Endowment Funds Funds Total 2022 Total 2021 General Assembly Assessments Presbytery fees Ministry and support staff costs Congregational running expenses Donations to Missions and charities Governance costs 2,037 200 6,512 5,920 2,037 200 6,512 6,523 6,991 3,945 145 11,139 13,677 4,970 603 6,991 14,669 7,594 22,263 33,876
an KILLAIG CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (conyd) 31 December 2022 OTHER EXPENDITURE Unrestricted Funds Restricted Funds Endowment Funds Total 2022 Total 2021 Investment properties expenses 10. FIXED ASSETS The congregation owns the Church premises situated at 90 Killeague Rd and 50 Kinneyglass Rd, Coleraine and the associated fixtures, fittings, plant and machinery. These have an insurance value of £906,075 and £769,506 respectively on 31.10.22. 11. INVESTMENTS The congregation has the following investments. Amounts are shown at market valuation. 2022 2021 General Investment Fund Repair Fund Investment Property Other investments 'from 12 *from 12 38,155 19,657 38,155 19,657 57,812 57,812
Presbyter an KILLAIG CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) 31 December 2022 12. FUND BALANCES Fund Balance at start Receipts Payment Surplus / Transfer (Deficit) Balance at end Unrestrirted Funds General Fund 30,157 31,229 14,857 16,062 +166 -476 46,219 30,157 31,229 14,857 16,062 -310 46,219 Restrirted Funds Building Fund 12,007 5,578 177 5,172 +21 -250 17,179 Organ Fund 3,850 30 -29 3,821 Missions and Charities Manse Fund 5,713 5,753 250 +40 +250 Investment Account 38,155 166 -166 38,155 Repair Fund Investment Sunday School 19,657 86 -86 +436 -22 19,657 414 Presbyterian Women Bowling Club 448 797 1,435 1,305 130 578 797 74,915 12,978 7,929 5,273 224 80,187 Endowment Funds {Name of Fund] Total 105,072 44,207 22,786 21,335 -86 126,406