ids Charity Registration No: NIC105586 charteted accountant5 PORTRUSH PRESBYTERIAN CHURCH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 IDS Chartered Accountants LLP Chartered Accountants 23125 Queen Street COLERAINE Co Londonderry BT52 1BG
PORTRUSH PRESBYTERIAN CHURCH ids. chartered accountants CONTENTS Page Legal and administrative information Trustees, report Independenl examiner's report Staternent of financial activities Statement of financial position 10 Notes to the financial statements
PORTRUSH PRESBYTERIAN CHURCH ids. chartered accountants LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr B G H Simpson Mr R S Medcalf Mr S A Mccartney Mr W A Duncan MrWRDunn Professor J H Gillespie Mrw C Harpur Rev J A Kirkpatrick Mr S Medcalf Mr D Mcmillan Mr W S Peake Mr S P Vandevyver Mr R Scoti Rev P Boyd (Appointed 29 April 2022) Charlty number NIC105586 Prlnclpal address 3.. 16 House 3 Main Street PORTRUSH Co Anlrim BT56 8BL Independent examiner IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1 BG Bankers Danske Bank 22 The Diamond COLERAINE Co Londonderry BT52 1 DE Solicitors Anderson Gillan Barr Ltd Solicitors 41 New Row COLERAINE Co Londonderry BT52 1AE
PORTRUSH PRESBYTERIAN CHURCH ids: chartered accountants TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 The Trustees present their annual report and financial statements for the year ended 31 December 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the book of the constitution and government of the Presbyterian Church in Ireland, the Charities Act (Northern Ireland) 2008 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" (as amended for accounting periods commencing from l January 2016). Objectives and activitles Portrush Presbyterian Church is a congregation of the Presbyterian Church in Ireland. The Presbyterian Church in Ireland, as a Reformed Church within the wider body of Christ, is grounded in the Scriptures, and exists to love and honour God through faith in His Son and by the power of His Spirit, and to enable her members to play their part in fulfilling God's mission lo our world. The Charittys mission is.. disciples of Jesus Chrlst. For the Glory of God to present the gospel so that others will become true To make this rnission a reality, the Chanty 15 committed to the only God-given means of achieving il - the Word of God taught and preached simply, compassionately. and faithfully. This mission guides the Charity's Wision, which is to see as many people of all ages come to a personal relationship wlth Jesus Christ and growto become Useful Active Servlng members of HIS church. The congregation normally meets for worship every Sunday and visitors are welcome to join. It provides a centre for worship for the many visitors who come to Portrush throughout the year. The Sacrament of the Lord's Supper is observed on eight occasions during the year. All those who have been baptised and who have rnade a profession of faith in the Lord Jesus Christ are admitted to the Lord's Supper. The congregation hdds regular Bible study meetings and prayer meetings, and has a wide range of organisations including. Sunday School Youth Fellowship Boys, Brigade Girls, Brigade Tea and Tots Presbyterian Women Choir Craft Group Bowling Club New Beginnings.. a Gharity shop as a community seNice Achlevements and performance Worship and prayer The congregation normally meets for worship each Sunday at 11 am and 6.30pm. During the week a range of Bible study groups provides an opportunity for members to meet together for fellowship, to study the Scriptures, and for a time of prayer. As well as our regular services during the year we acknowledged God's gift of new life at four Sacraments of Baptism, gave thanks for faithful service, and sought to comfort those who had been bereaved during the year. At 31 December 2022 there were 243 communicant members and 189 families connected with the congregation. The average attendance at morning worship averaged 250 throughout the year. Online attendance, an imprecise measure, varied between 200 & 250.
PORTRUSH PRESBYTERIAN CHURCH ids, chartered accountants TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Pastoral care Members of the congregation who are unable to attend church due to sickness or age are visited on a regular basis by the minjster. elders or by one of the congregation's pastoral vlsitors subject lo Covid regulations. Video and audio recordings of the morning Servi are distributed weekly to those unable to attend, and communion servitss held. as appropriate, in people's homes. Since the beginning of the pandemic, all in-person rllorning services have been live-streamed. Counselling is available for all members of the church family, as required, and is provided by members of the Ministry team, and there is a strong emphasis on the distribution of practical support for those in need. Mission and outreach At a local level our mission is expressed by our worship, which is a key element of expressing our love for God. Our worship is therefore inclusive of age and style, and allows those whom God has so gifted to creatively express their love by these gifts. We promote fellowship within the church and encourage each member lo see hislher responsibility to be a catalyst for fellowship, caring, sharing, praying, encouraging, and visiting. This also challenges us as to our responsibility to develop fellowship with Christians outside our church. This is the basis for our outreach to the whole local community in caring service and evangelism, not only as individuals and families, but through the activities of the organisations listed above and below. The congregation supports the United Appeal for Mission, which is a central fund of the Presbyterian Church in Ireland. This fund enables congregations lo support the wider mission of the denomination and to do mission and outreach on a denominational basis beyond what the congregation could do on its own. The United Appeal Fund provides financial support for mission personnel at home and overseas, assists congregations with the deployment of locally based staff, enables church planting, provides grant support for the upkeep of church premises, assists with the running costs of Union Theological College, the church's training college for ministry students, and financially supports congregations in the areas of worship, discipleship, global mission, outreaGh, leadership and pastoral care. Presbytery The congregation was represented at the regular meetings of Presbytery by our minister andlor one of the elders. This provides an important link between the congregations and the wider structures of the church. General Assembly The minister and one of our elders were nominated to attend the meeting of the General Assembly of the Presbyterian Church in Ireland held in Assembly Buildings, Belfast, in June. Property Commencing in 2017 the congregation completed the renovation and refurbishment of No 14 Mark Street, the former home of our caretaker, in order to provide acGommodation for charitable purposes, community support and the wider ministry ofthe church. The project was completed in 2018.
PORTRUSH PRESBYTERIAN CHURCH ids chartered accountants TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Organisations In addition lo our Sunday School, our Youth Fellowship and our Home Bible Study Groups, there are a nurnber of thriving organisations. In-person activities for these organisations resumed in early autumn as pandemic restrictions eased. Our Home Bible Study Groups and Youth Fellowship met online in the earlier part of the year. The local branch of Presbyterian Women met monthly during autumn and winter in support of missionary and discipleship work in the church. Our Girls, Brigade Company meets each Monday with, on average, thirty girls of ages from four to eighteen attending. Our Boys, Brigade Company meets each Friday during the autumn and winter terms, with over twenty five boys of the same age range regularly attending Each organisation provides a range of activities of games, crafts, Bible teaching, and so on. Our Tea and Tots group meets every Friday morning in our halls. Fifteen children and their carers are regular attenders. These organisations have participants from throughout the community. as does our Bowling Club, which meet once a week in our halls with between fifteen and twenty regular attenders. We also have a craft group with a dozen members, who make craft items to distribute to those in need both at home and abroad. Reality 3'.16, our Worldview programme, met regularly throughout the year. in person in Reality 3..16 House, with participants from all over the province engaging in significant study of the Christian faith in relation to our modern world. Volunteers The Trustees wish to acknowledge their deep appreciation of the more than one hundred church Members and others who give freely of their time by serving on committees and helping with these organisalions and other church activities. Public Benefit statement The Presbyterian Church in Ireland meets the public benefit requirernenl by providing benefit lo its members and the general public by making known the Christian Gospel of the Lord Jesus Christ through the advancemenl of religion. The direct benef1ts which flow from the purposes of the Church include the gaining of an understanding in Christian beliefs as set out in the Bible and in the Church's subordinate standards {the Westminsler Confession of Faith and the Shorter and Larger Catechisms) leading to spiritual and moral development and opportunities for response to Bible teaching. In turn, this framework leads to practical expressions of Christian beliefs and standards in the local community, such as through the care of those in need {including the sick, disabled and bereaved}. Generally, the above benefits are delivered locally by congregations and their members, or are facilitated through presbyteries or are organised and delivered centrally. Local delivery is facilitated by central resources in almost all cases. Public access is made known through the use of noticeboards, printed material, press advertisement, websites, and social media or in other ways. The benefits are demonstrated through regular evaluation of the services and informal and ad-hoc feedback from members, their farnilies, and members of the public. The purpose does not lead to harm. The only private benefit flowing from our purpose is related to Ministers, Missionaries, Deaconesses, Irish Mission workers and Lay Agents who receive benefits as a result of their holding office or employment. However, this is incidentsl and necessary in order to further our charitable purpose. There are no other private benefits. The beneficiaries of this purpose are members, their families, other individuals with whom the Presbyterian Church in Ireland is in direct and indirect contacl, the community in which pastoral services are provided and other communities throughout Northern Ireland, the Republic of Ireland, and worldwide which benefit from our engagement with and support for both Christian and other secular organisations, charities and individual members of the public.
PORTRUSH PRESBYTERIAN CHURCH ids. chartered accountants TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 The Kirk Session has had regard to the Charity Commission's public benefit requirement statutory guidance. The congregation of Portrush provides facilities for other Churches and Christian groups from far and wide for trips and events, and for conference facilities. The Ghurch also maintains, through the efforts of our Property committee, the extensive Grade 2 buildings on our Main Street Portrush sile, which represent some of the most important heritage buildings of the town and area. Financial review The congregation's main source of income is members, contributions through the Weekly Freewill Offering. There were 126 contributing families during the year12021: 1231 donating a total of £112.31712021.' £112,797). Total income of the congregation during the year was £257,666, compared to £246,747 in the previous year. Total expenditure increased from £225,201 to £237,430. Golng concern The activities of the congregation are dependent on ongoing contributions from its members. The Trustees are of the opinion that the congregation has sufficient resources at the date of approval of these fnancial statements to meet commitments which will arise in the year from the date of signing this report and subject to the continuing support from members to fund on an ongoing basis the congregation's current activities and other financial commitments. Reserves policy The Trustees have considered the level of unrestricted reserves that it is appropriate to hold taknng account of current and ongoing commitments. It is the policy of the Trustees to hold al least one month's normal expenditure. Al the year-end unrestricted reserves were £39,044, which represents a higher level of reserves than required by this policy. The Trustees however, consider it prudent to hold reserves at this level as the funding of its present activities is dependent of the ongoing financial support of members. Risk review A review of major risks has been undertaken by the Trustees and systems and procedures implemented to manage identified risks. The principal risks are in relation to the likelihood of reputational damage and financial rtsks associated with the expectation of ongoing financial support from members. These risks are mitigated by the Trustees and the Congregational Committee regularly monitoring the various activities of the congregation at slated meetings and by encouraging members in their regular giving. Structure, governance and management The Charity is an unincorporated organisation. The Trustees who served during the year and up to the date of signature of the financial statements were.. Mr B G H Simpson Mr R S Medcalf Mr J A Warke Mr S A Mccartney Mr W A Duncan MrWRDunn Professor J H Gillespie Mr W C Harpur Rev J A Kirkpatrick Mr S Medcalf Mr D Mcmillan Mr W S Peake Mr S P Vandevyver Mr R Scott Rev P Boyd (Deceased 16 November 2022} (Appointed 29 April 2022)
PORTRUSH PRESBYTERIAN CHURCH ids. chartered accountants TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 The Kirk Session The charity Iruslees of the congregation are the members of its Kirk Session. Under the congregation's governing document, The Code, the book of the constitution and govemmenl of the Presbyterian Church in Ireland, the Kirk Session seeks to watch over and promote the spiritual interest of the congregation and of persons not connected with any congregation who are within its bounds. It ensures pastoral care is in place in the congregation and seeks lo further the contribution of the Church lo Christian witness and service in the local community. The Kirk Session has delegated to its Congregational Committee the ternporal affair5 of the congregation including administering all funds and property belonging to the congregation. Members of the Kirk Session are ex-officio members of the Congregational Committee. The Kirk Session consists of the ordained minister and the ruling elders of the congregations. All members are entitled to propose, speak and exercise equal votes at meetings, except that the Moderator, the minister in active duty in the congregation, has no deliberative but only a casting vote. Stated meetings of the Kirk Session are held at least five times a year. To be chosen for the office of the eldership in the congregation a person must be a voting member and a regular attendant on its ordinances. The selection of those proposed to be called to the office can be either by the congregation or by the Kirk Session. Members are elected if the obtain two-thirds of those who vote. Presbytery Under the Presbyterian Church in Ireland form of governance the corporate oversight of a congregation is the responsibility of a Presbytery which superintends generally the spiritual and temporal affairs of the congregations assigned to it by the General Assembly of the Presbyterian Church in Ireland. Portrush Presbyterian Church has been assigned lo the Coleraine & Limavady Presbytery of the Presbyterian Church in Ireland. The membership of the Presbytery consists mainly of the aCtve ministers of congregations assigned to it by the General Assembly, ministers who have retired from active duty, and an elder appointed by the Kirk of Session of each congregation. The General Assembly The General Assembly is the supreme court of the Church, representing, in one body, the whole Church, and acting as ils supreme legislative, administration and judicial authority in dealing with all matters brought before it. The General Assembly is normally constituted in June for worship and to conduct its business At the end of business it is dissolved. The membership of the General Assembly consists mainly of the active ministers of each congregation, retired ministers and a representative elder appointed by the Kirk Session of each congregation. The Trustees, report was approved by the Kirk of Session and signed on its behalf by Professor J H Gillespie Trustee Dated.. 28 February 2023 Rev P Boyd Trustee Dated.28 February 2023 4vO4 14 6yA
PORTRUSH PRESBYTERIAN CHURCH ids, chartered accountants INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PORTRUSH PRESBYTERIAN CHURCH I report to the Trustees on my exarnination of the financial slalemenls of Portrush Presbyterian Church {the Charity) for the year ended 31 December 2022. Responsibilities and basis of report As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act (Northern Ireland) 2008 Ilhe 2008 Act). It is my responsibility to.. examine the accounts under section 65 of the Charit1es Act (Northern Ireland) 2008., follow the procedures laid down in the general Directions given by the Charity Commission for NOrern Ireland under section 65191(bl of the Charities Act., and state whether particular matters have come lo my attention. Independent examiner's statement Since the Charity's gross income exceeded £250,000 your examiner rnusl be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of Chartered Accountants Ireland, which is one of the listed bodies. Your attention is drawn to the fact Ihat the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. l understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally ACpted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Charity as required by section 63 of the 2008 Act,. or the financial slalements do not accord with those records., or the financial statements do not comply wilh the applicable requirements concerning the form and content of accounts set out in the Charities Act (Northern Ireland} 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Alison Wallace IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1 BG Dated.. 28 February 2023
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PORTRUSH PRESBYTERIAN CHURCH ids. chartered accountants STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2022 2022 2021 Notes Fixed assets Property. plant and equipment Investment properties Investments 15 16 17 1,080,000 223,859 109,866 1.080,000 223,859 119,708 1,413,725 1,423,565 Current assets Trade and other receivables Cash at bank and in hand 18 3,933 209,928 3,590 190,024 213,861 {7601 193,614 (748) Current liabilities 19 Net current assets 213,101 192,866 Total assets less ¢urrent liabilities 1,626,826 1,616,431 Capitsl funds Endowment funds - general Income funds General restricted funds Revaluation reseNe 71,055 73,449 285,598 1,231,735 283,386 1,231,735 1,517,333 38,438 1,515,121 27,861 Unrestricted funds 1,628,826 1,616,431 The financlal statements were approved by the Trustees on 28 February 2023 Professor J H Gillespie Trustee Rev P Boyd Trustee 10-
PORTRUSH PRESBYTERIAN CHURCH ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policies Charity information Portrush Presbyterian Church is an unincorporated charity operating in Northern Ireland. 1.1 Accounting convention The financial statements have been prepared in accordance with the Charities Act (Northern Ireland) 2008 and Accounting and Reporting by Charities. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021" (as amended for accounting periods commencing from 1 January 2018}. The Charity is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Golng concern At the time of approving the financial slatemenls. the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue lo adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available tor use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purpses and uses of the restricted funds are set out in the notes lo the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity. 1.4 Incomlng resources Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or othetwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Assets for distribution are recognised only when distributed. Assets given for use by the Charity are recognised when receivable. Stocks of undistributed donated goods are not valued for balance sheet purposes. Revenue is measured at the fair value of the consideration received or re[Vable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts. 11
PORTRUSH PRESBYTERIAN CHURCH ids: chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policies (Continued) 1.5 Resources expended Liabilities are recognised as soon as there is a legal or constructiv& obligation committirg the congregation to pay out resources. Governarice costs are shown within charitable activities and include the costs of preparation and examination of accounls, the costs of trustee rneetings and cost of any legal advice lo trustees on governance or constitutional mallers. 1.6 Property, plant and equipment Property, plant and equipment are initially measured al cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their usefijl lives on the following bases.. Freehold land and buildings Fixtures and fittings Computers 00/0 Straight line 200/0 Straight line 250/0 Straight line Land and buildings are valued al market value and are subject to regular revaluations every 3 years and, as such, are not depreciated. 1.7 Investment properties Investment property, which is property held to earn rentals andlor for capital appreciation. is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss. 1.8 Non-current Investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured al fair value at each reporting date. Changes in fair value are recognised in net incomel{expenditure) for the year. Transaction costs are expensed as incurred. 1.9 Impairment of non-current assets At each reporting end dale, the Charity reviews the carrying amounts of its tangible assets lo determine whether there is any indication that those assets have suffered an impairrnent loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 1.10 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks. other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 12-
PORTRUSH PRESBYTERIAN CHURCH ids, chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policies (Continued) 1.11 Financial instruments The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instrument5. Financial instruments are recognised in the Charity's balance sheet when the Charity becomes paty to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured al transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of nterest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including trade and other payables and bank loans are initially recognised al transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the Charity's contractual obligations expire or are discharged or cancelled. Critical accounting estimates and Judgements In the application of the Charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects cnly that period, or in the period of the revision and future periods where the revision affects both current and future periods. 13-
PORTRUSH PRESBYTERIAN CHURCH ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Donations and legacies Unrestricted Restricted funds funds Total Unrestricted Restricted funds funds Total 2022 2022 2022 2021 2021 2021 Donations and gifts Grants received 129,232 67.125 2,600 196,357 2,600 120,612 79,756 2,800 200,368 2,800 129,232 69,725 198,957 120,612 82,556 203,168 Donations and gifts Loose collections Donations and gifts GiftAid Legacies and bequest 109,992 18,434 38,656 9.775 260 128.426 38,656 29,015 260 101,165 18,446 45,909 12,490 2,911 119,611 45,909 31,487 3,361 19,240 18,997 450 129,232 67,125 196,357 120,612 79,756 200,368 Grants received EA Grant 2,600 2,600 2,800 2,800 2,600 2,600 2,800 2,800 Charitable activities 2021 Reality course 2,449 Other trading activitles Unrestrlcted Restricted funds funds Total Unrestricted Restricted funds fLfnds Total 2022 2022 2022 2021 2021 2021 Church events, sale of bookslCDslDVDslchurch magazines, and New Beginnings shop 1,045 33,566 34,611 320 23,570 23,890 14-
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PORTRUSH PRESBYTERIAN CHURCH ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 other income Unrestricted Restrlcted funds funds Total Restricted funds 2022 2022 2022 2021 other income 40 3,324 3,364 920 Raising funds Unrestricted Unrestricted funds funds 2022 2021 FWO envelopes 606 606 606 606 Charitable activities 2022 2021 General Assembly Assessments Presbytery fees Ministry and support staff costs Congregational running expenses Donations to missions and charities 12,819 804 102,443 73,743 43,341 13,834 628 91,031 74,312 39,939 233,150 219,744 Share of governance costs (see note 10} 3.559 4,637 236,709 224,381 Analysis by fund Unrestricted funds Restricled funds 146,952 89,757 123,935 100.446 236,709 224,381 16-
PORTRUSH PRESBYTERIAN CHURCH ids,, chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 10 Support costs Support Governance costs costs 2022 2021 Annual reports Accountancy Professional fees Advertising, printing, stationery and postage Bank interest and charges 140 840 820 1,133 626 140 840 820 1,133 626 135 840 2,110 1,238 314 3,559 3,559 4,637 Analysed between Charitable activities 3,559 3,559 4,637 11 Trustees One of the Trustees, the minister of the congregation received remuneration of £49,52412021: £51,733) and expenses of £5,195 {2021'. £7,661} for acting in that capacity. Pension contribution of £10,745 (2021-. £10,508) were paid by the congregation in respect of the minster to the Presbyterian Church in Ireland Pension Scheme (20091. None of the other trustees received any remuneration. Several Trustees, and their related parties were reimbursed a total of £1,162 for expenses paid on behalf of the church (2021. £5581. 12 Employees The average monthly number of employees during the year was.. 2022 Number 2021 Number There were no employees whose annual remuneration was more than £60,000. 13 Other Endovmient Endowment funds funds general general 2022 2021 Endowment funds- ministry & support staff Other expenditure 14 200 100 115 214
PORTRUSH PRESBYTERIAN CHURCH chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 14 Net gainslllosses) on Investments Restricted Endowment funds funds general 2022 Total Restrlcted Endowment funds funds general 2021 Total 2022 2022 2021 2021 Revaluation of investments {3,803) 16,0381 19.8411 5,275 8,375 13,650 15 Property, plant and equipment Froghold land Flxtures and and building5 flttlngs Computers Total Cost At 1 January 2022 1,080,000 19,464 2,309 1,101,773 At 31 December 2022 1,080,OQQ 19,464 2,309 1,101,773 Depreciation and impairment At 1 January 2022 19,464 2,309 21,773 At 31 December 2022 19,464 2,309 21,773 Carrylng amount At 310ecember 2022 1,080.000 1,080,000 At 31 December 2021 1,080,000 1,080,000 The property comprises the church building, church hall, church office and the manse. No. 14 Mark Street, which was formerly the caretaker's house, has been rented out to a 3rd party and re-classified as an investment property. Market value has been determined as follows: Building Address Church & church hall Main Street, Portrush Church office Main Street, Portrush Manse 1 Corrstown Park, Portrush Estimated Value Source 650,000 FletcherTorren5 . 300.000 Fletcher Torrens" 130,000 LPS rates valuation Fletcher Torrens Estate Agents valued the properties on 1 November 2018 16 Investment property 2022 Falr value At l January 2022 and 31 December 2022 223,859 18
PORTRUSH PRESBYTERIAN CHURCH ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 16 Investment property (Continued) The investment property is no. 14 Mark Street, Portrush. 11 was previously the church caretaker's house, but was let on an arms, length basis in 2018 and was reclassified as an investment property in the year ended 31 December 2018. It was valued at £200,000 as at 31 December 2017 based on the LPS rates valuation ofthe adjacent identical property, no. 16 Mark Street. Capital expenditure of £23,859 was undertaken in 2018 10 improve the property prior to letting it and the estimated valuation has been increased accordingly. 17 Fixed asset investments Listed investments Cost or valuation At 1 January 2022 Valuation changes 119,706 (9,840) At 31 December 2022 109,886 Carrying amount At 31 December 2022 109,866 At 31 December 2021 119,706 18 Trade and other recelvables 2022 2021 Amounts falllng due withln one year: Other receivables Prepayments and accrued income 3,402 531 3,075 515 3,933 3.590 19 Current liabilities 2022 2021 Other taxation and social security Accruals and deferred income 260 500 248 500 760 748 19-
PORTRUSH PRESBYTERIAN CHURCH ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 20 Retirement benefit schemes The minister of the congregation is a member of the Presbyterian Church in Ireland Pension Scheme12009). This is a scheme operated by the Presbyterian Church in Ireland, a separate registered charity. The congregation pays an assessment to the Presbyterian Church in Ireland equivalent to the employer's Fension contribution for the Scheme and based on the stipend paid to the minister. The Presbyterian Church in Ireland Pension Scheme120091 is a funded Scheme of the defined benefit type, providing defined benefits 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 and the Scheme Trustees have agreed a funding plan to ensure the Scheme is sufficiently funded to meet current and future obligations. A formal schedule of contributions was drawn up on 25 November 2015 whereby the Presbyterian Church agreed to pay from 31 December 2015 contributions of 240/0 of pensionable salaries to cover the accrual of benefits for future service, expenses, the cost of insuring death in seNice benefits and funding the scheme deficit. The contributions made by the congregation during the year were.. 2022 2021 Contributions 10,745 1Q,508 The congregation operates a defined pension contribution policy for its employees. The scheme and its assets are held by an independent soheme manager. The pension charge represents the contributions due from the congregation during the year.. 2022 2021 Contributions 1,440 1,440 -20-
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