FAUGHANVALE 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 | Total | Total | |
|---|---|---|---|---|---|---|
| Funds | Funds | Funds | 2023 | 2022 | ||
| £ | £ | £ | £ | £ | ||
| Receipts | ||||||
| Regular Direct Giving | 2 | 79,651 | 25,629 | 105,280 | 84,268 | |
| Donations & Legacies | 3 | 2,065 | 1,000 | 3,065 | 6,114 | |
| Activities that generate | 4 | 37,076 | 37,076 | 27,943 | ||
| Income | ||||||
| Investment Income | 5 | 1,917 | - | 1,917 | 87 | |
| Other | 6 | 2,250 | 887 | 3,137 | 1,620 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Sale of Investments | ||||||
| Sale of fixed assets | ||||||
| Loans Received | ||||||
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Total Receipts | 85,883 | 64,592 | 150,475 | 120,026 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Payments | ||||||
| Raising funds | 7 | 22,266 | 22,266 | 24,532 | ||
| Charitable activities | 8 | 90,903 | 44,081 | 134,984 | 106,812 | |
| Investment costs | ||||||
| Church Organisations | 9 | 8,192 | 8,192 | 7,097 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Purchase of Investments | ||||||
| Purchase of fixed assets | ||||||
| Loan Repayments | ||||||
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Total Payments | 113,169 | 52,273 | 165,442 | 138,441 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Net receipts / (payments) | (27,286) | 12,319 | (14,967) | (18,409) | ||
| Transfers between funds | (1,889) | (1,889) | 22,702 | |||
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Net movement in funds | (29,175) | 12,319 | (16,856) | 4293) | ||
| Funds brought forward | 18,254 | 45,504 | 60,758 | 45,250 | ||
| ---------- | --------- | ---------- | ---------- | ---------- | ||
| Funds carried forward | 12 | (10,921) | 54,823 | 43,902 | 49,543 | |
| ====== | ====== | ====== | ====== | ====== |
FAUGHANVALE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF ASSETS AND LIABILITIES As at 31 December 2023
| As at 31 December 2023 | |||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | Total | |
| Funds | Funds | Funds | Funds | Funds | |
| 2023 | 2022 | ||||
| £ | £ | £ | £ | £ | |
| Funds Reconciliation | |||||
| Bank and Cash at start of year | 18,254 | 42,504 | 60,758 | 45,250 | |
| Net movement in funds | (29,175) | 12,319 | (16,856) | 4,293 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| Bank and Cash at end of year | (10,921) | 54,823 | 43,902 | 49,543 | |
| ======- | ======= | ======= | ======= | ======= | |
| Bank & Cash Balances | |||||
| Bank Deposit Accounts | |||||
| Bank Current Accounts | 43,137 | 49,204 | |||
| Cash in Hand | 765 | ||||
| ---------- | ---------- | ||||
| 21,234 | 17,156 | ||||
| ======= | ======= | ||||
| Other Assets | |||||
| Fixed Assets – Note 10 | |||||
| - Church Premises |
4,400,000 | 4,400,000 | |||
| - Land |
60,000 | 60,000 | |||
| - Bond |
35,489 | 33,600 | |||
| ---------- | ---------- | ||||
| ======= | ======= | ||||
| Liabilities | |||||
| Loans | |||||
| Enter details of any other | |||||
| liabilities | |||||
| Other | |||||
| ---------- | ---------- | ||||
| 4,539,391 | 4,543,143 | ||||
| ======= | ======= | ||||
| Approved by the Kirk Session on 1 October 2024 and | signed on its | behalf by | |||
| Donald Montgomery | Samuel Cochrane |
FAUGHANVALE 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 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 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. REGULAR DIRECT GIVING
| Unrestricted | Restricted | Endowment | Total | Total 2022 | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2023 | ||
| £ | £ | £ | £ | £ | |
| Recorded giving: | 63,063 | 20,174 | 83,237 | 73,621 | |
| Loose collections | 822 | - | 822 | 2,125 | |
| Gift Aid | 15,766 | 5,455 | 21,221 | 8,522 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 79,651 | 25,629 | 105,280 | 84,268 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- |
FAUGHANVALE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2023
3. DONATIONS AND LEGACIES
| Unrestricted | Restricted | Endowment | Total 2023 | Total 2022 | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | |||
| £ | £ | £ | £ | £ | |
| Donations and Gifts | 1,765 | 1,000 | - | 2,765 | 5,139 |
| Gift Aid on gifts | - | 675 | |||
| Donations from Cong. Orgs. | 300 | - | 300 | 300 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 2,065 | 1,000 | - | 3,065 | 6,114 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 4. ACTIVITIES THAT GENERATE INCOME | |||||
| Unrestricted | Restricted | Endowment | Total 2023 | Total 2022 | |
| Funds | Funds | Funds | |||
| £ | £ | £ | £ | £ | |
| Income for Agencies | - | 22,266 | - | 22,266 | 19,452 |
| Fund Raising Events | - | - | - | - | |
| Grave Lettings | - | 1,304 | - | 1,304 | 400 |
| Church Organisations | - | 13,506 | - | 13,506 | 4,995 |
| 3,096 | |||||
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| - | 37,076 | - | 37,076 | 27,943 | |
| ---------- | ---------- | ---------- | ---------- | ---------- |
5. INVESTMENT INCOME
| Unrestricted | Restricted | Endowment | Total 2023 | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2022 | ||
| £ | £ | £ | £ | £ | |
| Deposit interest | 28 | - | - | 28 | 87 |
| Other investment income | 1,889 | - | - | 1,889 | |
| Return of Investments | - | - | - | - | - |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 1,917 | - | - | 1,917 | 87 | |
| ---------- | ---------- | ---------- | ---------- | ---------- |
FAUGHANVALE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d) 31 December 2023
6. OTHER INCOME SOURCES
| Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| Youth Grant | - | - | - | - | |
| Rental income | 1,410 | - | - | 1,410 | 1,620 |
| Misc. Income | - | - | - | - | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 1,410 | - | - | 1,410 | 1,620 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 7. RAISING FUNDS | |||||
| Unrestricted | Restricted | Endowment | Total 2023 | Total 2022 | |
| Funds | Funds | Funds | |||
| £ | £ | £ | £ | £ | |
| Fundraising events | |||||
| Children’s Society | 1,162 | 1,162 | 1,500 | ||
| Christian Aid | 1,538 | - | 1,538 | 1,400 | |
| Poppy Appeal | 296 | - | 296 | 425 | |
| Kenyan Mission | 1,985 | 1,985 | 2,300 | ||
| Roe Valley Food Bank | 295 | - | 295 | 678 | |
| United Appeal | 7,711 | - | 7,711 | 8,500 | |
| World Development Appeal | 2,700 | - | 2,700 | 3,092 | |
| Turkish Earthquake Appeal | 2,990 | - | 2,990 | 1,750 | |
| Ukraine Appeal | - | 3,950 | |||
| CEF | 111 | 111 | |||
| Scripture Union | 111 | - | 111 | ||
| Gift Aid | 3,367 | 3,367 | |||
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 22,266 | - | 22,266 | 24,532 | ||
| ---------- | ---------- | ---------- | ---------- |
8. CHARITABLE ACTIVITIES
| Unrestricted | Restricted | Endowment | Total 2023 | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2022 | ||
| £ | £ | £ | £ | £ | |
| General Assembly Assessments | 15,954 | 15,954 | 8,024 | ||
| Minister | 49,160 | 49,160 | 53,790 | ||
| Ministry and Support Staff Costs | 2,140 | 2,140 | 10,962 | ||
| Worship & Fellowship | 4,420 | 4,420 | 2,470 | ||
| Mission & Outreach | 844 | 844 | 9,242 | ||
| Governance | 1,288 | 1,288 | 1,346 | ||
| Utilities | 10,607 | 10,607 | 7,921 | ||
| Repairs and Maintenance | 44,081 | 44,081 | 9,003 | ||
| 1,172 | 1,172 | ||||
| Other | |||||
| Insurance Costs | 5,318 | 5,318 | 4,054 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 90,903 | 44,081 | 134,984 | 106,812 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 9. OTHER EXPENDITURE | |||||
| Unrestricted | Restricted | Endowment | Total 2023 | Total | |
| Funds | Funds | Funds | 2022 | ||
| £ | £ | £ | £ | £ | |
| Church Organizations | 8,192 | 8,192 | 7,097 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| ---------- | ---------- | ---------- | ---------- | ---------- |
10. FIXED ASSETS
The congregation owns the Church premises situated at Killylane Road, Eglinton and the associated fixtures, fittings, plant and machinery. These have an insurance value of £4.4m.
INVESTMENTS
The congregation has the following investments. Amounts are shown at market valuation.
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| General Investment Fund | ||
| Property | 60,000 | 60,000 |
| Other investments | 35,489 | 33,600 |
| ---------- | ---------- | |
| 95,489 | 93,600 | |
| ---------- |
11. FUND BALANCES
| Fund | Balance | Receipts | Payment | Surplus / | Transfer | Balance |
|---|---|---|---|---|---|---|
| at start | (Deficit) | at end | ||||
| £ | £ | £ | £ | £ | £ | |
| Unrestricted Funds | ||||||
| General Fund | 18,254 | 83,171 | (90,604) | (7,433) | - | 10,821 |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| 18,254 | 83,171 | (90,604) | (7,433) | - | 10,821 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| Restricted Funds | ||||||
| Maintenance Fund | 15,856 | 27,891 | (44,080) | (16,189) | - | (333) |
| Youth Worker Fund | 7,038 | 1,751 | (300) | 1,452 | - | 8,489 |
| Church Organisations | 19,610 | 13,506 | (8,192) | 5,314 | - | 24,924 |
| Agency Fund | 22,266 | (22,266) | - | |||
| 630 | ||||||
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| 8,016 | 47,645 | 42,844 | 4,801 | - | 12,817 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| ---------- | ----------- | ----------- | ----------- | ----------- | ---------- | |
| Total | 60,758 | 148,586 | (165,442) | (16,856) | - | 43,903 |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- |