Presbyterfan ## **STATEMENT OF FINANCIAL ACTIVITY for the year ended 31 December 2020** ||Notes|Unrestricted
Funds|Restricted
Funds|Endowment
Funds|Total Funds
2020|Total Funds
2019| |---|---|---|---|---|---|---| |||£|£|£|£|£| |**Income and Endowments from:**||||||| |Donations and legacies|2|139,081|46,445|‐|185,296|217,451| |Charitable activities|3|‐|‐|‐|‐|2,689| |Other trading activities|4|2,272|‐|‐|2,272|5,811| |Investments|5|1|23,676|‐|23,677|42,979| |Other|6|8,659|‐|‐|8,659|670| |||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| |Total||150,013|70,121|‐|219,904|269,600| |||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| |**Expenditure on:**||||||| |Raising funds|7|‐|‐|‐||| |Charitable activities|8|161,790|60,619|‐|222,409|241,611| |Other|9|645|10,898|‐|11,543|38,134| |||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| |Total||162,435|70,230|‐|233,952|279,745| |||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| |Net gains/(losses) on investments||(78)|2,582|8,740|12,761|24,865| |||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| |**Net Income / (expenditure)**||(12,500)|2,473|8,740|(1,287)|14,720| |Transfers between funds||||||| |Gains/(losses on revaluation of fixed||||||| |assets||||||| |||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| |**Net movement in funds**||(12,500)|2,473|8,740|(1,287)|14,720| |Reconciliation of funds:||||||| |Total funds brought forward||30,977|256,511|198,568|486,056|471,336| |||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| |**Total funds carried forward**||18,477|258,984|207,308|484,769|486,056| |||======|======|======|======|======| **12 |** P a g e ## Presbyterfan ## **BALANCE SHEET** ## **As at 31 December 2020** ||Notes|Unrestricted
Funds|Restricted Funds|Endowment
Funds|Total Funds 2020|Total Funds 2019| |---|---|---|---|---|---|---| |||**£**|**£**|**£**|**£**|**£**| |**Fixed assets:**||||||| |Tangible assets|12|‐|5,800,000|‐|5,800,000|5,800,000| |Heritage assets||**‐**|**‐**|**‐**|**‐**|**‐**| |Investments|**13**|**‐**|**‐**|**‐**|**‐**|**‐**| |||**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**| |**Total fixed assets**||**‐**|**5,800,000**|**‐**|**5,800,000**|**5,800,000**| |||**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**| |**Current assets**||||||| |Debtors|**14**|**26,852**|**7,790**|**‐**|**34,642**|**31,584**| |Current Investments||**‐**|**87,616**|**197,583**|**285,199**|**198,452**| |Cash at bank and in hand|**15**|**(8,375)**|**163,578**|**9,725**|**164,928**|**258,682**| |||**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**| |**Total current assets**||**18,477**|**258,984**|**207,308**|**484,769**|**486,056**| |||**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**| |**Liabilities:**||||||| |Creditors: Amounts falling due within|**16**|**‐**|**‐**|**‐**|**‐**|**‐**| |one year||||||| |||**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**| |**Net current assets or liabilities**||**18,477**|**258,984**|**207,308**|**6,284,769**|**6,286,056**| |||**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**| |**Total assets less current liabilities**||||||| |Creditors: Amounts falling due after|**17**|**‐**|**‐**|**‐**|**‐**|**‐**| |more than one year||||||| |||**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**| |**Total net assets or liabilities**||**18,477**|**6,058,984**|**207,308**|**6,284,769**|**6,286,056**| |||**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**|**‐‐‐‐‐‐‐‐‐‐**| **13 |** P a g e ## Presbyterfan ## **BALANCE SHEET** ## **As at 31 December 2020** **£ £ £ £ £ Funds of the charity** Endowment funds **18 ‐ ‐ 207,308 207,308 198,568** Restricted income funds **18 ‐ 6,058,984 ‐ 6,058,984 6,056,511** Unrestricted funds **18 18,477 ‐ ‐ 18,477 30,977** Revaluation reserve **18 ‐ ‐ ‐ ‐ ‐ ‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐ Total charity funds 18,477 6,058,984 207,308 6,284,769 6,286,056 ‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐** Approved by the Kirk Session at a meeting on Monday 18[th] October, 2021 and signed on its behalf by Name: Rev Alan Thompson Date: 18[th] October, 2021 Signature: _Alan S. Thompson_ Name: Mr David Miller Date: 18[th] October, 2021 Signature: _D. Miller_ **14 |** P a g e Presbyterfan ## **NOTES TO THE ACCOUNTS** ## **31 December 2020** ## **1. ACCOUNTING POLICIES** ## **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 (FRS102) (effective 1 January 2015). 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, assets 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 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. . **15 |** P a g e Presbyterfan ## **NOTES TO THE ACCOUNTS** ## **31 December 2020** ## **1. ACCOUNTING POLICIES(cont’d)** ## **INCOMING RESOURCES** ## **(i) Recognition of incoming resources** These are included in the Statement of Financial Activities (SoFA) when: - the congregation 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. ## **(ii) Incoming resources with related expenditure** Where incoming resources have related expenditure (as with fundraising income) the incoming resources and related expenditure are reported gross in the SoFA. ## **(iii) 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 donations and gifts** Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to which they relate. ## **(v) Contractual income and performance related grants** This is only included in the SoFA once the related goods or services have been delivered. ## **(vi) Gifts in kind** 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 use by the charity are included in the SoFA as incoming resources when receivable. **16 |** P a g e Presbyterfan ## **NOTES TO THE ACCOUNTS** ## **31 December 2020** ## **1. ACCOUNTING POLICIES (cont’d)** ## **(vii) Donated services and facilities** These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received. ## **(viii) Volunteer help** The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report. ## **(ix) Investment income** This is included in the accounts when receivable. ## **(x) Investment gains and losses** This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. ## **EXPENDITURE AND LIABILITIES** ## **(xi) Liability recognition** Liabilities are recognised as soon as there is a legal or constructive obligation committing the congregation to pay out resources. ## **(xii) Governance costs** These are shown within charitable activities and include the costs of preparation and examination of accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters. ## **(xiii) Grants with performance conditions** Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output. **17 |** P a g e Presbyterfan ## **NOTES TO THE ACCOUNTS** ## **31 December 2020** ## **1. ACCOUNTING POLICIES (cont’d)** ## **(xiv) Grants payable without performance conditions** These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity **.** ## **ASSETS** ## **(xv) Tangible Fixed 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 |useful life as follows|| |---|---| |Buildings:|‐ over 50 years| |Fixtures, fittings and equipment|‐ over 10 years| |Motor Vehicles|‐ over 4 years| |Computers, software and technical equipment|‐ over 4 years| ## **(xvi) Investments** Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees’ best estimate of market value. **18 |** P a g e ## Presbyterfan ## **NOTES TO THE ACCOUNTS (cont’d) 31 December 2020** ## **2. DONATIONS AND LEGACIES** ||Unrestricted
Funds|Restricted
Funds|Endowment|Funds|Total Funds
2020|Total Funds
2019| |---|---|---|---|---|---|---| ||£|£||£|£|£| |Recorded giving:|109,663|42,242||‐|151,905|168,743| |Loose collections|811|‐||‐|811|3,292| |Donations and gifts|‐|500||‐|500|‐| |Gift Aid|28,607|3,703||‐|32,310|45,416| |Legacies and bequest|‐|‐||‐|‐|‐| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| ||139,081|46,445||‐|185,296|217,451| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| |**3.**
**CHARITABLE ACTIVITIES**||||||| ||Unrestricted
Funds|Restricted
Funds|Endowment|Funds|Total Funds
2 020|Total Funds
2019| ||£|£||£|£|£| |Income from charitable activities|‐|‐||‐|‐|‐| |Fees from weddings and funerals|‐|‐||‐|‐|‐| |Membership fees|‐|‐||‐|‐|260| |Fundraising events|‐|‐||‐|‐|331| |Grants|‐|‐||‐|‐|2,098| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| ||‐|‐||‐|‐|2,689| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| **19 |** P a g e ## Presbyterfan ## **NOTES TO THE ACCOUNTS (cont’d) 31 December 2020** ## **4. OTHER TRADING ACTIVITIES** ||Unrestricted
Funds|Restricted
Funds|Endowment|Funds|Total Funds
2020|Total Funds
2019| |---|---|---|---|---|---|---| ||£|£||£|£|£| |Letting of premises|1,855|‐||‐|1,855|4,730| |Land lettings and wayleaves|417|‐||‐|417|417| |Trading income|‐|‐||‐|‐|664| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| ||2,272|‐||‐|2,272|5,811| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| |**5.**
**INVESTMENTS**||||||| ||Unrestricted
Funds|Restricted
Funds|Endowment|Funds|Total Funds
2020|Total Funds
2019| ||£|£||£|£|£| |Deposit interest|1|523||‐|523|2,472| |General Investment Fund|‐|‐||‐|‐|‐| |Proceeds from investments|‐|19,086||‐|19,086|35,725| |Other investment income|‐|4,067||‐|4,067|4,779| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| ||1|23,676|||23,677|42,979| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| **20 |** P a g e ## Presbyterfan ## **NOTES TO THE ACCOUNTS (cont’d) 31 December 2020** ## **6. OTHER INCOME** |||Unrestricted
Funds|Restricted|Funds|Endowment|Funds|Total Funds
2020|Total Funds
2019| |---|---|---|---|---|---|---|---|---| |||£||£||£|£|£| |Income from Church magazines||895||‐||‐|895|645| |Other income||7,764||‐||‐|7,764|25| |||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐||‐‐‐‐‐‐‐‐‐‐||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| |||8,659||‐||‐|8,659|670| |||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐||‐‐‐‐‐‐‐‐‐‐||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| |**7.**|**RAISING FUNDS**|||||||| |||Unrestricted
Funds|Restricted|Funds|Endowment|Funds|Total Funds
2020|Total Funds
2019| |||£||£||£|£|£| |FWO envelopes||‐||‐||‐|‐|‐| |Fundraising events||‐||‐||‐|‐|‐| |||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐||‐‐‐‐‐‐‐‐‐‐||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| |||‐||‐||‐|‐|‐| |||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐||‐‐‐‐‐‐‐‐‐‐||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| **21 |** P a g e ## Presbyterfan ## **NOTES TO THE ACCOUNTS (cont’d) 31 December 2020** ## **8. CHARITABLE ACTIVITIES** ||Unrestricted
Funds|Restricted
Funds|Endowment|Funds|Total Funds
2020|Total Funds
2019| |---|---|---|---|---|---|---| ||£|£||£|£|£| |General Assembly Assessments|27,548|‐|‐||27,548|27,400| |Ministry and support staff costs|105,574|‐|‐||105,574|102,267| |Congregational running expenses|28,668|29,051|‐||57,719|68,472| |Donations to Missions and|‐|31,568|||31,568|43,472| |charities||||||| |Governance costs|‐|‐|‐||‐|‐| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| ||161,790|60,619|‐||222,409|241,611| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| |**9.**
**OTHER EXPENDITURE**||||||| ||Unrestricted
Funds|Restricted
Funds|Endowment|Funds|Total Funds
2020|Total Funds
2019| ||£|£||£|£|£| |Church magazine – cost|645|‐||‐|645|645| |Trading – tuck shop|‐|‐||‐|‐|1,005| |Investment fees|‐|1,366||‐|1,366|1,143| |Purchase of investments|‐|9,532||‐|9,532|35,341| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| ||645|10,898|||11,543|38,134| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| **22 |** P a g e ## Presbyterfan ## **NOTES TO THE ACCOUNTS (cont’d) 31 December 2020** ## **10. EMPLOYEES** ## **Employment Costs** ||Total Funds
2020|Total Funds
2019| |---|---|---| ||£|£| |Wages and Salaries|92,412|88,644| |Social Security Costs|5,434|5,328| |Other allowances|7,705|8,295| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| ||105,551|102,267| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| ## **Number of Employees** The average number of employees, including the minister of the congregation, during the year was ||Total Funds|2020|Total Funds|2019| |---|---|---|---|---| |||£||£| |Average number of employees||6||6| ||‐‐‐‐‐‐‐‐‐‐||‐‐‐‐‐‐‐‐‐‐|| There were no employees in receipt of employee benefits in excess of £60,000. **23 |** P a g e Presbyterfan ## **NOTES TO THE ACCOUNTS (cont’d) 31 December 2020** ## **11. PENSION COSTS** The minister of the congregation is a member of the Presbyterian Church in Ireland Pension Scheme (2009). This is a scheme operated by the Presbyterian Church in Ireland, a separate registered charity. The congregation pays an assessment to the Presbyterian Church in Ireland equivalent to the employer’s pension contribution for the Scheme and based on the stipend paid to the minister. The Presbyterian Church in Ireland Pension Scheme (2009) 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 25 November 2015 whereby the Presbyterian Church agreed to pay from 31 December 2015 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 Contributions **----- Start of picture text -----**
£ £
10,053 9,856
‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐
Total Funds 2020 Total Funds 2019
**----- End of picture text -----**
The congregation operates a defined pension contribution policy for its employees. The scheme and its assets are held by an independent scheme manager. The pension charge represents the contributions due from the congregation during the year £ £ Contributions ‐ ‐ ‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐ **24 |** P a g e ## Presbyterfan ## **NOTES TO THE ACCOUNTS (cont’d) 31 December 2020** ## **12. TANGIBLE FIXED ASSETS** ||Land &
Buildings|Fixtures and|Fittings|Vehicles|Total| |---|---|---|---|---|---| ||£||£|£|£| |**Cost or valuation**|||||| |At start of year|5,800,000||‐|‐|5,800,000| |Additions|‐||‐|‐|‐| |Disposals|‐||‐|‐|‐| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| |At end of year|5,800,000||‐|‐|5,800,000| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| |**Depreciation**|||||| |At start of year|‐||‐|‐|‐| |Provision for year|‐||‐|‐|‐| |Disposals|‐||‐|‐|‐| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| |At end of year|‐||‐|‐|‐| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| |**Net Book Value**|||||| |At start of year|5,800,000||‐|‐|5,800,000| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| |At end of year|5,800,000||‐|‐|5,800,000| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| ## **13. INVESTMENTS** ||**2020**|**2019**| |---|---|---| ||**£**|**£**| |Listed investments|285,199|198,452| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| ||285,199|198,452| ||======|======| **25 |** P a g e Presbyteryan ## **NOTES TO THE ACCOUNTS (cont’d)** ## **31 December 2020** ## **13. INVESTMENTS (Cont’d)** ||**2020**|**2019**| |---|---|---| ||**£**|**£**| |Value at start of year|198,456|173,703| |Additions|80,466|35,341| |Disposals|(19,086)|(35,728)| |Impairment|‐|‐| |Gains / (Losses on revaluation)|25,363|25,136| |Value at end of year|285,199|198,456| ||======|======| ## Memo: for information purposes only The SORP requires that the notes to the accounts must; - State the accounting policies for investments, including the basis on which - investments are measured; - Provide an analysis of investments by class of investment identifying the amounts - held within each class, with those investments held at fair value differentiated - from those held at historical cost less impairment; and - provide an analysis reconciling the opening and closing carrying amounts of each class. - the classes of investments disclosed in the note will vary reflecting the differing nature of the investments held. This SORP requires that the analysis must as a minimum identify material amounts held in the following classes of investment: - cash or cash equivalents; - listed investments; - investment properties; - loans to group undertakings; - equity investment in group undertakings; - social investments; and - other investments. **26 |** P a g e ## Presbyterfan ## **NOTES TO THE ACCOUNTS (cont’d) 31 December 2020** ## **14. DEBTORS** ||**2020**|**2019**| |---|---|---| ||**£**|**£**| |Gift Aid Recoverable|34,642|31,584| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| ||34,642|31,584| ||======|======| ## **15. CASH AT BANK AND IN HAND** ||**2020**|**2019**| |---|---|---| ||**£**|**£**| |First Trust current account|35,942|55,114| |First Trust deposit account|87,829|186,384| |Smith & Williamson|38,787|116| |National Savings|2,370|2,353| |Presbyterian Mutual|‐|14,715| |Cash in hand|‐|‐| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| ||164,928|258,682| ||======|======| ## **16. CREDITORS: amount falling due within one year** |2020|2019| |---|---| |‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| |‐|‐| |======|======| **27 |** P a g e Presbyterfan ## **NOTES TO THE ACCOUNTS (cont’d) 31 December 2020** ## **17. FUND BALANCES AND RECONCILIATION OF FUNDS** |Fund|Balance|Income|Expend.|Gains/|Transfer|Balance| |---|---|---|---|---|---|---| ||at start|||Losses||at end| ||£|£|£|£|£|£| |**Unrestricted Funds**||||||| |General Fund|30,977|150,013|162,435|(78)||18,477| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| ||30,977|150,013|162,435|(78)|‐|18,477| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| |**Restricted Funds**||||||| |General Fund|‐|21,981|21,981|‐|‐|‐| |PW|5,044|1,097|2,866|‐|‐|3,275| |Property|5,564|12,918|20,360|(598)|‐|(2,476)| |Sunday School|5,121|3|500|‐|‐|4,624| |Choir|139|‐|‐|‐|‐|139| |Bequests|14,039|‐|‐|(14,039)|‐|‐| |Graves|125|‐|‐|‐|‐|125| |Bowling|550|‐|‐|‐|‐|550| |Soul Resort|1,488|‐|‐|‐|‐|1,488| |Missionary|161|6,757|6,750|‐|‐|168| |Summer School|256|‐|‐|‐|‐|256| |Gault Trust|2,047|14|‐|‐|‐|2,061| |Benevolent|4,639|1,386|1,335|‐|‐|4,690| |McLean Bequest|211,799|23,483|10,898|17,219|‐|241,603| |Gift Aid|5,540|2,482|5,540|‐|‐|2,482| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| ||256,511|70,121|70,250|2,582|‐|256,502| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| **28 |** P a g e ## Presbyterfan ## **NOTES TO THE ACCOUNTS (cont’d) 31 December 2020** ## **18. FUND BALANCES AND RECONCILIATION OF FUNDS** |**Endowment Funds**|Balance|Income|Expend.|Gains/|Transfer|Balance| |---|---|---|---|---|---|---| ||at start|||Losses||at end| ||£|£|£|£|£|£| |McLean Fund|198,452|‐|‐|8,740|‐|207,308| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| |Total|198,452|‐|‐|8,740|‐|207,308| ||‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐|‐‐‐‐‐‐‐‐‐‐| ## **18. RELATED PARTY TRANSACTION** One of the Trustees, the minister of the congregation received remuneration of £41,886 and Petrol Expenses of £6,617 for acting in that capacity. Pension contributions of £10,053 were paid by the congregation in respect of the minister to the Presbyterian Church in Ireland Pension Scheme (2009). None of the other trustees sought or received any remuneration 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 £16,308 for congregational assessments £10,000 towards the United Appeal The congregation contributed £1,187 towards Presbytery Assessments during the year There were no other related party transactions. **29 |** P a g e