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2023-12-31-accounts

Aghadowey Congregation of the Presbyterian Church in Ireland

Financial Statements

Year Ended 31[st] December 2023

NIC 105547

AGHADOWEY 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 77,566 104,941 182,507 185,423
Charitable activities 3 1,228 15,994 17,222 6,492
Other trading activities 4 0 4,140 4,140 560
Investment Income 5 1,247 1,292 2,539 2,030
Other Income 6 1,395 9 1,404 2,034
---------- ---------- ---------- ---------- ----------
Sub Total 81,437 126,376 0 207,813 196,539
Sale of Investments 0 0
Sale of fixed assets 0 0
Loans Received 0 0
---------- ---------- ---------- ---------- ----------
Total Receipts 81,437 126,376 0 207,813 196,539
---------- ---------- ---------- ---------- ----------
Payments
Raising funds 7 505 110 615 1,090
Charitable activities 8 72,990 32,070 105,060 112,271
Investment costs 0 22
Other Expenditure 9 300 300 600 5,099
---------- ---------- ---------- ---------- ----------
Sub Total 73,795 32,480 0 106,275 118,481
Purchase of Investments 898 100,778 101,676 2,085
Purchase of fixed assets 0 0
Loan Repayments 0 0
---------- ---------- ---------- ---------- ----------
Total Payments 74,693 133,258 0 207,951 120,566
---------- ---------- ---------- ---------- ----------
Net receipts / (payments) 6,744 (6,882) 0 (138) 75,973
Transfers between funds 0 0 0 0
---------- ---------- ---------- ---------- ----------
Net movement in funds 6,744 (6,882) 0 (138) 75,973
Funds brought forward 49,232 231,336 0 280,568 204,595
---------- --------- ---------- ---------- ----------
Funds carried forward 12 55,976 224,454 0 280,430 280,568
====== ====== ====== ====== ======

Page 1

AGHADOWEY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF ASSEfs AND LIABILITIES As at 31 December 2023 Unrestricted Restricted Endowment Funds Fund5 Funds Total 2023 Total 2022 Funds Reconciliation Bank and Cash at start of year Net movement in funds 49,232 6,744 231,336 16,882) 280,568 11381 204,595 75,973 Bank and Cash at end of year 55,976 224,454 280,430 280,568 Bank & Cash Balances Bank Accounts Cash in Hand 279,660 770 280,565 280,430 280,568 Fixed Assets- Note 10 6,183,371 5,845,820 Other Assets Investments- Note 11 Gift Aid receivable on donations 120,437 3,733 111,218 5,055 124,170 116,273 Approved by the Kirk Session at a meeting on li oi/L 014 and signed on its behalf by Name Name Date I i /0 J /li)'Llk Page 2

AGHADOWEY 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 62,462 81,930 144,392 128,784
Loose collections 0 9,360 9,360 13,076
Donations and gifts 0 2,120 2,120 472
Gift Aid 14,104 11,531 25,635 22,709
Legacies and bequest 1,000 0 1,000 20,382
---------- ---------- ---------- ---------- ----------
77,566 104,941 0 182,506 185,423
---------- ---------- ---------- ---------- ----------

Page 3

AGHADOWEY 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 1,228 1,864 3,092 1,388
Fees from weddings and funerals 0 200 200 0
Fundraising events 0 11,226 11,226 2,662
Membership fees 0 1,004 1,004 1,042
Grants 0 1,700 1,700 1,400
---------- ---------- ---------- ---------- ----------
1,228 15,994 0 17,222 6,492
---------- ---------- ---------- ---------- ----------

4. OTHER TRADING ACTIVITIES

Unrestricted
Funds		 Restricted
Funds		 Endowment
**Funds **
Total 2023		 Total
2022
£ £ £ £ £
Letting of premises 0 2,540 2,540 560
Trading income 0 1,600 1,600 0
---------- ---------- ---------- ---------- ----------
0 4,140 0 4,140 560
---------- ---------- ---------- ---------- ----------

5. INVESTMENT INCOME

Unrestricted
Funds		 Restricted
Funds		 Endowment
**Funds **
Total 2023		 Total
2022
£ £ £ £ £
Bank interest 134 1 135 182
General Investment Fund 216 512 728 741
Other investment income 897 778 1,676 1,107
---------- ---------- ---------- ---------- ----------
1,247 1,292 0 2,539 2,030
---------- ---------- ---------- ---------- ----------

Page 4

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

6. OTHER INCOME

6.OTHER INCOME
Unrestricted
Funds		 Restricted
Funds		 Endowment
**Funds **
Total 2023		 Total
2022
£ £ £ £ £
Other income 1,395 9 1,404 2,034
---------- ---------- ---------- ---------- ----------
1,395 9 0 1,404 2,034
---------- ---------- ---------- ---------- ----------
7.RAISING FUNDS
Unrestricted
Funds		 Restricted
Funds		 Endowment
**Funds **
Total 2023		 Total
2022
£ £ £ £ £
FWO envelopes 505 0 505 1,090
Fundraising events 0 110 110 0
---------- ---------- ---------- ---------- ----------
505 110 0 615 1,090
---------- ---------- ---------- ---------- ----------

8. CHARITABLE ACTIVITIES

8.CHARITABLE ACTIVITIES
Unrestricted
Funds		 Restricted
Funds		 Endowment
**Funds **
Total 2023		 Total
2022
£ £ £ £ £
General Assembly Assessments 12,318 0 12,318 10,320
Presbytery fees 415 0 415 413
Ministry and support staff costs 38,770 57 38,827 36,021
Premises Costs 13,174 0 13,174 15,664
Congregational running expenses 2,862 5,550 8,412 9,253
Repairs and Maintenance 5,152 6,899 12,050 16,212
Donations to Missions and charities 0 19,564 19,564 24,088
Governance costs 300 0 300 300
---------- ---------- ---------- ---------- ----------
72,990 32,070 0 105,060 112,271
---------- ---------- ---------- ---------- ----------

Page 5

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

9. OTHER EXPENDITURE

Unrestricted Restricted
Endowmen		 Total Total
Funds Funds t Funds 2023 2022
£ £ £ £ £
Cahir & Fermoy 0 0 0 4,901
Other Expenditure 300 300 600 198
---------- ---------- ---------- ---------- ----------
300 300 0 600 5,099
---------- ---------- ---------- ---------- ----------

10. FIXED ASSETS

The congregation owns the Church premises situated at 50 Ardreagh Road,Aghadowey Coleraine, the Church Manse and the associated fixtures, fittings, plant and machinery.

These have an insurance value of £ These have an insurance value of £
Church Building 3,091,686
Church Hall 618,338
Youth Hall 1,674,662
Minor Hall 283,404
Church Manse 515,281
6,183,371

11. INVESTMENTS

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

2,023 2,022
Endowment Funds £ £
General Investment Fund 33,997 31,175
Other investments 48,751 45,160
---------- ----------
82,748 76,335
---------- ----------
Other Investments
General Investment Fund 3,305 3,031
Other investments 34,384 31,852
---------- ----------
37,689 34,883
---------- ----------
Fund Summary of Investments
General Fund 55,588 51,391
Mission Fund 33,618 31,118
Sunday School 12,786 11,795
Outreach 2,639 2,420
Property 12,874 11,805
Minister 2,932 2,689
---------- ----------
120,437 111,218
---------- ----------

Page 6

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

12. FUND BALANCES

Fund Balance at
start		 Receipts Payment Surplus /
(Deficit)		 Transfer Balance at
end
£ £ £ £ £ £
Unrestricted Funds
General Fund 49,232 81,437 74,693 6,744 55,976
---------- ---------- ---------- ---------- ---------- ----------
49,232 81,437 74,693 6,744 0 55,976
---------- ---------- ---------- ---------- ---------- ----------
Restricted Funds
Property / Building Fund 174,173 90,109 106,964 (16,855) 1,200 158,518
United Appeal 1,000 8,316 9,004 (688) 312
General Missions 30,745 2,970 1,799 1,171 31,916
Outreach 13,444 2,542 43 2,499 15,943
World Development Appeal 0 2,221 1,845 376 376
Belfast City Mission 180 1,571 1,405 166 346
Turkey/Syria Earthquake Appeal 0 716 716 0 0
Moderator's Appeal 237 0 0 0 237
Earl Haig 0 149 149 0 0
Presbyterian Children's Society 0 962 962 0 0
Samaritan's Purse 605 735 1,340 (605) 0
Cancer Centre for Sick Children 0 600 600 0 0
Hope for Youth Ministries 0 470 470 0 0
CCGBC Coronation Grant 0 300 300 0 0
Minister 0 57 57 0 0
Sunday School 4,776 1,343 1,139 204 4,980
Cahir & Fermoy 0 0 0 0 500 500
PW 2,945 8,598 2,823 5,775 (1,700) 7,020
Ignite Youth Fellowship 532 0 0 0 532
Youth Club 1,282 689 844 (155) 1,127
Mums and Tots 130 1,227 460 767 897
Boys' Brigade 1,287 2,798 2,335 463 1,750
---------- ---------- ---------- ---------- ---------- ----------
231,336 126,373 133,255 (6,882) 0 224,454
---------- ---------- ---------- ---------- ---------- ----------
TOTAL CASH FUNDS 280,568 207,810 207,948 (138) 0 280,430
======= ======= ======= ======= ======= =======

Page 7

Independent examiner’s report to the trustees of Aghadowey 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

14 March 2024