MAGHEIiAFELT REFORMED BAPTIST CHURCH STATEMENT OF FINANCIAL A1VITy For the year ended 31 DÈcember 2023 Note Unrestrlrted Funds Restrltted Funds Total Funds Totsl Funds 2022 2023 Income and Endowments from: Donations and legacles Investments Totsl 3S.219 534 35,753 35.219 534 35.753 31,575 96 31,671 Expendlture on: Charitable activities Total 166,633 166,633) 130.880} 166.6331 166.6331 130.8801 131,6781 131,6781 171 Net Incomellexpenditurel Transfers between funds Net movement In funds 130,8801 130.8801 Reconclll4tlon of funds: Total funds brought foThvard Total fund5 carrled forward 132,727 101,847 132,727 101,847 132,734 132,727
MAGHERAFELT REFORMED BAPTIST CHURCH STATEMENT OF ASSETS AND LIABIUTIES As at 31 December 2023 Flxed Assets The church owns some various equlpment at a value of £29.320 at the yearond1£21.200 In 20221. A new air conditioning system was pur¢h35ed in the year at a cost of £8.120. Amounts recelvable At the end of thÈ year the following amount5 were owed to the c0nBgatklnS. 2023 2022 Glft Ald 5,825 5.825 6,642 6,642 Cash and bank balances 2023 2022 General Account Buslness Reserve Account 39.839 44,687 84,526 80,923 44,153 125,076 Amounts owed 2023 2022 Accountancy fee PAYE due Penslon due 900 700 1,448 97 2,245 900 Approved on behalf of the trustees on 23 October 2024 and s18ned on thelr behalf by 5am Gordon Robert Taylor Trustee Trustee
MAGHERAFELT REFORMED 8ApnsT CHURCH NOTES TO THE ACCOUNTS 31 December 2023 Accountln8 pollcies BASIS OF FINANCIAL STATEMENTS As the total Income of the charity is less than £250,000 the congregation have elected in accordance with the provlslons in The Charities Accounts and Reports Regulatlons (Northern Ireland) 2015 to prepare its accounts on a receipts and payments basls, FUND ACCOUNTING Endowment funds are funds. the capktal of whith must be retained either permanently or at the charivs discretlon,. the Income derlved from the endowment is to be used either as restrittsd or unrestflcted income fund5 dependin8 upon the purpose for which the endowmènt was established in the flrst place. Restrlcted funds comprlse lal income from endowments whlch is to be expended only on the restrScted purpose5 intended by the donor and Ibl revenue donation5 or grants for a specific congregational actNity Intended by the donor. Where these funds havè unspent balances, interest on their pooled Investment is apportloned to the individual fund5 on an avera8e basls. Unrestricted funds are Income funds whlch are to be spent on the charivs general purposes. Designated fvnds are general funds set aside by the charlty for use In the future. DONATIONS AND LEGAaES Unrestrlcted Fund$ Restrirted Funds Total Funds 2023 Total Funds 2022 Recorded givlng Loose collectlons Donatlons and gSfts Gift Aid 27.963 973 27,963 973 24,520 2,180 6,283 35.219 6,283 35.219 4,875 31,575 INVESTMENTS Unrestrlrted Funds Restricted Funds Total Funds 2023 Total Funds 2022 Bank Interest received 534 534 534 534 96 96
MAGHERAFELT REFORMED BAPTIST CHURCH NOTES TO THE ACCOUNTS (Convd) CHARITABLE AcfiviTES Unrestrlcted Funds Restricted Funds Total Funds 2023 Total Funds 2022 Mlnlstry and support staff costs Congregational runnlng expenses Donatlons to Mlssions and charltles Governance costs 24.540 40.993 200 900 24,540 40,993 200 900 66,633 7,532 21,806 1,500 840 31,678 FUND BALANCES Unrestrirt*d Funds 2023 2022 General fvnd 101,847 101,847 132,727 132.727 Restrlrted Funds 2023 2022 Restricted funds Reconclllatlon of movement of funds Openln8 balance Income Expendlture Transfer Closing balan¢È Unrestrlcted Funds General Fund 132,727 131727 35.753 35,753 166,6331 166,6331 101,847 101.847 Restricted Funds RestTlcted Fund Totol 132,727 35.753 166,6331 101047