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: ________________________ ________________________ 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|