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2025-12-31-accounts

Docusign Envelope ID: 13FB84AB-8967-895D-83F2-B56122D8965F

South Kirk Presbyterian Church

Financial Statements

for the year ended 31[st] December 2025

Docusign Envelope ID: 13FB84AB-8967-895D-83F2-B56122D8965F

South Kirk Presbyterian Church
Charity Information
Principal address 34 Shaftesbury Square
Belfast
BT2 7DB
Trustees Barbara Lagan
Cecil Graham
Fergus Hanna Bell
Heather Hanna
Nell Cooke
Rev Ivan Steen
Tony Tham
Colin Houston
Karen Dawson
Robbie Montgomery (appointed 9 February 2025)
Salman Shariati (appointed 9 February 2025)
Becky Montgomery (appointed 9 February 2025)
Lauren Bingham (appointed 9 February 2025)
Josephine Bundu (appointed 9 February 2025)
Sarah Farling (appointed 9 February 2025)
Kirby O'Connor (appointed 9 February 2025)
Principal Office Minister – Rev Ivan Steen
Bearers: Clerk of Session – Colin Houston
Congregational Secretary – Gerry Lavery
Treasurer – Anna Shariati
Accountants JSR
44 Blackisland Road
Annaghmore
Portadown
BT62 1NE
Bankers Ulster Bank
11-16 Donegal Square East
Belfast
BT1 5HD
Charity Number 104213

Docusign Envelope ID: 13FB84AB-8967-895D-83F2-B56122D8965F

South Kirk Presbyterian Church

Contents

Page
Report of the Trustees 1 - 5
Independent Examiners report 6
Statement of Financial Activities 7
Balance sheet 8
Notes to the financial statements 9 - 18

Docusign Envelope ID: 13FB84AB-8967-895D-83F2-B56122D8965F

South Kirk Presbyterian Church Report of the Trustees for the year ended 31 December 2025

Structure, Governance and Management

The Trust (the Charity) is an unincorporated Trust, constituted under a Deed of Trust, and is registered as a Charity with H M Revenue & Customs (‘HMRC’) and Charity Commission for Northern Ireland. The Charity plans to continue to raise funds through its routine and special collections from within its congregation, raising supplementary income from various other sources such as investment income, all of which to serve the Charity’s objectives in the furtherance of the Christian belief.

South Kirk Presbyterian Church (‘South Kirk’) is a congregation of the Presbyterian Church in Ireland (‘PCI’) and established under the rules and constitution of PCI. It is a charity established for the advancement of religion (Christianity). In accordance with the Code of the PCI, the charity trustees are the elders of the church: the minister is the teaching elder, there are 15 ruling elders. Together these 16 people form the Kirk Session. The Kirk Session is responsible for the spiritual oversight of the Church. It also exercises oversight of the Congregational Committee which deals with congregational finances and property. The Kirk Session met ten times, and the Congregational Committee met approximately seven times. Elders / charity trustees are elected by voting members of the congregation in accordance with the Code of the PCI; once elected, they remain in office until they retire or resign.

The General Assembly is the supreme court of PCI in terms of legislative, administration and judicial authority. South Kirk has been assigned to the South Belfast Presbytery of PCI by the General Assembly for corporate oversight of its spiritual and temporal affairs.

Trustees

The Trustees who served during the year were as follows:

Barbara Lagan Cecil Graham Fergus Hanna Bell Heather Hanna Nell Cooke Rev Ivan Steen Tony Tham Colin Houston Karen Dawson Robbie Montgomery (appointed 9 Feb 2025) Salman Shariati (appointed 9 Feb 2025) Becky Montgomery (appointed 9 Feb 2025) Lauren Bingham (appointed 9 Feb 2025) Josephine Bundu (appointed 9 Feb 2025) Sarah Farling (appointed 9 Feb 2025) Kirby O'Connor (appointed 9 Feb 2025)

Risk Management

The Trustees actively review any major risks which the Charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources for the incoming year. The Trustees have also examined other operational and business risks faced by the Charity and confirm that they have established systems to mitigate the most significant risks.

Objectives

The Trustees have regard to the Northern Ireland Charity Commission's Public benefit requirements statutory guidance.

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Docusign Envelope ID: 13FB84AB-8967-895D-83F2-B56122D8965F

South Kirk Presbyterian Church Report of the Trustees

for the year ended 31 December 2025

The principal activity of the Charity is to hold services of worship and other religious activities. These, and all that follow, are open to anyone of appropriate age and/or gender to access, without regard to whether they are members of our congregation.

The main activities undertaken to further these aims are detailed in the "Achievements and performance" section of this report.

Achievements and Performance

South Kirk’s income is derived from weekly collections (‘freewill offering’) and other donations, legacies and gift aid.

Our services were conducted in full compliance with current regulations and guidance. One aspect of our services is that we integrated British Sign Language and Persian into our Services. We have a very strong connection with Kinghan Church for the Deaf. We have continued to develop our role with the International Meeting Point (‘IMP’) in South Belfast. Bible study, Prayers and counselling all continued.

The Trustees are most grateful to our Minister for his resolute determination in carrying out the work of South Kirk.

Statement of Activities for 2025

The following groups continued to consider issues and report back to Kirk Session:

Finance and Staffing Group Manse Subgroup Safeguarding Group Youth and Children Group Communication Group Reconfiguration Group

A special service took place on Sunday 9[th] February when 7 new elders were ordained and installed. The service was attended by members of a Commission from South Belfast Presbytery, and the following elders were installed: Lauren Bingham, Josephine Bundu, Sarah Farling, Becky Montgomery, Robbie Montgomery, Salman Shariati and Kirby O’Connor.

The Finance and Staffing Group was busy in 2025, initially in consideration of agreeing and updating contracts of employment and contracts for service, as appropriate for those post holders at South Kirk who receive remuneration.

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Docusign Envelope ID: 13FB84AB-8967-895D-83F2-B56122D8965F

South Kirk Presbyterian Church Report of the Trustees

for the year ended 31 December 2025

The Finance and Staffing Group also worked to draw up a Memorandum of Understanding for the work of Noah Bartlett at the IMP. This allowed South Kirk to continue with the valuable work at IMP in partnership with European Central Mission (‘ECM’) and a formal arrangement was drawn up to allow South Kirk to contribute financially towards Noah’s work at IMP.

A Men’s Breakfast started on Tuesday mornings from within the PCI owned Friendship House, in Blythe Street off Sandy Row. This effort was in partnership with Belfast City Mission, and the purpose was to reach out and establish links with men in the local community, building up trust and the opportunity to share faith and establish South Kirk within the community.

The Manse Subgroup continued efforts to secure a suitable replacement manse for Minister and his family to live in. The group also considered ongoing repair issues with the existing manse at 8 Cranmore Park.

The Safeguarding Group continued to meet and review safeguarding issues concerning activities at South Kirk church and other locations. The group continues to monitor and listen to events and guidance, from central church, following the revelations in November 2025 regarding PCI safeguarding failures.

The Communications Group investigates the use of social media for the promotion of church activities. A useful monthly newsletter is now circulated around church members and is proving a popular method of keeping people informed on church events.

The Reconfiguration Group concerned itself with identifying if the church layout suited the aims and objectives of the church. The group will commission a report on issues around building access and layout, security and whether a redesign of areas may better support the various church ministries, both current and future.

An Elders strategy away day was held on Saturday 21[st] June. The venue was Florida Manor in the countryside near Killinchy. Tools such as PESTLE, SWOT and the 5Rs analysis were adopted while the elders broke into groups to consider our current and future ministries, to better position our efforts to promote the objectives of the church. Ideas and outcomes from the day will be used to develop strategies and focus areas going forward.

Kirk Session was also busy throughout 2025 in following The Code to conduct an election process to officially constitute a working committee for South Kirk. The List of Voters was updated to allow the congregation to propose a suitable list of names, as candidates for committee. Session began considering the list of names selected in October and the work continues at time of writing.

A Congregational AGM was held after the service on Sunday 7[th] December. The accounts were presented for the year ended 31[st] December 2024, and were duly accepted and agreed by the congregation.

9 adult baptisms were recorded for 2025. Although 143 individuals were listed on the communion roll and more people participated, only 50 instances of communion were documented based on returned tokens.

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Docusign Envelope ID: 13FB84AB-8967-895D-83F2-B56122D8965F

South Kirk Presbyterian Church Report of the Trustees for the year ended 31 December 2025

While over 204 families are listed with pastoral connections, 66 families were registered as financial contributors to the church in 2025.

Financial Review

The Financial Statements are presented in the standard format required by the Charities SORP (FRS 102) 2015. The Statement of Financial Activities on page 7 shows the gross income from all sources for the year ended 31st December 2025.

The congregation’s main source of income is members’ contributions through the Freewill Offering. There were 66 (2024: 74) contributing families during the year. Donations received from the Freewill Offering totalled £60,411 (2024: 57,978), excluding Gift Aid.

Total income of the congregation during the year was £112,676 (2024: £184,392). In the prior financial year, the congregation received a large legacy donation of £62,924.

The expenditure for the year was £169,157 (2024: £202,514).

The charity reported an overall deficit for the year of £65,117 (2024: surplus £12,218).

The reserves of the Charity at 31 December 2025 totalled £2,680,260 (2024: £2,745,377).

Investment Policy

The Charity holds a long-term investment from which it receives annual dividend income. Apart from retaining a prudent amount in reserves each year most of the Charity’s funds are spent in the short term.

Reserves Policy

The Trustees aim to maintain sufficient reserves to enable the Trust to continue its humanitarian aid and Christian outreach at its current level, and if possible, to increase it.

Plans for the future

We are seeking to consolidate our position by living and serving out our Christian values. Our vision is one that seeks to breakdown borders between people in our community and beyond. This is achieved through:

Trustee responsibilities in relation to the accounts

The Charity Trustees are responsible for preparing a Trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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Docusign Envelope ID: 13FB84AB-8967-895D-83F2-B56122D8965F

South Kirk Presbyterian Church Report of the Trustees for the year ended 31 December 2025

The law applicable to charities in Northern Ireland requires the Charity Trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, of the Charity for that period. In preparing the financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the Charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the Charity and financial information included on the Charity's website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.

This report was approved by the Trustees and signed on its behalf by

Mr Colin Houston Rev Ivan Steen Trustee Trustee

Date: 22 May 2026

Date: 24 May 2026

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Docusign Envelope ID: 13FB84AB-8967-895D-83F2-B56122D8965F

South Kirk Presbyterian Church Independent examiner’s report to the Charity Trustees of ‘South Kirk Presbyterian Church’ Trust

I report on the accounts of the Trust for the year ended 31 December 2025, which are set out on pages 7 to 18.

Respective responsibilities of Charity Trustees and examiner

As the Charity’s Trustees you are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland) 2008 and the Presbyterian Code. It is my responsibility to:

Basis of independent examiner’s report

I have examined your Charity accounts as required under section 65 of the Charities Act and Paragraph 240 of the Presbyterian Code, and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act.

My examination included a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Charity Trustees concerning any such matters.

My role is to state whether any material matters have come to my attention giving me cause to believe:

  1. That accounting records were not kept in accordance with section 63 of the Charities Act

  2. That the accounts do not accord with those accounting records

  3. That the accounts do not comply with the accounting requirements of the Charities Act

  4. That there is further information needed for a proper understanding of the accounts to be reached.

Independent examiner’s statement

I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.

Jonathan Ross FCA

Chartered Accountant

44 Blackisland Road Annaghmore Portadown BT62 1NE

21 May 2026 Date:

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Docusign Envelope ID: 13FB84AB-8967-895D-83F2-B56122D8965F

South Kirk Presbyterian Church

Statement of Financial Activities

for the year ended 31 December 2025

For the period ended 31 December 2025
Incoming Resources
Notes
Incoming Resources from generated funds
Donations and legacies
4
Activities for generating funds
5
Investment income
6
Total Incoming Resources
Resources Expended
Charitable activities
7
Running Costs/ Administrative costs
8
Governance Costs
9
Total Resources Expended
Net incoming/ outgoing resources
before transfers
Gross transfers between funds
Net incoming resources before other
recognised gains and losses
Other recognised gains and losses
Gains/ (losses) on investment assets
11
Gains/ (losses) on disposal of fixed assets
Gains/ (losses) on exceptional items
Net movement in funds
Reconciliation of funds
Total funds brought forward
16,
17
Total funds carried forward
16,
17		 Unrestricted
Funds
Restricted
Funds
Total
Funds
£
£
81,367
13,671
95,038
90
200
290
17,348
-
17,348
98,805 13,871
112,676
102,729
28,854
131,583
34,426
800
35,226
2,348
-
2,348
139,503 29,654
169,157
(40,698)
(15,783)
(56,481)
-
-
-
(40,698)
(15,783)
(56,481)
(8,636)
-
(8,636)
-
-
-
-
-
-
(49,334)
(15,783)
(65,117)
1,666,463
1,078,914
2,745,377
1,617,129
1,063,131
2,680,260		 Prior year
£
153,640
4,361
26,391
184,392
142,579
45,475
14,460
202,514
(18,122)
-
(18,122)
5,527
24,813
-
12,218
2,733,159
2,745,377

All of the Charity’s activities derived from continuing operations during the period. The Charity has no recognised gains or losses other than those shown above and therefore no separate statement of total recognised gains and losses has been presented.

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The notes on pages 9-18 form part of these financial statements.

Docusign Envelope ID: 13FB84AB-8967-895D-83F2-B56122D8965F

South Kirk Presbyterian Church

Balance sheet
as at 31 December 2025
Notes:
2025
£
Investments
11
613,781
Fixed Assets
13
1,302,868
Current
Assets
Other Debtors
14
17,033
Cash at Bank and in hand
14
752,587
Liabilities
Other creditors and accruals
15
(6,009)
Total assets less current liabilities
2,680,260
Represented
by:
Unrestricted funds
16, 17
1,617,129
Restricted
funds
16, 17
1,063,131
16, 17
2,680,260		 2024
£
122,417
1,312,078
15,709
1,295,903
(729)
2,745,377
1,666,463
1,078,914
2,745,377

Approval of Account

The foregoing Balance Sheet Account was approved by the Trustees on 20[th] May 2026.

Signed on behalf of the Trustees

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______
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Mrs Anna Shariati Mr Fergus Hanna Bell Treasurer Trustee

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The notes on pages 9-18 form part of these financial statements.

Docusign Envelope ID: 13FB84AB-8967-895D-83F2-B56122D8965F

South Kirk Presbyterian Church Notes to the financial statements for the year ended 31 December 2025

1. Accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.1. Basis of preparation

The financial statements have been prepared in accordance with the provisions of the Charities Act (Northern Ireland) 2008 and the Presbyterian Code, and with applicable Accounting Standards. These financial statements have been prepared in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice FRS 102 (Charities SORP FRS102).

The accounts are prepared under the historical cost convention. The results of the Charity’s operations, which are described in the Trustee’s report, are all continuing.

The accounts have been prepared on the accruals basis.

1.2. Going Concern basis

The trustees have assessed the charities financial position and resources, they are satisfied that the charity has sufficient resources to provide a reasonable expectation that it can continue to meet its financial obligations as they fall due for the foreseeable future. Although the charity recorded a deficit in the year, it retains significant reserves and investments. Therefore these financial statements have been prepared on a going concern basis.

1.3 Cash flow statement

The Charity has taken advantage of the exemption provided by FRS102 and has not prepared a cash flow statement.

1.4 Funds Structure

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor.

Unrestricted funds comprise those funds, which the Trustees are free to use for any purpose in furtherance of the charitable objects.

The charity does not hold any endowment funds.

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Docusign Envelope ID: 13FB84AB-8967-895D-83F2-B56122D8965F

South Kirk Presbyterian Church Notes to the financial statements

for the year ended 31 December 2025

1.5 Incoming Funds

All incoming resources are recognised once the Charity has entitlement to the resources, it is certain that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability.

Plate collections and weekly envelopes are accounted for on a cash receipts basis as the amount is collected.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received, and the amount can be measured reliably and is not deferred.

Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation.

Legacies are included within income under either unrestricted or restricted funds according to the terms under which the donation is made and when the amount can be quantified with reasonable certainty. Donations and gifts in kind are brought into the accounts at their fair value to the charity.

1.6 Resources Expended

Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the Charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under heading that aggregate all costs related to the category.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

1.7 Value Added Tax

South Kirk Presbyterian Church is not registered for VAT.

1.8 Grants

Grants towards capital expenditure are released to the Statement of Financial Activities (‘SoFA’) over the expected useful life of the assets.

1.9 Depreciation

The cost of tangible fixed assets is their purchase cost, together with any incidental costs of acquisition. Depreciation is calculated to write off the cost of fixed assets, in equal annual instalments on the following basis:-

Land & Buildings: None

Computer & AV Equipment: 25% Straight line basis Fixtures, Fittings & Equipment: 25% Straight line basis

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Docusign Envelope ID: 13FB84AB-8967-895D-83F2-B56122D8965F

South Kirk Presbyterian Church Notes to the financial statements

for the year ended 31 December 2025

The properties held have been valued and are included at their Fair Value.

No depreciation has been charged against these assets as they are recorded at Fair Value.

1.10 Investments

Fixed asset investments comprising investment properties, investments in equities and investment in Unit Trusts are initially recorded at cost and are then subsequently stated at fair value at each balance sheet date. Investments in unquoted investments are recorded at cost and are assessed annually for impairment. Unrealised gains and losses represent the difference between the fair value at the beginning and end of the financial year or, if purchased in the year, the difference between cost and fair value at the end of the year. Realised gains and losses represent the difference between the proceeds on disposal and the fair value at the start of the year or cost if purchased in the year. Both realised and unrealised gains and losses in investments are reported within ‘Net Gains/ (Losses) on investments’ within the SoFA.

Cash and cash equivalents include cash in hand, deposits held at call with banks, other shortterm highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within Creditors Amounts falling due within 1 year.

1.12 Financial Instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transactional price and subsequently measured at their settlement value.

2. Accounting Judgements and estimations

3. Income

Income for the period represents all cash received/ receivable during the period.

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Docusign Envelope ID: 13FB84AB-8967-895D-83F2-B56122D8965F

South Kirk Presbyterian Church Notes to the financial statements

for the year ended 31 December 2025

4. Donations and legacies
Freewill offering
Gift Aid
Loose Collections
Special Collections and donations
United Appeal
Legacies
Raised for other charities
Grants Received
5. Activities for generating funds
Weddings, funerals, etc.
Corrymeela Retreat
Church Magazines
6. Investment income
Rental Income
Bank and Building Soc interest
Dividends		 Unrestricted
Restricted
£
£
60,411
-

15,020
2,051

4,373
-

-
3,260

-
5,799

1,563
-

-
601

-
1,960

81,367
13,671

Unrestricted
Restricted
£
£
90
-

-
-

-
200

90
200

Unrestricted
Restricted
£
£
-
-
14,366
-
2,982
-
17,348
-






Total
Funds
£
60,411
17,071
4,373
3,260
5,799
1,563
601
1,960
95,038
Total
Funds
£
90
-
200
290
Total
Funds
£
-
14,366
2,982
17,348		 Prior year
£
57,978
17,569
5,651
1,375
6,243
62,924
-
1,900
153,640
Prior year
£
-
4,281
80
4,361

Prior
year
£
2,565

20,932

2,894

26,391





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Docusign Envelope ID: 13FB84AB-8967-895D-83F2-B56122D8965F

South Kirk Presbyterian Church Notes to the financial statements for the year ended 31 December 2025

7. Charitable activities
General Assembly assessments
Presbytery Fees
United Appeal
Ministry and support services
Missions and charities
Courses/ training
Discretionary/ Welfare Fund
Corrymeela Retreat
Convenor's fees/ expenses
8. Running costs/ Admin expenses
FWO envelopes
Worship resources
Church Events
Church magazine and literature
Children’s and youth ministries
Advertising, Stationery & Postage
Computer costs
Heat and Light
Rent and Rates
Repairs and Maintenance
Insurance
Sundry
Bank fees
Depreciation (see Note 13)
9. Governance Costs
Independent Examination
Legal and Professional		 Unrestricted
Restricted
£
£
11,110
-
1,182
-
-
7,134
89,927
16,409
-
1,601
510
-
-
3,710
-
-
-
-
102,729
28,854
Unrestricted
Restricted
£
£
294
-
856
-
2,542
-
-
300
490
-
242
-
1,396
-
9,731
-
2,521
-
2,120
-
2,997
-
489
500
43
-
10,705
-
34,426
800
Unrestricted
Restricted
£
£
2,000
-
348
-
2,348
-		 Unrestricted
Restricted
£
£
11,110
-
1,182
-
-
7,134
89,927
16,409
-
1,601
510
-
-
3,710
-
-
-
-
102,729
28,854
Unrestricted
Restricted
£
£
294
-
856
-
2,542
-
-
300
490
-
242
-
1,396
-
9,731
-
2,521
-
2,120
-
2,997
-
489
500
43
-
10,705
-
34,426
800
Unrestricted
Restricted
£
£
2,000
-
348
-
2,348
-		 Total
Funds
£
11,110
1,182
7,134
106,336
1,601
510
3,710
-
-
131,583
Total
Funds
£
294
856
2,542
300
490
242
1,396
9,731
2,521
2,120
2,997
989
43
10,705
35,226
Total
Funds
£
2,000
348
2,348		 Prior year
£
9,825
955
8,681
108,591
-
-
3,914
9,508
1,105
142,579
Prior year
£
289
1,000
2,749
1,258
795
66
1,122
8,864
3,775
7,279
4,742
637
62
12,837
34,426
800		 45,475
Unrestricted
Restricted
£
£
2,000
-
348
-
2,348
-		 Prior
year
£
900
13,560
14,460

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Docusign Envelope ID: 13FB84AB-8967-895D-83F2-B56122D8965F

South Kirk Presbyterian Church Notes to the financial statements for the year ended 31 December 2025

10. Analysis of staff costs

Salaries and wages
Social Security
Pension contributions
Total		 2025
£
58,364
7,890
7,279
73,533		 2024
£
52,432
6,369
9,644
68,445

The average head count of employees during the year was 3 (2024: 2)

Minister
Assistant Minister
Premises maintenance		 2025
Number
1
1
1
3		 2024
Number
1
1
-
2

No employee received employee benefits of more than £60,000 during the year (2024: none)

11. Investments

. Investments
Valuation B/fwd
Additions
Disposals
Fair Value movement in year
Valuation C/ fwd		 2025
£
122,417
500,000
-
(8,636)
613,781		 2024
£
116,890
-
-
5,527
122,417

The fair value of the General Investment Fund is determined by reference to the quoted price for identical assets in an active market at the balance sheet date.

On 9[th] September 2025, South Kirk Presbyterian Church invested £500,000 in the General Investment Fund, acquiring 37,181 shares (see above).

12. Taxation

The charity is recognised as a charity for the purposes of applicable taxation legislation and as such is not subject to taxation on the income derived from its charitable activities.

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Docusign Envelope ID: 13FB84AB-8967-895D-83F2-B56122D8965F

South Kirk Presbyterian Church Notes to the financial statements for the year ended 31 December 2025

13. Tangible Fixed Assets
Cost
At 1 January 2025
Additions
Disposals
At 31 December 2025
Depreciation
At 1 January 2025
Charge
At 31 December 2025
Net Book Value
At 31 December 2025
At 31 December 2024		 Buildings
Computer &
Fixtures,
Fittings
Freehold
AV Equipment
& Equipment
£
£
£
1,300,000
54,351
4,342
-
-
1,495
-
-
-
1,300,000
54,351
5,837
-
43,358
3,257
-
9,470
1,235
-
52,828
4,492
1,300,000
1,523 1,345
1,300,000
10,993
1,085		 Total
£
1,358,693
1,495
1,360,188
46,615
10,705
57,320
1,302,868
1,312,078
14. Current Assets
Cash at bank and in hand
Other debtors
15. Creditors less than 1 year
Accruals		 2025
£
752,587
17,033
769,620
2025
£
6,009
6,009		 2024
£
1,295,903
15,709
1,311,612
2024
£
729
729

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Docusign Envelope ID: 13FB84AB-8967-895D-83F2-B56122D8965F

South Kirk Presbyterian Church Notes to the financial statements for the year ended 31 December 2025

16. Reconciliation of Reserves
B/fwd 1 January 2025
(Deficit)/ Surplus in year
C/fwd 31 December 2025		 Unrestricted
Restricted
£
£
1,666,463
1,078,914
(49,334)
(15,783)
1,617,129
1,063,131		 Total
Funds
£
2,745,377
(65,117)
2,680,260		 Prior year
£
2,733,159
12,218
2,745,377

 A detailed breakdown of the Unrestricted and Restricted accounts can be found at: Note 17 - Analysis of Charitable Funds.

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Docusign Envelope ID: 13FB84AB-8967-895D-83F2-B56122D8965F

South Kirk Presbyterian Church Notes to the financial statements for the year ended 31 December 2025

17. Analysis of Charitable Funds:

Unrestricted funds

Unrestricted funds
General funds
Manse reserve
Shaftesbury Sq - at MV
Restricted funds
United Appeal
Corrymeela retreat
Discretionary / welfare fund
Church buildings fund
Children's activities
Ministry support services
Other
Manse reserve
Mission fund
Presbyterian Women
Benevolent fund
Presbyterian Herald		 At 1 Jan
2025
Income Expenditure
Transfers
Gains
&
(losses)
At 31 Dec
2025
£
£
£
£
£
£
342,775
98,805
(139,503)
-
(8,636)
293,441
523,687
-
-
-
-
523,687
800,000
-
-
-
-
800,000
1,666,462
98,805
(139,503)
-
(8,636)
1,617,129
At 1 Jan
2025
Income Expenditure
Transfers
Gains
&
(losses)
At 31 Dec
2025
£
£
£
£
£
£
(13,659)
7,152
(7,134)
-
-
(13,640)
-
-
-
-
-
-
6,533
5,395
(3,710)
-
-
8,218
984,390
-
-
-
-
984,390
455
-
-
-
-
455
36,041
-
(17,409)
-
-
18,632
(127)
523
(500)
-
-
(104)
64,029
-
-
-
-
64,029
493
601
(601)
-
-
493
93
-
-
-
-
93
666
-
-
-
-
666
-
200
(300)
-
-
(100)
1,078,914
13,871
(29,654)
- - 1,063,131

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Docusign Envelope ID: 13FB84AB-8967-895D-83F2-B56122D8965F

South Kirk Presbyterian Church Notes to the financial statements for the year ended 31 December 2025

18. Trustee remuneration and expenses

The minister of the congregation, Rev Ivan Steen, is a trustee of the charity. The Minister received remuneration of £41,591 (2024; £40,175) and allowances of £7,388 (2024; £7,036) in his capacity as the Minister of the congregation. Pension contributions of £7,279 (2024; £9,644) were also paid to the Presbyterian Church in Ireland Pension Scheme (2009) in respect of Rev Steen.

A Trustee received £3,696 in connection with their role as Sunday School co-ordinator. This payment was made for services provided to the church.

No other trustees received any remuneration during the year in connection with their duties.

During the year the charity reimbursed several trustees for charity expenses paid personally by them on behalf of the Church. Expenses totalling £3,827 were reimbursed to 6 trustees.

19. Related parties

The Minister, Rev Ivan Steen is considered to be key management personnel of the charity. Total remuneration paid to Rev Steen by way of his employment with the Church is detailed in Note 18.

Rev Steen occupied residential church property at 8 Cranmore Park, Belfast (The Manse) in his role as Minister of the congregation. Rev Steen was not charged rent for use of this property.

During the year, a trustee received remuneration for services provided to the charity. Details of this arrangement are disclosed in Note 18.

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