Charity registration number NIC105641 FIRST DERRY PRESBYfERIAN CHURCH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 FIRST DERRY PRESBYTERIAN CHURCH CONTENTS Page Charity Information Trustees, report Statemenl of trustees, responsibilities 10 Independent auditorfs report Slatement of financi81 activities 13-14 Balance sheet 15 Not8S to the financial statements 16-29 FIRST DERRY PRESBYTERIAN CHURCH LEGAL AND ADMINISTRATIVE INFORMATION Charity Information First Derry Presbyterian Church is situated in Upper Magazine Street in Londondery. The correspondence address is Church Office. Magazine Street Upper. Londonderry, BT48 6PH. The Church is registered with the Charity Commissioner for Northem Ireland - NIC105641 Auditor Moore {Nl) LLP 21123 Clarendon Street Londondery BT48 7EP Bankers Danske Bank Donegall Square West Belfast BT1 6JS Danske Bank Donegall Square West Belfast PO BOX 183 Sollcitor5 Babingtons 9 Limavady Road Londondery BT47 6JU FIRST DERRY PRESBYTERIAN CHURCH LEGAL AND ADMINISTRATIVE INFORMATION The members of Session and Congregational Committee are as follows: Moderator Reverend Dr Robert Buick Reverend Colin Jones {retired 24 March 2022) (appointed 25 March 2022} Clerk of Session MrWJKyle Session Members Mr J M Agnew Mrs L Dickey Mrs S Dingley Mr W Hamilton DrDRLee Mr R Mackey Mr C Mccandless Mr A Mccartney Mrs L Hamilton Mrs L Mcmonigle (Emeritus) Mrs S Skeggs (Emeritus) Mr G Patterson rJReid Mr R Reid (Emeritus) Mrs D Simpson Mr C Tennis Mrs J Tennis Dr M Parker Mr C Wilson Congregational Committee Mr D Colhoun Mr R Dunseith Miss R Tennis Ms S Spence Mr D Hill Mr D Logue Mr R Mccloy Mrs l McGregor Mr D McKane Mr S McLorn Mr C Peoples Mrs E Priestley Mr H Steele Mrs C Wilson Mr R Black Mrs S Thomas Mr J Cowan Free Wlll Offering Convenor Mr D Hill Treasurer Ms S Spence FIRST DERRY PRESBYTERIAN CHURCH TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 The trustees preserrt 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 finan¢i21 and comply with the Church's constitution, 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 Stsndar(l applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)" Objectives and activitles First Dery Presbyterian Church is a congregation of the Presbyterian Church in IreEand (PCI). 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 to our world. The principal function of the Church is to support the advancement of religion through holding seTvices of worship and other religious activities. These. and all that follow. are open to anyone of appropriate age and gender to access, without regard to whether they are members of the Church's congregation. This is fundamentsl to the practical delivery of the benefits of Christianity. First Derry Presbyterian Church has a unique location on the Walls of the Clty with our parish area includlng the City of DerrylLondondery and beyond. Demographic changes on the Cityside durfng the 'troubles' and beyond have greauy affected Church populations and at First Derry Presbyterian Church we have been compelled to find new ways to reach out to our local area, Our congregatlon seeks to fulfil the commission of 'Salt and Light. to our communlty through belng a welcoming presence on the Cty Walls with our doors open to all. The congregation met for worship every Sunday and visitors. irrespective of race, rellgion or gender, are welcome to join. Worship is shared with Monreagh Presbyterian Church. The Sacrament of the Lord's Supper was observ8d Iwice during 2022, in the Spring and the Autumn. The congregation has a wide range of organisations including: Sunday School Creche during Sunday worship Men's Club Presbyterian Women Pantry Project (Food Bank) The congregation is actively involved in this project working across all communities providing crisis intervention to those experiencing food povety. The ethos behind Ihis project is community giving back to community. Cuppa Sunday On the first Sunday of each month, prior to Moming Worship we meet in the Church hall for friendship and refreshments. This has proved very popular and many of the congregation come eady to avail of this facility. The trustees have paid due regard to guidance issued by the Charity Commisston in deciding what activities the Church should undertake. FIRST DERRY PRESBYTERIAN CHURCH TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Achlevements and perfomiance Worship and prayer Worship each Sunday was conducted by The Rev Colin Jones after his installation on 25th March 2022. Previously worship was conducted by The Rev Dr Robert Buick. Convenor until the appointment of Rev Colin Jones, visiting ministers and Accredited Preachers (including Mrs Susan Thomas, one of the Church's members). During the year 1 Sacrament of Baptism was carried out. At 31 December 2022 there were 427 members on the communion foll with 270 of famili8s under the pastor81 care of the congregation. The average weekly attendance at morning worship was 90. Pastoral care Members of the congregation who are unable to attend Church due to sickness or age are visited on a regular basis by one of the Elders. A recording of each service is undertaken and the CD'S are available to Church members on request. The Elders visit each memberlfamily in their district prior to each communion service and visit members who are unwell or unable to attend Church either in their home or in hospital. Misslon and outr•ach Mlsslon Statèmant Fitst Derry, the oldest Presbyterian Church in Northem Ireland's second city, is in the community for the community. Fulfilllng thls Mlssion At a local level the congregation aims to fulfil its mission by-. demonstrating God's love and taking the Gospel message to all our neighbours. establishing and building connections of friendship with other denominations. sharlng our beautifully restored Church building as a shared sacred and Civic space and to this end we host many events, both for and by the local community, ranging froTn local seNices to historians, talks. encouraging our members lo deep8n their underslanding of the Gospel and commitment to Christ through the weekly worship service with the semion being the main source of this encouragement. members of all ages are considered vitsl by the Kirk Session and are encouraged to take part in worship through singing in our choir, playing a musical instrument, reading a lesson, delivering the children's address and taking part in presentations. Informing our members about mission within PCI through updates from the pulpit, an Annual PW Sèrvice, the quarterly United Appeal leaflets and the Presbyterian Herald and Wider Wortd magazines. enthusing and equipping our members for mission through the weekly Sunday worship service where we are encouraged to apply scripture to everyday living and interact with respect and love in our homes and places of study, work and recreation. Additionally, we are equipped for and participate in mission through various activities such as PW and Men's Club. Our young people receive preparation for mission through the work done by the dedicated leaders in the Sunday School and Bible Class. having a welcoming presence on the City Walls with our doors open to all. Since reopening tho Church in 2011 after 9 years of displacement due to dry rot there has been great interest in our story from across the city and beyond. The Blue Coat School Heritage Centre is 51tualed to the rear of th8 Church building. It offers a unique insight into the story of Presbyterianism in the North West. Volunteer guides tske visitors around both the Church and the Blue Coal Heritage Centre giving them the history of First Derry Church from the founding of the original Church in 1690 until the present day. The congregation supports the Llnited Appeal for Mission which is a central fund of the Presbyterian Church in Ireland. This fund enables congregations to support the wider mission of the denomination and to do mission and outreach on a denominational basis beyond whal the congregation could do on its own. The United Appeal Fund provides financial support for mission personnel at home and overseas, 855lSts 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 the congregation in the areas of worship, discipleship, global rnission, outreach, leadership and pastoral care. FIRST DERRY PRESBYTERIAN CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Presbytery The congregation was represented at the meetings of Presbytery by our Minister andlor one of the Elders. This provides an important link between the congregation and the wider structures of the Church. General Assembly The Minister and one of our Elders were nomlnated to attend the annual meeting of the General Assembly of the Presbyterian Church in Ireland, held in Assembly Buildings, Belfast, in June 2022. Property The House and Propety Committee ar8 responsible for the upkeep of the Church and Manse. In July 2015 as a result of a fire at a nearby store. large stained glass windows above the pulpit were slightly deformed. The damage is relatively minor and the Committee are still C￿nsIderIng the best way forward. Organisations The PW group under the title. First Dery Ladies were delighted to reopen In 2022 after a long closure due to Covid 19. We held ourAnnual Ladies Service on 61h March. The service was taken by Joy Tennis, Leader. Ladies contributed to an inspirational service through readings and prayers with the singing led by our ladies, choir. We were delighted to welcome Rachel Miller as our guest speaker. Monthly meetings were reintroduced in March and April before the summer break. Meets'ngs continued monthly from September, we were encouraged with attendances at the monthly meetings and were pleased to welcome some new faces. Following the Annual Harvest in October, we held a haNest lunch for members of the congregation. Our ladies, group spearheaded a Christmas Toy and Gift Appeal for our local Salvation Army which was generously supported by members of the congregation and a significant amount of gifts and cash was donated, These were handed over to representatives from the Londonderry Citsdel at a moming service in December. Due to Covid the Men's Club did not meet in 2022- They look forward to re commencing meetings in First Derry Church in January 2023 when everyone will be made most welcome. Our Sunday School meets every Sunday during our Church service. We have 3 classes which comprises of P1- 4, P5-7 and post primary Bible class. We were all delighted to have our new minister Reveren¢J Colin Jones in place for our children's day service in June with our children and young people showing their talents. The theme was "Question time with the kids" with the children asking the Reverend Jones questions about himself allowing them to get know him better. The children thoroughly enjoyed their Sunday School party at Extreme Bounce. On 18th December they took part in the Family Christmas service induding several beautrful poems, solos, and a Christmas treasure hunt. With the ts18nt on show we look forward to a bigger and brighter New Year. Volunteers The Trustees of First Dery Presbyterian Church wish to acknowledge their deep appreciation of those who give freely of their time by seNing on committees and helping with organisations and other Church activities including Sunday School Teachers, Creche SupeNisors and Youth Leaders. FIRST DERRY PRESBYTERIAN CHURCH TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Publlc Beneflt The Presbyterian Church in Ireland meets the PLbblic benefit requirement by providing benefit to its members and thè general public by making known the Christian Gospel of th8 Lord Jesus Christ through the advanc8m&nt of religion. The direct benefits which ftow 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 opporttjnilies for response lo Bible teaching. In tum, this framework leads to practical expressions of Christian beliefs and standards in the local communty 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 deliver8d c8ntrally. Local delivery is facilitsted by central resources in almost all cases. Public access is made known through the use of nots'ceboards, prlnted materlal, press adv8rtlsement, websites and social media or in other ways. The benefits are dernonslrated through regular evaluation of the services and infomal and ad-hoc feedback from members, their families, and members of the public. The purpose does not lead lo harm. The only prlvate benefit flowlng from our purpose Is related to Mlnisters, Mlssionaries, Deaconesses, Irish Mission workers and Lay Agents who r8ceive benefits as a result of their holding office or employmer)t. However, this is incidental 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 individLtals that the Presbyterian Churth in Ireland is in direct and indirect contact with, the community in whSch pastoral 5ervlces are provided and other communities throughout Northern Ireland, the Republic of Ireland, and worldwide whlch benefit from our engagement with and support for both Christian and other secular organisations. charities and individual members of the public. The Kirk Session has had regard lo the Charity Commission's public benefit requirement statutory guidance. Flnan¢lal revlew The congregation's main source of income is members. contributions through the Weekly Freewill Offering. There were 138 families contributing during the year12021 118) donating a tol81 of £69,660 {2021 £65,106), (nole 3>, Total income of the congregation during the year was £89,016, 8 slight increase to the previous year Income of £85,905. Total expenditure increased from £105,174 in 2021 to £147,503 in 2022. This was mainly due to additlonal assessment fees payable in relation lo the new Minister. It is the policy of the Church that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to be￿een three and six month's expenditure. The Iruslees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Church's currenl activities while consideration is given lo ways in which additional funds rnay be raised. This level of reserves has been maintained throughout the year. Going Concern The trustees understand and appreciate the importance of contributions from members of the congregation to ensure the smooth running of the Church. The twstees believe that the congregation has sufficiènt resources to meet any commitments that will arise in the 12 months from the dale of signing this Report. The trustees also appreciate that for this healthy financial siluation to continue the Church will depend on the continuing support from members of the congregation through their contributions. FIRST DERRY PRESBYTERIAN CHURCH TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Risk Review Risks are continually reviewed by the trustees and systems and procedures implemented where required to manage any identified risks. The principal risks are in relation to the likelihood of reputstional damage and financial risks 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 stated meetings and by encouraging members in their ￿gUlar giving. FIRST DERRY PRESBYTERIAN CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Structure, governanc• and management The Kirk Session The charity trustees of the Gongregation are the members of the Kirk Session. Under the congregation's governing document, The Code, the book of the constitution and government of the Presbyterian Church in Ireland. the Kirk Session seaks 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 ènsures pasloral care is in place in th8 congregation and seeks to further the contribution of the Church to Christian witness and service in the local community. The Kirk Session has delegaled to its Congregational Committee the temporal affairs of the congregation including administering all funds and property belonging to the congregation. Members of the Kirk Session are exwofficio members of the Congregational Committee. The Kirk Session consists of the ordained Minister and the ruling Elders of the congregation. All members are entitled lo propose, speak and exercise equal votes at meetings, except the Moderalor and the Ministers in active duty in the congregation who have no deliberative but only a casting vote. Stated meetings of the Kirk Session are held at least twice 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 ordinances. The selection of those proposed to be called to the office can be either by the congregation or by thè Kirk Session. Members are elècted if they obtain approval from ￿0-thirdS of those who vote. On 25th March 2022 Reverend Colln Jones was installed as the new Minlster of First Derry and Monreagh. Presbytery Under the Presbyteri8n Church in Ireland fomi of governance, the corporate oversight of a congregation Is th8 responsibility of a Presbylery which superintends generally the spiritual and temporal affairs of the congregation assigned to It by the General Assembly of the Presbyterian Church in Ireland. First Derry Presbyterlan Church has been assigned to the Derry and Donegal Presbytery of Ihe Presbyterian Church in Ireland. The membershlp of the Presbytery consists mainly of the active ministers of congregalions assigned to it by the General Assembly, ministers who have retired from active duty and an elder appointed by the Kirk 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, administrats'on and Judicial authority, in dealing with all matters brought before it. The General Assembly is normally constituted during the first week 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 representativ8 Elder appointed by the Kirk Session of each congregation. FIRST DERRY PRESBYfERIAN CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 The trustees who served during the year arKI up to the date of signature of the finanaal statements were." Mr J M Agnew Mrs L Dickey Mrs S Dingley Mr W Hamilton MrWJKyle DrDRLee Mr R Little Mr R Mackey Mr C Mccandless MrA Mccartney Mr G Patterson MrJ Reid Mrs D Simpson Mr C Tennis Mrs J Tennis Dr M Parker Mr C Wilson Mrs L Hamilton (Deceased 25 June 2022) Twstees who are also Session Members are elected and appointed by the congregation. The trustees, report was approved by the Board of Tnjstees. MrWJKyle Trustee Dated: 31 July 2023 FIRST DERRY PRESBYTERIAN CHURCH STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2022 The truslees are responsible for preparing the Trust&es' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepled Accounting Practice). The law applicable lo charities in Northern Ireland requires the trustees to prepare financial statements for each financial year which give a true and fair view Df the state of affairs of the Church and of the Incoming resources and application of resources of the Church for that year. In preparing these fin8ncial statements, the trustees are required to: select suitable accounting policies and Ihen apply them consistently: observe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent. slate whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in operatlon. The trustees are responsible for keeping sufficlent accounting records that disclose with reasonable accuracy at any time the financial position of the Church and enable them to ensure that the fin8ncial statements comply with the CharitSes Act (Northern Ireland) 2008. the Charity (Accounts and Reports) Regulations (Northern Ireland) 2008 and the provlsions of the trust deed. They ar8 also responsible for safeguarding the assets of the Church and hence for taking r8asonable steps for the prevention and detectlon of fraud and other irregularities. 10- FIRST DERRY PRESBYfERIAN CHURCH INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF FIRST DERRY PRESBYfERIAN CHURCH Opinion We have audited the financial statements of First Dery Presbyterian Church (the 'Church') for the year ended 31 December 2022 which comprise the staternent of financial activities, the balance sheet and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Stsndard 102 The Financial Reporting Standard applicable in the UK and Republic of I￿land (United Kingdom GenerallyAccepted Accounting Practice). In our opinion. the financial statements: give a true and fair view of the stste of the Church's affairs as at 31 December 2022 and of its incomlng resources and application of resources, for the year then ended., have been propedy prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Charities Act (Northem Ireland) 2008. Bas1$ for opinion We conducted our audlt in accordance with Intemational Standards on Auditing (UK) (ISAS (UKI) and applicable law. Our responsibilities under those stsndards are further described in the Auditorfs responsibilities for th8 8udlt of the financial statements section of our report. We are independent of the Church in accordance wilh the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Elhical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to golng concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perforned. we have not identified any materlal uncertainties relating to events or conditions that, individually or collectively, may casl significant doubt on the Church's ability to continue as a going concem for a period of at least Iwelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees wtth respect to goin9 concem are described in the relevant sections of this report. Other Information The other information comprises the infomation includecl in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained wthin the annual report. Our opinion on the financial statements does not cover the other infomiation and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other infonnation and, in doing so, consider whether the other infomation is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otheTwise appears to be materially misstated. If we identify such material inconsistencies or apparènt material misststements, we are required to determine whether this gives rise to a material misststement in the financial statements themselves. If, based on the work we have perfom)ed. we conclude that there is a material misststement of this other information, we are required to report that fact. We have nothing to report in this regard. Matter5 on which we are required to report by exception We have nothing to report in respect of the followng matters in relation to which the Charities (Accounts and Reports) Regulations (Northem Ireland) 2015 require us to report to you rf, in our opinion.. the information given in the financial ststements is inconsistent in any material respect with the trustees, report. or sufficient accounting records have not been kept: or the financial ststements are not in agreement with the accounting records. or we have not received all the information and explanations we require for our audit. 11 FIRST DERRY PRESBYTERIAN CHURCH INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF FIRST DERRY PRESBYTERIAN CHURCH Responslbilities of trustees As explained more fully in the statement of trustees. responsibilities. the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Iruslees determine is necessary to enable the preparation of financial statements that are free from material misstalement, whether due to fraud or error. In preparing the financial statements, the trustees ar8 responsible for assessing Ihe Church's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic altemative but to do so. Audltor's responslbllities for the audit of the financlal statements We have been appointed as auditors under section 65(2) of the Charilies Act (Northern Ireland} 2008 and report in accordance with the Act and relevant regulations made or having effecl Ihereunder. Our objectives are to obtain r8asonable assurance about whelher the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to ISSU8 an auditorfs report that inclijdes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS {UKI will always detect a material misstatement when it exists. Misslatements can arise from fraud or error and are Considered material if, individu811y or in the aggregate, they could reasonably be expected to influence Ihe economic decisions of users taken on the basis of these financial slatements. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. A further description of our responsibilities is available on the Flnancial Reporting Council's website at.. https'.11 w.frc.org.uklaudilorsresponsibilities. This description fomis part of our auditoes report. Thls report is made solely to the church's trustees. as a body. in accordance with part 4 of the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015. Our audil work has been undertaken so that we might state to the church's trustees those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest 8Xtent permitted by law, we do not accept or assume responsibility to anyone olher than the charity and the church's trustees as a body, for our audit work. for this report, or for the opinions we have formed. Moore INI) L 31 July 2023 Chart red Accountants Statutory Audltor 21123 Clarendon Street DerrylLondondery BT48 7EP 12- OU) fo )uJ*- tn a) o) ¢0 co (o o CY (D *t VaJVJ ro FIRST DERRY PRESBYTERIAN CHURCH BALANCE SHEET AS AT 31 DECEMBER 2022 2022 2021 Notes Fixed assets Tangible assets Investments 14 15 2.294,728 773,049 2,314,301 840,353 3,067,T17 3,154,654 Current assets Debtors Cash at bank and in hand 16 19,928 18,425 17,782 73,511 38,353 91.293 Creditors: amounts falllng due withln one year 17 (26,498) (40,522) Net current assets 11,855 50,771 Total assets less current liabilltles 3,079,632 3,205,425 Capital funds Endowment funds - general Income funds Restricted funds Unrestricted funds - designated General unrestricted funds 18 96,344 103,732 19 758,614 1,383,649 841,025 787,721 1.406,661 907.311 3,079,632 3,205,425 The financial ststements were approved by the Trustees on 31 July 2023 MrWJKyle Trustee 15- FIRST DERRY PRESBYTERIAN CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policles Charity Inforrnatlon Flrst Derry Presbyterian Church is an unincorporated entity governed by a Constttution. 1.1 Accountlng conventlon The financial statements have been prepared in accordance with the Church's governing document, the Charities Act 2011 and 'Accounting and Reporting by Charilies- Ststement of Recommended Practice applicable to charities preparing Iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" {as amended for accounting periods commencing from 1 January 2016). The Church is a Public Benefil Entity as defined by FRS 102. The Church has taken advantage of the provisions in the SORP for charitles applying FRS 102 Update Bulletin 1 not to prepare a Slatement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the Church, Monetary amounts in these financial statements are rounded to th8 nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are sel out below. 1.2 Golng concem At the time of approving the financial statements, the trustèes have a reasonable expectation that the Church has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of 8ccounting in preparing the financial stalements. 1.3 Charltable funds Unrestricted funds are income funds which are to b8 spenl on the congregation's general purposes. Designated funds are general funds sel aside by the congregation for u88 in the future. Restricted funds are subject to specific ￿ndItionS by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are funds, the capital ofwhich must be retained either permanently or al Ihe congregation's dis¢retion,' the income derived from the endowment is to be used either as restricted or unr8strict8d income funds depending upon the purpose for which the endowment was established in the first place. 1.4 Income Income is recognised when the Church 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 Church has been notified of the donation. unless performance uJnditlDns require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or d&&ds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the Church has been notified of an impending distributlon, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Grants of a capital nature are credited to Designated Funds on receipt and released at rates equivalent to depreciation on assets to which they relate. Grants towards revenue expenditure are recognised on receipt. Investment income is recognised in the accounts when received. 16- FIRST DERRY PRESBYTERIAN CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policies (Continued) 1.5 Expenditure Liabilities are recognised as soon as there is a legal or constructive obligation committing the congregation to pay out resources. Govemance costs are shown within charitable activities and indude costs of preparation and examination of accounts, the Gosts of trustee meetings and cost of any legal advice to trustee5 on govemance or constitutional matters. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and SUbsequen￿Y rneasured 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 useful lives on the following bases: Freeholcl land and buildings Fixtures and fittings Blue Coat School Vlsitor Centre 0% & 5% straight line Ooh & 20 /0 Straight line 5% straight line The gain or loss arising on the disposal of an asset is determined as the difference be￿een the sale proceeds and the carrying value of the asseL and is recognised in the statement of financial activities. 1.7 Flxed assot Investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomellexpenditure) for the year. Transaciion costs are expensed as incurred. 1.8 Impairment of fixed assets At each reporting end date, the Church reviews the carrying amounts of tts tangible assets to delermine whether there is any indication that those assets have suffered an impaiment loss. If any such indicalion exists. the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (rf any). 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid invÈstments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.10 Financial instruments The Church has elected to apply the provisions of Section 11 'Basic Finanaal Instruments, and Section 12 'Other Finan￿al Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Church's balance sheet wh8n the Church 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 recogni5ed amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultsneously. 17- FIRST DERRY PRESBYTERIAN CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Ac¢ountlng pollcles (Continued) Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including Iransaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing Iran5aCtion, where the transaction is measured at the present value of the future receipts discounted at a market rate of interesl. Financial assels classified as receivable within one year are not amortised. Baslc flnanclal Ilabllltles Basi¢ financial liabilities, including creditors are inits'8lly recognised at transaction pric8 un18SS th8 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 liabilltles classified as payable within one year are not amortiS8d. Dere¢ognltlon of flnanclal Ilabllltles Financial liabi1Stles are derecognised when the Church's contractual obllgations expire or are discharged or cancelled. Crltlcal a¢countlng estlmatos and Judgements In th8 applic8tlon of the Church's accounting policies, the Irustees are required to mak8 judgements, estimates and assumptions about the carrying amount of assets and liabilili8s that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experlence and other factors thal are considered to be re18vant. Actual results may diffèr from these 8Stimales. 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 only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Donations and legacies Unrestrlcted Restricted funds fund8 Total Unrestricted Restrictèd funds funds Total 2022 2022 2022 2021 2021 2021 Donations and gifts Freewill offerings 1.344 59,267 70 10,393 1,414 69,660 1,097 56.136 100 8,970 1,197 65,106 60,611 10,463 71,074 57,233 9,070 66,303 Freewlll offerlngs Freewill offerings Freewill offerings - Gift Aid 48,930 8,527 57.457 46,677 6,851 53,528 10,337 1,866 12,203 9,459 2,119 11,578 59.267 10.393 69,660 56,136 8,970 65,106 18- FIRST DERRY PRESBYTERIAN CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Charitable activities 2022 2021 Sales within charitable activiknes Charitable rental income 80 8,610 12,955 8,690 12,955 Analysis by fund Unrestricted funds Restricted funds 8,690 8,685 4,270 Other trading activities Unrestricted Unrestricted funds funds 2022 2021 Membership subscriptions and sponsorships which are in substance a payment for goods and services 896 469 19- Q Lr) J o c a> o FIRST DERRY PRESBYTERIAN CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Charitable activities 2022 2021 Self Employed staff costs Depreciation and impairment Central Church assessment Life & work Professional fees Printing, advertising & ststionery costs Light & heat Rales Telephone Insuran Missions & other groups Repairs & maintenance General expenses 9,525 33,531 42,868 1,191 5,719 1,062 15,291 2,048 1,121 7,233 4,933 11,204 2,864 17,152 33,436 7,636 865 5,911 665 9,134 (1.2261 1,142 7,322 1,330 12,247 891 138,590 96,505 Grants to missions & charities (see note 8) 8,493 8,440 147,083 104.945 Analysis by fund Unrestricted funds Restricted funds 90,855 56,228 49,822 55.123 147,083 104,945 Grants payable 2022 2021 Grants to missions & charities: United Appeal 8.493 8,440 Trustees None of the trustees {or any persons connected with them) re￿iVed any rernuneration or benefits from the Church during the year. 21 FIRST DERRY PRESBYTERIAN CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 10 Employees The average monthly number of employees during th8 year was: 2022 Number 2021 Number Totsl There were no employees whose annual remuneration was more than £60,000. 11 Other 2022 2021 Financing costs 420 229 420 229 -22- FIRST DERRY PRESBYTERIAN CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 13 Taxatlon The charity is exempt from tax on income and gains falling within section 505 of th8 Taxe5 Act 1988 or section 252 of the Taxatlonof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 14 Tanglble flxed assets Fr••hold land Flxlur•s and 81uè Crmt and bulldlngs fittings School Vlsitor Cèntrè Total Cost At 1 January 2022 Additions 2,326,954 187,064 13,958 182,820 2,696,838 13,958 At 31 December 2022 2,326,954 201,022 182,820 2,710,796 Depreclatlon and Impalrrnent At 1 January 2022 Depreciation charged in the year 235,140 23,514 5S,987 876 91,410 9,141 382,537 33,531 At 31 December 2022 258,654 56,863 100,551 416,068 Carrylng amount Al 31 December 2022 2,068,300 144,159 82,269 2,294,728 At 31 December 2021 2.091,814 131.077 91,410 2,314,301 15 Fixed asset Investments Llsted Investments Cost or valuation Al 1 January 2022 Valuation changes 840,353 (67,304> At 310ecember 2022 773,049 Carrying amount At 31 December 2022 773.049 At 31 December 2021 840,353 16 Debtors 2022 2021 Amounts falllng due within one year: Olher debtors 19,928 17,782 -24- FIRST DERRY PRESBYTERIAN CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 17 Creditors: amounts falling due within one year 2022 2021 other creditors Accruals and deferred income 17.896 8,602 18,604 21,918 26,498 40,522 -25- 4* ¢N > Ln C L É QJ7J7JEI oZI<£ ULLlr)￿IJ S￿¢(J￿(￿L)LLrLL¥￿￿0Oo)￿rL