an GLENDERm0 PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church In Ireland STATEMENT OF FINANCIAL ACtIVITY for the year ended 31 December 2022 Income and Endowments from: Donations and legacies Charitable artivities Other trading activities Investments Other 94.544 129,659 13,937 1.837 151 224,203 13,937 1,887 378 219,330 11,458 451 390 1,235 50 203 24 Total 94,797 145.589 24 240,410 232.864 Expenditure on: Raising funds Charitable activities Other {2,2271 {89,827) {0) 12.227} 12,4181 101 {248,168} 1218,5211 12.212} 1158.3411 12.2121 Total 192.054) (160.553) (01 (252,6071 1220,939) Net gains/llossesl on investments 1278) (2781 386 Net Income / {expenditure) Transfers between funds Gainslllosses on revaluation of fixed a55ets 2.743 12.182) 114.964) 2,182 1254) 112,4751 12,311 Net movement In funds Reconciliation of funds- Total funds brought forward 561 112.782) (254) (12,475) 12,311 90,678 4,162.694 27.124 4,280,496 4.268.185 Total funds carried forward 91.239 4.149.912 26,870 4.268.021 4,280,496 IIIPage
an GLENDERMOTT PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church In Ireland BALANCE SHEEr As at 310ecember 2022 Flxed assets: Tangible assets 12 0 4.089.090 4,089,090 4.175.661 Donated assets 18 6,170 6.170 6,170 Investments 13 3.104 3,104 3,382 Total fixed assets 0 4.095,260 3,104 4,098.364 4,185.213 Current assets Debtors 14 21.545 26.835 48,380 47.818 Current Investments Cash at bank and in hand 15 69.814 96.128 23,766 189,708 181.922 Total current assets 91.359 122,963 23,766 238.088 229,740 Llabilities: Creditors.. Amounts falling due within one year 16 120 68,311 68.431 83,043 Net current a55ets or liabilities 91,239 54,652 23,766 169.657 146,697 Total assets less current Ilabllltles 91,239 4,149,912 26.870 4.268.021 4,331,910 Creditors.. Amounts fallin8 due after more than one year 17 51,414 Provisions for liabilities Total net assets or liabilities 91.239 4.149.912 26.870 4.268.021 4.280,496 121Page
an GLENDERm0 PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church In Ireland BALANCE SHEET As at 31 December 2022 Funds of the charlty Endowment funds 19 26.870 26,870 27,124 Restricted income funds 19 0 4.149.912 4,149,912 4,162.718 Unrestricted funds 19 91,239 91,239 90.654 Revaluation reserve 19 Total charity funds 91,239 4.149.912 26.870 4,268,021 4.280.496 Approved by the Kirk Session at a meeting on 4th April 2023 and signed on its behalf by Rev. Stephen Hibbert Iminister) Mr avid Campbell IF.C.C.A) Honorary Treasurer th Date.. 4 April 2023 th Date.. 4 April 2023 131Page
an GLENDERMorr PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church In Ireland NOTES TO THE ACCOUNTS 31 December 2022 ACCOUNTING POUCIES BASIS OF FINANCIAL STATEMENTS The financial statements have been prepared in accordance with Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Ireland IFRS1021 {effective l January 20151. The financial statements have been prepared under the historical cost convention except for investment assets. which are shown at market value. The financial statements include all transactions. a55ets and liabilities for which the congregation is responsible in law. They do not include the accounts of church groups that owe their affiliation to another body. nor those that are informal gatherings of church members. FUND ACCOUNTING Endowment fund5 are funds. the capital of which must be retained either permanently or at the conBre8ation'5 discretion: the income derived from the endowment is to be used either a5 restricted or unre5tritted income funds depending upon the purpose for which the endowment was established in the first place. Restricted funds comprise la} income from endowments which is to be expended only on the restricted purposes intended by the donor and Ibl 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. 141Page
an GLENDERm0 PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church In Ireland NOTES TO THE ACCOUNTS 31 December 2022 ACCOUNTING POLICIES(¢onVd) INCOMING RESOURCES Recognition of Incomlng resources These are included in the Statement of Financial Activities {SoFA} when: the con8reEation becomes entitled to the resources; the trustees are virtually certain they will receive the resources,. and • the monetary value can be measured with sufficient reliably. Incoming resources With related expenditure Where incomin8 resource5 have related expenditure la5 With fundraising income) the incoming resources and related expenditure are reported gross in the SOFA. (1111 Grants and donations Grants and donations are only included in the SOFA when the congregation has unconditional entitlement to the resources. (iv) Tax reclaims on donatlons and gifts Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate. (v) Glfts In klnd Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incomin8 resources when receivable. lvl) Volunteer help The value of any voluntary help received is not included in the accounts but is described in the trustees, annual report. {vlll Investment income This is included in the accounts when receivable. (vlll) Investment gains and losses This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investment5 to market value at the end of the year. 151 Page
an GLENDERMOTh PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church In Ireland NOTES TO THE ACCOUNTS 31 December 2022 ACCOUNTING POUCIES (convdl EXPENDITURE AND LIABILITIES (ixl Liablllty recognition Liabilities are recognised as soon as there is a legal or constructive obligation committin8 the congregation to pay out resources. Governance costs These are shown within charitable activities and include the costs of preparation and examination of account5, the costs of trustee meetings and cost of any legal advice to trustees on 8overnance or constitutional matters. ASSEts Ixil Tanglble Flxed Assets Tangible fixed assets for use by charity are capitalised if they can be used for more than one year. and cost at least £2,500. They are valued at cost or, if gifted, at the value to the charity on receipt. Depreciation is recorded on all tangible fixed assets other than freehold land. at rates calculated to write of the cost, less estimated residual value, of each asset over its expected useful life as follows Building5'. Fixtures, fittings and equipment - over 50 years - over 10 years (xii) Investments Investments quoted on a reco8nised stock exchange are valued at market value at the year end. Other investment assets are included at trustees, best estimate of market value. 161 Page
an GLENDERm0 PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church In Ireland NOTES TO THE ACCOUNTS Iconvd) 31 December 2022 DONATIONS AND LEGACIES Recorded giving= Loose collections Donations and gifts Gift Aid Legacies and bequest 78.760 289 57.732 7.715 48,006 16.206 136,492 8,004 48.006 31.701 153,537 460 34,503 30,830 15,495 129.659 224.203 219,330 CHARITABLE ACtIVITIES Income from charitable activities 2,362 2,362 1.612 Fees from weddings and funerals 915 915 1,745 Membership fees Fundraising events Grants 3,569 2.111 4,980 3,569 2,111 4,980 3.919 1,560 2.622 13.937 13.937 11.458 171Pa8e
an GLENDERMOTT PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church In Ireland NOTES TO THE ACCOUNTS Iconvd) 31 December 2022 OTHER TRADING AcfiviTIES Lettin8 of premises Trading income 438 1.399 438 1,449 250 201 50 1.837 1.887 451 INVESTMENTS Deposit interest General Investment Fund Property Rents Other investment income 185 ioi 24 310 324 18 50 66 203 24 378 390 181 Page
an GLENDERMOTh PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church In Ireland NOTES TO THE ACCOUNTS (convdl 31 December 2012 OTHER INCOME Other income 1,235 1.235 RAISING FUNDS FWO envelopes Fundraising events 2,227 2.227 2,418 2,227 2,227 2,418 191 Page
an GLENDERm0 PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church In Ireland NOTES TO THE ACCOUNTS (¢onVdl 31 December 2022 CHARITABLE ACTIVITIES General Assembly Assessments Presbytery fees Ministry and support staff costs Congregational running expenses Donations to Missions and charities Governance costs 66,869 1,025 11.426 9,502 789 216 66,869 1,025 11,676 145,327 23,055 216 65,920 1,025 11.601 120.433 19,302 240 250 135.825 22.266 89,827 158.341 248.168 218.5ZI OTHER EXPENDITURE Purchase of fixed assets 2.212 2.212 2,212 2,212 20IPage
an GLENDERm0 PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church In Ireland NOTE5 TO THE ACCOUNTS Iconvd) 31 December 2022 io. EMPLOYEES Employment Costs Total Funds 2022 Total Funds 2021 Wages and Salaries Social Security Costs Pension contributions 47.206 4,145 9,012 46.380 3,849 8,813 60,363 59,042 Number of Employees The average number of employees, including the minister of the congregation, during the yearwas Average number of employees There were no employees in receipt of employee benefits in excess of £60.CUI. 211 Page
an GLENDERm0 PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church In Ireland NOTES TO THE ACCOUNTS (convdl 31 December 2022 ii. PENSION COSTS 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 asse55ment to the Presbyterian Church in Ireland equivalent to the employerfs pension contribution for the Scheme and based on the stipend paid to the minister. The Presbyterian Church in Ireland Pension Scheme12IX19) is a funded Scheme of the defined benefit type. providing defined benefits based on career average revalued salary. The Scheme has assets held in a separately administered fund managed by a board of trustees. The Presbyterian Church and the Scheme Trustees have agreed a funding plan to ensure the Scheme is sufficiently funded to meet current and future obligations. A formal schedule of contributions was drawn up on 2 March 2022 whereby the Presbyterian Church agreed to pay from 31 December 2023 contributions of 24% of pensionable salaries to cover the accrual of benefits for future service. expenses. the cost of insuring death in service benefits and funding the scheme deficit. The contributions made by the congregation during the year were Total Funds 2022 Total Funds 2021 Contributions 9,012 8,813 221 Page
an GLENDERm0 PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church In Ireland NOTES TO THE ACCOUNTS {conVd) 31 December 2022 12. TANGIBLE FIXED ASSETS Cost or valuatlon At start of year Adjustment to opening balance Additions Disposals Reclassification of assets 3,863.896 464.673 4.328,569 At end of year 3,86396 464,673 4,328,569 Depreciation At start of year Provision for year Disposals 134,322 77.278 18,586 9.293 152,908 86.571 At end of year 211,61XJ 27.879 239,479 Net Book Value At start of year 3.729.574 446,087 4,175,661 At end of year 3,652.296 436.794 4,089,090 13. INVESTMENTS 2022 2021 General Investment Fund 3.104 3,382 3.104 3,382 231Page
an GLENDERMOTh PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church In Ireland NOTES TO THE ACCOUNTS (convdl 31 December 2022 13. INVESTMENTS (Convd) 202Z 2021 Value at start of year Additions 3,382 2,996 Disposals Impairment Gains / (Losses) on revaluation 12781 386 Value at end of year 3.104 3.382 14. DEBTORS 2022 2021 Gift Aid Receivable/ Received Debtors Prepayments 30.707 10.725 6.948 30.679 10,387 6.752 48.380 47.818 15. CASH AT BANK AND IN HAND 2022 2021 Dan5ke current a/c- No. I Danske current a/c- No. 2 Dankse current a/c- Manse Fund Danske current a/c- Cemetery AIB deposit account Progressive Building Society Or8anisation5 Current accounts & Cash in hand 70,068 74.659 1.123 2,887 70,708 65.792 1.153 1,886 23,766 17,199 23.742 18,635 189,708 181,922 241Page
an GLENDERMorr PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church In Ireland NOTES TO THE ACCOUNTS {conVd) 31 December 202Z 16. CREDITORS: amount falling due within one year 2022 2021 Danske bank loan Danske bank loan interest Trade Creditors Accruals 34,215 388 18,515 15.313 50.477 3,000 18,194 11.372 68.431 83.043 17. CREDITORS: amount falllng due after more than one year 202Z 2021 Creditors- Danske bank loan 51,414 51,414 18. Donated Ats 2022 2021 Audio Visual Equipment 6,170 6,170 6.170 6,170 251page
an GLENDERMorr PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church In Ireland NOTES TO THE ACCOUNTS (convd) 31 December 2022 19. FUND BALANCES AND RECONCILIATION OF FUNDS Fund Balance at start Income Expend. Gains/ Losses Transfer Balance at end Unrestricted Funds General Fund 90.654 94,797 192,0301 12.1821 91,239 90.654 94.797 {92,030) 12.1821 91,239 Restrlrted Funds Property/ Building Fund Manse Fund Account Cemetery Fund Account Presbyterian Women Sunday School Girls Brigade Boys Brigade Mothers & Toddlers 67,178 1,153 1,886 1,173 107.198 250 1,148 2.645 395 1.936 7.512 567 132,6971 12801 11471 12,3631 11.2821 14.0031 17.3131 14731 (67,8701 73,809 1,123 2,887 955 15001 887 12911 6.155 6,099 230 3,797 6,298 224 2,737 2,348 838 E!11 iiooi Bowling Club Needlecraft Group Youth Club Audio Tape Holiday Bible Club Youth Fellowship Evangelism Missions & Charities Capital ITFA) Danske Bank Loan alc AIB Deposit account 2,507 1.662 802 260 3,211 459 1301 (8751 14231 11,6501 91 30 11091 12 {9) 17.533 118.8281 186,5711 12,7431 1,295 4,175,661 {101.8921 4.089,090 {34,215} 70,420 4.162.718 143.149 1158,137) 2,182 4,149,912 Endowment Funds Progressive BS General Investment Fund 23,742 3,382 24 23,766 3.104 1278} 27.124 24 1278) 26.870 Total 4.280.496 237.970 (250.167) 12781 4,268,021 261 Page
an GLENDERMOTh PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church In Ireland NOTES TO THE ACCOUNTS (convd) 31 December 2022 20. RELATED PARTY TRANSAcnoN One of the Trustees, the minister of the congregation received remuneration of £37,547 and expenses of £7,126 for acting in that capacity. Pension contributions of £9.012 were paid by the congregation in respect of the minister to the Presbyterian Church in Ireland Pension Scheme12009). None of the other trustees received any remuneration, but 3 trustees claimed expenses of £292 during the year in connection with their duties. During the year the congregation contributed the following amounts to Funds of the General Assembly of the Presbyterian Church in Ireland a separate charity: £66,869 for congregational assessments £11,491 towards the United Appeal £663 towards the World Development Appeal £3.OCrf) towards the Ukraine Moderators Appeal £2,381 towards the Presbyterian Orphan Society £640 towards the Student Bursary The congregation contributed £1,025 towards Presbytery A55essments durin8 the year. There were no other related party transactions. 271Page