MAGHEIiAFELT REFORMED BAPTIST CHURCH
STATEMENT OF FINANCIAL A￿1VITy
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 c0nB￿gatklnS.
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