4
LIMAVADY REFORMED PRESBYTERIAN CHURCH
Statement of Receipts and Payments Year ended 31 December 2021
| Note Receipts Donations and legacies 2 Charitable activities 3 Investment Income 4 Payments Cost of fundraising 5 Cost of charitable activities 6 Donations to Missions etc. Governance costs Administration costs Asset and investment purchase Purchase of equipment Total payments Net receipts/(payments) Transfers to/(from) funds Surplus/(deficit) for the year Reconciliation 31/12/2021 Cash at bank & in hand 31/12/2020 Surplus/(deficit) for the year Cash at bank & in hand 31/12/2021 |
Unrestricted Restricted Total Funds Funds 2021 £ £ £ 79,105 13,685 92,790 366 0 366 395 0 395 79,866 13,685 93,551 301 0 301 47,582 9,977 57,559 35,127 20,993 56,120 0 0 0 1,582 0 1,582 4,308 0 4,308 88,900 30,970 119,870 (9,034) (17,285) (26,319) (17,689) 17,689 0 (26,723) 404 (26,319) 168,111 15,309 183,420 (26,723) 404 (26,319) 141,388 15,713 157,101 |
Total 2020 £ 89,674 4,656 750 |
|---|---|---|
| 95,080 | ||
| 280 63,578 66,070 0 1,074 0 |
||
| 131,002 | ||
| (35,922) | ||
| 0 | ||
| (35,922) | ||
| 219,342 (35,922) |
||
| 183,420 |
5
LIMAVADY REFORMED PRESBYTERIAN CHURCH
Statement of Assets and Liabilities Year ended 31 December 2021
| Note Funds Reconciliation Cash at bank & in hand 31/12/2020 Surplus/(deficit) for the year Cash at bank & in hand 31/12/2021 Bank & Cash Balances Bank Deposit Accounts Bank Current Accounts Other Assets Fixed Assets 7 Investments Liabilities (Unrestricted Fund) Accountancy |
Unrestricted Restricted Funds Funds £ £ 168,111 15,309 (26,723) 404 |
Total Total 2021 2020 £ £ 183,420 219,342 (26,319) (35,922) 157,101 183,420 41,772 41,419 115,329 142,001 157,101 183,420 825 727 1,440 1,080 1,440 1,080 |
|---|---|---|
| 141,388 15,713 |
||
Approved by the trustees on 30 August 2022 and signed on their behalf by:
6
LIMAVADY REFORMED PRESBYTERIAN CHURCH Notes to the Accounts Year ended 31 December 2021
1. ACCOUNTING POLICIES
Basis of Financial Statements
As the total income of the congregation is less than £250,000 the congregation has 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 Freewill Offering Loose collections Special collections Gift Aid Legacies & bequests 3. Receipts from Charitable Activities Loans repaid by members Church history book sales General income 4. Investment Income Bank interest Franked Investment income 5. Cost of Fundraising FWO envelopes |
Unrestricted Restricted Total Funds Funds 2021 £ £ £ 64,087 0 64,087 540 0 540 0 12,525 12,525 14,478 1,160 15,638 0 0 0 79,105 13,685 92,790 0 0 0 366 0 366 0 0 0 366 0 366 356 0 356 39 0 39 395 0 395 301 0 301 301 0 301 |
Total 2020 £ 66,268 1,372 5,171 16,863 0 |
|---|---|---|
| 89,674 | ||
| 4,300 356 0 |
||
| 4,656 | ||
| 714 36 |
||
| 750 | ||
| 280 | ||
| 280 |
7
LIMAVADY REFORMED PRESBYTERIAN CHURCH Notes to the Accounts Year ended 31 December 2021
| 6. Cost of Charitable Activities Synodical target Minister salary and expenses Church & Manse running expenses Praise service Youth work Friendship group Church history booklets |
Unrestricted Restricted Total Funds Funds 2021 £ £ £ 0 9,977 9,977 33,286 0 33,286 13,633 0 13,633 0 0 0 0 0 0 663 0 663 0 0 0 47,582 9,977 57,559 |
Total 2020 £ 9,510 30,902 20,764 137 315 0 1,950 |
|---|---|---|
| 63,578 |
7. Fixed Assets
The congregation owns the Church premises and Hall at Greystone Road, Drumrane, Limavady, the manse at Rathmore Road, Limavady for the minister and the associated fixtures, fittings and equipment. These have an insurance value of £2,307,368.
8. Fund Balances
| Fund Unrestricted Funds General Fund Restricted Funds Building Fund Synodical Missions Butterfly Homes Relief Fund Appeal Total |
Balance at Receipts Payments Transfers 1/1/2021 £ £ £ £ 168,111 79,866 (88,900) (17,689) 15,309 404 0 0 0 2,489 (9,977) 7,488 0 4,992 (9,993) 5,001 0 2,950 (3,000) 50 0 2,850 (8,000) 5,150 15,309 13,685 (30,970) 17,689 183,420 93,551 (119,870) 0 |
Balance at 31/12/2021 £ |
|---|---|---|
| 141,388 | ||
| 15,713 0 0 0 0 |
||
| 15,713 | ||
| 157,101 |