## **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**
**ll l h h lf**
**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**_
Page 2
**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.
Page 3
## **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|
Page 4
## **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|
Page 5