Ringsend Congregation of the Presbyterian Church in Ireland
Financial Statements
Year Ended 31[st] December 2023
NIC 105573
RINGSEND 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 | 47,481 | 14,553 | 62,034 | 44,025 | ||
| Charitable activities | 3 | 362 | 0 | 362 | 5 | ||
| Other trading activities | 4 | 9,691 | 0 | 9,691 | 9,676 | ||
| Investment Income | 5 | 3,323 | 434 | 3,757 | 2,263 | ||
| Other Income | 6 | 1,672 | 0 | 1,672 | 0 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | |||
| Sub Total | 62,530 | 14,987 | 0 | 77,517 | 55,969 | ||
| Sale of Investments | 0 | ||||||
| Sale of fixed assets | 0 | ||||||
| Loans Received | 0 | ||||||
| ---------- | ---------- | ---------- | ---------- | ---------- | |||
| Total Receipts | 62,530 | 14,987 | 0 | 77,517 | 55,969 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | |||
| Payments | |||||||
| Raising funds | 7 | 532 | 0 | 532 | 454 | ||
| Charitable activities | 8 | 59,048 | 11,511 | 70,559 | 58,106 | ||
| Investment costs | 0 | 0 | 0 | 0 | |||
| ---------- | ---------- | ---------- | ---------- | ---------- | |||
| Sub Total | 59,580 | 11,511 | 0 | 71,091 | 58,560 | ||
| Purchase of Investments | 0 | ||||||
| Purchase of fixed assets | 0 | ||||||
| Loan Repayments | 0 | ||||||
| ---------- | ---------- | ---------- | ---------- | ---------- | |||
| Total Payments | 59,580 | 11,511 | 0 | 71,091 | 58,560 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | |||
| Net receipts / (payments) | 2,950 | 3,476 | 0 | 6,426 | (2,591) | ||
| Transfers between funds | (3,002) | 3,002 | 0 | 0 | |||
| ---------- | ---------- | ---------- | ---------- | ---------- | |||
| Net movement in funds | (52) | 6,478 | 0 | 6,426 | (2,591) | ||
| Funds brought forward | 9,175 | 26,563 | 0 | 35,738 | 38,329 | ||
| ---------- | --------- | ---------- | ---------- | ---------- | |||
| Funds carried forward | 11 | 9,123 | 33,041 | 0 | 42,164 | 35,738 | |
| ====== | ====== | ====== | ====== | ====== |
Page 1
RINGSEND CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF ASSEfs AND LIABILITIES As at 31 December 2023 Unrestrlrted Restricted Endowment Funds Funds Funds Total 2023 Total 2022 Funds Reconciliation Bank and Cash at start of year Net movement in funds 9,175 (521 26,563 6,478 35,738 6,426 38,329 12,591} Bank and Cash at end of year 9,123 33,041 42,164 35,738 Bank & Cash Balances Bank Accounts Cash inHand 42,164 35,738 42,164 35,738 Fixed Assets- Note 9 Church Premises including fixtures and fittings 2,204,315 2,050,525 Other Assets Investments- Note 10 Gift Aid receivable on donations 107,067 5,138 98,557 4,962 112,205 103,5 19 Approved by the Kirk Session at 3 meeting on 2 zfid F& 201¥ and signed on its behalf by Name Name Date Date ZV_ Page 2
RINGSEND 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 | 40,500 | 7,625 | 48,124 | 34,071 | |
| Loose collections | 1,471 | 4,289 | 5,760 | 2,837 | |
| Donations and gifts | 945 | 650 | 1,595 | 730 | |
| Gift Aid | 4,565 | 1,990 | 6,555 | 6,387 | |
| Legacies and bequest | 0 | 0 | 0 | 0 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 47,481 | 14,553 | 0 | 62,034 | 44,025 | |
| ---------- | ---------- | ---------- | ---------- | ---------- |
Page 3
RINGSEND 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 | 12 | 0 | 12 | 5 | |
| Fees from weddings and funerals | 350 | 0 | 350 | 0 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 362 | 0 | 0 | 362 | 5 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 4.OTHER TRADING ACTIVITIES | |||||
| Unrestricted Funds |
Restricted Funds |
Endowment **Funds ** |
Total 2023 |
Total 2022 |
|
| £ | £ | £ | £ | £ | |
| Trading income | 9,691 | 0 | 9,691 | 9,676 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 9,691 | 0 | 0 | 9,691 | 9,676 | |
| ---------- | ---------- | ---------- | ---------- | ---------- |
5. INVESTMENT INCOME
| Unrestricted Funds |
Restricted Funds |
Endowment **Funds ** |
Total 2023 |
Total 2022 |
|
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Bank interest | 181 | 247 | 428 | 45 | |
| Other investment income | 3,143 | 186 | 3,329 | 2,218 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 3,323 | 434 | 0 | 3,757 | 2,263 | |
| ---------- | ---------- | ---------- | ---------- | ---------- |
Page 4
RINGSEND 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 | 1,672 | 0 | 1,672 | 0 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 1,672 | 0 | 0 | 1,672 | 0 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 7.RAISING FUNDS | |||||
| Unrestricted Funds |
Restricted Funds |
Endowment **Funds ** |
Total 2023 |
Total 2022 |
|
| £ | £ | £ | £ | £ | |
| FWO envelopes | 532 | 0 | 532 | 454 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 532 | 0 | 0 | 532 | 454 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 8.CHARITABLE ACTIVITIES | |||||
| Unrestricted Funds |
Restricted Funds |
Endowment **Funds ** |
Total 2023 |
Total 2022 |
|
| £ | £ | £ | £ | £ | |
| General Assembly Assessments | 7,984 | 0 | 7,984 | 7,947 | |
| Presbytery fees | 264 | 0 | 264 | 275 | |
| Ministry and support staff costs | 31,217 | 50 | 31,267 | 30,255 | |
| Premises Costs | 9,445 | 0 | 9,445 | 7,290 | |
| Congregational running expenses | 1,887 | 1,356 | 3,242 | 2,614 | |
| Repairs and Maintenance | 7,410 | 1,484 | 8,894 | 2,912 | |
| Donations to Missions and charities | 0 | 8,621 | 8,621 | 6,513 | |
| Governance costs | 843 | 0 | 843 | 300 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 59,048 | 11,511 | 0 | 70,559 | 58,106 | |
| ---------- | ---------- | ---------- | ---------- | ---------- |
Page 5
RINGSEND CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d) 31 December 2023
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 |
£ 1,418,963 276,121 509,231 |
|---|---|
| 2,204,315 |
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.
| 2023 | 2022 | |
|---|---|---|
| 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 | 69,276 | 65,407 |
| HSBC shares (3858) | 24,518 | 19,895 |
| Aviva PLC shares (72) | 313 | 295 |
| Progressive Building Society | 3,500 | 3,500 |
| ---------- | ---------- | |
| 97,607 | 89,097 | |
| ---------- | ---------- | |
| TOTAL INVESTMENTS | 107,067 | 98,557 |
| ======= | ======= |
Page 6
RINGSEND 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 | 9,175 | 62,530 | 59,580 | 2,950 | (3,002) | 9,123 |
| Rev. Dinsmore Bursary | ||||||
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| 9,175 | 62,530 | 59,580 | 2,950 | (3,002) | 9,123 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| Restricted Funds | ||||||
| Repair and Reserve | 16,993 | 5,576 | 1,513 | 4,063 | 2,565 | 23,621 |
| United Appeal | (397) | 3,541 | 3,778 | (237) | 237 | (397) |
| World Development Appeal | 100 | 1,676 | 1,776 | (100) | 0 | |
| Pres. Children's Society | 0 | 460 | 460 | 0 | 0 | |
| Earl Haig | 20 | 104 | 124 | (20) | 0 | |
| Sunday School | 2,071 | 589 | 605 | (16) | 200 | 2,255 |
| Choir | 4,181 | 793 | 951 | (158) | 4,023 | |
| P.W. | 1,804 | 2,188 | 2,254 | (66) | 1,738 | |
| Youth Fellowship | 1,791 | 10 | 0 | 10 | 1,801 | |
| Minister | 0 | 50 | 50 | 0 | 0 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| 26,563 | 14,987 | 11,511 | 3,476 | 3,002 | 33,041 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| TOTAL CASH FUNDS | 35,738 | 77,517 | 71,091 | 6,426 | 0 | 42,164 |
| ======= | ======= | ======= | ======= | ======= | ======= |
Page 7
Independent examiner’s report to the trustees of Ringsend 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:
-
examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008
-
to follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act
-
to state whether particular matters have come to my attention.
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:
-
(1) which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with section 63 of the Charities Act and
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act 2008
have not been met or
- (2) to which, in my opinion, further information is required in order to enable a proper understanding of the accounts to be reached.
Olive K Wallace ACMA, CGMA OK Wallace Accountancy and Bookkeeping 101 Coolyvenny Road Coleraine BT51 3SF
22 March 2024