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PORTAVOGIE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
Financial Statements
for the year ended 31 December 2020
Registered Charity in Northern Ireland (NIC106138)
1
PORTAVOGIE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the year ended 31 December 2020
| Note | Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|---|
| Funds | Funds | Funds | 2020 | 2019 | ||
| £ | £ | £ | £ | £ | ||
| Receipts | ||||||
| Donations and legacies | 2 | 38182 | 10133 | 0 | 48314 | 61873 |
| Charitable activities | 3 | 0 | 0 | 0 | 0 | 0 |
| Other trading activities | 4 | 0 | 0 | 0 | 0 | 0 |
| Investment Income | 5 | 0 | 0 | 0 | 0 | 0 |
| Other | 6 | 0 | 0 | 0 | 0 | 0 |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Sale of Investments | 0 | 0 | 0 | 0 | 0 | |
| Sale of fixed assets | 0 | 0 | 0 | 0 | 0 | |
| Loans Received | 0 | 0 | 0 | 0 | 0 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Total Receipts | 38182 | 10133 | 0 | 48314 | 61873 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Payments | ||||||
| Raising funds | 7 | 0 | 0 | 0 | 0 | 0 |
| Charitable activities | 8 | 28787 | 12910 | 0 | 41697 | 60467 |
| Investment costs | 0 | 0 | 0 | 0 | 0 | |
| Other | 9 | 0 | 0 | 0 | 0 | 0 |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Purchase of Investments | 0 | 0 | 0 | 0 | 0 | |
| Purchase of fixed assets | 0 | 0 | 0 | 0 | 0 | |
| Loan Repayments | 0 | 0 | 0 | 0 | 0 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Total Payments | 28787 | 12910 | 0 | 41697 | 60467 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Net receipts / | 9395 | (2777) | 0 | 7109 | 1406 | |
| (payments) | ||||||
| Transfers between funds | 2168 | 1686 | 0 | 973 | 1573 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| Net movement in funds | 7227 | 1091 | 0 | 6136 | 619 | |
| Funds brought forward | 10107 | 1974 | 0 | 12081 | 11462 | |
| ---------- | --------- | ---------- | ---------- | ---------- | ||
| Funds carried forward | 12 | 173345 | 883 | 0 | 18217 | 12081 |
| ====== | ====== | ====== | ====== | ====== |
Presbyterian
PORTAVOGIE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF ASSETS AND LIABILITIES
As at 31 December 2020
| As at 31 December 2020 | |||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | Total | |
| Funds | Funds | Funds | Funds | Funds | |
| 2020 | 2019 | ||||
| £ | £ | £ | £ | £ | |
| Funds Reconciliation | |||||
| Bank and Cash at start of year | 10107 | 1974 | 0 | 12081 | 11464 |
| Net movement in funds | 7227 | (1091) | 0 | 6136 | 618 |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| Bank and Cash at end of year | 17334 | 883 | 0 | 18217 | 12081 |
| ======- | ======= | ======= | ======= | ======= | |
| Bank & Cash Balances | |||||
| Bank Deposit Accounts | 0 | 0 | 0 | 0 | 0 |
| Bank Current Accounts | 17980 | 11925 | |||
| Cash in Hand | 237 | 156 | |||
| ---------- | ---------- | ||||
| 18217 | 12081 | ||||
| ======= | ======= | ||||
| Other Assets | |||||
| Fixed Assets – Note 10 | 1128396 | 1128396 | |||
| - Church Premises | |||||
| - Fixtures, Fittings & Equipment | |||||
| - Vehicles | |||||
| Investments – Note 11 | |||||
| Gift Aid receivable on donations |
| ---------- | ---------- | |
|---|---|---|
| ======= | ======= | |
| Liabilities | ||
| Loan | 11126 | 18626 |
| Other | 0 | 5808 |
| ---------- | ---------- | |
| 11126 | 24434 | |
| ======= | ======= |
Approved by the Kirk Session at a meeting on 29th September 2021 and signed on its behalf by
[Name] [Name]
3
PORTAVOGIE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS
31 December 2020
1. ACCOUNTING POLICIES
BASIS OF FINANCIAL STATEMENTS
As the total income of the congregation is less than £250,000 the congregation have elected in accordance with the provisions in The Charities (Accounts and Reports Regulations (Northern Ireland) 2015 to prepare its accounts on a receipts and payments basis.
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.
2. DONATIONS AND LEGACIES
| Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2020 | 2019 | |
| £ | £ | £ | £ | £ | |
| Recorded giving | 28208 | 8957 | 0 | 37165 | 48406 |
| Loose collections | 4083 | 0 | 0 | 4083 | 6025 |
| Donations and gifts | 0 | 0 | 0 | ||
| Gift Aid | 5890 | 1176 | 0 | 7066 | 7442 |
| Legacies and bequest | |||||
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 38181 | 10133 | 0 | 48314 | 61873 | |
| ---------- | ---------- | ---------- | ---------- | ---------- |
Presbyterian
PORTAVOGIE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2020
3. CHARITABLE ACTIVITIES
| Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2018 | 2017 | |
| £ | £ | £ | £ | £ | |
| Income from charitable activities | 0 | 0 | 0 | ||
| Fees from weddings and funerals | 0 | 0 | 0 | ||
| Fundraising events | 0 | 0 | 0 | ||
| Membership fees | 0 | 0 | 0 | ||
| Grants | 0 | 0 | 0 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 0 | 0 | 0 0 |
0 0 |
0 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 4. OTHER TRADING ACTIVITIES | |||||
| Unrestricted | Restricted | Endowment | Total | Total | |
| Funds | Funds | Funds | 201X | 201Y | |
| £ | £ | £ | £ | £ | |
| Letting of premises | 0 | 0 | 0 | ||
| Trading income | 0 | 0 | 0 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 0 | 0 | 0 0 |
0 0 |
0 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 5. INVESTMENT INCOME | |||||
| Unrestricted | Restricted | Endowment | Total | Total | |
| Funds | Funds | Funds | 201X | 201Y | |
| £ | £ | £ | £ | £ | |
| Deposit interest | 0 | 0 | 0 | ||
| General Investment Fund | 0 | 0 | 0 | ||
| Rents investment properties | 0 | 0 | 0 | ||
| Other investment income | 0 | 0 | 0 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| 0 | 0 | 0 0 |
0 0 |
0 | |
| ---------- | ---------- | ---------- | ---------- | ---------- |
5
PORTAVOGIE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d)
31 December 2020
6. OTHER INCOME
| Unrestricted | Restricted | Endowment | Total | Total | ||
|---|---|---|---|---|---|---|
| Funds | Funds | Funds | 201X | 201Y | ||
| £ | £ | £ | £ | £ | ||
| Insurance claims | 0 | 0 | 0 | 0 | 0 | |
| Other income | 0 | 0 | 0 | 0 | 0 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| 0 | 0 | 0 | 0 | 0 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| 7. | RAISING FUNDS | |||||
| Unrestricted | Restricted | Endowment | Total | Total | ||
| Funds | Funds | Funds | 201X | 201Y | ||
| £ | £ | £ | £ | £ | ||
| FWO | envelopes | |||||
| Fundraising events | ||||||
| 0 | 0 | 0 | 0 | 0 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| 0 | 0 | 0 | 0 |
0 |
||
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| 8. | CHARITABLE ACTIVITIES | |||||
| Unrestricted | Restricted | Endowment | Total | Total | ||
| Funds | Funds | Funds | 2020 | 2019 | ||
| £ | £ | £ | £ | £ | ||
| General Assembly Assessments | 10623 | 0 | 0 | 10623 | 2054 | |
| Presbytery fees | 795 | 0 | 0 | 795 | 795 | |
| Ministry and support staff costs | 11780 | 0 | 0 | 11780 | 26623 | |
| Congregational running expenses | 13636 | 0 | 0 | 13636 | 13095 | |
| Donations to Missions and | 0 | 4863 | 0 | 4863 | 16718 | |
| charities | ||||||
| Governance costs | 0 | 0 | 0 | 0 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- | ||
| 36834 | 4863 | 0 | 41697 | 59285 | ||
| ---------- | ---------- | ---------- | ---------- | ---------- |
Presbyterian
PORTAVOGIE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d) 31 December 2020
9. OTHER EXPENDITURE
| Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 201X | 201Y | |
| £ | £ | £ | £ | £ | |
| Investment properties expenses | 0 0 0 | 0 0 0 | 0 0 0 | 0 0 |
0 |
| ---------- | ---------- | ---------- | ---------- | ---------- | |
| ---------- | ---------- | ---------- | ---------- | ---------- |
10. FIXED ASSETS
The congregation owns the Church premises situated at Main Road, Portavogie, also 22 The Tides, Portavogie and the associated fixtures, fittings, plant and machinery. These have an insurance value of £1,063,621.
11. INVESTMENTS
The congregation has the following investments. Amounts are shown at market valuation.
| 2018 | 2017 | |
|---|---|---|
| £ | £ | |
| General Investment Fund | 0 | 0 |
| Property | 0 0 | 0 0 |
| Other investments | 0 0 | 0 0 |
| ---------- | ---------- | |
| 0 0 |
0 | |
| ---------- | ---------- |
7
PORTAVOGIE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d) 31 December 2020
12. FUND BALANCES
| Fund | Balance | Receipts | Payment | Surplus / | Transfer | Balance |
|---|---|---|---|---|---|---|
| at start | (Deficit) | at end | ||||
| £ | £ | £ | £ | £ | £ | |
| Unrestricted Funds | ||||||
| General | 10107 | 38182 | 28787 | 9395 | 2168 | 17334 |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| 10107 | 38182 | 28787 | 9395 | 2168 | 17334 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| Restricted Funds | ||||||
| Building Fund | 1440 | 5828 | 6800 | (972) | 0 | 468 |
| Presbyterian Woman | 534 | 353 | 471 | (118) | 0 | 415 |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| 1974 | 6181 | 7271 | (1090) | 0 | 883 | |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- | |
| Endowment Funds | 0 | 0 | 0 | 0 | 0 | 0 |
| ---------- | ----------- | ----------- | ----------- | ----------- | ---------- | |
| Total | 12081 | 44363 | 36058 | 8305 | 2168 | 18217 |
| ---------- | ---------- | ---------- | ---------- | ---------- | ---------- |