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.
P a g e **|** 1
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.
- Through prayer, support our members, our own Church, other Christian Churches, the community and leaders in society and government.
- Organise meetings and events that promote our charitable purpose.
- Participate in the life of the local community.
- Participate in, and support the work of, the PCI and the supervising Presbytery.
- Support other secular and Christian organisations and charities through volunteering, financial gifts and prayer.
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.
P a g e **|** 2
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:
- weekly Sunday Worship;
- Prayer meetings;
- Life Groups, to continue our connection with the IMP, continue to develop relations with other denominations within the local community; and
- providing continued support and teaching/ Bible study to congregational member and nonmembers alike.
## **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).
P a g e **|** 4
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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the applicable Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
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
P a g e **|** 5
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:
- examine the accounts under section 65 of the Charities Act and paragraph 240 of the Presbyterian Code
- follow the procedures laid down in the general Directions given by the Commission under section 65(9)(b) of the Charities Act
- state whether particular matters have come to my attention.
## **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:
P a g e **|** 6
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.
P a g e **|** 7
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
**----- Start of picture text -----**
__________________
**----- End of picture text -----**
**----- Start of picture text -----**
__________________
**----- End of picture text -----**
Mrs Anna Shariati Mr Fergus Hanna Bell Treasurer Trustee
P a g e **|** 8
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.
P a g e **|** 9
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
P a g e **|** 10
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.
- **1.11 Cash and cash equivalents**
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**
- Estimates and judgements used in the preparation of these financial statements are reviewed and evaluated on an annual basis. These estimates and judgements are arrived at on the basis of experience and other factors, such as likelihood of future events occurring that are believed to be reasonable under the circumstances. The trustees do not consider that there are any critical judgements made in applying these accounting policies or that there are any critical accounting estimates or assumptions which may have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
## **3. Income**
Income for the period represents all cash received/ receivable during the period.
P a g e **|** 11
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|
|---|---|---|---|---|
||||||
|||
|||
||||||
|||||
|
P a g e **|** 12
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|
|||||||||
P a g e **|** 13
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.
P a g e **|** 14
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|
- The Buildings Freehold noted above includes all properties owned and occupied by the Charity: the Manse, located at 8 Cranmore Park, Belfast, BT9 6JG and the church building located at 34 Shaftesbury Square, Belfast, BT2 7DB. The title deeds for these properties are in the name of The Presbyterian Church In Ireland Holding Trustee Company, for the beneficial ownership of the congregation of South Kirk Presbyterian Church.
- 8 Cranmore Park, Belfast is recorded above at its Fair Value, this was based on an open market valuation that was undertaken in 2021 by a firm of independent estate agents. No depreciation has been charged against this asset.
- 34 Shaftesbury Square, Belfast is recorded at its Fair Value, this was based on an open market valuation that was undertaken in 2025, with an effective date of 1[st] January 2023. No depreciation has been charged against this asset. Historic Cost for this property is not available.
|**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|
P a g e **|** 15
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.
P a g e **|** 16
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**|
P a g e **|** 17
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.
P a g e **|** 18