MAGHERAFELT REFORMED BAPTIST CHURCH srATEMENT OF FINANCIAL Acrivi For the year ended 31 Oecember 2022 Note Unrestrlcted Funds Restrithd Fund5 Totsl Fund5 2022 Total Funds 2021 Income and Endowmentsfrom: Donatlons and legacles Investments Totsl 31,575 96 31.671 31,575 96 31,671 39,009 39.013 Expéndituré on: Charltable actlvltles Total Net Incomellexpendlturel Transfers between funds Net movement In funds 31.678 31,678 31.678 31,678 171 119,8981 {19,8981 19,115 171 19.115 Reconclllatlon of funds.. Total funds brought forward Total fvnds carrled forward 132.734 132,727 132,734 132.727 113,619 132.734
MAGHERAFELT REFORMED BAPTIST CHURCH STATEMENT OF ASSETS AND IIABIUTIES As at 31 December 2022 Flxèd Assets The church owns some computer equipment and audio-vlsual equipment. The trustees have estirnated that this equipment would have a value of £18,000 at the year end. with £6,000 being purchased In the year, A stalr Ilft was also purchased during the prior year at a cost of £3,200. Amounts re¢eivable At the end of the year the followlng amounts were owed to the congregatlons: 2022 2021 Glft Ald 6,642 6,642 4,865 4.865 Cash and bank balances 2022 2021 General Account Buslness ReseTre Account 80,923 44,153 125,076 85,476 44,054 129,530 Amounts owed 2022 2021 Accountancy fee PAYE due Pension due 700 700 97 2,245 700 Approved on behalt of the trustees on 31 October 2023 and slgned on their behalf by Sam Gordon Robert Taylor Trustee Trustee
MAGHERAFELT REFORMED BAPTIST CHURCH NOTES TO THE ACCOUNTS 31 December 2022 Accounting pollcles Bls OF FINANCIAL STATEMÉNT5 As the totsl Income of the charlty Is less than £250.000 the congregatlon havÈ elected in accordance with the provislons In The Charities Accounts and Report5 Re8ulatlons (Northem Ireland) 2015 to prepare its accounts on a receipts and payments basls. FUND ACCOUNTING Endowment funds are fvnds. the capttal of whlch must be retained either permanently or at the charitys discretlon- the Income derived from the endowmentls to be used either as restricted or unrestricted Income funds dependlng upon the purpose for which the endowment was estsbllshed in the flrst place. Restrlcted funds comprlse la) income from endowments whlch15 to be expended only on the re5trlcted purposes intended by the donor and {bl revenue donations or grants for a specifk congre8atlonal activity Intended by the donor. Where these fvnds have unspent balances, interest on thelr pooled investment is apportloned to the Individual f unds on an average basis. Unrertrlcted funds are Income funds whlch art to be spent on the charitvs general purposes. Desi8nated funds are general funds set aside by the charlty for use In the future. DONATIONS ANO LÉGACIES Unrestrlcted Funds Restrlcted Funds Total Funds 2022 Total Funds 2021 Recorded 8lvin8 Loose collectlons Donatlons and glfts GiftAld 24,520 2,180 25,775 2,087 4,875 31.575 11,147 39,009 INVESTMENTS Unrestrlcted Re$trt¢(ed Fund$ Fund$ Total Funds 2022 Total Funds 2021 Bank interest received 96 96
MAGHERAFELT REFORMED BAPTIST CHURCH NOTES TO THE ACCOUNTS Iconvd) CHARITABLE ACTIVITES Unrestrlcted Funds Rèstrirtèd Fund5 Totsl Funds 2022 Total Funds 2021 Mlnistry and support stsff costs conggatIOnal running expenses Donations to Missions and charities Governance costs 7.532 21.806 1.500 7.532 21.806 17,558 1,500 31,678 31,678 19,898 FUND BALANCES Unrestrlrted Funds 2022 2021 General fund 132.727 132,727 132,734 132,734 Restrfrted Funds 2022 2021 Restrlcted funds Reconclllatlon of movement of funds Openln8 balance Income Expendlturn Trnnsfer ClosSng b41ance Unrestrlrted Fund$ General Fund 132,734 132.734 31,671 31,671 131.6781 (31.678) 132.727 132,727 Restrirted Funds Restrlcted Fund Total 132,734 31,671 {31.678) 132,727 io