Ringsend Congregation of the Presbyterian Church in Ireland
Financial Statements
Year Ended 31[st] December 2022
NIC 105573
RINGSEND CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the year ended 31 December 2022
| Note | Unrestricted Funds |
Restricted Funds |
Endowment Funds |
Total 2022 | Total 2021 |
||
|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |||
| Receipts | |||||||
| Donations and legacies | 2 | 34,506 | 9,519 | 44,025 | 44,617 | ||
| Charitable activities | 3 | 5 | 0 | 5 | 12,031 | ||
| Other trading activities | 4 | 9,676 | 0 | 9,676 | 9,441 | ||
| Investment Income | 5 | 2,107 | 155 | 2,263 | 1,740 | ||
| Other Income | 6 | 0 | 0 | 0 | 2,800 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | |||
| Sub Total | 46,294 | 9,675 | 0 | 55,969 | 70,629 | ||
| Sale of Investments | 0 | ||||||
| Sale of fixed assets | 0 | ||||||
| Loans Received | 0 | ||||||
| ---------- | ---------- | ---------- | ---------- | ---------- | |||
| Total Receipts | 46,294 | 9,675 | 0 | 55,969 | 70,629 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | |||
| Payments | |||||||
| Raising funds | 7 | 454 | 0 | 454 | 448 | ||
| Charitable activities | 8 | 48,612 | 9,494 | 58,106 | 59,185 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | |||
| Sub Total | 49,066 | 9,494 | 0 | 58,560 | 59,633 | ||
| Purchase of Investments | 0 | ||||||
| Purchase of fixed assets | 0 | 13,082 | |||||
| Loan Repayments | 0 | ||||||
| ---------- | ---------- | ---------- | ---------- | ---------- | |||
| Total Payments | 49,066 | 9,494 | 0 | 58,560 | 72,715 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | |||
| Net receipts / (payments) | (2,772) | 181 | 0 | (2,591) | (2,086) | ||
| Transfers between funds | (3,654) | 3,654 | 0 | 0 | |||
| ---------- | ---------- | ---------- | ---------- | ---------- | |||
| Net movement in funds | (6,426) | 3,835 | 0 | (2,591) | (2,086) | ||
| Funds brought forward | 15,601 | 22,728 | 0 | 38,329 | 40,415 | ||
| ---------- | --------- | ---------- | ---------- | ---------- | |||
| Funds carried forward | 11 | 9,175 | 26,563 | 0 | 35,738 | 38,329 | |
| ====== | ====== | ====== | ====== | ====== |
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RINGSEND CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF ASSETS AND LIABILITIES As at 31 December 2022 Unrestricted Restricted Endowment Funds Fund5 Funds Total 20Z2 Total 2021 Funds Reconciliation Bank and Cash at start ofyear Net movement in funds 15,601 (6.426} 22,728 3.835 38,329 12,5911 40,415 12,0861 Bank and Cash at end of year 9,175 26,563 35,738 38,329 Bank & Cash Balances Bank Accounts Cash in Hand 35.738 38,329 35.738 38,329 Fixed Assets- Note 9 Church Premises including fixtures and fittings 2,050,525 1,907,467 Other Assets Investments- Note 10 Gift Aid receivable on donations Enter details of any other assets 98,580 4,962 104,557 5,710 103,542 110.267 Liabilities GB- Payments due 154 154 Approved by the Kirk Session at a meeting on l9 th ftb >)35 and signed on its behalf by Name Name Date Date (9 Page 2
RINGSEND CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS
31 December 2022
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 2022 | Total 2021 |
|
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Recorded giving | 28,933 | 5,139 | 34,072 | 38,459 | |
| Loose collections | 712 | 2,126 | 2,837 | 658 | |
| Donations and gifts | 335 | 395 | 730 | 450 | |
| Gift Aid | 4,527 | 1,860 | 6,387 | 5,050 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 34,506 | 9,519 | 0 | 44,025 | 44,617 | |
| ---------- | ---------- | ---------- | ---------- | ---------- |
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RINGSEND CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2022
3. CHARITABLE ACTIVITIES
| 3.CHARITABLE ACTIVITIES | |||||
|---|---|---|---|---|---|
| Unrestricted Funds |
Restricted Funds |
Endowment **Funds ** |
Total 2022 |
Total 2021 |
|
| £ | £ | £ | £ | £ | |
| Income from charitable activities | 5 | 0 | 5 | 0 | |
| Grants | 0 | 0 | 0 | 12,031 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 5 | 0 | 0 | 5 | 12,031 | |
| ---------- | ---------- | ---------- | ---------- | ---------- |
4. OTHER TRADING ACTIVITIES
| 4.OTHER TRADING | ACTIVITIES | ||||
|---|---|---|---|---|---|
| Unrestricted Funds |
Restricted Funds |
Endowment **Funds ** |
Total 2022 |
Total 2021 |
|
| £ | £ | £ | £ | £ | |
| Trading income | 9,676 | 0 | 9,676 | 9,441 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 9,676 | 0 | 0 | 9,676 | 9,441 | |
| ---------- | ---------- | ---------- | ---------- | ---------- |
5. INVESTMENT INCOME
| Unrestricted Funds |
Restricted Funds |
Endowment **Funds ** |
Total 2022 |
Total 2021 |
|
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Bank interest | 22 | 23 | 45 | 32 | |
| Other investment income | 2,086 | 132 | 2,218 | 1,708 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 2,107 | 155 | 0 | 2,263 | 1,740 | |
| ---------- | ---------- | ---------- | ---------- | ---------- |
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RINGSEND CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d) 31 December 2022
6. OTHER INCOME
| 6.OTHER INCOME | |||||
|---|---|---|---|---|---|
| Unrestricted Funds |
Restricted Funds |
Endowment **Funds ** |
Total 2022 |
Total 2021 |
|
| £ | £ | £ | £ | £ | |
| Insurance claims | 0 | 0 | 0 | 2,800 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 0 | 0 | 0 | 0 | 2,800 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 7.RAISING FUNDS | |||||
| Unrestricted Funds |
Restricted Funds |
Endowment **Funds ** |
Total 2022 |
Total 2021 |
|
| £ | £ | £ | £ | £ | |
| FWO envelopes | 454 | 0 | 454 | 448 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 454 | 0 | 0 | 454 | 448 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 8.CHARITABLE ACTIVITIES | |||||
| Unrestricted Funds |
Restricted Funds |
Endowment **Funds ** |
Total 2022 |
Total 2021 |
|
| £ | £ | £ | £ | £ | |
| General Assembly Assessments | 7,947 | 0 | 7,947 | 8,705 | |
| Presbytery fees | 275 | 0 | 275 | 236 | |
| Ministry and support staff costs | 30,219 | 36 | 30,255 | 27,352 | |
| Premises Costs | 7,290 | 0 | 7,290 | 6,225 | |
| Congregational running expenses | 1,753 | 861 | 2,614 | 1,990 | |
| Repairs and Maintenance | 577 | 2,334 | 2,912 | 8,133 | |
| Donations to Missions and charities | 250 | 6,263 | 6,513 | 6,294 | |
| Governance costs | 300 | 0 | 300 | 250 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 48,612 | 9,494 | 0 | 58,106 | 59,185 | |
| ---------- | ---------- | ---------- | ---------- | ---------- |
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RINGSEND CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d) 31 December 2022
9. FIXED ASSETS
The congregation owns the Church premises situated at 139 Cashel Road, Ringsend and the manse at 120 Cashel Road, Ringsend together with the associated fixtures, fittings, fittings, plant and machinery .
These have an insurance value of
| Church Church Hall Manse |
£ 1,319,965 473,703 256,857 |
|---|---|
| 2,050,525 |
The congregation also owns approximately 30 acres of land at 120 Cashel Road which had an estimated market value of £240,000 at the year end.
10. INVESTMENTS
The congregation has the following investments. Amounts are shown at market valuation.
| 2022 | 2021 | |
|---|---|---|
| Endowment Funds | £ | £ |
| Progressive Building Society | ||
| Minister | 2,540 | 2,540 |
| Repair and Reserve | 633 | 633 |
| P.W. | 3,037 | 3,037 |
| Sunday School | 2,750 | 2,750 |
| Youth Fellowship | 500 | 500 |
| ---------- | ---------- | |
| 9,460 | 9,460 | |
| ---------- | ---------- | |
| Other Investments | ||
| Unrestricted Investments | ||
| NFU Unit Managers Ltd Investment Portfolio Plan | 65,407 | 73,993 |
| HSBC shares (3858) | 19,895 | 17,309 |
| Aviva PLC shares (72) | 318 | 295 |
| Progressive Building Society | 3,500 | 3,500 |
| ---------- | ---------- | |
| 89,120 | 95,097 | |
| ---------- | ---------- | |
| TOTAL INVESTMENTS | 98,580 | 104,557 |
| ======= | ======= |
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RINGSEND CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d) 31 December 2022
11. FUND BALANCES
| Fund | Balance at start |
Receipts | Payment | Surplus / (Deficit) |
Transfer | Balance at end |
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | £ | |
| Unrestricted Funds | ||||||
| General Fund | 15,601 | 46,294 | 49,066 | (2,772) | (3,654) | 9,175 |
| Rev. Dinsmore Bursary | ||||||
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| 15,601 | 46,294 | 49,066 | (2,772) | (3,654) | 9,175 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| Restricted Funds | ||||||
| Repair and Reserve | 13,068 | 3,852 | 2,334 | 1,518 | 2,407 | 16,993 |
| United Appeal | (434) | 2,619 | 3,629 | (1,010) | 1,047 | (397) |
| World Development Appeal | (294) | 294 | 294 | 100 | 100 | |
| Pres. Children's Society | 0 | 337 | 337 | 0 | 0 | |
| Earl Haig | (24) | 124 | 80 | 44 | 20 | |
| Moderator's Appeal | 0 | 1,354 | 1,354 | 0 | 0 | |
| Sunday School | 2,553 | 186 | 868 | (682) | 200 | 2,071 |
| Choir | 4,179 | 2 | 2 | 4,181 | ||
| P.W. | 1,871 | 863 | 830 | 33 | (100) | 1,804 |
| Youth Fellowship | 1,809 | 7 | 25 | (18) | 1,791 | |
| Minister | 0 | 36 | 36 | 0 | 0 | |
| 0 | 0 | |||||
| 0 | 0 | |||||
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| 22,728 | 9,674 | 9,493 | 181 | 3,654 | 26,563 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| TOTAL CASH FUNDS | 38,329 | 55,968 | 58,559 | (2,591) | 0 | 35,738 |
| ======= | ======= | ======= | ======= | ======= | ======= |
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