MALONE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the year ended 31 December 2024
| Notes Incoming Resources Regular Direct Giving 1 Gift Days and Special Collections 2 Activities that Generate Income 3 Investment Income 4 Other Income Sources 5 Total Incoming Resources Resources Expended Central Church Assessments 6 Ministry and Support Staff 7 Life and Work 8 Governance 9 Property and Equipment 10 Grants to Missions and Charities 11 Total Resources Expended Net Incoming/(Outgoing) Resources before transfers Bequests and Memorial Gifts Capital Expenditure 12 Transfers Gross Transfers between funds - In Gross Transfers between funds - out Net Incoming/Outgoing Resources before other gains/losses Other recognised gains/losses Gains on revaluation of assets Net Movements in Funds Total Funds Brought Forward Total Funds Carried Forward |
Unrestricted £ 132,956 1,600 11,523 28,288 9,600 183,967 34,965 98,361 8,513 5,750 75,324 222,913 (38,946) 25,500 (13,446) 8,651 (4,795) 257,328 252,533 |
Restricted £ 26,484 378 26,862 10,440 11,570 22,010 4,852 4,500 (10,843) (1,491) - (1,491) 37,471 35,980 |
Endowment £ 14,469 14,469 429,417 443,886 |
2024 £ 132,956 28,084 11,523 28,666 9,600 210,829 34,965 98,361 8,513 16,190 75,324 11,570 244,923 (34,094) 30,000 (10,843) (14,937) 23,120 8,183 724,216 732,399 |
2023 £ 134,924 17,459 11,713 27,027 9,600 |
|---|---|---|---|---|---|
| 200,723 | |||||
| 31,529 91,780 7,317 2,788 45,033 14,481 |
|||||
| 192,928 | |||||
| 7,795 1,000 |
|||||
| 8,795 2,870 |
|||||
| 11,665 712,551 |
|||||
| 724,216 |
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MALONE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF ASSETS AND LIABILITIES As at 31 December 2024
| Notes Tangible Fixed Assets Fixed assets Investments 13 14 Current Assets Cash at bank and in hand Total assets Unrestricted Funds Restricted Funds Endowment Funds Total Funds |
2024 £ 637,078 95,321 732,399 732,399 252,533 35,980 443,886 732,399 |
2023 £ 613,957 110,259 |
|---|---|---|
| 724,216 | ||
| 724,216 | ||
| 257,328 37,471 429,417 |
||
| 724,216 |
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MALONE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2024
1. ACCOUNTING POLICIES
BASIS OF FINANCIAL STATEMENTS
As the total income of the congregation is less than £250,000 the congregation have elected in accordance with the provisions in The Charities (Accounts and Reports Regulations (Northern Ireland) 2015 to prepare its accounts on a receipts and payments basis.
FUND ACCOUNTING
Endowment funds are funds, the capital of which must be retained either permanently or at the congregation’s discretion; the income derived from the endowment is to be used either as restricted or unrestricted income funds depending upon the purpose for which the endowment was established in the first place.
Restricted funds comprise (a) income from endowments which is to be expended only on the restricted purposes intended by the donor and (b) revenue donations or grants for a specific congregational activity intended by the donor. Where these funds have unspent balances, interest on their pooled investment is apportioned to the individual funds on an average balance basis.
Unrestricted funds are income funds which are to be spent on the congregation’s general purposes. Designated funds are general funds set aside by the congregation for use in the future.
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MALONE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (Cont’d) 31 December 2024
| 1 1. Regular Direct Giving Recorded Giving (FWO) Gift Aid received on Recorded Giving and GASDS Loose Collections 2. Gift Days and Special Collections Mission Fund Other PCI Schemes Other Donations 3. Activities that Generate Income Church Magazines Donations to Heat and Light 4. Investment Income Bank and Building Society Interest Other Investment Income 5. Other Income Sources Rental Income |
2024 £ 104,379 28,366 211 132,956 24,854 1,630 1,600 28,084 304 11,219 11,523 337 28,329 28,666 9,600 9,600 |
2023 £ 105,370 27,638 1,916 |
|---|---|---|
| 134,924 | ||
| 9,942 3,407 4,110 |
||
| 17,459 | ||
| 84 11,629 |
||
| 11,713 | ||
| 398 26,629 |
||
| 27,027 | ||
| 9,600 | ||
| 9,600 |
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MALONE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (Cont’d) 31 December 2024
| 6. Central Church Assessments Central Ministry Fund Ministers' Pension Scheme Fund Communications Dept Widows of Ministers Fund Incidental Fund Prolonged Disability Fund Sick Supply Fund Assembly Buildings External Work Presbytery Fees Minister's National Insurance Students Bursary Fund Ministerial Development Fund 7. Ministry and Support Staff Minister Other Ministry and Support Staff 8. Life and Work Worship and Fellowship Discipleship and Ministry Mission and Outreach 9. Governance Professional Fees Advertising, Printing, Stationery and Postage Other Sundry Expenses Bank Interest and Charges |
2024 £ 5,493 10,395 1,538 988 3,954 769 22 1,976 1,722 5,692 2,306 110 34,965 50,348 48,013 |
2023 £ 4,650 9,900 - 950 3,803 950 42 2,113 1,371 5,431 1,896 423 31,529 48,450 43,330 |
||
|---|---|---|---|---|
| 98,361 | 91,780 | |||
| 1,248 1,811 5,454 |
2,681 2,122 2,514 |
|||
| 8,513 | 7,317 | |||
| 10,440 2,624 2,861 265 |
- 687 1,838 263 |
|||
| 16,190 | 2,788 |
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MALONE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (Cont’d) 31 December 2024
| 10. Property and Equipment Utilities Repairs and Maintenance Insurances 11 Grants to Missions and Charities United Appeal Other PCI Schemes Other Missions and Charities 12 Capital Expenditure Boiler for halls Woodburner Stove for manse |
2024 £ 22,513 42,822 9,989 75,324 9,675 1,630 265 11,570 9,541 1,302 10,843 |
2023 £ 18,055 17,623 9,355 |
|---|---|---|
| 45,033 | ||
| 10,884 1,702 1,895 |
||
| 14,481 | ||
13. Fixed Assets
Fixed Assets comprise Malone Presbyterian Church, Paton Memorial Halls and the Manse at 63 Old Forge Manor and are insured for the sum of £8,166,376. The title to the property is vested in "The Holding Trustee Company of the Presbyterian Church in Ireland ", a body corporate of Church House, as Trustees of Malone Presbyterian Church. A re-valuation for insurance purposes was carried out during 2006.
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MALONE PRESBYTERIAN CHURCH CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (Cont’d)
31 December 2024
| estments held at the year end. M & G Charifund Accumulation Units M & G Charifund Income Units PCI General Investment Account Units |
2024 £ 65,398 410,029 161,649 637,076 |
2023 £ 59,993 399,612 154,352 |
|---|---|---|
| 613,957 |
14. Investments
The figures below represent the value of investments held at the year end.
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