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 32 contributors during the year (up two from 2022) donating a total of £25,755 up from £24,783 the previous year. Total Income of the congregation during the year wa5 £44,345, compared to £44,121 in the previous year. Total expenditure increased from £22,786 in 2022 to £36,893 in 2022. The increased spend was mainly due to extensive works on the heating system for the church building. 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{31 of the Charities Act (Northern Ireland) 2008 to prepare a receipts and payment account and a 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 2910412024 and signed on its behalf by [Datel [Datel 24
an Independent Examinerfs Report to the Kirk Session of Killaig Presbyterian Church st I report on the accounts of the charity for the year ended 31 December 2023 which are set out on pages 3 to 9. Respective responsibilities of trustees and examiner As the charity'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 direction5 given by the Charity Commission for Northern Ireland under section 65(9)(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 as 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 15 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 {1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. David Wright BA FCCA 29 March 2024
an KILLAIG CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the year ended 31 December 2023 Note Unrestricted Funds Restricted Endowment Fund5 Funds Total 2023 Total 2022 Receipts Donations and legacies Charitable activities Other trading activities Investment Income Other 32,628 7,476 4,073 40,104 4,073 40,967 3,046 132 141 108 Sale of Investments Sale of fixed assets Loans Received Total Receipts 32,760 11,558 44,318 44,121 Payments Raising funds Charitable activities 76 17,686 499 18,632 575 36,318 429 22,357 Investment costs Other Purchase of Investments Purchase of fixed assets Loan Repayments Total Payments 17,762 19,131 36,893 22,786 Net receipts / (payments) Transfers between funds 14,998 -244 -7,573 -349 7,425 -593 21,335 Net movement in funds Funds brought forward 14,754 46,219 -7,922 80,187 6,832 126,406 21,335 105,071 Fund5 carried forward 12 60,973 72,265 133,238 126,406
an KILLAIG CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF ASSETS AND LIABILITIES As at 31 December 2023 Unrestrirted Funds Restricted Endowment Funds Funds Total Funds 2023 Total Funds 2022 Funds Reconciliation Bank and Cash at start of year Net movement in funds 46,219 14,754 80,187 -7,922 126,406 6,832 85,414 21,335 Bank and Cash at end of year 60,973 72,265 133,238 106,749 Bank & Cash Balances Bank Deposit Accounts Bank Current Accounts Cash in Hand 19,657 113,581 19,657 106,749 133,238 126,406 Other Assets Fixed Assets - Note 10 Church Premises Fixtures, Fittings & Equipment Vehicles Investments- Note 11 Gift Aid receivable on donations 1,801,251 Incl above 1,675,581 Incl above 19,657 19,657 1,820,908 1,695,238 Liabilities Loans Other Approved by the Kirk Session at a meeting on 29104/24 and signed on its behalf by [Name] ( LQ [Datel 29 {Date] 291,,12,
an KILLAIG CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTESTO THE ACCOUNTS 31 December 2023 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 {al 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 Unrestricted Funds Restricted Funds Endowment Funds Total 2023 Total 2022 Recorded giving: Loose collections Donations and gifts Gift Aid Legacies and bequest 26,959 5,669 5,868 1,608 32,827 7,277 33,330 7,637 32,628 7,476 40,104 40,967
an KILLAIG CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2023 CHARITABLE ACTIVITIES Unrestricted Funds Restricted Funds Endowment Funds Total 2023 Total 2022 Income from charitable activities Fees from weddings and funerals Fundraising event5 Membership fees Grants 3,773 300 3,773 300 2,746 4,073 4,073 2,746 4. OTHER TRADING AcfiviTIES Unrestricted Funds Restrlcted Endowment Funds Funds Total 2023 Total 2022 Letting of premises Trading income INVESTMENT INCOME Unrestricted Funds Restricted Endowment Funds Funds Total 2023 Total 2022 Deposit interest General Investment Fund Rents investment properties Other investment income 132 141 108 132 141 108
an KILLAIG CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) 31 December 2023 OTHER INCOME Unrestricted Funds Restricted Endowment Funds Funds Total 2023 Total 2022 Insurance claims Other income RAISING FUNDS Unrestrirted Funds Restricted Endowment Funds Funds Total 2023 Total 2022 FWO envelopes Fundraising events Special Service 76 76 499 94 335 499 76 499 575 429 CHARITABLE AcfiviTIES Unrestricted Funds Restricted Endowment Funds Funds Total 2023 Total 2022 General Assembly Assessments Presbytery fees Ministry and support staff costs Congregational running expenses Donations to Missions and charities Governance costs 2,521 184 6,928 8,053 2,521 184 6,928 20,635 6,050 2,037 200 6,512 6,523 6,991 12,582 6,050 17,686 18,632 36,318 22,263
an KILLAIG CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS {cont'd) 31 December 2023 OTHER EXPENDITURE Unrestrirted Funds Restricted Endowment Funds Funds Total 2023 Total 2022 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 £974,031 and £827,220 respectively on 31.10.23. 11. INVESTMENTS The congregation has the following investments. Amounts are shown at market valuation. 2023 2022 General Investment Fund Repair Fund Investment Property Other investment5 'from 12 *from 12 38,155 19,657 38,155 19,657 57,812 57,812
an KILLAIG CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) 31 December 2023 12. FUND BALANCES Fund Balance at start Receipts Payment Surplus / Transfer {Deficit) Balance at end Unrestrirted Funds General Fund 46,219 32,760 17,762 14,754 +153 -397 60,973 46,219 32,760 17,762 14,754 -244 60,973 Restrirted Funds Building Fund 17,195 4,811 12,420 -7,845 +32 -245 9,373 Organ Fund 3,821 30 -29 3,792 Missions and Charities Manse Fund 4,535 4,535 +268 -268 -153 Investment Account 38,155 153 38,155 Repair Fund Investment Sunday School 19,657 115 -115 +397 -397 19,657 Presbyterian Women Bowling Club 578 797 1,759 300 1,876 270 -117 30 461 827 80,187 11,673 19,131 -7,961 -503 72,265 Endowment Funds [Name of Fund] Total 126,406 44,433 36,893 6,793 -747 133,238