St. ANDREW'S CONGREGATION of the PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY for the year ended 31 December 2024 Income and Endowments from: Donations and legacies Charitable activities Other trading activities Investments Other 135,501 59,787 195288 188,353 1,411 1,411 1,395 Total 136,912 59,787 196,669 189,748 Expendlture on.. Raising funds Charitable activities Other 149.970 82,675 480 524 0 232,645 249,356 Total 150.450 82,675 233,125 249,880 Net gains/(losses) on investments Net Income / (expendlture) Transfers between funds Gains/{losses) on revaluation of fixed assets (13,538) {22,888) (805) 805 (36,426) (60,132) Net movernent in funds Reconciliation of funds.. Total funds brought fonvard {14,343} (22,083) 0 {36,426) {60,132} 74,033 427,624 501,657 561,789 Total funds carrled forward 59,690 405,541 0 465,231 501,657 23
St. ANDREW'S CONGREGATION of the PRESBYfERIAN CHURCH IN IRELAND BALANCE SHEEr As at 31 December 2024 Fixed assets: Tangible assets Heritage assets Investments 12 357.680 357,680 365,913 13 Totsi flxed assets 357,680 357,680 365,913 Current assets Debtors Current Investment5 Cash at bank and in hand 14 28133 11,894 40,027 34,850 15 36,191 43.573 79,734 112,851 Total current assets 64,324 55,437 119,761 147,701 Llabilltles: Creditors: Amounts falling due within one year 16 4.634 7,576 12,210 11,957 Net current assets 59,690 47.861 107,551 135,744 Total assets less current Ilabilities Creditors: Amounts fallin8 due after 17 more than one year Provisions for liabilities 59,690 405,541 465,231 501,657 Totsl net assets 59,690 405,541 465,231 501,657 24
St. ANDREWS CONGREGATION of the PRESBYfERIAN CHURCH IN IREIAND BALANCE SHEEf (convd) As at 31 December 2024 Funds of the charlty Endowment funds Restritted income funds Unrestrirted funds Revaluation reserve 18 0 405,541 59.690 405,541 59,690 18 427,624 74,033 Totsi charlty funds 59,690 405.541 465,231 501,657 Approved by the Kirk Sesslon at a meetlng on 10th February 2025 and signed on Its behalf by Name Rev. RS. Aicken K. Brown Date ioth February 2025 ioth February 2025 25
St. ANDREW'S CONGREGATION of the PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2024 ACCOUNTING POUCIES BASIS OF FINANCIAL sfATEMEKrs The financial staternents 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 conventlon 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 group5 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 unrestritted 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 grant5 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. Unrestritted 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. 26
St. ANDREWS CONGREGATION of the PRESBYTERIAN CHURCH IN IREIAND NOTES TO THE ACCOUNTS 31 December 2024 ACCOUNTING POLICIES(conYd) INCOMING RESOURCES {[) Recognition 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 sufficient reliably. (li) Incoming reSoUrS with related expendlture Where incomlng resouros have related expenditure (as with fundraislng income) the Incoming resources and related expenditure are reported gross in the SOFA. (111) Grants and donations Grants and donations are only included in the SOFA when the congregation has unconditional entitlement to the resources. (Iv) Tax reclalms on donatlons 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 perforniance related grants This is only included in the SOFA once the related goods or services have been delivered. (vi) Glfts In klnd Gifts in kind are accounted for at a reasonable estimate of their value to the charlty or the amount actually realised. Gift5 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 incomin8 resources when receivable. 27
St. ANDREW'S CONGREGATION of the PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE AccouKrs 31 December 2024 ACCOUNTING POUCIES (convd) (vii) Donated servlces and facllitles 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. (vill) 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. (x) 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 UABILITIES {xl) Liablllty recognitlon Llabilities are recognlsed as soon as there is a legal or construttive obligation committing the congregation to pay out resources. (xii) 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. (xiii) Grants with performance condltions Where the charity gives a grant with conditions for its payment being a specific level of service 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. 28
St. ANDREW'S CONGREGATION of the PRESBYTERIAN CHURCH IN IREIAND NOTES TO THE ACCOUNTS 31 December 2024 ACCOUNTING pouaES {conVd) (xiv) Grants payable without perfomiance 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 (xv) Tanglble Flxed Assets Tan8ible flxed assets for use by charity are capitalised if they can be used for more than one year, and c05t 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 flxed 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 Buildings: Fixtures, fittings and equipment Motor Vehicles Computers, software and technical equipment - over So years over 10 years over 4 years over 4 year5 (xvi) Investments Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees, best estimate of market value. 29
St. ANDREW'S CONGREGATION of the PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS {conVd) 31 December 2024 DONATIONS AND LEGACIES Recorded givin8". Loose collections Donations and gifts Gift Aid Legacies and bequest 1.193 113,886 49,175 20,422 10,612 1,193 952 163,061 158,676 31,034 26,725 2,000 135,501 59.787 195,288 188,353 CHARITABLE AcfiviTIES Income from charitable activities Fees from weddings and funerals Membership fees Fundraising events Grants 30
St. ANDREW'S CONGREGATION of the PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (convd) 31 December 2024 OTHER TRADING AcfiviTIES Letting of premises Trading income INVESTMENTS Deposit interest General Investment Fund Property Rents Other investment income 1,411 1,411 1,395 1,411 1,411 1,395 31
St. ANDREW'S CONGREGAlloN of the PRESBrfERIAN CHURCH IN IRELAND NOTES TO ThE ACCOUNTS (convd) 31 December 2024 OTHER INCOME Insurance claims Other income RAISING FUNDS FWO envelopes Loose Offerings Fundraising events 524 480 524 32
St. ANDREW'S CONGREGATION of the PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (conYdJ 31 December 2024 8.CHARITABLE AcfiviTIES General Assembly Assessments Presbytery fees Ministry and support staff costs Congregational runnin8 expenses Donations to Missions and charities Governance costs 11,934 817 64,894 56.190 11,934 817 64,894 101,445 11,694 778 65,455 102,804 45,255 16,135 37.420 53,555 68,625 149,970 82,675 232,645 249,356 9. OTHER EXPENDITURE Investment properties expenses 33
St. ANDREW'S CONGREGATION of the PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (convd) 31 December 2024 10. EMPLOYEES Employment Costs Wages and Salaries Social Security Costs Pension contributions 49,166 50,635 6,394 5,930 9.334 8,890 64,894 65,455 Number of Employees The average number of employees, includlng the minlster of the congregation, during the year was Average number of employees There were no employees in receipt of employee benefits in excess of £60,000. 34
St. ANDREW'S CONGREGAnoN of the PRESBYfERIAN CHURCH IN IRELAND NOTES TO ThE ACCOUNTS (convd) 31 December 2024 11. PENSION COSTS The minister of a 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 employerfs 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 24% of pensionable salaries to cover the accrual of benefits for fvtU service, expenses, the cost of insuring death in serdice benefits and funding the Scheme deficit. The contributions made by the congregation durin8 the year were Contributions 9,334 8,890 The Assistant Minister and the Intern were not members of a pension scheme. Contributions 35
St. ANDREWS CONGREGATION of the PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (convd) 31 December 2024 12. TANGIBLE FIXED ASSETS Cost or valuatlon At start of year Additions Disposals 421.650 111,210 15,862 548,722 At end of year 421,650 111,210 15,862 548,722 Depreclation At start of year Provision for year Disposals 56,598 7.372 110,349 861 15,862 182,809 8.233 At end of year 63,970 111,210 15,862 191,042 Net Book Value At Start of year 365,052 861 365,913 At end of year 357,680 357,680 13. INVEsfMENTS 2024 2023 General Investment Fund Investment Properties 36
St. ANDREW'S CONGREGATION of the PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS {conYd) 31 December 2024 13. INVESTMENTS (Conyd) 2024 2023 Value at start of year Additions Disposals Impairment Gains / (Losses on revaluation} Value at end of year 14. DEBTORS 2024 2023 Gift Aid Recoverable Prepayments 31,034 8,993 26,725 8,125 40,027 15. CASH AT BANK AND IN HAND 34,850 2024 2023 Danske Bank current account P05t Office current account Danske Bank deposit account Cash in hand 29,009 236 50,489 19,367 236 93,248 79,734 112,851 37
St. ANDREW'S CONGREGATION of the PRESBYfERIAN CHURCH IN IRELAND NOTESTO THE Accouwfs {conVd) 31 December 2024 16. CREDITORS: Amounts falling due within one year 2024 2023 Trade Creditors 12,210 11,957 12,210 11,957 17. CREDITORS: Amounts falling due after more than one year 2024 2023 St Andrew5 has not reached agreement with P.C.l. on the £300,IJ)O liability on the Church Building 38
St. ANDREW'S CONGREGATION of the PRESBYTERIAN (IIURCH IN IRELAND NOTES TO THE ACCOUNTS (convd) 31 Dernber 2024 18. FUND BALANCES AND RECONCIUATION OF FUNDS Fund Balance at start Income Expend. Gains/ Transfer Balance L055es at end Unrestricted Funds General Fund 74.033 136,912 {150,450) 1805} 59,690 74,033 136,912 (150.450) (8051 59,690 Restrlrted Funds Tan8ible Assets Property Fund General Missionary Fund Rivero Support Fund Rivero Education Fund Rivero Gift Benevolent Fund United Appeal World Development Royal British Legion Tear Fund Flower Fund 365,052 61,605 19,931 5,601 16,474 5,310 495 410 9,151 1,151 136 1,128 {7,372) (37,830) (2,450) 116,474) (5,310) (1,31)0) (320) (9,151) {1,151) (136} (1,128) 153) 0 357,680 43,706 3,151 695 785 272 219 427,624 59.787 {82.675) 805 405,541 Endowment Funds Total 501,657 196,699 1233,125} 465,231 39
St. ANDREWS CONGREGATION of the PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (convd) 31 DECEMBER 2024 19. RELATED PARTYThANSAcfioNS One of the Trustees, the Minister of the Congregation received remuneration of £38,892 and expenses of £7,036 for acting in that capacity. Pension contributions of £9,334 were paid by the Congregation in respect of the Minister to the Presbyterian Church in Ireland Pension Scheme {2009). None of the other trustees reoived any remuneration. but one trustee is a Director in the company that provides the musical services to the Congregation and it was paid £8.000. During the year the Congregation contributed the following amounts to Funds of the General Assembly of the Presbyterian Church in Ireland a separate charity: £11,934 for Congregational Assessments £9,151 towards the United Appeal £1,151 towards the World Development Appeal During the year the Congregation contributed the following amount to East Belfast Presbytery a separate charity: £817 There were no other related transactions. 40