ids
Charity Registration No: NIC105586
chartered accountants
PORTRUSH PRESBYTERIAN CHURCH
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
IDS Chartered Accountants LLP
23125 Queen Street
COLERAINE
Co Londonderry
BT52 1BG

ids.
PORTRUSH PRESBYTERIAN CHURCH
chartered accountants
CONTENTS
Page
Legal and administrative information
Trustees. report
Independent examiner's report
Statement of financial activities
Statement of financial position
10
Notes lo the financial statements

ids.
PORTRUSH PRESBYTERIAN CHURCH
chartered accountants
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr 8 G H Simpson
Mr R S Medcalf
r S A Mccartney
Mr W A Duncan
MrWRDunn
Professor J H Gillespie
Mr W C Harpur
Mr S Medcalf
Mr D Mcmillan
Mr W S Peake
Mr S P Vandevyver
Mr R Scott
Rev Dr J Coulter
(Appointed 1 September
20231
Charity number
NIC105586
Principal addre5S
3.. 16 House
3 Main Street
PORTRUSH
Co Anlrim
BT56 8BL
Independent examiner
IDS Chartered Accountants LLP
23125 Queen Street
COLERAINE
Co Londonderry
BT52 18G
Bankers
Danske Bank
22 The Oiamond
COLERAINE
Co Londondery
BT52 IDE
Solicitors
Anderson Gillan Barr Lid
Solicitors
41 New Row
COLERAINE
Co Londonderry
BT52 1AE

ids:
PORTRUSH PRESBYTERIAN CHURCH
chartered accountants
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trusl&e5 present their annual report and financial slaiemenls for the year ended 31 Oecember 2023.
The financial statements have been prepared in accordance with the accounting policie5 sel out in note I lo the
financial slalemenls and comply with the book of the conslilulion and govemmenl of the Presbyterian Church in
Ireland. the Charities Act INorthern Ireland) 2008 and "Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended for accounting periods
comrnencing from 1 January 20161.
Objectives and activities
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 lo love
and honour God through failh in His Son and by the power of His Spirit, and lo enable her members to play their
part in fulfilling God's mission lo our world.
The Charity's mission is-.
disciples of Jesus Christ.
For the Glory of God to present the gospel so that others will bocome true
To make this mission a reality. the Charity is cornmilled lo Ihe only God-given means of achieving it the Word of
God laughl and preached simply. compa5sionalely, and faithfully.
This mission guirjes the Charity's Vision, which is to see as many people of all ages come to a personal
relationship with Jesus Christ and grow to become Useful Active Serving members of His church.
The congregation normally meets for worship every Sunday and visitors are welcome lo join. It provides a
centre for worship for the many visitors who come lo 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 made a
profession of faith in the Lord Jesus Christ are admilled lo the Lord's Supper. The congregation hdds regular
Bible study meetings and prayer meetings, and has a wide range of Ofganisalions 1ncluding'.
Sunday School
Youth Fellowship
Boys, Brigade
Girls, Brigade
Tea and Tols
Presbyterian Women
Choir
Craft Group
Bowling Club
New Beginnings.. a charity shop as a comrnunity service
Achievements and performance
Worship and prayer
The congregation normally meets for worship each Sunday at 11am and 6.30pm. During the week a range of
Bible study grDUPS provides an opportvnity for members lo meet together for fellowship. lo study the Scriptures,
and for a time of prayer.
As well as our regular seNices during the year we acknowledged God's gift of new life al four Sacraments of
Baptisrn. gave thanks for faithful service, and sought to comfort those who had been bereaved during the year.
Al 31 December 2023 there were 253 communicant members and 196 families connected with the congregation.
The average attendance al morning worship averaged 250-300 from September to May and 450-500 from June
to August. Online allendance, an imprecise measure. varied between 150 & 250.

ids
PORTRUSH PRESBYTERIAN CHURCH
chartered accountants
TRUSTEES, REPORT {CONTINUED>
FOR THE YEAR ENDED 31 DECEMBER 2023
Pastoral care
Members of the congregation who are unable to attend church due lo sickness or age are vi51ted on a regular
basis by the minister, elders or by one of the congregation's pastoral visitors subject lo Covid regulations. Video
and audio recordings of the morning service are distributed weekly lo those unable lo attend, and communion
services held, as appropriate. in people's homes. S1nce the beginning of the pandemic, all in-person morning
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.
Ouf worship is therefore ir7clusive of age and style, and allows those whom God has so gifted lo creauvely
express their love by these gifts
We promote fellowship within the church and encourage each member lo see hislher responsibility lo be a
catalyst lor fellowship, caring, sharing, praying, encouraging, and visiting. Th15 also challenges u5 as lo our
responsibility lo develop fellowship with Christians outside our church. This is the basis for our outreach lo the
whole local community in caring service and evangelism, not only as individuals and families, bul through the
activities of the organisalions listed above and below
The congregation supports the United Appeal for Mission, which is a Central fund of the Presbyterian Church in
Ireland. Th￿S fund enables congregations to sUPPOrt the wider mission of the denomination and lo do mission
and outreach on a denominational basis beyond what the congregation could do on ils own. The United Appeal
Fund provides financial support for mission personnel al home and overseas. assists congregations with the
deployrnent of locally based staff. enables church planting. provides grant support for the upkeep of church
pr&mises, assists with the running costs of Union Theological College, the church's training college for ministry
students. and financia15y 5UPPOrts congregations the areas of worship, discipleship, gSobal mission. outreach.
leadership and pastoral care.
Presbytery
The congregation was represented al the regLJlar meetings of Presbytery by our minister andlor one of the
elders. This provides an irnportanl link between the congregations and the wider structures of the church.
General Assgmbly
The min151er and one of our elders were nominated to allend the meeting of the General Assembly of the
Presbyterian Church in Ireland held in Assembly Buildings. Belfast, in June.
Property
Early in 2023 serious leaks in the pipes for the central healing of the church led to the replacement of those pipes
and the complete resurfacing of the real car park, under which the pipas were laid.

ids.
PORTRUSH PRESBYTERIAN CHURCH
chartered accountants
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Organisations
In addition to our Sunday School, our Youth Fellowship and our Home Bible Study Groups. the￿ a￿ a number of
thriving organisalions. In-person activities for these organisalions resumed in early autumn as pandemic
restrictions eased. Our Home Bible Study Group5 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 woik in the church Our Girls, 8rigade Company meets each Monday W￿th. on average, thirty girls of
ages from four lo eighteen allending. Our 8oys' Brigade Company meets each Friday during the autumn and
winter terms, with over twenty five boys ol the same age range regularfy allending. Each organisalion provides a
range of activities of games. crafts, Bible leaching, and so on. Our Tea and Tols group meets every Friday
orning in our halls. Fifteen children and their c8rers are regular attenders. These organisations have
participants from throughout the community, as does our Bowling Club, which meet once 2 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 lo distribute lo those in need both at home and abroad.
Reality 3.'16, our Worldview programme, mel regularly throughout the year. in person in Reality 3=16 House. with
participants from all over the province engaging in significant study of the Chrislian faith in rela11Dn lo our modefn
world.
Volunteers
The Trustees wish lo acknowledge their deep appreciation of the more than one hundred church members and
others who give freely of their lime by serving on committees and helping with these organisations and other
church activities.
Publlc Benefit Statement
The Presbyterian Church In Ireland meets the public benefit requirement by providing benefit lo ils members and
the general public by making known the Chrislian Gospel of the Lord Jesus Christ through the advancement of
religion.
The direct benefits which flow from the purposes of the Church include the gaining of an understanding in
Christian beliefs as sel out in the Bible and in the Church'5 subordinate standards Ilhe Weslminsler Confession
of Faith and the Shorter and Larger Calechismsl leading lo spiritual and moral development and opportunities for
response lo Bible leaching In turn, this framework leads lo practical expressions of Christian beliefs and
standards in the local community, such as through the care of those in need lincluding the si¢k, disabled and
bereaved).
Generally. the above benefits are delivered locally by congregations and their members, or are lacililaled through
presbyteries or are Drganised and delivered centrally. Local delivery is facilitated by central resources in almost
all cases. Public access 15 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 families. 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 incidental and necessary in order lo further our charitablè
purpose. There are no other private benefits_ The beneficiaries ol this purpose are members. their families,
other individuals with whom the Presbyterian Church in Ireland is in direct and indirect contact, 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
organi5ations, charities and Individual members of the public.

ids.
PORTRUSH PRESBYTERIAN CHURCH
chartered occountonts
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
The Kirk Session has had regard lo the Charily Commission's public benefit requirement slalulory 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 church 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 Ihe Weekly Freewill Offering.
There were 137 conlribuling families during the year12022.' 1261 donating a total of £113,48512022'. £112,317).
Total income of the congregation during the year was £306.416. compared lo £257,666 in the previous year.
Total expenditure increased from £237,430 to £285.505.
Going concern
The activities ol the congregation are dependent on ongoing contributions from its members. The Trustees are
of the opinion that the congregation ha8 sufficient resources al the dale of approval of these linancial slalements
lo meet commitments which will arise in the year from the dale of signing this report and subject lo the continuing
support from members lo fund on an ongoing basis the congregation's Cur￿n1 activities and other financial
commitments.
Reserves policy
The Trustees have considered the level of unrestricted reserves that il is appropriate to hold laking account of
current and ongoing commilmenls. It is the policy of the Trustees to hold al least one month's normal
expenditure. Al the year-end unreslncled reserves were £64.498, which represents a higher level of reserves
than required by this policy. The Trustees however, consider it prudent lo hold reserves at this level as the
funding of ils present activities is dependent of the ongoing financial support of mernbers.
Risk review
A review ol major risks has been undertaken by the Trustees and systems and procedures implemented lo
manage identified risks, The principal risks are in relation lo the likelihood of reputational damage and financial
risks associated w￿th 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 congregat50n at
slated meetings and by encouraging members in Iheir regular giving.
structure, governance and management
The Charity is an unincorporated organisalion.
The Trustees who served dunng the year and up to the date of signature of the financial slalemenls were.
Mi B G H Simpson
Mr R S Medcalf
Mr S A Mccartney
Mr W A Duncan
MrWRDunn
Professor J H Gille5pie
Mr W C Harpur
Rev J A Kirkpalnck
Mr S Medcalf
Mr D Mcmillan
Mrw S Peake
Mr S P Vandevyver
Mr R Scott
Rev P Boyd
Rev Dr J Coulter
IResigned 31 August 2023
(Resigned 31 August 20231
(Appointed 1 September 20231

ids.
PORTRUSH PRESBYTERIAN CHURCH
chartered accountants
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
The Kirk Sossion
The charity Iruslees of the congregation are the members of ils Kirk Session. Under the congregation's
governing doc¢Jment, The Code, the book of the constitution and government of the Presbyterian Church in
Ireland, the Kirk Session seeks lo watch over and promote the spiritual interest of the congregation and of
persons not connected with any congregation who are within ils bounds. 11 ensures pa510ral care Is In place in
the congregation and seeks to further the contribution of the Church lo Christian witness and service in the local
community. The Kirk Session has de5egaled lo ils Congregational Committee the temporal affairs of the
congregation including administering all funds and property be1Dnging lo Ihe congregation. Members of the Kirk
Session are ex-officio members of Ihe Congfegalional Cornmillee
The Kirk Session consists of the ordained minister and the ruling elders of the congregations. All members are
entitled lo propose, speak and exercise equal votes al meetings, except that the Moderator. the minister in active
duty in the congregation, has no deliberative bul only a casting vote.
Slated meetings of the Kirk Session are held al least five times a year.
To be chosen for the office of the eldership in the congregation a person musl be a voting member and a regular
allendanl on ils ordinances The seleclion of those proposed to be called lo the office can be either by the
congregation or by the Kirk Session. Members are elected it 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 il 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 active ministers ol congregations assigned lo il by the General Assembly.
ministers who have retired from active duty, and an elder appointed by the Kirk of Session ol each congregalion,
The Ganeral Assembly
The General Assembly is the supreme court of the Church, representing. in one body. the whole Church, and
acting as its supreme legislative. adminislralion and judicial aulhonly in dealing with all matters brought before it.
The General Assembly is nomially consliluled in June for worship and lo conduct ils business, Al the end of
business il is dissolved. The membership of the General Assembly consists mainly of the aclive ministers of
each congregation. retired ministers and a repre5enlalive 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.. 30 January 2024
Rev Dr J Coulter
Trustee
Dated.'30 January 2024

ids
PORTRUSH PRESBYTERIAN CHURCH
chartered accountants
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF PORTRUSH PRESBYTERIAN CHURCH
I report lo the Trustees on my examination of the financial statements of Portrush Presbyterian Church (the Charity)
for the year ended 31 December 2023.
Responsibilities and basis of report
A5 the Trustees of the Charity you are responsible lor the preparation of the financial 5181emen15 accordance with
the requirements of the Charities Act (Northern Ireland) 2008 Ilhe 2008 Acll.
11 is my responsibility lo..
examine the accounts under section 65 of the Charities Act INorthem Ireland) 2008.,
follow the procedures laid down in the general Directions given by the Charity Commission for Northern
Ireland under section 65{9llbl of the Charities Act.. and
stale whether particular mallers have come lo my attention.
Independent examiner's statement
Since the Charity s gross income exceeded £250,000 your examiner musl be a member of a listed body. I conftrm
that l am qualified lo undertake the examination because l am a ￿ember of Chartered Accountants Ireland, which is
one of the listed bodies.
Yovr attention is drawn to the fact that 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 IFRS 1021 in preference to the Accounting and Reporting by Charities". Sialement
of Recommended Practice issued on 1 April 2005 which is referred lo the extant regu5aiions bul has now been
withdrawn.
l understand that this has been done in order for financial statements lo provide a true and fair view in accordance
with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examinalian. I confirm that no matters have come to my attention in connection with the
examinalion 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 slalemenls do not accord with those records., or
ltte financial slalements do not comply with the applicable requirements concerning Ihe form and contenl of
accounts sel out in the Charities Act (Northern Ireiandl 2008 other than any requirernenl that the accounts give
a true and faif view which is not a maller considered as part of an independent examination.
I have no concerns and have come across no other mallers in connection with the examination lo which allenlion
should be drawn in this report in order lo enable a proper understanding of the financial slalements to be reached.
Alison Wallace {FCAI
IOS Chartered AGcountants LLP
23125 Queen Street
COLERAINE
Co Londonderry
BT52 1BG
Dated- 30 January 2024

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PORTRUSH PRESBYTERIAN CHURCH
chartered accountants
STATEMENT OF FINANCIAL POSITION
AS AT31 DECEMBER 2023
2023
2022
Notes
Fixed assets
Property, plant and equipment
Investment property
Investments
15
16
17
7,064,254
158.697
119,809
1,080.000
223.859
109.866
7,342.760
1,413,725
Current assets
Trade and other receivables
Cash al bank and In hand
18
5.395
229,421
3.933
209.928
234,816
18051
213,861
17601
Current liabilities
19
Nel current assets
234,011
213,101
Total assets lass current liabilities
7.576,771
1.626.826
Capital funds
EndDwmenl funds - general
Income funds
General restricted funds
Revaluation reserve
80,424
71.055
215.860
7,215,989
285.598
1,231,735
7,431,849
64.498
1.517,333
38.438
Unreslricled funds
7.576,771
1,626,826
The financial statements were approved by the Trustees on 30 January 2024
Professor J H Gillespie
Trustee
Rev Dr J Coulter
Trustee
10-

ids.
PORTRUSH PRESBYTERIAN CHURCH
chartered accountants
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies
Charity information
Portrush Presbyterian Church is an unincorporated charity operating in Northern Ireland.
1.1 Accounting convention
The financial slalemenls have been prepared in accordance with the Charities Act (Northern Ireland) 2008
and "Accounting and Reporting by Charities". Sialemenl of Recommended Practice applicable lo chaiities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021. las amended for accounting periods commencing from 1 January 20161. The
Charity is a Public Benefit Enlily 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 lo prepare a Statement of Cash Flows.
The financial slalements are prepafe(l in sterling, which is the functional currency of the Charity. Monetary
amounts in these financial 51atemer)Is are rounded lo the nearest £.
The financia5 slalemenls have been prepared under the historical cost convention. modified to include the
revaluation of freehold properties and lo include investment properties and ￿rtain financial instruments al fair
value. The principal accounting policies adopted are sel out below.
1.2 Going concern
At the lime of approving the financi31 slalements. the Trustees have a reasonable expectation that the Charity
has 3dequale resources lo continue In operational existence for the foreseeable future. Thus the Trustees
continue to adopt the going concern basis of accounting in preparing the financial statements
1.3 Charitable funds
Unreslricled funds are available for use al the discretion of the Trustees In furtherance of their charitable
objectives.
Restricted lunds are subject lo specific conditions by donors as lo how they may be used. The purp)ses and
uses of the reslriGled funds are set out in the notes to the hnancial slatemenls
Endowment funds afe subject to specific conditions by donors that the capital must be maintained by the
Charity.
1.4 Incoming resources
Income is recognised when the Charity Is legally enlilled to Il after any performance conditions have been
mel, 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 Chanty has been notified
of the donation. unless performance conditions require deferral of the amount, Income lax recoverable in
relation lo donations received under Gift Aid or deeds of covenant Is recognised al the lime of the donation.
Legacie5 are recognised on receipt or otherwise 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 Irealed as a
conlingenl asset.
Assets for distribution are recognised only when distributed. Assets given for use by the Charity are
recognised when receivable. Stocks of undislribuled donated goods are not valued for balance sheet
purposes.
Revenue is measured al the fair value of the consideralion received or receivable and represents amounts
receivable for goods and services provided in the normal course of business. nel of discounts.
11

ids.
PORTRUSH PRESBYTERIAN CHURCH
chartered accountonts
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies
(Continued)
1.5 Resources expended
Liabilities are recognised as soon as there is a legal or constructive obligation cornmitling the congregation lo
pay out resources.
Governance costs are shown within charitable activities and include the costs of preparation and examination
of accounts. the costs of Iruslee meetings and cost of any legal advice lo trustees on governance or
conslitulional mattefs.
1.6 Property. plant and equipment
Property. plant and equipment are Initially rneasured al c051 and subsequently measured at cost or valuation,
nel of depreciation and any impairment losses.
Depfecialion is recognised so as lo write off the cost or valuation of assets Sess their residual values over their
useful lives on the following bases..
Freehold land and buildings
Fixtures and fittings
Computers
00/0 slraighl line
20¢A straight line
25./0 slraighl line
Land and buildings are valued al market value and are subject lo regular revaluations every 3 years and, as
such, are not depreciated.
1.7 Investment properties
Investment property, which is property held lo earn rentals andlor for capital appreciation. is initially
recognised al cost. which includes the purchase cost and any directly allribulable expenditure. Subsequently
il is measured al fair value al Ihe reportin9 end date. The surplus or deficit on revaluation 15 recognised in
profil 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 al each reporting date. Changes In fair value are recognised in nel
incomellexpenditurel for the year. Transaction costs are expensed as incurred.
1.9 Impairment of nonrycurrent assets
Al each reporting end dale, the Charity reviews the carrying amounts of Ils tangible assets to determine
whether there Is any indication that those assets have suffered an impairment loss If any such indtalion
exists. the recoverable amount of the asset is estimated in order lo determine the extent of Ihe impairment
loss lif any).
1.10 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held al call with banks. other short-term liquid
investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities,
12-

ids
PORTRUSH PRESBYTERIAN CHURCH
chartered accountants
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies
(Continued)
1.11 Financial instruments
The Charity has elected lo apply the provisions of Section 11 'Basic Financial Inslrumenls, and Section 12
'Other Financial Instruments Issues, of FRS 102 10 a51 of ils financial Inslrumenls.
Financial instruments are recognised in the Chari+y's balance sheet when the Charity becomes p8ty lo the
contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial slatemenls, when
there Is a legally enforceable right lo sei off the recognised amounts and there Is an intention to 5ellle on
nel basis or lo realise the asset and 5ellle Ihe liability 5imullaneously.
Basic financial assets
Basic financial assets, which include trade and other ieceivables and cash and bank balances, are inilially
measured al transaction priGe including Iran5aclion costs and are subsequently carried al amortised cost
using the effective interest method unless the arrangement conslitules a financing Iransaclion, where the
transaction is measured al the present value of the future receipts discounted al a market rale of Kite￿St.
Financial assets classified as receivable within one year afe not amortised.
8asi¢ Ilnan¢iTal liabllitles
Basic financial liabilities, including trade and olher payables and bank loans ale inilially recognised al
Iran5aclion price unle55 the arrangement conslitule5 a financing Iransaclion, where the debt instrument 15
measured at the present value of the future payments discounted al 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 ol
operations from suppliers. Amounts payable are classified as current liabilities if payment is due wilhin one
year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at
transaction price and subsequently measured al amortised cost using the effective interest method.
Derecognition of financlal liabilities
Financial 118bilities are derecognised when the Charity's conlraclual 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 lo make judgement5.
eslimales and assumptions about the carrying amount of assets and Iiabililies Ihal are not readily apparent
from other sources. The eslirnales and associated assumptions are based on hislorieal experience and other
factors that a￿ considered lo be relevant. Actual results may differ from these esiimales.
The eslimales and underlying assumptions are reviewed on an ongoing basis Revisions lo accounting
estimates are recognised in the period in which the estimate Is revised where the revision affects cr¢ly that
period, or In the period of the revision and future penods where the revision affects both current and future
periods.
13-

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PORTRUSH PRESBYTERIAN CHURCH
chartered accountants
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Donations and legacies
Unrestrictèd Restricted
funds
funds
Total Unrestricted Restricted
funds
funds
Total
2023
2023
2023
2022
2022
2022
Donations and gift5
Grants received
168,748
77.754
246,502
129,232
67,125
2.600
196.357
2.600
168,748
77,754
246,502
129.232
69.725
198,957
Donations and gifts
Loose Collections
Donations and gifts
Gift Aid
Legacies and beqLtest
133,142
8,140
24,791
2.675
20,061
46.843
10,765
85
153,203
54,983
35,556
2,760
109,992
18,434
38 656
9775
260
128,426
38,656
29,015
260
19.240
168,748
77,754
246.502
129,232
67,125
196,357
Grants received
EA Grant
2,600
2.600
2,600
2,600
Other trading activities
Unrestricted Restricted
funds
funds
Total Unrestricted Restricted
funds
funds
Total
2023
2023
2023
2022
2022
2022
Church events, sale of
bookslCDslDVDslchurch
magazines. and New
Beginnings shop
1,207
42.269
43,476
1,045
33,566
34,611
14

ids.
, chartered accountants
Ln CN Ln
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ids.
PORTRUSH PRESBYTERIAN CHURCH
chartered accountants
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Raising funds
Unrestricted Unrestricted
funds
funds
2023
2022
FWO envelopes
709
606
709
606
Charitable activities
2023
2022
General Assembly Assessments
Presbytery fees
Ministry and support staff costs
Congregational running expenses
Donations lo missions and charities
13,514
889
85.629
139.176
41.140
12.819
804
102.443
73.743
43.341
280,348
233, 150
Share of governance cosls {5ee note 91
4098
3.559
284.446
236.709
Analysis by fund
Unreslricled funds
Restricted funds
150.805
133,647
146,952
89.757
284.446
236,709
16-

ids.
PORTRUSH PRESBYTERIAN CHURCH
chortered accountants
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Support costs
Support Govemance
Costs
costs
2023
2022
Annual reports
Accountancy
Professional fees
Advertising, printing, slalionery and postage
Bank interest and charges
118
840
1,045
1,503
592
118
840
1,045
1,503
592
140
840
820
1.133
626
4.098
4.098
3,559
Analysed between
Charitable activities
4,098
4,098
3,559
10 Trusteos
One of the Tru51ees. the minister of the congregation received remuneration of £31,83912022". £49. 5241 and
expenses of £500 12022 £4.6371 for acting in that capacity. Pension contribution of £7,52212022. £10.7451
were paid by the congregation in respect of the minster lo the Presbyterian Church in Ireland Pension
Scheme120091. None of the other trustees re￿iVed any remuneration.
Several Trustees. and their related parties were reimbursed a total of £7.934 for expense5 paid on behalf of
the church12022. £1 ,1621.
11 Employees
The average monthly number of employees during the year was:
2023
Number
2022
Number
There were no employees whose annual remuneration was more than £60,000.
12 Other
Endowment Endowment
funds
funds
general
general
2023
2022
Endowment funds- mini51ry & support staff
Other expenditure
15
100
350
350
115
17-

ids.
PORTRUSH PRESBYTERIAN CHURCH
chartered accountants
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
13 Net gainslllossesl on investments
Restricted Endowment
fLrnds
funds
general
2023
Total Restricted Endowment
funds
funds
general
2022
Total
2023
2023
2022
2022
Revaluation of
iriveslmenls
Revaluation of
investment properties
3,842
6.101
9,943
13,8031
16.038)
19,8411
165,1621
165.1621
161,320)
6,101
155,2191
13.8031
16,0381
19,841}
14 Taxation
The charity is exempt from lax on income and gains falling within section 505 of the Taxes Act 1988 or section
252 of the Taxation of Chargeable G2ins Act 1992 to the exlenl that these are applied lo Its charitable object5.
15 Property, plant and equipment
Fre•hold land Fixtures and
and buildings
fitting$
Computers
Total
Cost
Al 1 January 2023
Revaluation
1,080.000
5,984,254
19,464
2,309
1,101,773
5.984,254
At 31 December 2023
7,064,254
19,464
2,309
7.086.027
Depreciation and impairment
At 1 January 2023
19,464
2,309
21,773
Al 31 Decernber 2023
19,464
2,309
21,773
Carrying amount
Al 31 December 2023
7,064,254
7.064.254
Al 31 December 2022
1.080,000
1,080 000
18-

ids.
PORTRUSH PRESBYTERIAN CHURCH
chartered accountants
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED>
FOR THE YEAR ENDED 31 DECEMBER 2023
15 Property, plant and equipment
(Continuedl
The property comprises the church building. church hall, church office and the rnanse. No. 14 Mark Street.
which was formerly the caretaker's house, has been rented out lo a 3rd party and re-classified as an
investment property. Market value has been determined as follows..
Building
Addres5
Church & church hall Main Street, Portrush
Church office
Main Street. Portrush
Manse
1 Corrstown Park, Portrush
Estimated Value
Source
6,009,607 R Davis & Co
727.397 R Davis & Co
327,250 R Davis & Co
R David & Co Chartered Quantity Sutveyors valued the properties in January 2024.
16 Investment property
2023
Fair value
Al 1 January 2023
Net gains or losses Ihrougtt fair value adjustments
223,859
165.1621
At 31 Deceniber 2023
158,697
The Investment property is no. 14 Mark Sireel. Portrush. 11 was previously the ChU￿h carelakerfs house. bul
was let on an arms. length basis in 2018 and was reclassified as an investment property in the year ended 31
December 2018_ The property was revalued in January 2024 by R Davis & Company.
17 Fixed asset investments
Llsted
investments
Cost or valuation
Al l January 2023
Valuation changes
109,866
9,943
Al 31 December 2023
119.809
Carrying amount
Al 31 December 2023
119.809
Al 31 December 2022
109.866
19

ids.
PORTRUSH PRESBYTERIAN CHURCH
chartered accountants
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
18 Trade and other receivables
2023
2022
Amounts falling due within one year-.
Other receivables
Prepayments and accrued income
4.835
560
3,402
531
5,395
3.933
19 Current liabilities
2023
2022
Other laxalion and social security
Accruals and deferred income
305
500
260
500
805
760
20 Retirement benefit schemes
The minister of the congregation Is a member of the Presbyterian Church in Ireland Pension Scheme120091.
This Is a scheme operated by the Presbyterian Church in Ireland, a separate registered charity. The
congregation pays an assessment lo the Presbyterian Church in IreSand equivalent lo the employerfs Fension
contribution for the Scheme and based on the stipend paid to the minister, The Presbyterian Church in Ireland
Pension Scheme 120091 is a funded Scheme of the defined beneFIl 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 Iruslees. The Presbyterian Church and the Scheme Trustees have agreed a funding plan lo
ensure the Scheme is sufficiently funded lo 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 24010 ol pensionable salaries lo cover the accrual of benefits for future
service, expenses. the cost of Insuring death in se￿sCe benefits and funding the scheme deficit.
The contributions made by the congregation during the year were..
2023
2022
Contributions
7.522
10.745
The congregation operates a defined pension contribution policy for ils employees. The scheme and its
assets are held by an Independent scheme manager. The pension charge represents the contributions
due from the congregation durin9 the year..
2023
2022
Contributions
1,440
1,440
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