UPPER CUMBER CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payment Account) for the year ended 31 December 2023 Note Unrestricted Restrirted Endowment Funds Fund5 Funds Total 2023 Total 2022 Receipts Donations and legacies Charitable activities Investment Income 38,985 1,840 1,270 49,336 17,833 4,121 88,321 59,719 19,673 5,824 5,391 905 42,095 71,290 0 113,385 66,448 Sale of Investments Sale of fixed assets Loans Received Total Receipts 42,095 71,290 0 113,385 66,448 Payments Raising funds Charitable activities 495 16,645 17,140 495 517 33,426 35,770 33,921 36,287 16,781 16,781 Purchase of Investments Purchase of fixed assets Loan Repayments 2,627 2,627 Total Payments 17,140 19,408 36,548 36,287 Net receipts / {payments) Transfers between funds 24,955 (3,574) 51,882 3,574 76,837 30,161 Net movement in funds Funds brought forward 21,381 18,375 55,456 200,081 76,837 30,161 47,675 266,131 235,970 Funds carried forward 255 537 47675 342968 266131 li UPPER CUMBER CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF ASSETS AND LIABILITIES A5 at 31 December 2023 Note Unrestricted Restricted Endowment Fund5 Funds Fund5 Total 2023 Total 2022 Funds Reconciliation Bank & cash at start of year Net movement in funds 18,375 21,381 200,081 55,636 47,675 266,131 235,970 76,837 30,161 Bank & cash at end of year 255 717 47675 342968 266131 Bank and Cash Balances Bank Deposit Accounts Bank Current Accounts Building Society deposits Cash in Hand 4,012 3,962 193,024 115,662 145,675 145,675 257 832 342 968 266 131 Other Assets Fixed Assets Investments Gift Aid receivable on donations 11,100 8,500 Liabilities Loans Approved by the Kirk Session at a meeting on 12th March 2024 and signed on its behalf by Olive Witherow Trustee John McFarland Clerk of Session 12 UPPER CUMBER CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2023 I. ACCOUNTING POLICIES BASIS OF FINANCIAL STATEMENTS As the total income of the congregation is less than £250,000 the congregation has 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 ba lance basi5. 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. DONATIONS AND LEGACIES Restrirted Endowment Total Total Note Unrestrirted Funds Funds Funds 2023 2022 Recorded giving Loose collections Donations & gifts Gift Aid Legacie5 & bequests 31,847 526 6.975 38,822 526 1,030 7,943 40,000 88,321 34,876 627 16,137 8,079 1.030 1.331 40,000 49,336 6,612 38,985 59,719 13 UPPER CUMBER CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (continued) 31 December 2023 Unrestricted Restricted Endowment Totsl Totsl Funds Funds Funds 2023 2022 3. CHARITABLE ACTIVITIES Weddings & funerals Fundraising events Memberships Grants 640 8,950 1,028 7,855 17,833 9,590 1,028 9.055 19,673 601 5,223 5,824 1,200 1,840 4. INVESTMENT INCOME Bank interest Investment interest 525 745 1,270 3,232 889 4.121 3,757 1,634 5,391 632 373 1,005 5. RAISING FUNDS FWO envelopes 495 495 517 6. CHARITABLE ACTIVITIES General Assembly Assessments Presbytery fees Ministry & support staff Congregational running expenses Donations to Missions etc Governance costs 2,818 415 3,250 10,162 2,818 415 3,250 21,464 5,479 2,898 423 3,478 24,661 4,310 11,302 5.479 16,645 16,781 33,426 35,770 7. FIXED ASSETS The congregation owns the Church premises and Lecture Hall at IS and 17 Cregg Road. Claudy, Londonderry BT47 4HX and a half share of a manse at 342 Glenshane Road. Claudy, BT47 4HP for the minister and the associated fixtures. fittings and equipment. These have an insurance value of £2,612,000. 8. INVESTMENTS All funds from endowments, memorials and cash not required for short term objects are invested in deposit accounts with the Progressive Building Society. 14 UPPER CUMBER CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (continued) 31 December 2023 9. FUND BALANCES Fund Balance at start Receipts Payments Transfers Balance at end Unrestrlcted Funds General Fund 18,375 42,095 17,140 -3,574 39,756 Restrirted Funds Missions and Charities Building Fund Repair Fund Sunday School Choir Fund Presbyterian Women Bowling Club Youth Council 4,299 53,420 1,955 160 5,014 715 193,471 i(K) io 348 355 32 5,765 200.081 246,891 loo io 285 809 325 7,117 255,537 5,705 869 70 411 337 8,337 20,743 3,750 709 865 1,630 10.289 72,625 -1,000 -600 3,574 Endowment Funds Bequests and memorials 47.675 47,675 Total 266,131 114.720 37,883 342,968 15