# **MAGILLIGAN PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND** **Financial Statements for the year ended 31 December 2023** **Registered Charity in Northern Ireland (NIC 105576)** ## **MAGILLIGAN PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the year ended 31 December 2023** |**Note**
**Unrestricted**
**Restricted**
**Endowment**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
**Receipts**
Donations and legacies
**2**
81,288
5,308
0
Investment Income
**5**
8,807
2,300
0
Other
**6**
0
0
0
**Total Receipts**
**90,095**
**7,608**
**0**
**Payments**
Raising funds
**7**
160
0
0
Charitable activities
**8**
28193
9748
0
**Total Payments**
**28353**
**9748**
**0**
Net receipts / (payments)
**61,742**
**-2,140**
**0**
Transfers between funds
**0**
**0**
**Net movement in funds**
**61,742**
**-2,140**
**0**
**Funds brought forward**
**27,337**
**119,928**
**224,347**
(Loss)/Gain in investments
**0**
**0**
**13,926**
**Funds carried forward**
**12**
**89,079**
**117,788**
**238,273**|**Total**
**Total**
**2023**
**2022**
**£**
**£**
**86,596**
**28,924**
**11,107**
**5,065**
**0**
**0**
**97,703**
**33,989**
**160**
**171**
**37,941**
**31,357**
**38101**
**31528**
**59,602**
**2,461**
**0**
**0**
**59,602**
**2,461**
**371,612**
**400,304**
**13,926**
**-31153**
**445,140**
**371,612**| |---|---| ## **MAGILLIGAN PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF ASSETS AND LIABILITIES As at 31 December 2023** |**Note**
**Unrestricted**
**Restricted**
**Funds**
**Funds**
**£**
**£**
**Funds Reconciliation**
Bank and Cash at start of year
27,337
119,928
Net movement in funds
61,742
-2,140
**Bank and Cash at end of year**
**12**
**89,079**
**117,788**
**Bank & Cash Balances**
Bank Deposit Accounts
Bank Current Accounts
Cash in Hand
**Total Bank and Cash**
**Investments - Endowments**
**Total Assets per Statistics Form**
**Other Assets**
Fixed Assets
**10**
Other Investments -Land
**11**
Gift Aid receivable on donations
**est**
**Liabilities**
Accruals and Sundry Creditors
**Total Assets**|**Total**
**Total**
**Funds**
**Funds**
**2023**
**2022**
**£**
**£**
**147,265**
**144,804**
**59,602**
**2,461**
**206,867**
**147,265**
**0**
**0**
**206,791**
**147,189**
**76**
**76**
**206,867**
**147,265**
**238,273**
**224,347**
**445,140**
**371,612**
**1,327,428**
**1,148,666**
**374,000**
**90,000**
**7,600**
**3,800**
**1,709,028**
**1,242,466**
**-780**
**-570**
**2,153,388**
**1,613,508**| |---|---| Approved by the Kirk Session on 18/ 09/ 2024 and signed on its behalf by **Rev Drewe McConnell Hugh Smyth** ## **MAGILLIGAN PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS for the year ended 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 in accordance with the provisions in The Charities (Accounts and Reports Regulations (Northern Ireland) 2015 to prepare its accounts on a receipts and payments basis. ## **FUND ACCOUNTING** Endowment funds are funds, the capital of which must be retained either permanently or at the for the year ended 31 December 2023 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. ## **MAGILLIGAN PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (continued)** **for the year ended 31 December 2023** |**2. DONATIONS AND LEGACIES**
**Un**
Recorded giving
Loose collections
Donations and gifts
Gift Aid
Legacies and bequest
**for the year ended 31 December 2022**
**Un**
Fundraising events
Membership fees
Grants
**4. OTHER TRADING ACTIVITIES**
**Un**
Letting of premises
Trading income
**5. INVESTMENT INCOME**
**Un**
Deposit interest
General Investment Fund
Conacre Lettings
Other investment income
**6. OTHER INCOME**
**Un**
Insurance claims
Other income - Graveyard
**7. RAISING FUNDS**
**Un**
FWO envelopes
Fundraising events
**8.CHARITABLE ACTIVITIES**
**Un**
General Assembly Assessments (inc Stipend)
Presbytery fees
Ministry and support staff costs
Congregational running expenses
Donations to Missions and charities
Repairs and Maintenance inc Assets
**9. OTHER EXPENDITURE**
**Un**
Investment properties expenses
**10. FIXED ASSETS**|**re**
**F**
15
4
2
59
**81**|**stricted**
**Restricted**
**Endowment**
**Total**
**Total**
**unds**
**Funds**
**Funds**
**2023**
**2022**
**£**
**£**
**£**
**£**
**£**
,513
4,751
**20,264**
**17,026**
,445
0
**4,445**
**3,496**
,218
557
**2,775**
**4,645**
0
0
**0**
**3,757**
,112
0
**59,112**
**0**
**,288**
**5,308**
**0**
**86,596**
**28,924**
**stricted**
**Restricted**
**Endowment**
**Total**
**Total**
**unds**
**Funds**
**Funds**
**2023**
**2022**
**£**
**£**
**£**
**£**
**£**
0
0
**0**
**0**
0
0
**0**
**0**
0
0
**0**
**0**
**0**
**0**
**0**
**0**
**0**
**stricted**
**Restricted**
**Endowment**
**Total**
**Total**
**unds**
**Funds**
**Funds**
**2023**
**2022**
**£**
**£**
**£**
**£**
**£**
0
0
**0**
**0**
0
0
**0**
**0**
**0**
**0**
**0**
**0**
**0**
**stricted**
**Restricted**
**Endowment**
**Total**
**Total**
**unds**
**Funds**
**Funds**
**2023**
**2022**
**£**
**£**
**£**
**£**
**£**
100
695
**795**
**359**
37
0
**37**
**22**
,598
0
**8,598**
**3,100**
72
1,605
**1,677**
**1,584**
**,807**
**2,300**
**0**
**11,107**
**5,065**
**stricted**
**Restricted**
**Endowment**
**Total**
**Total**
**unds**
**Funds**
**Funds**
**2023**
**2022**
**£**
**£**
**£**
**£**
**£**
0
0
**0**
**0**
0
0
**0**
**0**
**0**
**0**
**0**
**0**
**0**
**stricted**
**Restricted**
**Endowment**
**Total**
**Total**
**unds**
**Funds**
**Funds**
**2023**
**2022**
**£**
**£**
**£**
**£**
**£**
160
0
**160**
**171**
0
0
**0**
**0**
**160**
**0**
**0**
**160**
**171**
**stricted**
**Restricted**
**Endowment**
**Total**
**Total**
**unds**
**Funds**
**Funds**
**2023**
**2022**
**£**
**£**
**£**
**£**
**£**
3262
0
**13,262**
**12553**
129
0
**129**
**110**
880
0
**880**
**738**
,592
274
**8,866**
**5688**
936
654
**2,590**
**3144**
394
8820
**12,214**
**9124**
**8193**
**9748**
**0**
**37941**
**31357**
**stricted**
**Restricted**
**Endowment**
**Total**
**Total**
**unds**
**Funds**
**Funds**
**2023**
**2022**
**£**
**£**
**£**
**£**
**£**
0
0
0
**0**
**0**| |---|---|---| ||**re**
**F**
**re**
**F**
**re**
**F**

8
**8**|| ||**re**
**F**
**re**
**F**


**re**
**F**
1


8
1
3
**2**|| ||**re**
**F**|| The congregation owns the Church premises situated at 472 Seacoast Road,Limavady,BT49 0LF, and the associated fixtures, fittings, plant and machinery. These had an insurance value of £1,327,428 at 31 October 2023 |68.2 acres of farmland (Valued by A Gourley 11 December 2023)|**374,000**|**90,000**| |---|---|---| |**11. INVESTMENTS**|**Total**|**Total**| ||**2023**|**2022**| |The congregation has the following investments. Amounts are shown at market valuation.|**£**|**£**| |General Investment Fund (104 shares - 46 minister,58 congregation)|**1,386**|**1,271**| |Manse Fund Trust - Davy Investments at 31/12/2022|**235,786**|**221,745**| |Nat West Shares (502 shares)|**1,101**|**1,331**| |Total per Statistics Form|**238,273**|**224,347**| ## **MAGILLIGAN PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (continued) for the year ended 31 December 2023** ## **12. FUND BALANCES per PCI** |**Fund**
**Unrestricted Funds**
General Fund
United Appeal
Missions and Charities
**for the year ended 31 December 2023**
**Restricted Funds**
Repair Account
War Stock
PW Account
Manse Fund
Total Restricted
**Endowment Funds**
Total|**Balance**
**Receipts**
**at start**
**£**
**£**
**27,337**
90095
**0**
**0**
**27,337**
**90,095**
**50,793**
4,862
**46,572**
584
**2,188**
557
**20,375**
1,605
**119,928**
**7,608**
224,347
0
**371,612**
**97,703**|**Payment**
**Surplus / Transfer**
**Balance**
**(Deficit)**
**Gain**
**at end**
**£**
**£**
**£**
**£**
-28353
61,742
**89,079**
0
**0**
0
**0**
**-28,353**
**61,742**
**0**
**89,079**
-8,876
-4,014
0
**46,779**
0
584
0
**47,156**
-842
-285
0
**1,903**
-30
1,575
0
**21,950**
**-9,748**
**-2,140**
**0**
**117,788**
0
13,926
0
**238,273**
**-38,101**
**73,528**
**0**
**445,140**| |---|---|---|