WELLINGTON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
STATEMENT OF FINANCIAL AcfiviTIES
Year ended 31 December 2023
Unrestrlcted
fund5
Restrlcted
fund5
Endowment
funds
Total
2023
Total
2022
Note
Income from:
Donations and legacies
Charitable activities
Other trading activities
Investment Income
Other income Sources
499,135
4,465
24,530
1,729
877
402,476
901,611
4,465
24,530
3,873
18,384
813,813
5,745
2,270
22,617
16,710
2,144
17,507
Total Income
530,736
422,127
952,863
861,155
Expenditure on:
Raising funds
Chariiable activities
Other
2.106
420,852
14,234
2,106
644,674
33,309
4,962
648,444
30,317
io
li
223,822
19,075
Total expendlture
437,192
242,897
680,089
683,723
Net income Ilexpenditurel
93,544
179,230
272,774
177,432
Net movement In funds
93,544
179,230
272,774
177,432
Reconciliation of funds
Funds brought forward
zo
389,359
6.014, 146
182,034
6,585,539
6,408,107
Funds carrled forward
20
482,903
6,193,376
182,034
6,858,313
6,585,539
All Income derlve5 from contlnulng activities. therefore, no statement of recognlsed 8alns or losse5 Is glven.
The ¢omparatlve amounts by funds have been dls¢losed on notes 2 & 3.
The notes on pages 20 to 32 form part of these financial statements
17

WELLINGTON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
BALANCE SHEET AS AT 31 DECEMBER 2023
Unrestrlctod
funds
Restrl¢ted
funds
Endowment
funds
Note
Total
202.3
Total
2022
Flxed assets
TanEible assets
12
19,139
5,358,884
5,378,07.3
5,510,456
Total fixed assets
19.139
5.358,884
5,378,023
5,5 10,456
Current assets
Debtors
Current investments
Cash al bank & in hand
13
14
15
7,463
44,133
51,596
31,468
1,826,505
56, 158
31,648
1.667,709
3 1.468
15,182
530,181
1,281,142
537,644
1,325,275
46,650
1,909,569
1,75S,335
Cieditor5.' amounts falllnB
due within one year
16
115,7291
1501
115,77YI
1266,7521
Net current assets
521,915
1,325,225
46,650
1,893,790
1,488,583
Inter fund debtors I
l¢redltorsl
17
158,1511
177.2331
135,384
Total asset5 less current
482,903
6,606,876
182,034
7,271,813
6,999,039
Creditors.. amounts fallin8
due after more than one
vear
18
1413,5001
1413,50UI
1413,5001
Total net 355et5
482,903
6, 193,376
182,034
6,858,313
6,585,539
Funds carrled forward
zo
482,903
6,193,376
182,034
6,858,313
6,585,539
Approved by the Kirk Session at a meeting on
2g/io/2oZy and signed on its behalf bv
offrey Marshall
Jo
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 2023
Note
2023
2022
Net In¢ome I lexpenditure}
272,774
177,432
Adjustments to reconclle net Incorne /{expendltureJ to net
cash flows Arom operotlng actlvltle5
Depreclation of tangible fixed a55ets
Loss I/Gainl on property disposal
Net finance costs
Ilncreasel / decrease in debtors
Increase I Idecrea5elin Creditors
12
132,433
131,735
120,0001
18,669
3,282
8,440
13,985
4,562
142,3391
Net cash Inflow from operating actlvltles
108,641
319,558
Investing activities
Interest received
Proceeds from property disposals
3,873
2,617
140,000
Net cash Inflow from Investing a¢tivities
3,873
142,617
Flnanclng actlvltles
Interest paid
Repayment of lon8-term loans
117,8581
1208,6341
121,2861
1347,6741
Net cash loutflowl / Inflow from flnanclng actlvltle5
1226,492)
1368,9601
Net Increase / Idecreasel In cash and cash equlvalents
Cash and cash equivalents at l January 2023
158,796
93,215
1,667,709
1,574,494
Cash and cash equivalents at 31 De¢ember 2023
15
1,826,505
1,667,709
The notes on pages 20 to 32 form part of these financial statements
19

WELLINGTON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS
Year ended 31 December 2023
I. ACCOUNTING POLICIES
The principal accounting policies adopted, judgements and key sources of estimation in the
preparation of the financial statements are as follows.,
al Basis of preparation
The financial Statements have been prepared in accordance with the Charities SORP IFRS 102)
Accounting and Reporting by Charities.. 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 Congregation of the Presbyterian Church in Ireland meets the definition of a public
benefit entity under FRS 102. Assets and liabilities are initially recogn ised at historic cost or
transaction value unless otherwise stated in the relevant accounting policy note5. The
financial statements include all transactions assets and liabilities for which 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
going concern basis. The balance sheet is strong with continued support by member5.
c) Income
Income 15 recognised when the charity has entitlement to funds, conditions attached to the
item(sl of income have been met, it is probable that the income will be received, and the
arnount can be measured reliably. Income from government and other grants, whether
capital grants or revenue grants, is recognised when the charity has entitlement to the
funds, any performance conditions attached to the grants have been met, it is probable that
the income will be received, and the amount can be measured reliably and is not deferred.
Income from tax reclaims (Gift Aid) is recognised 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 2023
d) Donated services and facilities
In accordance with the Charities SORP {FRS 102), the general volunteer time of the charity's
volunteer5 is not recognised financially in the Statement of Financial Activities, but their
valuable contribution is acknowledged in the Trustees, Report.
e) Interest receSvable
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 funds 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 fund5 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.
gl Expenditure and irrecoverable VAT
Expenditure is recognised once there 15 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 PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS {cont'd)
Year ended 31 December 2023
Expenditure 15 accounted for on an accruals basis and has been classified under the
followin8 headin8S:_
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 15 capitalized as part of the cost of the related asset,
where appropriate.
h) Allocatlon of support costs
Support costs are those functions 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.
il Operating leases
The Church has no operatin8 leases.
J) Tangible fixed assets
Items of property, fixtures and equipment are capitalised if they can be used for more
than one year and cost at least £2,000. They are stated at cost le55 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 as
to write off the depreciable amount of the asset over its estimated useful life as follows..
Freehold land
Property
Fixtures & equipment
Not depreciated
50 years
20 /0 Straight line115% 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 PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE Fif4ANCIAL STATEMENTS (cont'd)
Year ended 31 December 2023
k) Debtors
Operational and other debtors are recognised at the settlement amount due.
Prepayments are valued at the amount prepaid.
11 Cash at bank and in hand
Cash at bank and in hand includes 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.
ml Creditors and provlslons
Creditors and provisions are recognised where the charity has a present obligation
resulting from a past event that will probably 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 PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (cont'd)
Year ended 31 December 2023
2. Statement of Financlal Activities: Unrestrlcted funds
Note
2023
2022
Income from:
Donations and legacies
Charitable activlties
Other tradin8 activities
Investment income
Other income sources
499,135
4,465
24,S30
1,729
877
405,079
5,745
2,270
1,444
229
Total income
530,736
414,767
Expendlture on..
Raising funds
Charitable activities
Other
2,106
420,852
14,234
4,962
399,540
8,714
io
li
Total expenditure
437,192
413,216
Net Income l(expendlturel
Transfers between funds
93,544
1,551
400
Net movernent In funds
93,544
1,951
ReconclllatSon of funds
Funds brought forward
20
389,359
387,408
Fund5 carrled forward
20
482,903
389,359
24

WELLINGTON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS {cont'd)
Year ended 31 December 2023
3. Statement of Financial Activities: Restricted funds
Note
2023
2022
Income from..
Donations and legacies
Investment income
Other income sovrces
402,476
2,144
17,507
408,734
21,173
16,481
Total Income
422, 127
446,388
Expenditure on..
Charitable activities
Other
io
li
223,822
19,075
248,904
21,603
Total expendlture
242,897
270,507
Net Income Ilexpenditure)
Transfers between funds
179,230
175,881
14001
Net movement in funds
179,230
175,481
Re¢onclliatlon of funds
Funds brought forward
20
6,014,146
5,838,665
Funds carried foiward
20
6,193,376
6,014,146
DONATIONS AND LEGACIES
Unre5trlcted
funds
Restrltted
funds
Endowment
funds
Total
2023
Total
2022
Recorded giving..
Loose collection5
Donations and gifts
Gift aid
Legacies and bequests
13,213
348,901
62,237
74,784
13,213
669,719
IZl,495
97,184
6,659
659,426
125,328
22,440
320,818
59,258
22,400
499,135
402,476
901,611
813,813
25

WELLINGTON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS Icont'd)
Year ended 31 December 2023
CHARITABLE AcfiviTIES
Unrestrlcted
Funds
Restrlcted
fund5
Endowment
funds
Total
2023
Total
2022
Fees from weddings and
funera15
Sundry income
Literature sales
2,160
1,791
1,794
2,555
1,910
2,555
1.910
4,465
4,465
5,745
6. OTHER TRADING ACTIVITIES
Unrestricted
Funds
Restrl¢ted
fund5
Endowment
funds
Total
2023
Total
2022
Letting of premises
24,530
24,530
2,270
24,530
24,530
2,270
7. INVESTMENT INCOME
Unrestrl¢ted
Funds
Restrlcted
funds
Endowment
funds
Total
2023
Total
2022
Dep051t interest
Profit on ir)vestment
disposal
1,729
2,144
3,873
2,617
20,000
1,729
2,144
3,873
22,617
8. OTHER INCOME
Unrestricted
Funds
Restricted
funds
Endowment
funds
Total
2023
Total
2022
Other income
877
17,507
18,384
16,710
877
17,507
18,384
16,710
26

WELLINGTON CONGREGATION OF THE PRESB￿ERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (cont'd
Year ended 31 December 2023
RAISING FUNDS
Unrestrlcted
Funds
Restricted
fund5
Endowment
funds
Total
2023
Total
2022
FWO envelopes
2,106
2,106
4,962
2,106
2,106
4,962
10. CHARITABLE ACTIVITIES
Unrestricted
Funds
Restricted
funds
Endowment
funds
Total
2023
Total
2022
General Assembly
Assessments
Presbytery fees
Ministry and support staff
costs
Con8regational running
expenses
Donations to missions and
charities
Personal support
Depreciation (Note 121
Governance costs
54,154
1,725
54,154
1,725
52,296
1,625
195,985
195,985
186,218
136,273
19,536
155,809
140,798
15,550
738
10,750
5,677
37,258
39,185
121,683
6,160
52,808
39,923
132,433
11,837
69,831
38,921
131,735
27,020
420,852
223,822
644,674
648,444
11. OTHER EXPENDITURE
Unre5trlcted
Funds
Restricted
funds
Endowment
funds
Total
2023
Total
2022
Loan interest
Bank charges
SundTY
Catering costs
17,858
382
835
17,858
802
3,924
10,725
21,286
648
1,734
6,649
420
3,089
10,725
14,234
19,07S
33,309
30,317
Total
2023
Total
2022
Net Income
Net income is stated after charging / Icreditin81'.
Auditor's iemuneration
3,600
3,840
27

WELLINGTON CONGREGATION OF THE PRESBrfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (cont'd)
Year ended 31 December 2023
12. TANGIBLE FIXED ASSETS
Church
bulldlng5
Flxtures &
Equlpment
Land
Manse
Total
COST
At l January 2023
Additions
Disposals
I,ioo,000
5,634,129
450,000
135,266
7.319,395
At 31 December 2023
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
1,577,562
112,683
126,000
9,000
105,378
10,750
1,808,940
132,433
At 31 December 2023
1,690.245
135,000
116,128
1,941,373
NET 800K VALUE
At 31 December 2023
I,ioo,000
3,943,884
315,000
19,138
5,378,022
At 31 Decernber 2022
i.ioo,000
4,056,567
324,000
29.889
5,510,456
13. DEBTORS
2023
2022
Gift aid recoverable
CAF vouchers
Sundry
War loan debtor
9,777
50
6,384
35,385
51,596
17.789
50
2,934
35,385
56,IS8
28

WELLINGTON CONGREGATION OF THE PRESBYtERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (cont'd)
Year ended 31 December 2023
14. INVESTMENTS
The congregation has the following investments. Amounts are shown at cost.
2023
2022
National Saving5 Income Bonds
31,468
31,468
31,468
31,468
15. CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise the followlng:
2023
2022
Cash at bank and in hand
1,826,505
1,667,709
16. CREDITORS: Amounts falling due within one year
2023
2022
Accruals and deferred income
Other creditors
Ulster bank loan
Other taxation and Social security
10,991
3,695
15,225
41,914
208,634
979
1,093
15,779
266,752
17. Inter fund debtors/ (creditors)
Inter fund debtor and creditors balances are included to represent the amounts owed between funds.
18. CREDITORS: Amounts falling due after one year
2023
2022
Sundry loans
Elsie Steele Trust loan
3,500
410,000
413,500
3,500
410,000
413,500
29

WELLINGTON CONGREGATION OF THE PRES8rfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (cont'd)
Year ended 31 December 2023
19. BANK AND OTHER BORROWINGS
On the 25, June 2015 the Ulster Bank provided the congregation of Wellington Presbyterlan Church with a
loan of £2,480,000. The loan was repaid in the year.
The loan was 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 -
year period. The loan is at a fixed rate of 4Yo and has another ei8ht years to run. The Elsie Steele Trust has a
secondary charge over the Churth premises at 28 Sourhlll Road, Ballymena. Co Antrim and associated
assets.
20. FUND BALANCES
Balance at
01101123
Surplus /
Ideflcltl
Balance at
31112123
Receipts
Payments
Transfers
Unrestrlcted funds
General fund
389,359
530,736
1437,1921
93,544
482,903
Restrlcted funds
Old property reserve
Benevolent fund
Mission fund
New building fund
Organisations, fund
24,673
131
119,036
5,836,139
34,167
24,673
131
166,334
5,965,524
36,714
122,693
269,178
30,256
175,3951
1139,7931
127,7091
47,298
129,385
2,547
6,014,146
422,127
1242,8971
179,230
6,193,376
Endowment funds
Endowments
182,034
182,034
Total funds
6,585,539
952,863
1680,0891
272,774
6,858,313
The following is a list of the restricted funds in use tO8ether with a description of their use..
The old property fund 15 used to fund capital projects and the on-going maintenance and development of
the properties owned and used by the congregation in its mission.
The new building fund was launched to fund the move to the New Premises where the Church is now
located.
The benevolent fund is used for social outreach programmes into the local community.
The mission account is used to meei our commitments to PCI and non-congregatlonal 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 2023
21. EMPLOYEES NUMBERS AND STAFF COSTS
Employment costs
2023
2022
Wages and salaries
Employer's social security
Employer's pension contribution
157,284
9,669
13,000
179,953
147,090
9,452
12,294
168,836
Number of employees:
The number of staff employed by the church on 31 December 2023 was 912022.. 91
Staff salaries are ir) line with the salary scales malntained by the Presbyterian Church in Ireland IPCII.
No employee5 received remuneration in excess of £60,000.
Penslon ¢osts
The minister of the congregation is 3 member of the Presbyterlan Church in Ireland Pension Scheme120091. This
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'5 penslon contribution for the Scheme and based on the
stipend paid to the minister. The PCI Scheme120091 is a funded scheme of the defined benefit5 type, provlding
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 trustee5 have
agreed a fundlng plan to ensure the Scheme is sufficiently funded to meet current and future obligations. A
formal schedule of contribLFtlons 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 benefils
for future service, expenses, the cost of insuring death in service benefits and funding the scheme deficit.
2023
2022
The contributions made by the congregation during the year were as follows-
Pension costs
11,674
11,118
All other slaff employed by the congregation are automatically enrolled in the SMART PENSSON scheme. This
scheme and its assets are held by an independent scheme manager. The contrSbution5 made by the
congregation to this scheme were, 2023.. £1,32612022.' £1, 1761
31

WELLINGTON CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (cont'd)
Year ended 31 December 2023
19. RELATED PARTY TRANSAcfioNS
One of the trustees, the minister of the con8re8ation, received remuneration of £48,643 and expenses of
El,458 for actin8 In that capacity. Pension contributlons of £11,674 were paid by the congregation in respect
of the minister.
Another trustee, Mr Mervyn Orr received remuneration of £5,299 as a result of his employment by the
church.
No other charity trustee, other than the minister mentioned above, received payment for professional or
other services supplied to the charity.
During the year the Congregation contributed the followlng amounts to Funds of the General Assembly of the
Presbyterian Church in Ireland. a separate charitv..
E129,896 for congregational assessments, which includes £48.643 for the minister's stipend.
E33,361 towards the United Appeal
Mr Geoffrey Marshall and Mr Mark Hood, trustees of the Church are also trustees of the Elsie Steele Trust,
charitable trust, which has made a loan of £410,000 to Wellington Presbyterian Church. This is an interest
only loan, with interest being charged at 4Yo per annum and capital repayable at the end of twenty-five
years. There are eight years to run on the loan on 31 December 2023.
32