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2023-12-31-accounts

Hazelbank Congregation of the Presbyterian Church in Ireland

Financial Statements

Year Ended 31[st] December 2023

NIC 105540

HAZELBANK CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the year ended 31 December 2023

Note Unrestricted
Funds		 Restricted
Funds		 Endowment
Funds		 Total 2023 Total
2022
£ £ £ £ £
Receipts
Donations and legacies 2 103,425 57,279 160,705 155,137
Charitable activities 3 370 3,534 3,904 3,642
Investment Income 4 1,456 91 1,547 7
Other Income 5 700 0 700 250
---------- ---------- ---------- ---------- ----------
Sub Total 105,951 60,904 0 166,855 159,036
Sale of Investments 0
Sale of fixed assets 0
Loans Received 0
---------- ---------- ---------- ---------- ----------
Total Receipts 105,951 60,904 0 166,855 159,036
---------- ---------- ---------- ---------- ----------
Payments
Raising funds 6 485 51 536 518
Charitable activities 7 101,764 42,305 144,069 146,688
Investment costs 0
Other Expenditure 8 0 0 0 557
---------- ---------- ---------- ---------- ----------
Sub Total 102,249 42,356 0 144,605 147,763
Purchase of Investments 0
Purchase of fixed assets 0 12,544
Loan Repayments 0
---------- ---------- ---------- ---------- ----------
Total Payments 102,249 42,356 0 144,605 160,307
---------- ---------- ---------- ---------- ----------
Net receipts / (payments) 3,702 18,548 0 22,250 (1,271)
Transfers between funds 550 (550) 0 0
---------- ---------- ---------- ---------- ----------
Net movement in funds 4,252 17,998 0 22,250 (1,271)
Funds brought forward 119,513 98,638 0 218,151 219,422
---------- --------- ---------- ---------- ----------
Funds carried forward 11 123,765 116,636 0 240,401 218,151
====== ====== ====== ====== ======

Page 1

HAZELBANK CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF ASSEfs AND UABIUTIES As at 31 December 2023 Fun(ts Funds Total 2023 Totsl 2022 Funds Reconciliation Bank and Cash at start of year Net movement in funds 119.513 4,252 98.638 17.998 218,151 22,250 219,423 11,272) Bank and Cash at end of year 123.765 116.636 240,401 218,151 Bank & Cash Balances Bank Accounts Cash in Hand 240,364 37 218,048 103 240,401 218,151 Flxed Assets - Note 9 3,856,507 3.587,449 Other Assets Investments- Note 10 Gift Aid receivable on donations 3,172 25,365 3,134 25,917 28,537 29,051 Approved by the Kirk Session at a meeting on 121¢712 Name Name and signed on its behalf by Date I i16>21o Date Page 2

HAZELBANK CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2023

1. ACCOUNTING POLICIES

BASIS OF FINANCIAL STATEMENTS

As the total income of the congregation is less than £250,000 the congregation have elected to prepare its accounts on a receipts and payments basis, in accordance with the provisions in The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015.

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.

2. DONATIONS AND LEGACIES

Unrestricted
Funds		 Restricted
Funds		 Endowment
Funds		 Total 2023 Total
2022
£ £ £ £ £
Recorded giving 81,315 34,528 115,844 117,714
Loose collections 1,363 10,343 11,705 9,955
Donations and gifts 930 5,551 6,481 1,736
Gift Aid 19,818 6,857 26,675 25,732
---------- ---------- ---------- ---------- ----------
103,425 57,279 0 160,705 155,137
---------- ---------- ---------- ---------- ----------

Page 3

HAZELBANK CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2023

3. CHARITABLE ACTIVITIES

3.CHARITABLE ACTIVITIES
Unrestricted
Funds		 Restricted
Funds		 Endowment
**Funds **
Total 2023		 Total
2022
£ £ £ £ £
Income from charitable activities 370 1,182 1,552 1,532
Membership fees 0 1,152 1,152 610
Grants 0 1,200 1,200 1,500
---------- ---------- ---------- ---------- ----------
370 3,534 0 3,904 3,642
---------- ---------- ---------- ---------- ----------

4. INVESTMENT INCOME

Unrestricted
Funds		 Restricted
Funds		 Endowment
**Funds **
Total 2023		 Total
2022
£ £ £ £ £
Bank interest 1,456 91 1,547 7
---------- ---------- ---------- ---------- ----------
1,456 91 0 1,547 7
---------- ---------- ---------- ---------- ----------

5. OTHER INCOME

Other income

Unrestricted
Funds		 Restricted
Funds		 Endowment
**Funds **
Total 2023		 Total
2022
£ £ £ £ £
700 0 700 250
---------- ---------- ---------- ---------- ----------
700 0 0 700 250
---------- ---------- ---------- ---------- ----------

Page 4

HAZELBANK CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d) 31 December 2023

6. RAISING FUNDS

6.RAISING FUNDS
Unrestricted
Funds		 Restricted
Funds		 Endowment
**Funds **
Total 2023		 Total
2022
£ £ £ £ £
FWO envelopes 485 0 485
Fundraising events 0 51 51 518
---------- ---------- ---------- ---------- ----------
485 51 0 536 518
---------- ---------- ---------- ---------- ----------
7.CHARITABLE ACTIVITIES
7.CHARITABLE ACTIVITIES
Unrestricted
Funds		 Restricted
Funds		 Endowment
**Funds **
Total 2023		 Total
2022
£ £ £ £ £
General Assembly Assessments 18,733 0 18,733 18,897
Presbytery fees 614 0 614 606
Ministry and support staff costs 62,869 0 62,869 59,888
Premises Costs 15,347 0 15,347 12,415
Congregational running expenses 3,881 7,626 11,507 9,223
Repairs and Maintenance 0 7,507 7,507 12,655
Donations to Missions and charities 0 27,172 27,172 32,804
Governance costs 320 0 320 200
---------- ---------- ---------- ---------- ----------
101,764 42,305 0 144,069 146,688
---------- ---------- ---------- ---------- ----------

Page 5

HAZELBANK CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d) 31 December 2023

8. OTHER EXPENDITURE

Unrestricte Restricted Endowmen Total Total
d Funds Funds t Funds 2023 2022
£ £ £ £ £
Other Expenditure 0 0 0 557
---------- ---------- ---------- ---------- ----------
0 0 0 0 557
---------- ---------- ---------- ---------- ----------

9. FIXED ASSETS

The congregation owns the Church premises situated at Hazelbank Road, Coleraine and the associated fixtures, fittings, plant and machinery.

The congregation also owns the Church Manse

These have an insurance value of

£ £
Church Premises including fixtures and fittings 3,356,259 3,122,102
Church Manse 500,248 465,347
------------ ------------
3,856,507 3,587,449
------------ ------------

10. INVESTMENTS

The congregation has the following investments. Amounts are shown at market valuation.

2,023 2,022
Endowment Funds £ £
General Investment Fund
Bequest Account 3,172 3,134
---------- ----------
TOTAL INVESTMENTS 3,172 3,134
---------- ----------

Page 6

HAZELBANK CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d) 31 December 2023

11. FUND BALANCES

Fund Balance at
start		 Receipts Payment Surplus /
(Deficit)		 Transfer Balance at
end
£ £ £ £ £ £
Unrestricted Funds
General Fund 119,513 105,951 102,249 3,702 550 123,765
---------- ---------- ---------- ---------- ---------- ----------
119,513 105,951 102,249 3,702 550 123,765
---------- ---------- ---------- ---------- ---------- ----------
Restricted Funds
Building Fund 44,529 18,711 7,306 11,405 55,934
Ministry Extension Fund 44,045 7,401 3,462 3,939 (3,425) 44,559
United Appeal 0 8,839 8,839 0 0
World Development Appeal 0 3,728 3,728 0 0
Zomba 856 7,199 0 7,199 8,055
Moderators Appeal 0 646 646 0 0
Digging Deeper 0 200 200 0 0
EMF Denmark 0 400 400 0 0
Foodbank 0 260 260 0 0
Stand by Me 0 379 379 0 0
Tearfund 0 893 893 0 0
Zomba Trip 0 4,961 7,986 (3,025) 3,025 0
Bowling Club 495 631 381 250 (350) 395
Fit 4 118 0 0 0 118
Girls' Brigade 3,434 3,541 3,718 (177) (200) 3,057
Mums and Toddlers 381 84 117 (33) 348
Presbyterian Women 3,591 2,471 2,721 (250) (100) 3,241
Sunday School 1,189 560 1,320 (760) 500 929
0 0
---------- ---------- ---------- ---------- ---------- ----------
98,638 60,904 42,356 18,548 (550) 116,636
---------- ---------- ---------- ---------- ---------- ----------
TOTAL CASH FUNDS 218,151 166,855 144,605 22,250 0 240,401
======= ======= ======= ======= ======= =======

Page 7

Independent examiner’s report to the trustees of Hazelbank Congregation of The Presbyterian Church in Ireland

I report on the accounts of the Charity for the year ended 31 December 2023, which are set out on pages 1 to 7.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland) 2008. The charity’s trustees consider that an audit is not required for this year under section 65(2) of the Charities Act (Northern Ireland) 2008 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission for Northern 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 trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

have not been met or

Olive K Wallace ACMA, CGMA OK Wallace Accountancy and Bookkeeping 101 Coolyvenny Road Coleraine BT51 3SF

18 March 2024