an
FINAGHY LOWE MEMORIAL PRESBYfERIAN CHURCH
a Congregation of The Presbyterian Church In Ireland
STATEMENT OF FINANCIAL ACTIVITY
for the year ended 31 December 2024
Note
Unrestricted Restricted
Funds
Funds
Total
Funds
2024
Total
Funds
2023
Income and Endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investments
266,050
64,055
11,543
1,065
37,740
32,802
303,790
96,857
11,543
1,065
313,840
99,640
6,271
749
Total
342,713
70,542
413,255
420,500
Expendlture on:
Raising funds
Charltable activities
695
389,450
695
453,572
695
430,551
64,122
Total
390,145
64,122
454,267
431,246
Net Income / lexpendlturel
Transfers between funds
(47,432)
483
6,420
14831
(41,012)
{10,746)
Net movement In funds
Reconciliation of funds:
Total funds brought forward
146,9491
5,937
{41,012)
110,7461
1,344,492
42,859 1,387,351
1,398,097
Total funds carroed fonvard
1,297,543
48,796 1,346,339
1,387,351
131Page

an
FINAGHY LOWE MEMORIAL PRESBYfERIAN CHURCH
a Congregation of The Presbyterian Church In Ireland
BALANCE SHEEr
As at 31 December 2024
Notes
Unrestricted
Funds
Restrirted
Funds
Total
Funds
2024
Total
Funds
2023
Fixed assets..
Tangible assets
io
1156 198
1156 198 1221002
Total fixed assets
1156 198
Current assets
Debtors
li
8,727
226 391
2,012
10,739
14,876
Cash at bank and in hand
12
273 175 246 43
Total Current assets
235 118
283
48 796 ￿14
261311
Uabllltles:
Creditors: Amounts falllng due
within one year
Net current assets or (Ilabllltles)
Total net assets or Ilabllltles
13
Funds of the charlty
Restrlrted income funds
14
48,796
48,796
42,859
Unrestrlrted funds
14
1344 492
Total charlty funds
Approved by the Kirk Session at a meeting on 18 February 2025 and signed on its behalf by
Rev Dr J Mccracken
Minister
J White
Hon Treasurer
18 February 2025
18 February 2025
141Page

Presbyter
an
FINAGHY LOWE MEMORIAL PRESBYfERIAN CHURCH
a Congregation of The Presbyterian Church In Ireland
NOTESTOTHE AcCou￿rS
31 December 2024
ACCOUNTING POLICIES
BASIS OF FINANCIAL STATEMENTS
The financial statements have been prepared in accordance with Accounting and Reporting
by Charities: Statement of Recommended Practice applicable to charities preparing their
accounts in accordance with Financial Reporting Standard applicable in the UK and Ireland
{FRS102) (effective l January 2015).
The financial statements have been prepared under the historical cost convention except
for investment assets, which are shown at market value. The financial statements include all
transactions, assets and liabilities for which the congregation is responsible in law. They do
not include the accounts of church groups that owe their affiliation to another body, nor
those that are informal gatherings of church members.
FUND ACCOUNTING
Restricted funds comprise 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 congregatlon's general
purposes. Designated funds are general funds set aside by the congregation for use in the
future.
INCOMING RESOURCES
(l) Recognltlon of incomlng resources
These are included in the Statement of Financial Activities (SOFA) when:
the congregation becomes entitled to the resources:
the trustees are virtually certain they will receive the resources; and
the monetary value can be measured with sufficient reliably.
151 Page

an
FINAGHY LOWE MEMORIAL PRESBYfERIAN CHURCH
a Congregatlon of The Presbyterian Church In Ireland
NOTES TO THE ACCOUNTS
31 December 2024
ACCOUNTING POLICIES (cont'd)
{ii) Incoming resources with related expenditure
Where incoming resources have related expenditure {as with fundraising income) the
incoming resources and related expenditure are reported gross in the SOFA.
(iii) Grants and donatlons
Grants and donations are only included in the SOFA when the congregation has
unconditional entitlement to the resources.
(Iv) Tax reclalms on donations and glfts
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift
to which they relate.
(v) Contractual Income and performance related grants
This is only included in the SOFA once the related goods or services have been delivered.
(vl) Glfts In kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the
amount actually realised and are included in the SOFA as incoming resources when
receivable.
Ivli) Donated service5 and facllltles
These are only included in incoming resources (with an equivalent amount in resources
expended) where the benefit to the charity is reasonably quantifiable, measurable and
material. The value placed on these resources is the estimated value to the charity of the
service or facility received.
(viii) Volunteer help
The value of any voluntary help received is not included in the accounts but 15 described in
the trustees, annual report.
(ix) Investment income
This is included in the accounts when receivable.
161 Page

Presbyter
an
FINAGHY LOWE MEMORIAL PRESBYfERIAN CHURCH
a Congregation of The Presbyterian Church In Ireland
NOTES TO THE AccouKrs
31 December 2024
ACCOUNTING POUCIES (convd)
EXPENDITURE AND LIABILITIES
{x) Liability recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing
the congregation to pay out resources.
{xl) Governance costs
These are shown within charitable activities and include the costs of preparation and
examination of accounts, the costs of trustee meetings and cost of any legal advice to
trustees on governance or constitutional matters.
(xll) Grants payable without performance conditions
These are only recognised in the accounts when a commitment has been made and there
are no conditions to be met relating to the grant which remain in the control of the charity.
ASSErs
(xlll) Tangible Fixed Assets
Tanglble fixed assets for use by charlty are capitalised if they can be used for more than one
year, and cost at least £500. They are valued at cost or, if gifted, at the value to the charity
on receipt.
Depreciation is recorded on all tangible fixed assets other than freehold land, at rates
calculated to write of the cost, less estimated residual value, of each asset over its expected
useful life as follows
Buildings:
Building internal refurbishment
Fixtures, fittings and equipment
Soft furnishings
Computers. software and technical equipment
- over 50 years
over 20 years
over 10 years
over 5 years
- over 2 years
171 Page

an
FINAGHY LOWE MEMORIAL PRESBYfERIAN CHURCH
a Congregatlon of The Presbyterlan Church In Ireland
NOTES TO THE ACCOUNTS (cont'd)
31 December 2024
DONATIONS AND LEGACIES
Unrestricted Restricted Total
Funds
Funds
Funds
2024
Total
Funds
2023
Recorded giving:
Loose collections
Donations and gifts
Gift Aid
210,562
849
2,216
52,423
28,688
239,250
849
4,102
59,589
245,640
1,474
4,365
62,361
1,886
7,166
266,050
37,740
303,790
313,840
CHARITABLE AcfiviTIES
Unrestricted Restrlcted
Funds
Funds
Total
Funds
2024
Total
Funds
2023
Income from charitable activities
Membership fees
Fundraisin8 events
57,868
2,199
3,988
32,078
89,946
2,199
4,712
90,689
4,719
4,032
724
64,055
32,802
96,857
99,440
OTHER TRADING ACTIVITIES
Unrestricted
Funds
Total
Funds
2024
Total
Funds
2023
Letting of premises
11,543
11,543
6,271
11,543
11,543
6,271
181 Page

Presbyter
an
FINAGHY LOWE MEMORIAL PRESBYfERIAN CHURCH
a Congregation of The Presbyterian Church In Ireland
NOTES TO THE ACCOUNTS (cont'd)
31 December 2024
INVESTMENTS
Unrestricted
Funds
Total
Funds
2024
Total
Funds
2023
Deposit interest
1,065
1,065
749
1,065
1,065
749
RAISING FUNDS
Unrestricted
Funds
Total
Funds
2024
Total
Funds
2023
FWO envelopes
695
695
695
695
695
695
CHARITABLE ACTIVITIES
Unrestricted Restricted
Funds
Funds
Total
Funds
2024
Total
Funds
2023
General Assembly Assessments
Presbytery fees
Ministry and support staff costs
Congregational running expenses
Donations to Missions and charities
Governance costs
19,407
2,187
155,178
163,294
48,778
19,407
2,187
155,178
175,441
l(Xl,753
606
21,525
2,079
130,394
161,938
113,655
960
12,147
51,975
389,450
64,122
453,572
430,551
191 Page

an
FINAGHY LOWE MEMORIAL PRESBYfERIAN CHURCH
a Congregation of The Presbyterian Church In Ireland
NOTES TO THE ACCOUNTS (cont'd)
31 December 2024
EMPLOYEES
Employment Costs
Total
Funds
2024
Total
Funds
2023
Wages and Salaries
Social Security Costs
Pension contributions
124,816
6,105
14,251
112,407
3,061
8,651
145,172
124,119
Number of Employees
The average number of employees, including the minister of the congregation, during the
year was
Total
Funds
2024
Total
Funds
2023
Average number of employees
There were no employees in receipt of employee benefits in excess of £60,000 (2023 - Nil).
PENSION COSTS
The minister of the congregation is a member of the Presbyterian Church in Ireland Pension
Scheme (2009). This is a scheme operated by the Presbyterian Church in Ireland, a separate
registered charity. The congregation pays an assessment to the Presbyterian Church in
Ireland equivalent to the employer's pension contribution for the Scheme and based on the
stipend paid to the minister. The Presbyterian Church in Ireland Pension Scheme (2009) is a
funded Scheme of the defined benefit type, providing defined benefits based on career
average revalued salary. The Scheme has assets held in a separately administered fund
managed by a board of trustees. The Presbyterian Church and the Scheme Trustees have
agreed a funding plan to ensure the Scheme is sufficiently funded to meet current and
future obligations. A formal schedule of contributions was drawn up on 25 November 2015
20IPage

an
FINAGHY LOWE MEMORIAL PRESBYfERIAN CHURCH
a Congregation of The Presbyterian Church In Ireland
NOTESTO THE ACCOUNTS (convd)
31 December 2024
whereby the Presbyterian Church agreed to pay from 31 December 2015 contributions of
24% of pensionable salaries to cover the accrual of benefits for future service, expenses, the
cost of insuring death in service benefits and funding the scheme deficit.
The contributions made by the congregation during the year were
Total
Funds
2024
Total
Funds
2023
Contributions
11,113
5,674
The congregation contributes to a defined contribution pension scheme for its other
employees. The scheme and its assets are held by the National Employment Savings Trust
Corporation (NEST). The pension charge represents the contributions due from the
congregation during the year.
Total
Funds
2024
Total
Funds
2023
Contributions
3,138
2,977
211Page

an
FINAGHY LOWE MEMORIAL PRESBYfERIAN CHURCH
a Congregatlon of The Presbyterian Church In Ireland
NOTES TO THE ACCOUNTS {conVd)
31 December 2024
10. TANGIBLE FIXED ASSErs
Land
Buildings
Fixtures &
Fittings
Total
Cost or valuatlon
At start of year
Additions
Disposals
490 1,782,014
3,532
96,063
675
{1,813)
1,878,567
4,207
11,8131
At end of year
490 1,785,546
94,925
1,880,961
Depreclatlon
At start of year
Provision for year
Disposals
605,342
61,422
52,223
7,589
{1,8131
657,565
69,011
11,813}
At end of year
666,764
57,999
724,763
Net Book Value
At start of year
490 1,176,672
43,840
1.221,002
At end of year
490 1,118,782
36,926
1.156,198
11. DEBTORS
Unrestricted Restricted
Funds
Funds
Total
Funds
2024
8,139
2,600
Total
Funds
2023
11,276
3,600
Gift Aid Recoverable
Sundry debtors
8,139
600
10,739
2,000 10,739
14,876
221 Page

Presbyter
an
FINAGHY LOWE MEMORIAL PRESBYfERIAN CHURCH
Congregation of The Presbyterian Church In Ireland
NOTESTO THE ACCOUNTS (convd)
31 December 2024
12. CASH AT BANKAND IN HAND
Unrestricted Restricted
Funds
Funds
Total
Funds
2024
Total
Funds
2023
Danske Bank current accounts
Cash in hand
226,391
46,784
273,175
246,435
226,391
46,784
273,175
246,435
13. CREDITORS: amount falllng due within one year
Unrestrlcted Restricted
Funds
Funds
Total
Funds
2024
Total
Funds
2023
Sundry creditor
Interest free loans
Gift for use in future years
7,773
30,000
56,000
7,773
30,000
56,000
8,962
30,000
56,000
93,773
93,773
94,962
231 Page

an
FINAGHY LOWE MEMORIAL pREsB￿ER1AN CHURCH
a Congregation of The Presbyterian Church In Ireland
NOTES TO THE ACCOUNTS (cont'd)
31 December 2024
14. FUND BALANCES AND RECONCILIATION OF FUNDS
Fund
Balance
at start
Income
Expend.
Transfer
Balance
at end
Unrestricted Funds
General fund
Building fund
140,399 302,119
1,204,093
40,594
1307,9171
(82,2281
135,084
1,162,459
1,344,492 342,713
(39),145)
483 1,297,543
Restrlcted Funds
Missionary fund
N igeria fund
Organ repairfund
Christians against Poverty fund
Church Organisations
5,531
10,226
19,330
827
6,945
50,461
7,091
144,4721
(7,643)
11,520
9,674
19,330
1,819
11,171
{3,147}
{8,860}
501
{9841
8,272
42,859
70,542
164, 122)
1483}
48,796
Totsl Funds
1,387,351 413,255
1454,267)
1,346,339
15.
RELATED PARTY TRANSACTION
The minister of the congregation received remuneration of £46,305 and expenses of £7,036
for aciing In that capaclty. Penslon contrlbutlons of £11,113 were paid by the congregation
in respect of the minister to the Presbyterian Church i n Ireland Pension Scheme {20091. Mr
Keag received £16,642 as Church Officer. Mrs Nicole Ford received £15,492 as Youth and
Children's associate. None of the other trustees received any remuneration.
During the year the congregation contributed the following amounts to Funds of the
General Assembly of the Presbyterian Church in Ireland a separate charity
£19,407 for congregational assessments, £16,334 towards the United Appeal and £11,161
towa rd the World Development Appeal. The congregation contributed £2,187 towa rds
Presbytery Assessments during the year. There were no other related party transactions.
241 Page

Presbyter
an
FINAGHY LOWE MEMORIAL PRESBYTERIAN CHURCH
a Congregation of The Presbyterian Church In Ireland
NOTES TO THE ACCOUNTS (convd)
31 December 2024
14. FUND BALANCES AND RECONCILIATION OF FUNDS
Fund
Balance
at start
Income
Expend.
Transfer
Balance
at end
Unrestrlrted Funds
General fund
Buildlng fund
140,399 302.119
1.204,093
40.594
1307.9171
(82,228)
135,084
1,162,459
1,344,492 342,713
{390,145)
483 1,297,543
Restrfcted Funds
Missionary fund
Nigeria fund
Organ repair fund
Christlans against Poverty fund
Church Organisatlons
5,531
10,226
19,330
827
6,945
50,461
7,091
(44,4721
17,fA3)
11,520
9,674
19,330
1,819
11,171
(3,147)
{8,860)
501
{9841
8,272
42A59
70,542
164,122)
{4831
48,796
Total Funds
1,387,351 413,255
(454,267)
1,346,339
15.
RELATED PARTY TrANSAclloN
The minister of the congregation received remuneratton of £46,305 and expenses of £7,036
for acting in that capacity. Pension contributions of £11,113 were paid by the congregation
in respect of the minister to the Presbyterian Church in Ireland Pension Scheme121X)91. Mr
Keag received £16,642 as Church Offlcer. Mrs Nlcole Ford received £15,492 as Youth and
Children's associate. None of the other trustees received any remuneration.
During the year the congregation contributed the following amounts to Funds of the
General Assembly of the Presbyterian Church in Ireland a separate charity
£19,407 for congregational assessments, £16,334 towards the United Appeal and £11,161
toward the World Development Appeal. The congregation contributed £2,187 towards
Presbytery Assessments during the year. There were no other related party transactions.
241Page