2024-12-31-accounts

All Souls' Church incorporating The Second Presbyterian Congregation of Belfast and The York Street Non-Subscribing Presbyterian Congregation

(All Souls Church Belfast)

Financial Statements for the year ended 31st December 2024

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All Souls Church Belfast

Financial Statements for the year ended 31st December 2024

Receipts and Payments Account

Receipts Voluntary giving Donations & Bequests Fundraising Gift Aid Investment Income Rental Income Other Income received Payments Cost of Fundraising Charitable Activities Governance Costs Before transfers between funds Transfers between Funds Net Operating Surplus/ (Deficit)	Unrestricted Restricted Endowment Funds Funds Funds £ £ £ 32,369 0 6,395 0 0 50 0 0 4,966 0 0 32,042 0 0 28,433 0 0 0 5,024 104,255 5,024 0 0 0 0 83,613 5,315 0 0 0 0 83,613 5,315 0 20,642 (291) 0 0 0 20,642 (291) 0	Total Total 2024 2023 £ £ 32,369 33,181 6,395 3,720 50 367 4,966 4,194 32,042 30,049 28,433 27,740 5,024 1,566 109,279 100,817 0 0 88,928 87,747 0 0 88,928 87,747 20,351 13,070 0 0 20,351 13,070

During the year the proceeds of Maturity of Term Deposits amounted to nil (2023: £148,917) and re-invested in Term Deposits and other Investments £nil (2023: £148,917)

The reconciliation of the receipts and payments shown above to the total funds of the Church is disclosed on the following page under the Statement of Assets and liabilities

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All Souls Church Belfast

Financial Statements for the year ended 31st December 2024

Statement of Assets & Liabilities

Reconciliation of Receipts and Payments Account

Unrestricted Funds £ Opening Funds at beginning of year 677,295 Surplus/ (Deficit) for the year 20,642 697,937 Purchase of Investments in year Increase/ (Decrease) in Value 12,906 Interest on Maturity of Term Deposits 0 Closing Funds at end of year 710,843 Held as followings: Ulster Bank Bank Deposit term Accounts Investments: M & G Charifund	Restricted Funds £ 1,271 (291) 980 0 980	Endowment	Endowment	Total Total 2024 2023 £ £ 686,770 683,545 20,351 13,070 707,121 696,615 0 30,000 12,906 (42,262) 0 2,417 720,027 686,770 2024 2023 63,962 43,611 148,917 148,917 507,148 494,242 720,027 686,770
			Funds
			£ 8,204 0 8,204 8,204

The investments in M&G Charitfund are managed by M&G.

M & G Charifund objectives and investment approach can be found on their website.

Non-monetary Assets (not included above)

Church & Contents Hall & Contents Interest in residential Property		Unrestricted Funds 5,722,065 1,596,856 45,000 7,363,921	Restricted Funds 0 0	Endowment Total Total Funds 2024 2023 0 5,722,065 5,539,269 1,596,856 1,545,843 45,000 45,000 0 7,363,921 7,130,112

The value of the Church & Hall (which have listed status) is based on the Current Insurance cover (index linked).

The charity also has an interest in residential property. The Charity's interest shown above, is based on the Land & Property Services valuation of the property.

Statement of Material Liabilities

The Trustees are not aware of any material liabilities at the date of this Report

Approved by the Trustees on 4th March 2025 and signed on their behalf by:-

Mrs L Foyle, Treasurer

Rev. C Hudson MBE, Minister

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All Souls Church Belfast

Financial Statements for the year ended 31st December 2024

Notes to the Accounts

Basis of Accounting under Receipts & Payments

Revenue that the Charity is entitled to is recorded when received, expenditure that the Charity incurred is recorded when paid.

Purpose and nature of funds

Unrestricted fund : These are funds that have been received carrying no restriction on their use and are put to purpose at the discretion of the trustees in furtherance of the objects of the Charity. Within this fund we have designated funds. Of those which are specific to the property, the basis for making these provisions is given the age of the Church Building and the Hall and their respective listed status ,we would anticipate major expenditure in the future and require these provisions to meet the same.

Restricted funds: are funds subject to specific trusts, which are declared by the donor(s) and are expendable by the trustees in furtherance of some particular aspect(s) of the objects of the charity. These funds are subject to restriction (as to their use) imposed by those from whom the funds are obtained. Resources received but not yet expended at the end of the financial year are retained as a reserve.

Endowment funds: where there is no power to convert the capital into income, these are known as a permanent endowment funds and the capital is normally held indefinitely. Where trustees have the power to convert the capital into income, such funds are known as expendable endowments.

Any endowment funds held by the Charity are classified as "permanent".

Trustee benefits (in total) Remuneration Reimbursed expenses	2024 2023 33,564 31,060 3,500 3,500

As explained in the Trustees Report, the only private benefit flowing in relation to the trustees is to those in paid employment within our congregation who receive benefits as a result of their holding office or employment. However, this is incidental and necessary in order to further our charitable purpose. There are no other private benefits not disclosed.

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All Souls Church Belfast

Financial Statements for the year ended 31st December 2024

RECEIPTS: Voluntary Giving Stipend Plate Collections Special Collections Donations & Bequests Bequests Wedding, Funerals & Baptisms Other Donations Fundraising Other Gift Aid received Investment Income Investments Bank Interest Rental Income Rosemary Hall Hire Car Parking rental Other Income Grants Received Received for other charitable causes Sundry Total Receipts	Unrestricted Restricted Endowment Total Total Funds Funds Funds 2024 2023 £ £ £ £ £ 26,524 26,524 27,487 5,845 5,845 5,694 0 0 0
	32,369 0 0 32,369 33,181
	6,395 6,395 3,720 0 0 0
	6,395 0 0 6,395 3,720
	0 0 0 50 50 367
	50 0 0 50 367
	4,966 4,966 4,194
	31,385 31,385 29,572 657 657 477
	32,042 0 0 32,042 30,049
	11,340 11,340 13,648 17,093 17,093 14,092
	28,433 0 0 28,433 27,740
	0 0 1,200 0 5,024 5,024 366 0 0 0
	0 5,024 0 5,024 1,566
	104,255 5,024 0 109,279 100,817

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All Souls Church Belfast

Financial Statements for the year ended 31st December 2024

PAYMENTS: Charitable Activities Staff Costs Minister's Stipend Manse Allowance Minister's Expenses Director of Music Church Officer Locum Pulpit supply Locum Organist supply Establishment Costs Ground Rent Insurance Electricity Heating oil Water charges Building & Grounds Repairs Regulatory & Service charges Assets purchased & Improvements Advertising, Print & Stationery Telephone & Internet IT Costs Denominational Donations Sunday School & Youth expenses Choir & Music Bank Fees Professional Fees Sundry expenditure Paid to other charitable causes Governance Cost AGM Meeting expenses Total payments	Unrestricted Restricted Endowment Total Total Funds Funds Funds 2024 2023 £ £ £ £ £ 33,820 33,820 31,316 6,905 6,905 6,905 3,500 3,500 3,500 7,476 7,476 6,924 8,090 8,090 7,116 630 630 280 420 420 360
	60,841 0 0 60,841 56,401
	60 60 60 3,895 3,895 3,789 3,594 3,594 3,440 5,470 5,470 4,007 1,129 1,129 919 3,293 3,293 2,548 2,415 2,415 2,110 0 0 10,877 194 194 179 149 149 140 688 688 182 1,608 1,608 1,945 0 0 51 0 0 42 145 145 307 132 132 750 0 0 0 0 5,315 5,315 0
	22,772 5,315 0 28,087 31,346
	83,613 5,315 0 88,928 87,747
	0 0 0 0 0
	0 0 0 0 0
	83,613 5,315 0 88,928 87,747

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