Presbyter an KIRKPATRICK MEMORIAL PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland STATEMENT OF FINANCIAL ACTIVITY for the year ended 31 December 2024 Notes Unrestrirted Funds Restrlcted Total Funds Total Funds Funds 2024 2023 Income & Endowments from: Donations & Legacies Income from Charitable activities Other trading activities Investment5 Other Total Income 256,330 1,753 341,163 19,228 597,493 20,981 644,779 13,805 3,945 3,673 10,300 30,067 14,245 33,740 10,222 8,534 151 677,491 265,701 400,758 666,459 Expendlture on: Raising Funds Expenditure on Charitable activitie5 Total Expenditure 220,658 122,864 343,522 391,249 221,100 122,864 343,964 391,497 Net gains/ [lossesl on investments Net Income / [ExpenditureJ 44,601 277,894 322,495 285,993 Transfers between funds {61,502} 61,502 Net movement In funds [16,901] 339.396 322,495 285,993 Reconciliation of funds: Total funds brought forward 296,915 1,073,215 1,370,130 1,084,137 Total funds carrled forward 280.014 1.412,611 1 1.692.625 1.370.130 There may be minor discrepan¢les In the totals (not exceedlng £1) due to roundlnq 20IPage
an KIRKPATRICK MEMORIAL PRESBYTERIAN CHURCH a Congregation of The Presbyterlan Church in Ireland BALANCE SHEET As of 31 December 2024 Notes Unrestrlrted Restrlcted Fund Funds Total Funds 2024 Total Funds 2023 Fixed Assets: Tangible Assets 11 4,265 498,591 502,856 456,498 Total Foxed Assets 4,265 498,591 502,856 456,498 Current Assets Debtors Cash at Bank and in hand 12 13 18,780 264,508 16,112 930,328 34,893 1,194,836 42,733 901,371 Total Current Assets 283,288 946,440 1,229,728 944,103 Llabllltles Creditors: Amounts falling due, within one year 14 7,539 32,420 39,960 30,472 Net current assets or Ilabllltles 275.749 914,020 1.189,769 913,631 Total assets less current Ilabllitles 280,014 1.412,611 1,692,625 1,370.130 Creditors: amounts falling due after more than one year Provision for liabilities 15 Total net assets or Ilabllltles 280,014 1.412,611f 1.692.625 1.370.130 There may be mlnor discrepancles In the totals (not exceeding £1) due to rounding.
Presbyter an KIRKPATRICK MEMORIAL PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church In Ireland BALANCE SHEET As of 31 December 2024 Note Unrestrlcted Funds Restricted Total Funds Funds 2024 Total Funds 2023 Funds of the charlty Restricted Income funds 16 1,412,611 1,412,611 1,073,215 Designated funds Unrestricted funds 16 16 10,000 270,014 10,000 270,014 296,915 Total charlty funds 280,014 1,412,611 1,692,625 1,370,130 Approved by the Kirk Session at a meeting on 14 April 2025 and signed on its behalf by Q. i G--4 Graeme Kennedy 14 APRIL 2025 Gareth Irwin 14 APRIL 2025 221 Page
Presbyter an KIRKPATRICK MEMORIAL PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church In Ireland STATEMENT OF CASHFLOWS Year ended 31 December 2024 2024 2023 Cash flows from operating activltles Net income 322,495 285,993 Adjustments for.. Depreciation of tangible fixed assets 8,925 8,925 Changes in.. Trade and other debtors Trade and other creditors 7,840 9,488 (10,730) (12,1841 Cash generated from operations 348,748 272,004 Net cash used in operating activitles 348,748 272,004 Cash flows from Investln8 activltles Purchases of tangible fixed assets (55,283} Net cash from investing activities {55,2831 Cash flows from flnanclng actlvlties Proceeds from/(repayment of) borrowings Net cash from financing activities Net increase/(decrease) In cash and cash equivalents Cash and cash equlvalents at beginning of year 293,465 901,371 272,004 629,367 Cash and cash equivalents at end of year 1,194,836 901,371 231Page
Presbyter an KIRKPATRICK MEMORIAL PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS 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 the Financial Reporting Standard applicable in the UK and Ireland {FRS102) {effective l January 2019). 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 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 Ib) 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 that 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. 241Page
an KIRKPATRICK MEMORIAL PRESBYfERIAN CHURCH a Congregatlon of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS 31 December 2024 ACCOUNTING POLICIES (convd) INCOMING RESOURCES (l) Recognltlon of Incoming 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 sufficlent reliability. {11) Incomlng resources wlth related expendlture Where incoming resources have related expenditure las with fundraising income) the incoming resources and related expenditure are reported gross in the SOFA. (111) Grants and donatlons Grants and donations are only included in the SOFA when the congregation has an unconditional entitlement to the resources. (Iv) Tax reclalms on donatlons and gifts Incoming resource5 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 klnd Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resource5 when receivable. 251Page
Presbyter an KIRKPATRICK MEMORIAL PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS 31 December 2024 ACCOUNTING POUCIES Iconvd) (vil) Donated servlces and faclllties 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. (vili) Volunteer help The value of any voluntary help received is not included in the accounts but is described in the trustees, annual report. 1Sx) Investment Income This is included in the accounts when receivable. Ix) Investment galns and losses This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. EXPENDITURE AND LIABILITIES (xl) Llabllity recognitlon Liabilities are recognised as soon as there is a legal or constructive obligation committing the congregation to pay out resources. (xll) Governance costs These are shown within charitable activities and include the costs of preparation and examination of accounts, the costs of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters. (xiii) Grants With performance conditions Where the charity gives a grant with conditions for its payment being a specific level of seplice or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output. 261Page
Presbyter KIRKPATRICK MEMORIAL PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS 31 December 2024 ACCOUNTING POLICIES (convd) Ixlv) Grants payable wlthout performance condltlons 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. (xv) Support costs Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, e.g. allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. ASSETS (xvl) Tangible Foxed Assets Tangible fixed assets for use by the charity are capitalised if they can be used for more than one year, and cost at least £2,500. 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 Buildin85: Fixtures, fittings and equipment Motor Vehicles Computers, software and technical equipment over 50 years over 10 years over 4 year5 over 4 years Where depreciation is calculated for a tangible fixed asset, the depreciation commences in the first full year of ownership of the asset. {xvll) Investments Investments quoted on a recognised stock exchange are valued at market value at the year-end. Other investment assets are included at the trustees, best estimate of market value. 271Page
Presbyter an KIRKPATRICK MEMORIAL PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (conVd} 31 December 2024 2. DONATIONS AND LEGACIES Unrestricted Funds Restricted Funds Total Funds 2024 Total Funds 2023 Recorded giving Loose collections Donations and gifts Gift Aid Legacies and bequests 195,175 6,031 30 | 45,093 10,000 271,633 466,808 6,031 5,075 109,579 10,(K)O 509,954 7,289 9,681 115,856 2,000 5,045 64,485 256,330 341,163 S97,493 644,779 3. INCOME FROM CHARITABLE AcfiviTIES Unrestrlcted Restrlcted Total Funds Funds Funds 2024 Total Funds 2023 Income from charitable activities Church Publications Weddings Grants 1,464 289 14,375 15,839 289 11,150 315 140 2,200 4,853 4,853 1.753 19,228 20.981 13,805 4. INCOME FROM OTHER TRADING ACTIVITIES Unrestrlcted Restrlcted Total Funds Funds Funds 2024 Total Funds 2023 Letting of premises Income from Church Fundraising Events Membership Fees 3,945 3,945 i 1,802 8,498 3,525 1,802 8,498 6,697 3.945 10,300 14.245 10.222 281Page
an KIRKPATRICK MEMORIAL PRESBYTERIAN CHURCH a Congregation of The Presbyterlan Church in Ireland NOTES TO THE ACCOUNTS (convd) 31 December 2024 5. INVESTMENTS Unrestrlcted Funds Restrlcted Funds Total Funds 2024 Total Funds 2023 Deposit Interest 3,673 3,673 30,067 30,067 33,740 33,740 8,534 8.534 6. OTHER INCOME Unrestrlcted Fund Restrlcted Funds Total Funds 2024 Total Funds 2024 Miscellaneous Income 151 151 7. RAISING FUNDS Unrestricted Funds Restrlcted Funds Total Funds 2024 Total Funds 2023 Cost of Church Envelopes Fundraising event5 224 218 442 224 218 442 248 248 8. EXPENDITURE ON CHARITABLE ACTIVITIES Unrestrlcted Funds Restricted Funds Total Funds 2024 Total Funds 2023 General A55embly Assessments Presbytery Fees Ministry & Support Staff costs Congregational running expenses Buildings - Professional Fees Donations- Missions & Charities Governance costs Including the Audit Fee 34,838 1,178 120,158 60,057 34,838 1,178 123,973 107,615 33,175 1,086 133,144 119,806 23,088 78,190 2,760 3,815 47,558 71,492 71,492 4,426 4,426 220,658 122,865 343,522 391.249 Note 8. Alee of£3.000 Is payablefvr the audit of theflnanch71 statements, which is Included In the governance costs. There may be mlnor dlscrepancles In the totols (not exceeding £lJ due to mundlnq. 291Page
an KIRKPATRICK MEMORIAL PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church In Ireland NOTES TO THE ACCOUNTS (coned) 31 December 2024 EMPLOYEES EMPLOYMENT COSTS Total Funds 2024 Total Funds 2023 Wages and Salaries Social Security Costs Pension contributions 104,369 9,706 15,148 129.223 116,807 9,450 14,989 141.246 The average number of employees, including the minister of the congregation, during the year, was NUMBER OF EMPLOYEES Total Total 2024 2023 Average number of employees There was one employee in receipt of employee benefits {excluding pension contributions) in excess of £60,CM)O. 30IPage
an KIRKPATRICK MEMORIAL PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (convd) 31 December 2024 10. PENSION COSTS The minister of the congregation is a member of the Presbyterian Church in Ireland Pension Scheme {20091. This is a scheme operated by the Presbyterian Church in Ireland, a separately registered charity. The congregation pays an assessment to the Presbyterian Church in Ireland equivalent to the employerfs pension contrlbutlon 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 on a funding plan to ensure the Scheme is sufficiently funded to meet current and future obli8atlons. 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 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 13,459 12,818 The congregation operates a defined contribution pension scheme for its employees. The scheme and its assets are held by an independent scheme manager. The pension charge represents the contributions due from the congregation during the year. Total Funds 2024 Total Funds 2023 Contributlons 1,689 2,170 311Page
an KIRKPATRICK MEMORIAL PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (conyd) 31 December 2024 11. TANGIBLE FIXED ASSETS Land & 8uild5ngs Flxtures & Fittings Vehlcles Total Cost or valuation At start of year Additions Disposals At end of year 400,000 55,283 69,690 469,690 55,283 455,283 69,690 524,973 Depreclation At start of year Provision for year Disposals At end of year 13,192 8,925 13,192 8,925 22,117 22,117 Net Book Value At start of year At end of year 400,000 455,283 56,498 47,573 456,498 502,856 Where depreciation is calculated for a tangible fixed asset, the depreclation, as per Note Ilxvi>, commences in the first full year of ownership of the asset. Land and Buildings consist of two classes of assets. The first class is church property which is used to carry out the activities of the church. This class is carried at cost and depreciated over the estimated economic life of 50 years. However, given the age of the premises in question, it is deemed to be fully written off and have nil carrying value at 31 December 2024 and 2023 on a cost basis. 321Page
an KIRKPATRICK MEMORIAL PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS {conVd) 31 December 2024 The second class is a residential property that is made available to employees of the church. The property in question is the manse and it has been valued at £400,000, the value set by the local rating authority. Given the nature of the properties and ongoing maintenance/repairs to which they are subject, no depreciation is applied as the residual value is considered to be at least equal to the carrying valuation. 12. DEBTORS 2024 2023 Gift Aid Recoverable Prepayments & Accrued Income 21,683 13,210 34,893 32,604 10,128 42,733 13. CASH AT BANK AND IN HAND (CA = Current Account. DP = Deposlt Account) 2024 2023 General Fund / Ulster Bank CA General Fund / Danske Bank CA General Fund / Progressive Building Society DP Property Fund / Ulster Bank CA Property Fund / Danske Bank CA Property Fund / Danske Bank Investment DP Property Fund / Danske Bank Fixed Term DP Property Fund / Progressive Building Society DP Mercy Fund / Danske Bank CA Presbyterian Women / Danske Bank CA Gir15 Brigade Company / Danske Bank CA The Globe Café / Danske Bank CA Boys Brigade Company / AIB Group DP Kirkpatrick Tots/Ulster Bank CA Friendship Club / Ulster Bank CA 5,049 22,190 237,000 573 6,359 8,804 121,065 145,000 13,963 19,287 76,635 500,000 1 530,000 379,000 1 4,766 262 1,772 7,175 1,401 1,885 1,259 3,191 716 990 901.371 5,062 618 1,228 1.194,836 331Page
an KIRKPATRICK MEMORIAL PRESBYTERIAN CHURCH a Congregation of The Presbyterlan Church in Ireland NOTES TO THE ACCOUNTS (convd) 31 December 2024 14. LIABILITIES- CREDITORS Amount falling due wlthin one year 2024 2023 Agency Collections Accounts Payable 39,960 39,960 30,472 30,472 15. LIABILITIES - CREDITORS Amount fallin8 due after more than one year 2024 2023 Accounts Payable 341 Page
an KIRKPATRICK MEMORIAL PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS {conVd) - 31 December 2024 16. FUND BALANCES AND RECONCILIATION OF FUNDS Fund Balance at start Income Expenditure Transfers Balance at end Unrestricted Funds General Property Fund- Designated See note [11 below 296,915 255,701 10,000 221,100 [61,502] 270,014 10,000 296 915 265 701 221100 280 014 Restricted Funds Property Fund Mercy Fund United Appeal Fund See note [11] below General Mission Fund See note Illlj below World Dev Appeal Fund Moderators Appeal Fund Mission Partner Fund See note Ilvl below Flower Fund Ch Family Events Fund See note [v] below Gift The Lutton Family Friendship Club BB Company GB Company GB Xtra The Globe Café See note {vll below Kirkpatrick Tots Presbyterian Women See note [vllJ below Duke of Edinburgh Scheme See note Iviii] below 1,053,415 7,281 354,069 1,531 6,320 14,037 3,965 16,546 500 1,393,947 4,847 10,226 1,026 1,526 1,734 1,234 5,063 5,063 450 46,700 46,250 19 12 10,904 31 1,134 12,281 2,504 3,201 1,027 3,191 1,565 709 1,798 9,041 1,430 560 3,911 1,561 7,170 1,395 1,074 25 1,265 5,062 1,600 514 [1,2341 1,259 716 1,533 837 1,158 935 1,826 618 365 [500] 5,849 4,850 1,507 2,506 1073 215 122 864 61502 1412 611 Total 1.370,130 666,459 343,964 1,692,625 There moy be minor discreponcles In the totols (not exceeding £1) due to rounding.
an KIRKPATRICK MEMORIAL PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS Iconvd) 31 December 2024 16. FUND BALANCES AND RECONCILIATION OF FUNDS- cont'd Notes on transfers between Funds Unrestricted Funds An unrestricted Bequest of £10,000 was credited to the Propertv- Designated Fund in 2024 as agreed with the Trustees. A transfer of £10,266 from General Funds to honour the East Belfast Presbytery Target of Honour for this annual donation The Globe Café fund closing balance was transferred to the General Mission Fund; as agreed with the Trustees. A transfer of £46,250 from General Funds to cover the majority of the annual Mission Partner donations. A transfer of £2,504 from General Funds to cover expenditure on church family events and activities. The Globe Café fund closing balance was transferred to the General Mission Fund; as agreed with the Trustees. The PW donated £500 to the Property Fund Building Project. A transfer of £1,507 from General Funds to cover the cost of the annual Licence fee for the Duke of Edinburgh Award Scheme. United Appeal Fund General Mission Fund [Iv] Mission Partner Fund [v] Church Family Events The Globe Café [vll] [vlli] Presbyterian Women Duke of Edinburgh Award Scheme 17. RELATED PARTY TRANSAcfioN One of the Trustees, Rev Graeme Kennedy, the minister of the congregation, received remuneration of £56,077,84 and expenses of £7,036 for acting in that capacity. A pension contribution of £13,458.75 was paid by the congregation in respect of the minister to the Presbyterian Church in Ireland Pension Scheme12009} again for acting as Minister to the congregation. 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 £21,379.00 for Congregational Assessments £16,546.00 for the United Appeal £5,062.63 for the World Development Appeal The congregation paid £1,178 as Presbytery Assessments during the year There were no other related party transactions. 361 Page