an Terrace Row Presbyterian Church (a congregation of the Presbyterian Church in Ireland) Charity Accounts (for the year ended 31 December 2023) Registered with the Charity Commission for Northern Ireland Registration Number NIC105552 an STATEMENT OF FINANCIAL ACTMTY (for the year ended 31 December 2023) Income and Endowmerts from: Donatlons and lega¢ies Charilable aclpiitres Other tradlng acliifjbes Irwestments 155,339 $4,614 5,414 209,953 5,414 25,329 6.530 12,783 200.514 7,256 37,183 2.348 15,034 25,329 4,377 3.250 2,153 9,533 Total 188295 71.714 280,009 262,335 ExpenditLre on: Raising furK16 Chafitabk •clriitle8 Other 819 177.001 1.142 52,1CK8 28.931 1.961 229,107 28.931 765 238,945 27.660 T¢)tal 177,820 82,179 259,999 267.370 Net In¢omfjl(Expenditwe) 10.475 -10,465 10 4,035 Net gahxl(losse8) M Thestments 5.170 5,170 4,674 4.383 4.383 Gainsl(losses) M revak*li of fixed assets Net movement kn fiNKI8 11282 4.082 5.180 4,709 ReCowla￿On Off￿d$.. Totsl fiNKls brought lorward 272.573 350,375 622,948 631,657 Tol•l fvnds canied fopward 283 835 628,128 IIPaEe Terrace Row Presbyterian Church l•rorw8atkniof plesb￿ UNrth h ketsndl Presbyter an BALANCE SHEEr As at 31 De￿rnber 2023 Flxed assets: Tangible assets Heritage assets Investments 12 164,224 164,224 180.441 13 70,555 70,555 46.610 Total flxed assets 70,555 164,224 234,779 227,051 Current assets Debtors Current Investments Cash at bank and in hand 14 14.800 14,800 16,550 198,480 180,069 378,549 379,347 Tolal current assets 213,280 180,069 393,349 39S.897 Uablllties: Credltors.. Amounts falllng due within one year 16 Net current assets or Ilabilitie$ 213,280 180,069 393.349 395,897 Total assets less current Ilabilltles Creditors: Amounts falling due after more than one year 283,835 344.293 628,128 622,948 17 Total net assets or liabllltles 283 835 344.293 628.128 0.00 21 Page Terrace Row Presbyterlan Church 14 rongrezatk>n of the Presbyterian Chur¢hir> keLindl Presbyter an As at 31 De¢ember 2023 Fund$ of the charlty Endowment funds Restricted funds Unrestricted funds 18 18 18 344.293 344.293 283,835 350,375 272,573 283,835 Total charfty fvnds 628 128 Approved by the Klrk Session at a meeting on 12 March 2024 and 51gned on its behalf by q, Davld Brownlee Clerk of ksslon Tom Moore Church Treasurer 31Page Terrace Row Presbyterfan Churth l•conyegat￿jn otthe ￿e5bY1￿b￿ Churcbknkn￿r an ACCOUNTINQ POUCIES BASIS OF FINANaAL STATEMENTS The flnanclal statements have been prepared In accordance wlth Accountin8 and ReportlnE by Charltles: ststement of Recommended Practlce applScable to charitles preparing their accounts In accordance wlth Flnancial Reporting Standard applicable in the UK and Ireland IFRS102) {effectlve l January 2015}. The financral statements have been prepared under the hlstorlcal cost convention except for Investment assets, which are shown at market value. The financial statements include all tran5artions. a55ets and liabilitles for whlch the congregation is responsible in law. They do not include the accounts of church groups that owe thelr affillatiOD to another body* nor th05e that are informal 83therin85 of church members. FUND ACCOUNTING Endowment funds are fund5, the capitsl of which must be retalned either permanently or at the congregation's dlscretion; the income derived from the endowment is to be used elther as restricted or unre5trirted income funds depending upon the purpose for whSch the endowment was established in the first place. Restrlcted fund5 comprise la} income from endowments which Is to be expended only on the restricted purposes intended by the donor and (bl revenue donations or grants for 3 speclfic con8re8atlonal aLtlvity Intended by the donor. Uwestrkted funds are rmrne funds vthch are lo be spent on the congregauon's general pwpo￿. De*￿ted I￿)d8 ore general funds Yet aside by the Co￿egatIon for ￿e ￿ the fuuwe. 41Page Teriace Row Pfesbyterlan Churth l•corweytion of the Pfe5byteri&n (Jwrchin Irel*l Presbyter an ACCOUNTING pouaESfconVd} INCOMING RESOURCES Recognltlon of Incomlng resources These are included In the Statement of Flnanclal Actlvities (SOFA) when: • the congregatlon become5 entitled to the resouros. the trustees are vlrtually certaln they wlll reolve the resources: and the rnonetsry value can be measured with sufficlent rellably. (11) Incomlng resources wfth related expendtture Where Incomlng resources have related expendlture (as with fundrai51ng income) the Incomln8 re50urces and related expendlture are reported gross In the SOFA. (111) Grants and donatlons Grants and donatk>ns are only Included in the SOFA when the con8regatlon has unconditional entltlement to the resour¢es. (Iv) Tax redaims on donatlons and glfts Incoming resources from tsx reclalms are Included In the SOFA at the same time as the 81ft to which they relate. (v) Contrartual Income and performance related giants This Is only Included in the SOFA once the related £oods or services have been dellvefed. (vl) Glfts In klnd Gifts In kind are accounted for at a reasonable estlmate of thelr value to the charity or the amount actually realised. Gifts in kind for use by the charlty are included in the SOFA as Incomin8 resources when recetvable. (vll) Donated services and facllltles These are On￿ Included in Incoming resources (with an equivalent amount In resources expended) where the benefit to the charity is reasonably quantlfiable, measurable and materlal. The value pla￿d on these resources is the e5tlmated value to the charity of the servlce or faclllty received. Ivlll) Volunteer help The value of any v¢kwrtary help receP￿d Is not Al￿ded kn Ihe acco￿ts but Tr5 deb¢n￿ed kn the trustees, aMU81 report. 51Page Terrace Row Pyesbyterian Church larw8reytk>n olfv ple5b￿{v￿ch￿VCh in *ekndl Presbyter an Investment Income This Is Included In the accounts when recelvable. (ID Investment galns and losses This Includes any gain or10ss on the sale of investments and any gain or loss resultlng from revaluln8 investments to market value at the end of the year. EXPENDITURE AND UABIUTIES (111) Uablllty recognltlon Lkbilitles are recognised a5 soon as there Is a legal or ¢onstruct5ve obll8atlon committin8 the congregatlon to pay out reSoUr￿s. (Iv) Governance costs These are shown wlthln charitable actlvities and include the costs of preparation and examinatlon of accounts. the costs of trustee meetings arml ¢05t of any legal advlce to trustees on governance or constltutional matters. Iv) Grants with perforn?ance condttlons Where the charity gtves è grant with condltlon5 for its payment being a specific level of service or output to be provided, such grants are only recognEsed in the SOFA once the reciplent of the grant has provided the specifled service or output. Ivl) Grants payable wlthout performano condltlons These are only re¢ognised In the accounts when a commltment has been made and there are no condEtIons to be met relating to the grant whlch remaln In the control of the charity. (vll) Support costs Support costs include central funrtions and have been allocated to activity cost otegorles on a basls consistent with the use of resources, e.g. allocatSng property costs by floor areas. or per caplta. 5tsff costs by the time Spent and other costs by their usage. 61 Page Terrace Row Presbyterian Church 1acowrvpth￿oI thE PrtsbyterSAnthurthin*E￿￿&} an SEf5 (l) Tanglble Flxed Assets TanBible fixed assets for use by charity are capStallsed if they can be used for more than one year, and cost at least £25(Kl. They are valued at COSt or. rf gifted, at the value to the charity on receipL Depreciation is recorded on all tsngible fwed assets other than freehold land. at rates czlculated to write of the cost. less estimated resldual value, of each asset over Its experted useful lrfe, on a straight line basis, as follows Buildin85: Fixtures, fittlngs and equlpment Motor Vehicles Q)mputers. software and technkal equipment over 50 years - ¢)ver 10 years - over4 years - over4 yeaf5 - over 50yea - over4 year5 (In Investments Investments quoted on a recognised stock exchan8e are valued at market value at the year end. other investment assets are included at trustees, best estimate of rnarket value. 71 Page Telrace Row Presbyterian Church li congie8aibjno1￿ Presby￿rrdlI£h￿thkn IT￿￿nd} Presbyter an DONATIONS AND LEGAOES Recorded givlng Loose collections Oonatlons and glfts GiftAld Legacies and bequest 126,861 2,140 42.278 169,139 2.140 3,583 34,091 1,000 165.827 2,777 918 30,942 50 3.S83 8.753 25,338 155 339 200 514 CHARrrABLE AcllviTIES Income frorn charitsble activities Fees from weddln8s and funera15 Membershlp fee5 Fundralsing events 1,792 3,622 1,792 3,622 1,961 5,295 81 Page Terrace Row Presbyterlan Church (acorrfre￿tk)n ofthe Presbyte1￿ti church￿ be￿nd) an OThER TRADING AcrivmES Property Rental Tradlng Income 24.000 1,329 24,000 1,329 36,000 1,183 25.329 INVEsfMEKrs Deposlt Interest General Investment Fund Other Investment Income 3,289 1.088 2.153 5,442 1.545 803 91 Page Terrace Row Presbyterian Church l*ttsnBregal17nofthePresb￿tt￿thu1th• trekndl Presbyter an OThER INCOME Insurance clalms Other income Grants 3.250 3.561 5.972 6,811 5,972 12.783 6,370 15.034 RAISING FUNDS FWO envelopes Fundraising Èvents 819 819 1142 765 1,142 819 765 10 I Page Terrace RMY Piesbyterlan Church latOnye84t￿nDIthe Pres￿er￿7￿ChurChkn kekndl Presbyter an CHARITABLE ACTIVITIES General Assembly Asse55rnents Presbytery fees Mlnistry and support stsff costs Other runnlng expenses Donations to Mi55ions and charities Governance costs 15,957 15.957 14,993 1,090 1020 106,654 106,654 105.419 49.130 19.685 68.815 76.868 3,300 32,421 35.721 39.806 870 870 828 229 107 MER EXPENDITURE Depreclation Investment properties expenses 28.931 28,931 27.660 11 I Page Terrace Row Presbytefian Church la Lowie8•t￿noI$he Presbytfrian Chw£hin I[e￿nd} Presbyter an EMPLOYEES Employment Costs Wage5 and Salaries Social Security Costs Pension contrlbutlons 89,371 6.063 11.220 5,949 10,803 106 654 105 419 Number of Employees The avera8e number of employees, including the minister of the congregation, durln8 the year was: Average number of ernployees Therè were M employees in recelpt of employee benefits in excess of £60.000. 121 Page Terrace Row Presbylerlan Chuich latonye8aYMolthe p￿￿er￿n kn hlandl Presbyter an PENSION C05rs The mlnister of the con8regatlon is a member of the Presbyterian Church in Ireland Pension Scheme12009). Thls Is a scheme operated by the Presbytertan Church Sn Ireland. a separate reglstered charity. The congregatlon pays an 455essment to the Presbyterlan Church In Ireland equivalent to the employerfs pension ontributlon for the Scheme and based on the stipend paid to the minlster. The PresbyterSan Church in Ireland Pension Scheme12009) is a funded Scheme of the defined benefit type, providin8 defined beneflts based on career average revalued salary. The Scheme has assets held In a separately administered fund managed by a board of trustees. The Presbyterian church arKJ the Scheme Trustees have agreed a fundlng plan to ensure the Scheme is sufflclently funded to meet current and future obligatlons. A formal schedule of contributions was drawn up on 25 November 2015 whereby the Presbyterlan Church agreed to pay from 31 De￿mber 2015 contributions of 24% of penslonable salarles to cover the accrual of benefits for future servlce, expenses, the cost of Insurlng death in serv[￿ beneflts and funding the scheme deflcit. The contributlons rnade by the congregation during the year were Contributio 10,615 10,109 Other employees are, where approprlate. enrolled In an Automatlc Enrolment Scheme operated by NEST Contributions 605 131 Page Terrace Row Presbyterlan Church I￿¢￿ellI￿0t￿e Pre$b￿l￿n￿urthth￿¢￿f an TANGIBLE FIXED ASSErs Cost or valuatlon At start of year Additlons Disp05als 386.350 394,581 12,714 780,931 12,714 At end of year 386.350 407,295 793.645 Depreclatlon At start of year Provlslon for year DIsp05a15 276,730 6,080 323,760 22,851 600,490 28,931 At end of year 282.810 629,421 Net Book Value At start of year 109.620 70,821 180.441 At end of year 141 Page Terrace Row Presbyterian Church 14 ¢onEregat(onof PresbYtuknChur(h￿1re1¥Trd) Presbyter an INVESTMENrs 2023 70,555 2022 46,610 General Investment Fund Investment Properties [Type of Investment] Value at start of year Additions Disposals Impalrment Galns / {Los5es) on revaluatlon 46.610 18,775 34580 15.704 5,170 -3.674 Value at end of year 46.610 DEBTORS 2023 2022 11,050 5,500 Glft Ald Recoverable Insurance Prepaid Other prepayments 15. CASH AT BANK AND IN HAND 2023 114.799 153,376 85,0(K) 25.374 2022 268.333 Danske current accounts Flagstone Deposlts Hampshire Trust Bank Organisation Accounts 85,000 26,014 378,549 151 Page Terrace Row Presbyteilan Church aEtsryEptk)htsf the Pr¢sb￿er￿ChUlCh1n lTe￿nd3 Presbyter an 16 CREDITORS: amount falllng due wlthln one year 2023 2022 Rent Re￿iVed In Advan Sundry Accruals 17 CREDITORS: amount falllnz due after more than one year 2023 2022 161 Page Terrace Row Presbyterlan Churth lacon4re￿￿￿QIthepresb￿￿￿ChVrthkn Irekndl Presbyter an FUND BALANW AND RECONCIUATION OF FUNDS Balance at start Galnsl L055es Balance at end Fund Income Expend. Transfer Unrestrlrted Funds General Fund 272,573 188,295 177.820 5.170 4,383 283,835 272,573 188.295 177,820 5.170 4,383 283,835 Restrfcted Funds Property Fund 308,193 33,762 2420 301,849 United Missionary appeal Sunday School Benevolent Fund Church Organisations Speclal Collectlons Other Funds 1,749 873 5.203 30,225 21,124 972 556 13,230 3,606 7,228 20,0(M) 2,430 405 19.107 3.606 2,869 2,873 1.043 5,354 24,683 1,628 335 4,132 8.491 350.375 71.714 82,179 4,383 344,293 19 OThER BALANCES AND RECONauATIONS Endowment Funds Totsl 171 Page Terra￿ Row Presbyterlan Church l•consre8otsnolthe Pre$b￿Fi￿nO￿Ith kn ketandl Presbyter an 20 RELATED PASITY TRANSACTIONS Two of the Trustees, the mlnlster of the congregatlon and the Youth & Family V￿rker received remuneration of £70,025 and expenses of £7,527 for acting In their capacity. Pension contributlons were £11,220. None of the other trustee5 received any rernuneratiQD. During the year the congregation contr1tr￿ted the followlng amounts to Funds of the General Assembty of the Presbytertan Church In Ireland a separate charlty £15,957 for congregatlonal assessments £20,000 towards the United Appeal £2,564 toward pa World Dev Appeal The congregatlon contrlbuted £1,090 towards Presbytery during the year There were no other related party tran5artions. 181 Page Terrace Row Presbyterian Church la tDwreggtthofthÈ p￿$b>*I￿n￿￿rch kn Iretsndl