2023-12-31-accounts

4

LIMAVADY REFORMED PRESBYTERIAN CHURCH

Statement of Financial Activity (Receipts and Payment Account) Year ended 31 December 2023

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 31/12/2023 Cash at bank & in hand 31/12/2022 Surplus/(deficit) for the year Cash at bank & in hand 31/12/2023	Unrestricted Restricted Total Funds Funds 2023 £ £ £ 80,801 7,769 88,570 332 0 332 688 0 688 81,821 7,769 89,590 147 0 147 30,652 13,280 43,932 26,500 16,210 42,710 0 0 0 1,824 0 1,824 0 0 0 59,123 29,490 88,613 22,698 (21,721) 977 (22,421) 22,421 0 277 700 977 109,016 16,289 125,305 277 700 977 109,293 16,989 126,282	Total 2022 £ 90,087 360 323
		90,770
		314 67,337 51,460 0 1,972 1,483
		122,566
		(31,796)
		0
		(31,796) 157,101 (31,796)
		125,305

5

LIMAVADY REFORMED PRESBYTERIAN CHURCH

Statement of Assets and Liabilities Year ended 31 December 2023

Note Funds Reconciliation Cash at bank & in hand 31/12/2022 Surplus/(deficit) for the year Cash at bank & in hand 31/12/2023 Bank & Cash Balances Bank Deposit Accounts Bank Current Accounts Other Assets Fixed Assets 7 Investments Liabilities (Unrestricted Fund) Accountancy	Unrestricted Restricted Funds Funds £ £ 109,016 16,289 277 700	Total Total 2023 2022 £ £ 125,305 157,101 977 (31,796) 126,282 125,305 43,379 42,259 82,903 83,046 126,282 125,305 761 779 2,160 1,800 2,160 1,800
	109,293 16,989

Approved by the trustees on 23 October 2024 and signed on their behalf by:

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6

LIMAVADY REFORMED PRESBYTERIAN CHURCH Notes to the Accounts Year ended 31 December 2023

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 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 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 Friendship group 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 2023 £ £ £ 66,113 0 66,113 1,597 0 1,597 0 6,648 6,648 12,791 1,121 13,912 300 0 300 80,801 7,769 88,570 170 0 170 162 0 162 0 0 0 332 0 332 643 0 643 45 0 45 688 0 688 147 0 147 147 0 147	Total 2022 £ 61,049 2,305 10,010 15,653 1,070
		90,087 360 0 0
		360 279 44
		323 314
		314

7

LIMAVADY REFORMED PRESBYTERIAN CHURCH Notes to the Accounts Year ended 31 December 2023

6. Cost of Charitable Activities Synodical target Minister salary and expenses Church & Manse running expenses Youth work Friendship group Women's fellowship	Unrestricted Restricted Total Funds Funds 2023 £ £ £ 0 13,280 13,280 0 0 0 29,143 0 29,143 221 0 221 788 0 788 500 0 500 30,652 13,280 43,932	Total 2022 £ 10,280 30,740 24,942 407 968 0
		67,337

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 £2,666,454.

8. Fund Balances

Fund Unrestricted Funds General Fund Restricted Funds Building Fund Synodical Missions Turkey Earthquake Appeal Fund Total	Balance at Receipts Payments Transfers 1/1/2023 £ £ £ £ 109,016 81,821 (59,123) (22,421) 16,289 700 0 0 0 1,887 (13,280) 11,393 0 2,527 (11,950) 9,423 0 2,655 (4,260) 1,605 16,289 7,769 (29,490) 22,421 125,305 89,590 (88,613) 0	Balance at 31/12/2023 £
		109,293 16,989 0 0 0
		16,989
		126,282