FINAGHY LOWE MEMORIAL PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church In Ireland
STATEMENT OF FINANCIAL ACTIVITY
for the year ended 31 December 2025
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|||||||||
|---|---|---|---|---|---|---|---|
|Nee|Unrestricted|Restricted|Tig|Tote|
|s|Funds|unaie|Funds|Funds|
|2025|2024|
|£|£|£|£|
|Income|and|Endowments|from:|
|Donations|and|legacies|2|273,634|44,409|318,043|303,790|
|Charitable|activities|3|18,199|77,977|96,176|96,857|
|Other trading|activities|4|9,295|9,295|11,543|
|Investments|5|7,728|7,728|1,065|
|Total|308,856|122,386|431,242|413,255|
|Expenditure|on:|
|Raising funds|6|720|720|695|
|Charitable|activities|7|334,224|123,136|457,360|453,572|
|Total|334,944|123,136|458,080|454,267|
|Net Income / (expenditure)|(26,088)|(750)|(26,838)|(41,012)|
|Transfers|between|funds|490|(490)|-|-|
|Net movement|in funds|(25,598)|(1,240)|(26,838)|(41,012)|
|Reconciliation|of funds:|
|Total funds brought forward|1,297,543|48,796|1,346,339|1,387,351|
|Total funds|carried forward|1,271,945|47,556|1,319,501|1,346,339|
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U
Presbyterian
FINAGHY LOWE MEMORIAL PRESBYTERIAN CHURCH
a Congregation of The Presbyterian Church In Ireland
BALANCE SHEET
As at 31 December 2025
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||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Notes|Unrestricted|Restricted|Total|Total|
|Funds|Funds|Funds|Funds|
|2025|2024|
|£|£|£|£|
|Fixed|assets:|
|Tangible|assets|10|1,088,439|-|1,088,439|1,156,198|
|Total|fixed|assets|1,088,439|-|1,088,439|1,156,198|
|Current|assets|
|Debtors|11|17,748|2,000|19,748|10,739|
|Cash|at|bank|and|in|hand|12|261,253|45,556|306,809|273,175|
|Total|current|assets|279,001|47,556|326,557|283,914|
|Liabilities:|
|Creditors:|Amounts|falling|due|13|95,495|-|95,495|93,773|
|within|one|year|
|Net|current|assets|or|(liabilities)|183,506|47,556|231,062|190,141|
|Total|net assets|or|liabilities|1,271,945|47,556|1,319,501|1,346,339|
|Funds|of the|charity|
|Restricted|income|funds|14|-|47,556|47,556|48,796|
|Unrestricted|funds|14|1,271,945|-|1,271,945|1,297,543|
|Total|charity funds|1,271,945|47,556|1,319,501|1,346,339|
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Approved by the Kirk Session at a meeting on 24 February 2026 and signed on its behalf by
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Rev DrJ McCracken Minister
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J White Hon Treasurer
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24 February 2026
24 February 2026
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FINAGHY LOWE MEMORIAL PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church In Ireland NOTES TO THE ACCOUNTS 31 December 2025
1. 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 1 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 congregation’s general purposes. Designated funds are general funds set aside by the congregation for use in the future.
INCOMING RESOURCES
(i) | Recognition of incoming resources These are included in the Statement of Financial Activities (SoFA) when:
e the congregation becomes entitled to the resources; e the trustees are virtually certain they will receive the resources; and e the monetary value can be measured with sufficient reliably.
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FINAGHY LOWE MEMORIAL PRESBYTERIAN CHURCH
a Congregation of The Presbyterian Church In Ireland , NOTES TO THE ACCOUNTS 31 December 2025
- 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 donations Grants and donations are only included in the SoFA when the congregation has unconditional entitlement to the resources.
(iv) Tax reclaims on donations and gifts 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.
(vi) Gifts 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.
(vii) Donated services and facilities
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 is described in the trustees’ annual report.
(ix) Investment income
This is included in the accounts when receivable.
16] Page
Presbyteran
FINAGHY LOWE MEMORIAL PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church In Ireland NOTES TO THE ACCOUNTS
31 December 2025
it; ACCOUNTING POLICIES (cont’d)
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.
(xi) 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.
(xii) 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.
ASSETS
(xiii) Tangible Fixed Assets
Tangible fixed assets for use by charity 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 off the cost, less estimated residual value, of each asset over its expected useful life as follows:
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|---|---|---|---|---|
|Buildings|- over 50 years|
|Building|internal|refurbishment|- over 20 years|
|Fixtures,|fittings|and|equipment|- over 10 years|
|Soft furnishings|- over|5|years|
|Computers,|software|and|technical equipment|- over 2 years|
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FINAGHY LOWE MEMORIAL PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church In Ireland NOTES TO THE ACCOUNTS (cont’d)
31 December 2025
2. DONATIONS AND LEGACIES
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|---|---|---|---|---|---|---|
|Unrestricted|Restricted|Total|Total|
|Funds|Funds|Funds|Funds|
|2025|2024|
|£|£|£|£|
|Recorded|giving:|218,100|34,672|252,772|239,250|
|Loose collections|1,111|80|1,191|849|
|Donations|and|gifts|345|1,403|1,748|4,102|
|Gift Aid|54,078|8,254|62,332|59,589|
|273,634|44,409|318,043|303,790|
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3. CHARITABLE ACTIVITIES
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|---|---|---|---|---|---|---|
|Unrestricted|Restricted|Total|Total|
|Funds|Funds|Funds|Funds|
|2025|2024|
|£|£|£|£|
|Income from|charitable|activities|14,364|75,421|89,785|89,946|
|Membership fees|1,610|-|1,610|2,199|
|Fundraising events|2,225|2,557|4,782|4,712|
|18,199|77,978|96,177|96,857|
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4. OTHER TRADING ACTIVITIES
Letting of premises
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|---|---|---|
|Unrestricted|Total|Total|
|Funds|Funds|Funds|
|2025|2024|
|£|£|£|
|9,295|9,295|11,543|
|9,295|9,295|11,543|
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Presbyterian
FINAGHY LOWE MEMORIAL PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church In Ireland
NOTES TO THE ACCOUNTS (cont’d)
31 December 2025
5. INVESTMENTS
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|---|---|---|---|
|Unrestricted|Total|Total|
|Funds|Funds|Funds|
|2025|2024|
|£|£|£|
|Deposit interest|7,728|7,728|1,065|
|7,728|7,728|1,065|
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- RAISING FUNDS
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|---|---|---|---|
|Unrestricted|Total|Total|
|Funds|Funds|Funds|
|2025|2024|
|£|£|£|
|FWO envelopes|720|720|695|
|720|720|695|
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- CHARITABLE ACTIVITIES
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|---|---|---|---|---|---|
|Unrestricted|Restricted|Total|Total|
|Funds|Funds|Funds|Funds|
|2025|2024|
|£|£|£|£|
|General Assembly Assessments|18,442|-|18,442|19,407|
|Presbytery fees|2,256|-|2,256|2,187|
|Ministry and support staff costs|149,168|-|149,168|155,178|
|Congregational|running expenses|150,459|14,335|164,794|175,441|
|Donations to|Missions and charities|13,259|108,801|122,060|100,753|
|Governance|costs|640|-|640|606|
|334,224|123,136|457,360|453,572|
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by Sa, Presbyteflan
FINAGHY LOWE MEMORIAL PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church In Ireland NOTES TO THE ACCOUNTS (cont’d) 31 December 2025
8. EMPLOYEES
Employment Costs
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|---|---|---|---|
|Total|Total|
|Funds|Funds|
|2025|2024|
|£|£|
|Wages and|Salaries|118,334|124,816|
|Social|Security Costs|7,255|6,105|
|Pension|contributions|11,315|14,251|
|136,904|145,172|
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Number of Employees
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|---|---|---|---|
|The average number of employees,|including the|minister of the congregation,|during the|
|year was|
|2025|2024|
|Average number of employees|5|5|
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There were no employees in receipt of employee benefits in excess of £60,000 (2024 — Nil).
9. 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 whereby the Presbyterian Church agreed to pay from 31 December 2015 contributions of 17.5% (2024 - 24%) of pensionable salaries to cover the accrual of benefits for future
20 | Page
ae“ a Presbyterian
FINAGHY LOWE MEMORIAL PRESBYTERIAN CHURCH
a Congregation of The Presbyterian Church In Ireland NOTES TO THE ACCOUNTS (cont’d)
31 December 2025
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
Contributions
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|---|---|
|Total|Total|
|Funds|Funds|
|2025|2024|
|£|£|
|8,387|11,113|
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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.
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||||
|---|---|---|
|Total|Total|
|Funds|Funds|
|2025|2024|
|£|£|
|Contributions|2,928|3,138|
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U aZs, Presbyterian
FINAGHY LOWE MEMORIAL PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church In Ireland NOTES TO THE ACCOUNTS (cont’d)
31 December 2025
10. TANGIBLE FIXED ASSETS
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|---|---|---|---|---|---|---|
|Land|Buildings|Fixtures|&|Total|
|Fittings|
|£|£|£|£|
|Cost|or valuation|
|At|start|of year|490|1,785,546|94,925|1,880,961|
|Additions|-|-|-|-|
|Disposals|-|-|(3,946)|(3,946)|
|At end|of year|490|1,785,546|90,979|1,877,015|
|Depreciation|
|At|start of year|-|666,764|57,999|724,763|
|Provision|for year|-|61,657|6,102|67,759|
|Disposals|-|-|(3,946)|(3,946)|
|At end|of year|-|728,421|60,155|788,576|
|Net|Book Value|
|At|start of year|490|1,118,782|36,926|1.156,198|
|At end|of year|490|1,057,125|30,824|1.088.439|
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- DEBTORS
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|---|---|---|---|---|---|---|
|Unrestricted|Restricted|Total|Total|
|Funds|Funds|Funds|Funds|
|2025|2024|
|Gift|Aid|Recoverable|9,752|-|9,752|8,139|
|Sundry debtors|7,996|2,000|9,996|2,600|
|17,748|2,000|19,748|10,739|
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@ 2 a Presbyterian
FINAGHY LOWE MEMORIAL PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church In Ireland NOTES TO THE ACCOUNTS (cont’d)
31 December 2025
12. CASH AT BANK AND IN HAND
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| Funds | Funds | Funds | Funds | |
| 2025 | 2024 | |||
| Danske Bank current accounts | 13,525 | 26,226 | 49,751 | 113,175 |
| Danske bankdeposit accounts | 247,728 | 19,330 | 267,058 | 160,000 |
| Cash in hand | - | - | - | - |
| 261,253 | 45,556 | 316,809 | 273,175 |
13. CREDITORS: amount falling due within one year
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| Funds | Funds | Funds | Funds | |
| 2025 | 2024 | |||
| Sundry creditor | 19,495 | - | 19,495 | 7,773 |
| interestfree loans | 20,000 | - | 20,000 | 30,000 |
| Gift for use in future years | 56,000 | - | 56,000 | 56,000 |
| 95,495 | - | 95,495 | 93,773 |
23 | Page
@
Presbyterian
FINAGHY LOWE MEMORIAL PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont’d) 31 December 2025
- FUND BALANCES AND RECONCILIATION OF FUNDS
| Fund | Balance | Income — Expend. | Income — Expend. | Transfer | Balance |
|---|---|---|---|---|---|
| at start | at end | ||||
| £ | £ | £ | £ | £ | |
| Unrestricted Funds | |||||
| General fund | 135,084 | 293,887 | (263,443) | 490 | 166,018 |
| Building fund | 1,162,459 | 14,969 | (71,501) | 1,105,927 | |
| 1,297,543 | 308,856 | (334,944) | 490 | 1,271,945 | |
| Restricted Funds | |||||
| Missionary fund | 11,520 | 106,747 | (106,302) | - | 11,965 |
| Nigeria fund | 9,674 | 1,422 | (2,600) | - | 8,496 |
| Organ repairfund | 19,330 | - | - | - | 19,330 |
| Christians against Povertyfund | - | 4,609 | (4,572) | - | 37 |
| Church Organisations | 8,272 | 9,608 | (9,662) | (490) | 7,728 |
| 48,796 | 122,386 | (123,136) | (490) | 47,556 | |
| TotalFunds | 1,346,339 | 431,242 | (458,080) | - | 1,319,501 |
15. RELATED PARTY TRANSACTION
The minister of the congregation received remuneration of £47,926 and expenses of £7,388 for acting in that capacity. Pension contributions of £8,387 were paid by the congregation in respect of the minister to the Presbyterian Church in Ireland Pension Scheme (2009). Mr Keag received £17,224 as Church Officer. Mrs Nicole Ford received £16,200 as Youth and Children’s associate plus £959 paid to the NEST pension scheme. 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 £18,442 for congregational assessments, £18,860 towards the United Appeal and £12,153 towards the World Development Appeal. The congregation contributed £2,256 towards Presbytery Assessments during the year. There were no other related party transactions.
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