Draft Flnancial Statements at 13 March 2023 at 14:39:27 BALLYWILLAN PRESBYTERIAN CHURCH STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022 Unrestricted Restrlcted funds funds 2022 2022 Total Unrestricted funds 2021 Restricted funds 2021 Total 2022 2021 Notes Income from: Donations and legacies Investments 192.235 1,162 127.399 426 319.634 1,588 190.250 1.174 115,051 439 305.301 1.613 Total Income 193,397 127,826 321,222 191,424 115,490 306.914 Ex endlture on: Charitsble activities 211,462 164.728 376,190 (202,3931 1106,33n 308.730 Net outgolng resources before transfers (18,065) 136,9031 (54,968) (10,969} 9,153 (1,816) Gross transfers between fvnds 3,256 13,256) 1,911 (1,911) Net expenditure for the yoarl Net movement in funds 114.809) (40,159) (54,968) {9,058) 7,242 (1,8161 Fund balances at 1 January 2022 5,594,887 372,514 5.967,401 5,603,945 365,272 5,969,217 Fund balances at 31 December 2022 5,580,078 332,355 5.912.433 5,594.887 372,514 5,967,401 The statement of financial aclivities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 11
Draft Financlal Statements at 13 March 2023 at 14:39:27 BALLYWILLAN PRESBYfERIAN CHURCH BALANCE SHEEr AS AT 31 DECEMBER 2022 2022 2021 Notes Fixed assets Tangible assets Current assets Cash at bank and in hand 6.258.872 5.282,016 653,715 685,539 Creditors." amounts falling due within one year io (154) (154) Net current 8sset3 853.561 885.385 Total assets less current liabilities 5,912.433 5.967.401 Income funds Restrictsd fvnds Unrestrictsd funds 331355 5,580.078 372.514 5,594,887 5,912.433 5.967.401 The financial statements were approved by the Trustees on .......... . Christine Dunlop Trustse Liz McAuley Trusteè 12-
Draft Financial Statements at 13 March 2023 at 14:39:27 BALLYWILLAN PRESBYTERIAN CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policies Charity infomation Ballywillan Presbyterian Church is an unincorporated entity governed by a Constitution. 1.1 Accounting convention The financial slatements have been prepared in accordance with the church's Igoverning documenll. the Charities Act 2011 , FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (°FRS 102,1 and the Charities SORP "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 IFRS 102)" (effective 1 January 2019). The church is a Public Benefft Entity as defined by FRS 102. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practi¢e for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which 15 referred to In the Regulations but which has since been withdrawn. The financial statements are prepared in sterling. whith is the functional currency of the church. Monetary amounts In these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, Imodlfied to include the revaluation of freehold properties and to include inveslment properties and certain financial instruments at fair valuel. The prlncipal accounting polici&s adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the TTUStees have a reasonable expectation that the church has adequate resources to continue in operational existence for the foreseeable future. Thus the Twstees continue to gdopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectiv&s. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donor5 that the capital must be maintsined by the church. 1.4 Income Income is recognised when the church is legally entitled to it afier any perft)miance conditions have been met. the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donation5 are recognised once the church has been notified of the donation, unless perfonnance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the lime of the donation. Legacies are recognised on receipt or othenNise if the churth has been notified of an impending distrtbution, the amount is known, and receipt is expected. If the amount is not known. the legacy is treated as a contingent asset. 13-
Draft Flnancial Statements at 13 March 2023 at 14."39".27 BALLYWILLAN PRESBYTERIAN CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlng policles Icontlnuedl 1.5 Expenditure These accounts for the year ended 31 Dernber 2022 for the Ballywillan Presbyterian Church are prepared in accordance with FRS 102, The Financial Reporting Stsndard applicable in the UK and Republic of Ireland. 1.6 Tanglble fixed assots Tangible fixed assets are initialty measured at cost and subsequently measured at cost or valuation. net of depreciation and any impairment105ses. Depreciation is recognised so as to write off the cost or valuation of asset5 less their residual values over their useful lives on the following bases.. Freehold land and buildings Fixiures and fittings 0% 4% Reducing balance The gain or loss arislng on the disposal of an asset is determined as the difference between the sale procèeds and the carying value of the asset, and is recognised in the ststement of financlal activities. 1.7 Impalrment of flxed assets At each reporting end dale, the church reviews the carying amounts of its tangible assets to detemilne whether there is any indicatlon that those assets have suffered an impairment 105s. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowlngs in current liabilities. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price induding transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the fijture receipts discounted at a market rate of interest. Financial assets dassified as receivable within one year are not amortised. Basic financlal liabilities Basic financial liabilitles, including credltors and bank loans are initially recognised at transaction pri unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabllltles classified as payable within one year are not amortised. Debt instruments are subsequentPy carried at amortlsed Cost. using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary coijrse of operations from suppllers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trad& creditors are recognised initially at transaction price and subsequently measured at amortised cost uslng the effective interest method. Derecognition of flnancial liabilities Financial liabilities are derecognised when the church's contractual obligations expire or are discharged or cancelled. 14-
Draft Financial Statements at 13 March 2023 at 14:39:27 BALLYWILLAN PRESBYTERIAN CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting pollcles Icontinued 1.9 Employee benefits The cost of any unused holiday entitlefflent is recognised in the perlod in which the employee's seNices are received. Temiination benefits are recognised immediately as an expense when the church is demonstrably committed to temiinate the employment of an employee or to provide temination benefits. Crltical accounting estlmates and judgements In the application of the church's accounting policies. the Trustees are required to make judgement5, estimates and assumptions about the carying amount of assets and liabilities th3t are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revision5 to accounting estimates are recognised in the perlod in which the estimate is revised where the revlsion affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Donations and legaclos Unrestricted Restrlctsd funds funds Total Total 2022 2022 2022 2021 Donations and gifts Other 190,061 2,174 112,362 15,037 302,423 17,211 296,725 8,576 192,235 127,399 319,634 305,301 For the yoar ended 31 December 2021 190,250 115,051 305,301 Investments Unrestrictsd Restricted funds funds Totsl Unrestricted Restrlcted funds funds Total 2022 2022 2022 2021 2021 2021 Interest receivable 1,162 426 1,588 1,174 439 1,613 15-
Draft Financial Statements at 13 March 2023 at 14:39:27 BALLYWILLAN PRESBYTERIAN CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Charltable aclivities 2022 2021 Staff costs Depreciation and impairment Cleaning and Catering Missions and other 116,019 23,145 523 163,101 112,536 24,380 297 127,063 r li Repairs and maintenance Insurance Heat and light Admin costs Stationery and printing Financial charges Education and books General expenses 29,578 8,100 13,084 4,41S 669 201 176 19,179 15,133 7.362 9,921 4,083 154 7,687 376,190 308,730 376,190 308,730 Analysls by fund Unrestrlcted fijnds Restricted funds 211.462 164.728 202,393 106,337 376,190 308.730 For the year ended 31 December 2021 Unrestricted funds Restricted funds 202.393 106.337 308,730 Trustees None of the Trustees (or any persons connected wlth them) received any remuneration or benefits from the church during the year for their role as a Trustee. Employees The average monthty number of employees during the year was= 2022 Number 2021 Number 16-
Draft Flnancial Statements at 13 March 2023 at 14:39:27 BALLYWILLAN PRESBYTERIAN CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Employees (Continued) Employment costs 2022 2021 Wages and salaries 116,019 112.536 No employee received remuneration in excess of £60,000. There were no employees whose annual remuneration was more than £60,000. Tanglble fixed assets Froehold land Fixtures and and bulldings ffttlngs Totsl Cost At 1 January 2022 4,761,903 639,338 5,401,241 At 31 December 2022 4,781,903 639,338 5,401,241 Dapreciation and Impairnient At 1 January 2022 Depreciation charged in the year 119,224 23,145 119,224 23,145 At 31 December 2022 142,369 142,369 Carrying amount At 31 December 2022 4,761,903 496.969 5,258,872 At 31 December 2021 4.761,903 520,113 5,282.016 Loans and overdrafts 2022 2021 Credit card 154 154 Payable within one year 154 154 17-
Draft Financial Statements at 13 March 2023 at 14:39:27 BALLYWILLAN PRESBYTERIAN CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 10 Credltors: amounts falling due within one year 2022 2021 Notes Bank overdrafts 1S4 154 11 Analysis of net asset5 between funds Unrestricted Restricted Total Unrestricted Restricted Total 2022 2022 2022 2021 2021 2021 Fund balances at 31 December 2022 are repsented by.. Tangible assets Current assetsl(liabilitiesl 5,258,872 321,206 5,258,872 653,561 5,282,016 312,871 5.282,016 685,385 332.355 372,514 5.580,078 332,355 5,912.433 5,594.887 372,514 5,967,401 12 Related party transactions A manse and related expenses have been provided for the Minister. 18-