The General Presbytery of the
Free Presbyterian Church of Ulster
Tru5tees' Annual Report and Financial Statements
Year ended 31 December 2023
The Charity Commission for Northern Ireland Number: 109137
HMRC Charities Reference Number: XN73190

The General Presbytery of the Free Presbyterian Church of Ulster
Statement of Financial Activities
For the year ended 31 December 2023
Unrestricted
funds
Restrlcted
funds
Total
2023
Total
2022
Note
Income frorn:
Donations and legacies
Charitable attivities
Investment income
Other income
Total income
9.325
51,773
92.988
11,874
306
156,941
61,098
92,988
14,381
233.267
401,734
31.158
92,358
5,650
199,246
328,412
2,507
232,961
244,793
Expenditure on:
Charitable activitie5
Other costs
Total expenditure
75,922
72,290
148,212
252,776
35,096
287,872
328,698
107,386
436,084
212.713
26,386
239.099
Net Income/(expenditurel before transfers
96,581
1130,9311
{34,350}
89,313
Transfers between funds
1119,8471
119,847
Net Income/lexpenditurel for the year
{23,2661
(11,0841
134,350)
89.313
Fund balances at 01 January 2023
368,401
4,182,385
4,550.786
4,461.473
Fund balances at 31 December 2023
345,135
4,171,301
4.516,436
4,550,786

The General Presbytery of the Free Presbyterian Church of Ulster
Statement of Assets and Liabilities
as at 31 December 2023
2023
2022
Note
Fixed Assets
Tangible Fixed Assets
2,839,733
2,839,733
Current Assets
Debtors
Bank and cash balances
66,500
1,625,918
1,692,418
91,500
1,628,113
1.719,613
Creditor5: due within one year
Accruals and deferred income
(15,715}
115,7151
(8,5601
{8,5601
Net Current Assets
1,676,703
1,711,053
Net Assets
4.516,436
4,550.786
Income Funds
Unrestrirted Funds
Restricted Funds
General
Income
Capital
345,135
368,401
1,331,568
2,839,733
1,342,652
2,839,733
4,171,301
4,182,385
Retained Reserves
io
4.516,436
4,550,786
The financial statements were approved by the Trustees on 23- OcToEkR-Io
behalf by:
and signed on their
Trust
Trustee

The General Presbytery of the Free Presbyterian Church of Ulster
Notes to the financial statements
For the year ended 31 December 2023
Principal accounting policies
The principal accounting policies adopted, judgements and key sources of estimation in the preparation
of the f inancial statements are as follows:
1.1 Basis of preparation
The financial Statements have been prepared in accordance with the Charities SORP IFRS102}
Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021 (second edition - October 20191.
The General Presbytery of the Free Presbyterian Church of Ulster is a registered charity INIC1091371 and
meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised
at historic c05t or transaction value unless otherwise stated in the relevant accounting policy notes.
1.2 Income recognition
All incoming resources are included in the Statement of Financial Activities when the charty is legally
entitled to the income after any performance conditions have been met, the amount can be measured
reliably and it is probable that the income will be received.
1.3 Donations
Donations are accounted for gross when received. Fixed asset gifts in kind are recognised when
receivable and are included at fair value.
1.4 Legacies
Legacies are accounted for when probate has been completed, the amount of the legacy can be reliably
quantified and the conditions of the legacy are within the control of the Presbytery.
1.5 Investment income
Investment income is included in the financial statements in the year in which it is receivable.
1.6 Expenditure recognition
All expenditure is accounted for on an accruals basis. Expenditure is recognised where there is a legal
or constructive obligation to make payments to third parties, it is probable that settlement will be
required and the amount of the obligation can be measured reliably.
1.7 Fixed assets
The tangible fixed assets are initially recorded at cost, or for donated assets, at a reasonable estimate of
their value on receipt.
The buildings have been recorded at the insurance value as no reliable information is available for the
cost of these buildings.

The General Presbytery of the Free Presbyterian Church of Ulster
Notes to the financial statements (contlnued)
For the year ended 31 December 2023
1.8 Funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general
objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by
donors or which have been raised by the charity for specific purposes. The cost of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted fund
is set out in the notes to the financial statements.
1.9 Preparation of accounts on a going concern basis
The General Presbytery of the Free Presbyterian Church of Ulster has prepared the financial statements
on a going concern basis. The balance sheet IS strong with continued support from donors and member
congregations.
io

The General Presbytery of the Free Presbyterian Church of Ulster
Note5 to the financial statements (continued)
For the year ended 31 December 2023
Donations and legacies
Unrestricted
Funds
Restrlrted
Funds
Totsl
2023
Total
2022
Donations and gifts
9.325
51,773
61,098
31,158
9,325
51,773
61,098
31,158
Charitable activitses
Unrestrlcted
Funds
Restricted
Funds
Totsl
2023
Total
2022
Income from conferences & events
Income from books, magazines, etc
51,477
41.511
51.477
41,511
51,059
41,299
92,988
92,988
92,358
Investment income
Unrestricted
Funds
Restricted
Funds
Totsl
2023
Total
2022
Bank interest receivable
2,507
11.874
14,381
5,650
2,507
11,874
14.381
5,650
Other Income
Unrestricted
Funds
Restrirted
Funds
Total
2023
Total
2022
Funds from related charities
Other income
232.961
232,961
306
197,555
1,691
306
232,961
306
233.267
199,246
li

The General Presbytery of the Free Presbyterian Church of Ulster
Notes to the financial statement5 (continued)
For the year ended 31 December 2023
Cost of charltable activities
2023
2022
Salaries and pensions
Direct activity expenses
Facilities expenses
Travelling expenses
Media and advertising
Insurance
Other expenses
11,213
160.361
75,485
22,273
16,966
38,482
3,918
13,712
110,969
38,041
14,817
17,993
15,749
1,432
328,698
212,713
Other expenditure
2023
2022
Grants and donations
Bank fees and charge5
Independent examiner's remuneration
Legal and professional fee5
88,137
815
6,330
12,104
15,448
766
6,090
4,082
107,386
26,386
Tansible fixed assets
Buildings
Total
Cost
As at Oljanuary 2023
Additions
Revaluations
2,839,733
2,839,733
As at 31 De￿mber 2023
2.839,733
2,839,733
Depreciation
As at 01 January 2023
Charge for the year
£ at 31 December 2023
Net Book Value
As at 31 December 2023
2,839,733
2,839,733
As at 31 December 2022
2,839,733
2.839,733
12

The General Presbytery of the Free Presbyterian Church of Ulster
Notes to the flnancial statements Icontinuedl
For the year ended 31 December 2023
Debtors
2023
2022
Loan5 to Churches
66,500
91,5CKI
66,5(Ki
91,500
10 Reserves
Unrestrlcted
funds
Restricted
funds
Total
2023
Totsl
2022
Reserves bl￿d
368,401
4,182,385
4,550,786
4,461,473
Net movement in funds
123,2661
111,0841
134,3501
89,313
Reserves clfvid
345,135
4,171,301
4.516,436
4,550,786
11 Fund balances
Openlng
balance
Incoming
resources
Resources
expended
Closing
balance
Transfers
Unrestrlrted funds
General fund
368,401
244,793
1148,2121
1119.8471
345,135
368.401
244,793
(148,2121
1119,8471
345,135
Restricted funds
Education Board
Loan Fund
Ministers Retirement Fund
Sunday School Account
Ministers Pension Fund
Hymn Book Fund
Youth Council
Government and Morals
Prison Chaplains
Congress Fund
Consider Christ
FPCNA- Current Magazine
Publications and Media
Ballygowan Graveyard
Student Fellowship
29,378
392,792
3,556,531
18,753
16
31,353
17,945
261
5,446
7,022
45,455
11,264
24,301
40,662
1,206
22,165
5,855
10,417
28
127,3811
1341
177,5991
24,162
398,613
3.589,349
18,781
16
31,180
9.039
232
4,311
6.999
36,620
10,164
21,981
19,184
670
loo,000
14
42,856
11871
171,6091
1291
112,3991
1301
131,0501
15,7501
117,3811
{43,6361
17871
19,847
11,264
22,215
4,650
15,061
22.158
251
4,182,385
156,941
1287,8721
119,847
4,171,301
13

The General Presbytery of the Free Presbyterian Church of Ulster
Notes to the flnancial statements (continued)
For the year ended 31 December 2023
12 Analysls of net assets between lunds
Unrestrlcted
funds
Restricted
funds
Total
2023
Total
2022
Fixed assets
Current assets
Current liabilities
2,839,733
1,340,953
19,3851
2,839,733
1,692,418
115,7151
2,839.733
1,719,613
18,5601
351,465
16,3301
Total funds
345,135
4,171,301
4.516,436
4,550,786
14