MAGILLIGAN PRESBYfERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND Financial Statements for the year ended 31 December 2022 Registered Charity in Northern Ireland (NIC 105576) MAGILLIGAN PRESBYfERIAN CHURCH CONGREGATION OF THE PRES8YfERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the year ended 31 December 2022 Note Unrestricted Funds Restricted Endowment Funds Funds Total 2022 Total 2021 Receipts Donations and legacies Investment Income Other 22,180 3,303 6,744 1,762 28,924 5,065 26,591 3,511 2285 Total Receipts 25,483 8,506 33,989 32,387 Payments Raising funds Charitable activities 171 171 318 31,157 24385 6972 31,357 Total Payments 24556 6972 31528 31475 Net receipts / Ipaymentsl Transfers between funds 927 1,534 2,461 912 Net movement in funds 927 1,534 2,461 912 Funds brought forward 26,410 118,394 255,51XI 400,304 388,238 ILossl/Gain in investments -31,153 -31,153 11154 Funds carried forward 12 MAGILLIGAN PRESBYTERIAN CHURCH CONGREGATION OF THE PRESB￿ER1AN CHURCH IN IRELAND STATEMENT OF ASSETS AND LIABILITIES As at 31 December 2022 Note Unrestricted Funds Restricted Funds Total Funds 2022 Total Funds 2021 Funds Reconciliation B8nk and Cash at Start of year Net movement in funds 26,410 927 118,394 1,534 144,804 2A61 143,892 912 Bank and Cash at end of year 12 27,337 119,928 147,265 144,804 Bank & Cash Balances B8nk Deposit Accounts B8nk Current Accounts 147,189 76 144,754 50 C8sh in Hand Total Bank and Cash 147,265 144,804 Investments- Endowments 224,347 255,500 Total Assets per Statlstlcs Form 371,612 4CN),304 Other Assets Fixed Assets io 1,148,666 1,148,666 Other Investments-Land Gift Aid receivable on donations li 90,CN)O 3,800 90,CN)O 3,800 est 1,242,466 1,242,466 Liabilities Loans Accruals and Sundry Creditors 570 -550 Total Assets 1614 648 1642 220 Approved by the Kirk Session at a meeting on 07/ 0912023 and signed on its behalf bv Rev Drewe Mcconnell Hugh Smyth MAGILLIGAN PRESBYTERIAN CHURCH CONGREGATION OFTHE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS for the year ended 31 December 2022 I. ACCOUNTING POLICIES BASIS OF FINANCIAL STATEMENTS A5 the total income of the congregation is less than £250,OOOthe corigregation have elected in accord3nce with the provision5 in The Ch3ritie5 IAccount5 and Report5 Regulation5 INortherri Ireland) 2015 to prepare its accounts on a receipt5 and payments basi5. FUND ACCOUNTING Eridowment funds are funds, the capital of which must be retained either permarientty or at the for the year ended 31 December 2022 unrestricted income funds dependirig upon the purpose for which the endowrnent wa5 e5tabli5hed in Restricted fund5 cornpri5e (al incorne from endowment5 which 15 to be expended only on the restricted purposes intended by the donor and Ibl revenue donation5 or grants for 3 specific congregation31 activity intended bythe donor. Where these fund5 have unspent balances, interest on their pooled investment is apportioned to the individual fund5 on an 3verage b31ance basi5. Unrestricted funds are income funds which are to be spent on the congregation'5 general purp05e5. Designated funds are general fund5 set aside by the congregation for use in the future. MAGILLIGAN PRESBYtERIAN CHURIH tONGREGATION OFTHE PRESBYtERIAN tHURtH IN IRELAND NOTESTOTHE ACCOUNfsicontinuedl forthe year Bnded al December2022 2. DONATIONSAND IEGACIES Unre5trictod Fund5 EndowmBnt Fund5 Totsl 2022 Totsl 2021 Fund5 3.965 17,022 3.496 3,496 4,645 3,757 DunatiUn5 andgift5 Gift Aid 3,810 744 forthe year Bnded al December2022 Unre5trictod Fund5 EndowmBnt Fund5 Totsl 2022 Totsl Fund5 2021 Fundrai5ingevent5 Metnbershipfee5 Grants 4. OTHER TRADINGAcfMWIES Unre5trictod Fund5 EndowmBnt Fund5 Totsl 2022 Totsl 2021 Fund5 Letting of premises Trading iniotne 5. INVESTMENT INCOME Unre5trictod Fund5 EndowmBnt Fund5 Totsl 2022 TDtal 2021 Fund5 239 22 Cunacre Letting5 Other investment Incurne 1,SB4 6. OTHER INCOME Unre5trictod Fund5 EndowmBnt Fund5 Total 2022 TDtsI 2021 Fund5 Other iniotne- Graveyard 7. RAISING FUNDS Unre5trictod Fund5 EndowmBnt Fund5 Total 2022 TDtal 2021 Fund5 FWOenvelop25 Fundrai5ingevent5 171 171 S.CHARITABIE ACtwttlES Unre5trictod Fund5 EndowmBnt Fund5 Totsl 2022 Totsl 2021 Fund5 General A55embly A55essments linc Stipendl Presbytery fees Ministry and 5UPPOrt &taff costs Cungr2gatiunal running eNpen5e5 12553 iio 738 650 5.467 221 5,6B8 3,144 2533 2984 611 6140 2255 Repair51nd Maintenance Inc A￿ts 24385 31357 g. OTHER EXPENDITURE Unre5trictod Fund5 EndowmBnt Fund5 Totsl 2022 Totsl 2021 Fund5 Inve5ttnent propertiesexp2n5es 10. FIXED ASS The cungregatiun own5the Church prem15es situated at472 5eicoa5t Road,LimavadyJBT49 OLF. andthe associated fixtures, fitting5. plant and machinery. These hid in In5urince valueuf £1148666 at Decemb2r 2021 13.6 acre5 of farmland IE5tatApproxE70W per acre) 90,000 11. INVE5TMENtS Totsl 2022 Totsl 2021 The cungregatiun ha5 thefullowing investments. Atnuunt5 are shown at market valuation. Min5e Fund Tru5t- Davy Investmentsit 3111212022 NatWe5t 5hire51502 shares? ,115 224,347 MAGILLIGAN PRESBYfERIAN CHURCH CONGREGATION OFTHE PRESBYTERIAN CHURCH IN IRELAND NOTESTOTHE ACCOUNTS Icontlnuedl fortheyear ended 31 De￿mber201I 12. FUND BALANCES perPCI Fund Balance ai start Recelpts Payment Surplusl Transfer Ioeficltl Gal Balance at end Unrestrfrted Funds General Fund Uniied Appeal 26,410 25483 -24556 927 27,337 fortheyear ended 31 De￿mber201I 26,410 2J,483 -24,556 927 27,337 Restrlrted Funds RepalrAtcouni War Stock PWActount Manse Fund 50,649 46,516 2,408 6.343 56 -6,199 144 50,793 46,572 2,18 20,375 56 523 -743 -220 1.584 -30 1.554 11E,394 8,506 -6,972 119,928 Endowment Fut￿$ 255.500 -31.153 224,347