WELLINGTON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
STATEMENT OF FINANCIAL AcfiviTIES
Year ended 31 December 2022
Unrestrlcted
funds
Restricted
funds
Endowment
funds
Total
2022
Total
2021
Note
Income from:
Donations and legacies
Charitable activltles
Other tradin8 actlvltles
Investment income
Other Income sources
405,079
5,745
2,270
1,444
229
408,734
813,813
5.745
2,270
22,617
16,710
833,908
1,099
21,173
16,481
2.043
580
Total income
414,767
446,388
861,155
837,630
Expendlture on:
Rai5in8 funds
Charitable activitie5
Other
4,962
399,540
8,714
4,962
648,444
30,317
io
li
248,904
21,603
585,661
33.039
Total expendlture
413,216
270,507
683,723
618,700
Net income /lexpenditurel
Transfers between funds
1,551
400
175,881
14001
177,432
218,930
Net movement In lunds
1,951
175,481
177.432
218,930
Reconclllatlon of funds
Fund5 brought forward
20
387,408
5,838,665
182,034
6,408,107
6,189,177
Funds carried forward
20
389,359
6,014,146
182,034
6,585,539
6,408,107
All Income derlves Irom contlnulng a¢ttvltles; therelore, no statement of reeognlsed galns or1055es Is glven.
The comparative amount5 by funds have been dlsclosed on notes 2 & 3.
The notes on pages 20 to 32 form part of these finanaal statements
17

WELLINGTON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
BALANCE SHEET AS AT 31 DECEMBER 2022
Unrestrlrted
funds
Restrlrted
fund5
Endowrnent
funds
Total
2022
Total
2021
Note
Flxed a55ets
Tangible as5et5
Iz
29,889
5.480,567
5.510,456
5,642,191
Total flxed assets
29,889
5,480,567
5.510,456
5,642,191
Current assets
Debtors
Current investments
G3sh at bank & in hand
13
14
15
11,303
44,855
56,158
31,468
1,667,709
59,440
151,468
1.574.494
31,468
15.182
425,820
1.226,707
437,123
1.271,562
46,650
1,755,335
1,785,402
Credltors.. amounts falllng
due within one year
16
119,5021
1247.2501
1266,752)
1258,7401
Net curnent a55ets
417,621
1.024,312
46.650
1,488,583
1.526,662
Inter fund debtoys /
{creditors}
17
158,1511
177,2331
135,384
Total assets less current
389,359
6,427,646
182,034
6,999,039
7,168,853
Creditors.. amount5 fallin8
due after more than one
year
18
1413,5001
1413,5001
1760,7461
Total net assets
389.359
6,014,146
182,034
6,585,539
6,408,107
Funds carrled forward
20
389,359
6,014,146
182,034
6,5B5,539
6,408,107
Approved by the Kirk Session at a meeting on
2<1m/?013 and signed on its behalf by
offrey M rshall
n Marshall
John Mcclintock
The notes on pages 20 to 32 form part of these flnanclal statements
18

WELLINGTON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
STATEMENT OF CASH FLOWS
Year ended 31 December 2022
Note
2022
2021
Net Income / (expenditure)
177,432
218,930
Adjustments to reconclle net Income/ (expendlturej to net
cashjlowsfrom operoting actlvitie5
Depreclation of tan8ible flxed asset5
Loss I/Galnl on property disposal
Net finance cost5
Ilncrea5el / decrease in debtor5
Increase I Idecreaselin creditors
12
131,735
120,000)
18,669
3,182
8,440
132,508
22,565
33,985
12,5981
Net cash Inflow from operating actlvSties
319,558
405,390
Investing activities
Interest received
Proceed5 from property d15posa15
2,617
140,000
2,044
Net cash inflow from investing actlvSties
142,617
2,044
Financlng activltles
Interest paid
Capital expendlture
Repayment of long-term loans
121,2861
124,6091
118,8211
1253,3111
1347,6741
Net Cash {outflow) I Inflow from f inancin8 actlvities
{368,9601
1296,7411
Net increase / Idecreasel In cash and cash equivalents
Cash and cash equivalent5 at l January 2022
93,215
110,693
1,574,494
1,463,801
Cash and cash equlvalents at 31 De¢ember 2022
15
1,667,709
1,574,494
The notes on pages 20 to 32 form part of these financlal statements
19

WELLINGTON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS
Year ended 31 December 2022
I. ACCOUNTING POLICIES
The principal accounting policies adopted, jud8ements and key sources of estimation in the
preparation of the financial statements are as follows:
a) Basis of preparation
The financial statements have been prepared in accordance with the Charities SORP IFRS 1021
Accounting and Reporting by Charitie5: Statement of Recommended Practice applicable to
Charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland {FRS 102) (second edition- October 2019).
Wellington Congre8ation of the Presbyterian Church in Ireland meets the definition of a public
benefit entity under FRS 102. Assets and liabilities are initially recognised at historic cost or
transaction value unless Otherwise stated in the relevant accounting policy note5. The
financial statements i nclude all transactions assets and liabilities for wh ich the congregation
is responsible in law.
b} Preparation of accounts on a going concern basis
Wellington Congregation of the Presbyterian Church in Ireland has prepared the accounts on
a going concern basis. The balance sheet is strong with continued support by members.
c} Income
Income is recognised when the charity has entitlement to funds, conditions attached to the
itemlsl of income have been met, it is probable that the income will be received, and the
amount can be measured reliably, Income from government and other grants, whether
capital grant5 or revenue grants, is recognised when the charity has entitlement to the
funds, any performance conditions attached to the grant5 have been met, it is probable that
the income will be received, and the amount can be measured reliably and 15 not deferred.
Income from tax reclaims (Gift Aid) is recogni5ed at the same time as the gift to which they
relate.
20

WELLINGTON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (cont'd)
Year ended 31 December 2022
d) Donated services and facillties
In accordance with the Charities SORP IFRS 1021, the general volunteer time of the charity's
volunteers is not recognised financially in the Statement of Financial Activities, but their
valuable contribution is acknowledged in the Trustees, Report.
el Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be
measured reliably by the charity; this is normally upon notification of the interest paid or
payable by the bank.
f) Fund accounting
Unrestricted funds are available for use at the discretion of the Congregational Committee
in furtherance of the objectives of the charity.
Designated fund5 comprise unrestricted funds that have been set aside by the
Congregational Committee for particular purposes.
General funds may be transferred to designated funds where the Congregation Committee
wish to use these funds for a specific purpose, Such funds may be transferred back to
general funds once the criteria for the designation have been met or are no longer
applicable.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or
through the term5 of the appeal.
Expendable endowment funds are donations that have been given to the church and the
Kirk Session has elected to hold these as capital, The Trustees have the discretion to use
these funds as income.
g) Expenditure and Irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a
payment to a third party, it is probable that settlement will be required, and the amount
of the obligation can be measured reliably.
21

WELLINGTON CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (cont'd)
Year ended 31 December 2022
Expenditure is accounted for on an accruals basis and ha5 been classified under the
following he3dings:_
expenditure on raising funds includes all expenditure on fundraising activities and
other costs incurred on raising funds for charitable purpose,
expenditure on charitable activities includes the costs of central church assessments,
ministry and support Staff, core team and organizational expenditure, church running
and administration costs, donations and other support services to further the
purposes of the charity,
other expenditure represents those items not falling into any other heading.
The church is not registered for VAT purposes, therefore irrecoverable VAT is either charged
to the Statement of Financial Activities or is capitalized as part of the cost of the related asset,
where appropriate.
h) Allocation of support costs
Support costs are those function5 that assist the work of the charity but do not directly
undertake charitable activities. Support Costs include back-office costs, finance, human
resources, payroll and governance costs which support the charity's activities.
i) Operating leases
The Church has no operating leases.
j) Tangible flxed a55ets
Items of property, fixtures and equipment are capitalised if they can be used for more
than one year and c05t at least £2,000. They are stated at cost less accumulated
depreciation and impairment losses, if any. The depreciable amount is the cost of an asset
less its residual value.
Depreciation is charged to the Statement of Financial Activities on a straight-line basis so a5
to write off the depreciable amount of the asset over its estimated useful life as follows".
Freehold land
Property
Fixtures & equipment
Not depreciated
50 year5
20% strai8ht line 1150A straight line
The residual value and useful life of property, fixtures and equipment are reviewed at each
balance sheet date and updated for any changes.
22

WELLINGTON CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (cont'd
Year ended 31 December 2022
k) Debtors
Operational and other debtors are recognised at the settlement amount due.
Prepayments are valued at the amount prepaid.
l) Cash at bank and in hand
Cash at bank and In hand include5 cash and short term liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or
similar account.
m) Creditors and provisions
Creditors and provisions are recogni5ed where the charity has a present obligation
resulting from a past event that will probabSy result in the transfer of funds to a third party
and the amount due to Settle the obligation can be measured or estimated reliably.
Creditors and provisions are normally recognised at their settlement amount after allowing
for any trade discounts due.
23

WELLINGTON CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (cont'd)
Year ended 31 December 2022
Statement of Financial Actlvltles: Unrestricted funds
Note
2022
2021
Income frorn:
Donation5 and legacies
Charitable activities
Other trading activities
Investment income
Other income 50urce5
405,079
5,745
2,270
1,444
229
396,320
1,099
944
580
Total Inrome
414,767
398,943
Expenditure on:
Raisin8 funds
Charitable activlties
Other
4,962
399,540
8,714
io
li
352,568
8,172
Total expendlture
413,216
360,740
Net income Ilexpenditurel
Transfers between funds
1,551
400
38,203
500
Net movement In funds
1,951
38,703
Reconclllatlon of funds
Funds brought forward
20
387,408
348,705
Funds carried forward
20
389,359
387,408
24

WELLINGTON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS Icont'd)
Year ended 31 December 2022
3. Statement of Financlal Activities: Restricted fund5
Note
2022
Z021
Income from..
Donations and legacies
Investment income
Other income sources
408,734
21.173
16.481
437.588
I,ioo
Total income
446,388
438,688
Expenditure on:
Chayitable activities
Other
ID
li
248,904
21.603
233,093
24,868
Total expendlture
270,507
257.961
Net income llexpenditurel
Transfers between funds
175,881
14001
180,727
15001
Net movement in funds
175,481
180,227
Reconciliatlon of funds
Funds brought forward
20
5,838,665
5,658.438
Funds carried forward
20
6,014,146
5.838,665
DONATIONS AND LEGACIES
Unrestrlcted
fund5
Restrlcted
funds
Endowment
fund5
Total
2022
Total
2021
Recorded giving:
Loose collection5
Donation5 and gifts
Gift aid
Le8acies and bequests
6.659
335,620
62,800
6,659
6S9,426
125,328
2Z,400
4,16Q
637,205
120,814
71,729
323,806
62,528
22,400
405,079
408,734
813,813
833,908
25

WELLINGTON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS {cont'd)
Year ended 31 December 2022
5. CHARITABLE AcfiviTIES
Unrestricted
funds
Restricted
funds
Endowment
funds
Total
2022
Total
2021
Fees from wedding5 and
funera15
Fundraising events
Sundry income
Literature sales
2,160
2,160
480
1,791
1,794
1,791
1,794
359
260
5,745
5,745
1,099
6. OTHER TRADING AcfiviTIES
Unrestricted
funds
Restrlcted
funds
Endowment
funds
Total
2022
Total
2021
Letting of premises
2.270
2,270
2,270
2,270
7. INVESTMENT INCOME
Unrestrlrted
funds
Restrlcted
funds
Endowment
funds
Total
2022
Total
2021
Deposit interest
Profit on investment
disposal
1,444
1,173
20,000
2,617
20,000
2,043
1,444
21,173
22.617
2.043
OTHER INCOME
Unrestricted
funds
ReStrI￿ed
funds
Endowment
funds
Total
2022
Total
2021
Other incorne
229
16,481
16,710
580
229
16,481
16,710
580
26

WELLINGTON CONGREGATION OF THE PRESBITERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (cont'd)
Year ended 31 December 2022
RAISING FUNDS
Unrestricted
funds
Restricted
funds
Endowment
funds
Total
2022
Total
2021
FWO envelopes
4,962
4,96Z
4,962
4,962
10. CHARITABLE AcfiviTIES
Unrestricted
fund5
Restrl¢ted
fund5
Endowment
fund5
Total
2022
Total
2021
General Assemblv
Assessment5
Presbytery fees
Ministry and 5UPPOrt staff
costs
Congregational runnin8
expenses
Donation5 to mission5 and
charities
Personal support
Depreciation (Note 12)
Governance costs
39,770
1,625
12,526
52,296
1,625
49,621
1,805
186,218
186,218
202,006
123,375
17,423
140.798
87,538
15,000
54,831
38,921
121,683
3,520
69,831
38,921
131,735
27,020
66,358
37,948
132,508
7,877
10,052
23,500
399,540
248.904
648,444
585,661
11. OTHER EXPENDITURE
Unrestricted
funds
Restricted
funds
Endowment
fund5
Total
2022
Total
2021
Loan interest
Bank charge5
Sundry
Catering costs
21,286
317
21,286
648
1,734
6,649
24,609
253
4,852
3.325
331
1,734
6,649
8,714
21,603
30,317
33.039
Total
20Z2
Total
2021
Net Income
Net income is stated after charging I IcreditinBI:
Auditor'5 remLJneration
3,840
3,600
27

WELLINGTON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (cont'd)
Year ended 31 December 2022
12. TANGIBLE FIXED ASSETS
Church
bulldln8S
Fixture5 &
Equlpment
Land
Manse
Total
COST
At l January 2022
Additions
Disposa15
I,ioo,000
5,634,129
450,000
135,266
7,319,395
At 31 December 2022
I,ioo,000
5,634.129
450,000
135.266
7.319,395
DEPRECIATION
At l January 2022
Charge for the year
Eliminated on disposal
1,464,879
112,683
117,000
9,000
95,326
10,052
1,677,205
131,735
At 31 December 2022
1,577,562
126,000
105.378
1.808.940
NET BOOK VALUE
At 31 December 2022
I,iOO,ODO
4,056,567
324,000
29,889
5,510,456
At 31 December 2021
I,ioo,000
4,169,250
333.000
39.941
5,642,191
13. DEBTORS
2022
2021
Gift aid recoverable
CAF vouchers
5undrv
War loan debtor
17,789
50
2,934
35,385
21,698
50
2,307
3S,385
56,158
59,440
28

WELLINGTON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (cont'd)
Year ended 31 December 2022
14. INVESTMENTS
The congregation has the following investments. Amounts are shown at cost.
2022
2021
National SavinEs Income Bonds
Investment property held for sale
31,468
31,468
120,000
31,468
151,468
The Investment property19 Circular Road. Ballymenal was sold during the year for £140,000 after selling costs
15. CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise the followin8',
2022
2021
Cash at bank and in hand
1,667,709
1,574,494
16. CREDITORS: Amounts falling due within one year
2022
2021
Accruals and deferred income
Other creditor5
Ulster bank loan
Other taxation and Social security
15,225
41,914
208,634
979
5,710
43,024
209,062
944
266,752
258,740
17. Inter fund debtors/ (creditors)
Inter fund debtor and credltors balances are included to represent the amount5 owed between funds.
18. CREDITORS: Amounts falling due after one year
2022
2021
Ulster bank loan
Sundry loan5
Elsie Steele Trust loan
347,246
3,500
410,OQO
760,746
3,500
410,000
413,500
29

WELLINGTON CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (cont'd)
Year ended 31 December 2022
19. BANK AND OTHER BORROWINGS
On the 25, June 2015 the Ulster Bank provided the congregation of Wellington Presbyterian Church with a
loan of £2,48Q,000. The loan is repayable at 3% over the base rate for the entlrety of the term of the loan
ntil January 2031.
The loan is secured by a legal charge over the Church premises at 28 Sourhill Road, Ballymena, Co. Antrim
and associated assets.
The Elsie Steele Trust provided the Church with a loan of £410,000 to be repaid at the end of a twenty five -
vear period. The loan is at a fixed rate of 4% and has another nine years to run. The Elsie Steele Trust has a
secondary char8e over the Church premise5 at 28 Sourhill Road, Ballymena, Co Antrim and assoclated
assets.
20. FUND BALANCES
Balance at
01101122
Surplu51
Ideflcit)
Balance at
31112122
Receipts
Payments
Transfefs
Unrestricted funds
General fund
387,408
414,767
1413,2161
1,551
400
389,359
Restrlcted fund5
Old property reserve
Benevolent fund
Misslon fund
New buildin8 fund
Or8anisations' fund
24,341
131
104,888
5,679,071
30,234
332
332
24,673
131
119,036
5,836,139
34,167
113,774
300,271
32,011
199,6261
1143,2031
127,6781
14,148
157,068
4,333
14001
5,838,665
446,388
1270,5071
175,881
14001
6.014,146
Endowment funds
Endowments
182,034
182,034
Total fund5
6,408,107
861,155
1683,7231
177.432
6.585,539
The following Is a list of the restricted funds in use together with a description of their use..
The old property fund is used to fund capital projects and the on-going maintenance and development of
the propertie5 owned and used by the congregation in its mi55ion.
The new building fund wa5 launched to fund the move to the New Premlses where the Church Is now
located.
The benevolent fund is used for social outreach proBrammes into the local community.
The mission account IS Used to meet our commltments to PCI and non-conBregational mission at home and
overseas.
The organisations fund is the total funds of all church organisations.
30

WELLINGTON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (cont'd)
Year ended 31 December 2022
21. EMPLOYEES NUMBERS AND STAFF COSTS
Employment costs
2022
2021
Wages and salarie5
Employer's social security
Employer's pension contributlon
147,090
9,452
12,294
168,836
146,822
9.019
1.196
157,037
Number ot employees:
The number of staff employed by the church on 31 December 2022 was 912021- 71
Staff salaries are in line with the salary scales malntained by the Presbyterian Church in Ireland IPCII.
No employees received rernuneration in excess of £60,000.
Pension costs
The minlster of the congregatSon 15 a member of the Presbyterlan Church in Ireland Pension Scheme120091. Thls
is a scheme operated by the Presbyterian Church in Ireland. a separate registered charity. The congregation pays
an assessment to PCI equivalent to the employer's pension contribution for the Scheme and based on the
stipend paid to the minister. The PCI Scheme120091 is a funded scheme of the defined benefits type, providing
defined benefits based on career average revalued salary. The Scheme has assets held in a separately
administered fund managed by a board of trustees. The Presbyterian Church and the scheme trustees have
agreed a fLtndlng plan to ensure the Scheme is suff iciently funded to meet current and future obligations. A
formal schedule of contribution5 was drawn up on 25, November 2015 whereby the Presbyterian Church agreed
to pay, from 31" December 2015, contributions of 24% of pensionable salaries to cover the accrual of benefits
for future service, expenses, the cost of insuring death in service benefits and fundlng the scheme deficit.
2022
2021
The contributions made by the congregation during the year were a5 follows:
Pension costs
11,118
10.874
All other staff employed by the congregation are automatically enrolled in the SMART PENSION scheme. This
scheme and its assets are held by an independent scheme manager. The contributions made by the
congregation to this scheme were, 2022.. £1,17612021.' £1,196).
31

WELLINGTON CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (cont'd)
Year ended 31 December 2022
19. RELATED PARTY TRANSACTIONS
One of the trustees, the mlni5ter of the congregation. received remuneratlon of £46,327 and expense5 of
£1,353 for actin8 in that capacity. Penslon contribution5 of Ell,118 were paid by the congregation in respect
of the minister.
Another trustee, Mr Mervyn Orr received remuneration of E6,008 as a result of his employment by the
hurch.
No other charity tFUStee, other than the minister meniSoned above, recelved payment for profe55ional or
other services supplied to the charity.
Durlng the year the congregatlon contrlbuted the following amounts to Funds of the General Assembly of the
Presbyterian Church In Ireland, a separate charity..
£126,345 for congregatlonal asse55ments, whlch includes E46.327 for the minister's Stipend.
£31,314 towards the United Appeal
Mr Geoffrey Marshall and Mr Mark Hood, trustees of the Church are also trustees of the Elsle Steele Trust, a
charitable trust, which has made a loan of £410,000 to Wellington Presbyterian Church. This is an interest
only loan, wlth Interest being charged at 4% per annum and capital repayable at the end of twenty-five
year5. There are nine years to run on the loan on 31 December 2022.
32