## **THE ARDS PRESBYTERY OF THE PRESBYTERIAN CHURCH IN IRELAND** **Trustees Financial Statements for the year ended 31 December 2018** **Registered Charity in Northern Ireland (NIC106408)** 0 ## **THE ARDS PRESBYTERY OF THE PRESBYTERIAN CHURCH IN IRELAND TRUSTEES ANNUAL REPORT** The Trustees present their Financial Statements for the year ended 31 December 2018 including a Statement of Assets and Liabilities as at that date. ## **REFERENCE AND ADMINISTRATIVE DETAILS** The Ards Presbytery of the Presbyterian Church in Ireland Clerk of Presbytery, Rev J H Flaherty 17 Ballywalter Road Millisle BT22 2HS Registered Charity in Northern Ireland (NIC106408) ## **FINANCIAL REVIEW** The Presbytery’s main source of income is an assessment that is levied on the congregations assigned to it and £22670 was received in the current year (£19647 in previous year, 2017). Course Fees (Handling the Word) £ 1200 Investment Income £ 111 Total Income £23981 Total expenditure increased from £20401 to £22530. This includes a payment made to the Clerk of Presbytery for the responsibilities of that position and allowances paid to other appointed Presbytery personnel. Included in the total amount of expenditure £ 350 was paid to 3[rd] party charities as agreed. Given the total income and expenditure £ 1451 was held as surplus for the year and added to the total assets of Presbytery the balance held is £19815. 1 **TRUSTEES ANNUAL REPORT** Presbyteryan ## **STATEMENT OF TRUSTEE RESPONSIBILITIES** The Trustees are responsible for preparing the annual report and the financial statements of the Presbytery in accordance with applicable law and generally accepted accounting practice. As the Presbytery’s total income does not exceed £250,000, the Trustees have elected under Section 64(3) of the Charities Act (Northern Ireland) 208 to prepare a receipts and payment account and a statement of assets and liabilities. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Presbytery’s transactions and disclose with reasonable accuracy at any time its financial position. They are also responsible for safeguarding the assets of the Presbytery and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Presbytery at a meeting on 1st October 2019 and signed on its behalf by [Name] Rev Norman McAuley [Name] Rev John Flaherty [Date] 1[st] October 2019 [Date] 1[st] October 2019 2 **TRUSTEES ANNUAL REPORT** rresbyteran ## **INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE ARDS PRESBYTERY OF THE PRESBYTERIAN CHURCH IN IRELAND** ## **AUDITED ACCOUNTS** 3 **TRUSTEES ANNUAL REPORT** Presbyterian ## **THE ARDS PRESBYTERY OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the year ended 31 December 2018** ||**Note**|**Unrestricted**|**Restricted**|**Endowment**|**Total**|**Total**| |---|---|---|---|---|---|---| |||**Funds**|**Funds**|**Funds**|**2018**|**2017**| |||£|£|£|£|£| |**Receipts**||||||| |Donations and legacies|2|22670||22670 19647|22670 19647|22670 19647| |Charitable activities|3|1200||1200|1200|| |Investment Income|4|111||111|111
180|180| |Other|5|||||| |||----------|----------|----------|----------|----------| |||23981||23981 19827|23981 19827|23981 19827| |Sale of Investments||||||| |Sale of fixed assets||||||| |Loans Received||||||| |||----------|----------|----------|----------|----------| |**Total Receipts**||23981||23981|23981
19827|19827| |||----------|----------|----------|----------|----------| |**Payments**||||||| |Raising funds||||||| |Charitable activities|6|22530||22530 20401|22530 20401|22530 20401| |Investment costs||||||| |Other||||||| |||----------|----------|----------|----------|----------| |||22530||22530 20401|22530 20401|22530 20401| |Purchase of Investments||||||| |Purchase of fixed assets||||||| |Loan Repayments||||||| |||----------|----------|----------|----------|----------| |**Total Payments**||22530||22530 20401|22530 20401|22530 20401| |||----------|----------|----------|----------|----------| |Net receipts / (payments)||1451||1451|1451
(574)|(574)| |Transfers between funds||||||| |||----------|----------|----------|----------|----------| |Net movement in funds||1451||1451|1451
(574)|(574)| |Funds brought forward||18364||18364 18938|18364 18938|18364 18938| |||----------|---------|----------|----------|----------| |Funds carried forward|7|19815||19815 18364|19815 18364|19815 18364| |||======|======|======|======|======| 4 **TRUSTEES ANNUAL REPORT** ## Presbyteryan ## **THE ARDS PRESBYTERY OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF ASSETS AND LIABILITIES** ## **As at 31 December 2018** |**As at 31 December 2018**|||||| |---|---|---|---|---|---| ||**Unrestricted**|**Restricted**|**Endowment**|**Total**|**Total**| ||**Funds**|**Funds**|**Funds**|**Funds**|**Funds**| |||||**2018**|**2017**| ||£|£|£|£|£| |**Funds Reconciliation**|||||| |Bank and Cash at start of year|18364||18364 18938|18364 18938|18364 18938| |Net movement in funds|1451||1451|1451
(574)|(574)| ||----------|----------|----------|----------|----------| |Bank and Cash at end of year|19815||19815 18364|19815 18364|19815 18364| ||======-|=======|=======|=======|=======| |**Bank & Cash Balances**|||||| |Bank Current Accounts|8962||8962|8962
7611|7611| |Bank Deposit Accounts|10853||10853 10753|10853 10753|10853 10753| |Cash in Hand|||||| |||||----------|----------| ||||19815 18364|19815 18364|19815 18364| |||||=======|=======| |**Other Assets**|||||| |Fixed Assets – None|||||| |Investments – None|||||| |Gift Aid|||||| |(Receivable on donations) - None|||||| **Liabilities** Loans – None Other - None Approved by the Presbytery at a meeting on 1[st] October and signed on its behalf by [Name] Rev Norman McAuley [Name] Rev John Flaherty [Date] 1[st] October 2019 [Date] 1[st] October 2019 5 **TRUSTEES ANNUAL REPORT** Presbyterian ## **THE ARDS PRESBYTERY OF THE PRESBYTERIAN CHURCH IN IRELAND** ## **NOTES TO THE ACCOUNTS 31 December 2018** ## **1. ACCOUNTING POLICIES** ## **BASIS OF FINANCIAL STATEMENTS** As the total income of the presbytery is less than £250,000 the presbytery 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. These accounts do not incorporate the accounts of the congregations assigned to the Presbytery. These have a separate legal identity and are individually registered with the Charity Commission for Northern Ireland. ## **FUND ACCOUNTING** Endowment funds are funds, the capital of which must be retained either permanently or at the presbytery’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 presbytery 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 presbytery’s general purposes. Designated funds are general funds set aside by the presbytery for use in the future. ## **2. DONATIONS AND LEGACIES** ||**Unrestricted**|**Restricted**|**Endowment**|**Total**|**Total**| |---|---|---|---|---|---| ||**Funds**|**Funds**|**Funds**|**2018**|**2017**| ||£|£|£|£|£| |Assessments on congregations|22670||22670|22670|| |Donations and gifts|||||| |Gift Aid|||||| |Legacies and bequest|||||| ||----------|----------|----------|----------|----------| ||22670||22670|22670|| ||----------|----------|----------|----------|----------| 6 **TRUSTEES ANNUAL REPORT** Presbyterian ## **NOTES TO THE ACCOUNTS** ## **31 December 2018** ## **3. CHARITABLE ACTIVITIES** ||**Unrestricted**|**Restricted**|**Endowment**|**Total**|**Total**| |---|---|---|---|---|---| ||**Funds**|**Funds**|**Funds**|**2018**|**2017**| ||£|£|£|£|£| |Income from charitable activities|||||| |Handling the Word Course Fees|1200|||1200|| |Fundraising events|||||| |PW LInk|||||| |Grants|||||| ||----------|----------|----------|----------|----------| ||1200|1200||1200|| ||----------|----------|----------|----------|----------| |**4. INVESTMENT INCOME**|||||| ||**Unrestricted**|**Restricted**|**Endowment**|**Total**|**Total**| ||**Funds**|**Funds**|**Funds**|**2018**|**2017**| ||£|£|£|£|£| |Deposit interest|111|111||111|180| |General Investment Fund|||||| |Rents investment properties|||||| |Other investment income|||||| ||----------|----------|----------|----------|----------| ||111|111||111|| ||----------|----------|----------|----------|----------| |**5.**
**OTHER INCOME**|||||| Insurance claims Other income 7 **TRUSTEES ANNUAL REPORT** Presbyterian ## **NOTES TO THE ACCOUNTS (cont’d) 31 December 2018** **RAISING FUNDS** Fundraising events – None ## **6. CHARITABLE ACTIVITIES** ||**Unrestricted**|**Restricted**|**Endowment**|**Total**|**Total**| |---|---|---|---|---|---| ||**Funds**|**Funds**|**Funds**|**2018**|**2017**| ||£|£|£|£|£| |Presbytery ministry and support|19777|||19777|18654| |staff costs|||||| |Presbytery running expenses|1690|1690||1690|839| |Youth events|563|563||563|| |Donations to missions and|500|500||500|908| |charities|||||| |PW Link|||||| |Governance costs|||||| ||----------|----------|----------|----------|----------| ||22530|22530||22530|20401| ||----------|----------|----------|----------|----------| 8 **TRUSTEES ANNUAL REPORT** Presbyterian ## **THE ARDS PRESBYTERY OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont’d)** ## **31 December 2018** **7. FUND BALANCES** **----- Start of picture text -----**
|||||||| |---|---|---|---|---|---|---| |Fund|Balance|Receipts|Payment|Surplus /|Transfer|Balance| |at start|(Deficit)|at end| |£|£|£|£|£|£| |Unrestricted Funds| |General Fund|18364|23981|22530|1451|19815| |----------|----------|----------|----------|----------|----------| |18364|23981|22530|1451|19815| |----------|----------|----------|----------|----------|----------| |Restricted Funds| |PW Link| |----------|----------|----------|----------|----------|----------| |----------|-----------|-----------|-----------|-----------|----------| |Total|18364|23981|22530|1451|19813| |----------|----------|----------|----------|----------|----------| **----- End of picture text -----**
9 **TRUSTEES ANNUAL REPORT**