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2024-12-31-accounts

NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

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NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

Registered with the Charity Commission for Northern Ireland NIC104325

NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

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CONTENTS

Page
General Information 2
Trustees’ Annual Report 4
Auditor’s Report 12
Statement of Financial Activities (including income and expenditure account) 17
Balance Sheet 18
Statement of Cash Flows 19
Notes to the Financial Statements 20

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NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

________________

GENERAL INFORMATION

Charity name Newtownbreda Congregation of the Presbyterian Church in Ireland
Charity registration number NIC 104325
Charity address Newtownbreda Congregation of the Presbyterian Church in Ireland
374-378 Ormeau Road
Belfast
BT7 3HX
Charity Commission NI
Contact Mrs Marjorie Guiler
c/o Newtownbreda Congregation of the Presbyterian Church in Ireland
374-378 Ormeau Road
Belfast
BT7 3HX
Website Newtownbreda.org
Trustees Christopher Armstrong
Raymond Barrett
Muriel Bloomer
Neal Brown
Kenneth Campbell
Grace Chambers
Brian Compston
Deborah Doherty
Margaret Elliott
Caroline Elwood
Deborah Eve
William Ferguson
Barbara Gordon
Denis Guiler
Marjorie Guiler
Joan Henderson
Maureen Johnston
Rosemary Johnston
Rev. Paul Lutton
Desmond McClean
Hilary McCourt
Raymond McNeill
Joan McQuoid
Allison Meek
John Moutray
Lynn Orr
Helen Pallin
Peter Pallin
Wesley Parker
Vilma Patterson
Clare Pollock
Bruce Robinson
Irene Younge

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NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

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GENERAL INFORMATION ( CONTINUED)

Principal office bearers Minister Rev. Paul Lutton Clerk of Session Sir Bruce Robinson Treasurer Mr Denis Guiler Congregational secretary Mr Austin Moore Auditors GMcG Belfast Chartered Accountants & Statutory Auditor Alfred House 19 Alfred Street Belfast BT2 8EQ Bankers Danske Bank 27 Upper Galwally Belfast BT8 6FX

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NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND YEAR ENDED 31 DECEMBER 2024

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TRUSTEES’ ANNUAL REPORT

The trustees present the annual report and financial statements for Newtownbreda Congregation of the Presbyterian Church in Ireland for the year ended 31 December 2024.

The trustees have adopted the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the Annual Report and Financial Statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the financial statements and applicable accounting standards, 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 Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the charity’s governing document, the Charities Act (Northern Ireland) 2008, Charities Act (Northern Ireland) 2013, The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 and UK Generally Accepted Accounting Practice.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity name Newtownbreda Congregation of the Presbyterian Church in
Ireland
Charity Registration number NIC 104325
Charity address Newtownbreda Congregation of the Presbyterian Church in
Ireland, 374 – 378 Ormeau Road, Belfast, BT17 3HX
Contact address The Clerk of Session, c/o 374 – 378 Ormeau Road, Belfast,
BT17 3HX
Charity Commission NI contact Mrs Marjorie Guiler, c/o Newtownbreda Congregation of the
Presbyterian Church in Ireland, 374–378 Ormeau Road,
Belfast, BT17 3HX
Auditor GMcG Belfast, Chartered Accountants & Statutory Auditor,
Alfred House, Belfast, BT2 8EQ
Bankers Danske Bank, 27 Upper Galwally, Belfast BT8 6FX
Trustees

The trustees who served during the year were as follows:

Christopher Armstrong Rosemary Johnston
Raymond Barrett Rev Paul Lutton (appointed 26/01/24)
Muriel Bloomer Desmond McClean
Neal Brown Hilary McCourt
Kenneth Campbell Raymond McNeill
Grace Chambers Joan McQuoid
Brian Compston Allison Meek
Robert Cousins (deceased 21/04/25) Donald Milliken (resigned 04/09/24)
George Ditty (resigned 17/04/24) John Moutray
Deborah Doherty Lynn Orr
Margaret Elliott Helen Pallin

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NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

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TRUSTEES’ ANNUAL REPORT ( CONTINUED)

REFERENCE AND ADMINISTRATIVE DETAILS (Continued)

Trustees ( continued)

Caroline Elwood Peter Pallin Colin Eve (deceased 07/04/24) Wesley Parker Deborah Eve Vilma Patterson William Ferguson Clare Pollock Barbara Gordon Bruce Robinson Denis Guiler John Sloan (deceased 27/12/24) Marjorie Guiler Craig Stuart (deceased 22/05/24) Joan Henderson Irene Younge Ross Irvine (resigned 04/09/24) Maureen Johnston

Day to day management duties have been delegated to The Congregational Secretary.

DESCRIPTION AND PURPOSE

The charitable purpose of Newtownbreda Congregation of the Presbyterian Church in Ireland is the advancement of religion.

Newtownbreda Congregation of the Presbyterian Church in Ireland is a congregation of the Presbyterian Church in Ireland. The Presbyterian Church in Ireland, as a Reformed Church within the wider body of Christ, is grounded in the Scriptures and exists to love and honour God through faith in His Son and by the power of His Spirit and to enable her members to play their part in fulfilling God’s mission to our world.

ACTIVITIES AND OBJECTIVES

The congregation meets for worship every Sunday and visitors are made most welcome. The Sacrament of the Lord’s Supper is observed 5 times during the year and all those who have been baptised and who have made a profession of faith in the Lord Jesus Christ are admitted to the Lord’s Supper.

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NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND YEAR ENDED 31 DECEMBER 2024

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TRUSTEES’ ANNUAL REPORT ( CONTINUED)

ACTIVITIES AND OBJECTIVES (Continued)

The congregation holds regular bible study and prayer meetings and has a wide range of organisations including:

Sunday School, Sunday Club, Take Away Explorers, Scouts, Cubs, Beavers and Squirrels and Creche Focus (youth group) Rangers, Guides, Brownies and Rainbows PW Carers and Tots Asante Holiday Bible Club Koinonia Badminton Clubs The Choir Sew Crafty Coffee and Chat Community Pizza nights Messy Church Newtownbreda Strollers English classes for Refugees and Asylum Wednesday Gardeners Seekers Hong Kong Fellowship

COMPLIANCE WITH PUBLIC BENEFIT

The Presbyterian Church in Ireland meets the public benefit requirement by providing benefit to its members and the general public by making known the Christian Gospel of the Lord Jesus Christ through the advancement of religion.

PUBLIC BENEFIT

The direct benefits which flow from the purposes of the Church include the gaining of an understanding in Christian beliefs as set out in the Bible and in the Church’s subordinate standards (the Westminster Confession of Faith and the Shorter and Larger Catechisms) leading to spiritual and moral development and opportunities for response to Bible teaching. In turn, this framework leads to practical expressions of Christian beliefs and standards in the local community such as through the care of those in need (including the sick, disabled and bereaved).

Generally, the above benefits are delivered locally by congregational churches and members or are facilitated through presbyteries or are organised and delivered centrally. Local delivery is facilitated by central resources in almost all cases. Public access is made known through the use of noticeboards, printed material, press advertisement, websites, and social media or in other ways.

The benefits are demonstrated through regular evaluation of the services and informal and ad-hoc feedback from members, their families, and members of the public.

The purpose does not lead to harm. The only private benefit flowing from our purpose is related to Ministers, Missionaries, Deaconesses, Irish Mission workers and Lay Agents who receive benefits as a result of their holding office or employment. However, this is incidental and necessary in order to further our charitable purpose. There are no other private benefits. The beneficiaries of this purpose are members, their families, other individuals that the Presbyterian Church in Ireland is in direct and indirect contact with, the community in which pastoral services are provided and other communities throughout Northern Ireland, the Republic of Ireland, and worldwide which benefit from our engagement with and support for both Christian and other secular organisations, charities and individual members of the public.

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NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

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TRUSTEES’ ANNUAL REPORT ( CONTINUED)

PUBLIC BENEFIT (Continued)

The Kirk Session has had regard to the Charity Commission’s public benefit requirement statutory guidance.

ACHIEVEMENTS AND PERFORMANCE

In December 2023, the Congregation issued a unanimous call to Rev. Paul Lutton and he was installed as minister on 26 January 2024. He and his family settled quickly and have become much loved by all the congregation.

Worship and Prayer

The congregation meets for worship each Sunday at 10.30am. Services are live streamed for those unable to join in person and are also available on YouTube and Podcast platforms later in the week. Morning worship is preceded by a Prayer Time and followed by an opportunity for the church family to meet together over coffee.

We continue to strengthen the connection with families, with young children and with our young adults under the leadership of our Family worker, Sandy Kane. Carers & Tots meets weekly and Messy Church monthly under her leadership, and she and a large team of volunteers again ran a very successful Holiday Bible Club in the summer. During the Tuesday English Classes for asylum seekers and refugees, primary aged children are helped with their homework and looked after by Sandy and her team.

Members gather for prayer before the Sunday service and continue to meet together at Home Groups, of which there are now 6. A very successful Prayer Course was held in the spring, attended by 120. The newly formed Hong Kong Christian Fellowship meets monthly to worship God in Cantonese.

Our chief concern, Sunday by Sunday, is that God will be pleased with our worship and that we worship in such a way that brings glory and honour to Him. Music, singing, prayer and Bible readings are at the core of our worship and we are grateful for our dedicated and talented Director of Music, our choir and praise groups and for all our members who enhance the services with their readings from the Bible and Prayers.

As well as our services of worship, during the year we acknowledged God’s gift of new life at 2 Sacraments of Baptism. At 31 December 2024, there were 281 communicant members and 262 families connected with the congregation. The average weekly attendance at morning worship was 140.

Pastoral Care

Pastoral care and support for those who feel isolated is one of our priority issues. We are grateful for the help of Rev Corrina Heron and Rev Janice Browne who visit some of our elderly members each week. We are also grateful that we can provide additional pastoral support through an increased number of volunteers.

We continued to produce “News @ St John’s” on a monthly basis as another channel by which everyone keeps in touch with the congregation and with each other.

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NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

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TRUSTEES’ ANNUAL REPORT ( CONTINUED)

ACHIEVEMENTS AND PERFORMANCE (Continued)

Mission and Outreach

We are called in faith to follow the teachings and actions of Jesus whose response to a very messy world was to engage fully with it irrespective of cost – to reach out and seek to alleviate suffering and pain and to bridge the gaps between people, between communities and between races.

Playing an active role in the local community has been a priority for Newtownbreda for many years. At 6 Pizza nights over the summer and at the Autumn Fair in September we welcomed many of our neighbours. A printed invitation to events and services over the Christmas period was delivered to all homes in our parish. Our friends and neighbours are made especially welcome at our many organisations, including Coffee and Chat which serves as a Cosy Hub for our neighbourhood on a Friday morning.

English classes for asylum seekers and refugees continued on Tuesday evenings and Wednesday mornings. Both are well supported.

We continued to support Claire Orr prayerfully and financially in her work with Wycliffe Bible Translators in Senegal.

Our Scout and Girl Guiding organisations, The 62[nd] Belfast Scout Group – Explorers, Scouts, Cubs, Beavers and Squirrels and the 19[th] Belfast Ranger Guides, Guides, Brownies and Rainbows met throughout the year. Most of these organisations are full with waiting lists and all welcome many members from the local community. It was especially pleasing to see the church well filled with the young people and their families at the annual uniformed service in February.

Financial support for the United and World Development Appeals of the Presbyterian Church in Ireland amounted to £17,164.

Financial support from our mission fund, and directly, to Belfast City Mission and to Wycliffe Bible Translators totalled £11,200.

Presbytery

The congregation was represented at regular meetings of presbytery by our minister and one of the elders and PW was also represented by an elder.

General Assembly

The minister and one of the elders attended the meeting of the General Assembly of the Presbyterian Church in Ireland held in Assembly Buildings, Belfast in June.

Property

Expenditure on repairs and renewals during the year totalled £39,420.

Volunteers

The Trustees wish to acknowledge their most sincere appreciation to all those who give freely of their time and talents serving the congregation and its members in the ways noted above. The Trustees consider that Newtownbreda Congregation has always been particularly well served by its team of volunteers and that blessing was especially evident throughout 2024. Volunteer hours would exceed 5,000 per year.

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NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

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TRUSTEES’ ANNUAL REPORT ( CONTINUED)

FINANCIAL REVIEW

The congregation's main sources of income are members' contributions through weekly and monthly envelopes to Freewill Offering, the Building and Repair Fund and the Mission Fund together with gift aid receipts on contributions.

Total income of the congregation for the year was £307,708 (2023: £544,320) of which £243,590 (2023: £487,190) was unrestricted. Income from donations and legacies was £256,422 (2023: £516,072) of which £Nil (2023: £287,956) received from bequests, income from trading activities was £22,030 (2023: £13,601), income from investments was £24,612 (2023: £12,074) and other income was £4,644 (2023: £2,573).

This is the church’s first set out of financial statements that have been prepared on accruals basis in accordance with the charities SORP. In prior years the financial statements were prepared on a receipts and payments basis. The date of transition is 1 January 2023 and as part of the transition to the accruals basis the comparative figures for the year ended 31 December 2023 have been restated to reflect income and expenditure when earned or incurred, rather than when cash is received or paid.

Total expenditure amounted to £310,574 (2023: £243,157), net losses on investments of £750 (2023: £5,147 net gain), leaving an overall deficit for the year of £3,616 (2023: £306,310 surplus). There was a deficit of £30,239 on restricted funds, a surplus of £3,740 on endowment funds and a surplus of £22,883 on unrestricted funds in the year.

Reserves Policy

Reserves are held in order to maintain the operation of Newtownbreda Congregation of the Presbyterian Church in Ireland and to provide some surety against adverse financial events, such as a reduction in income or unplanned expenditure being required.

At 31 December 2024, the balance of the funds are restricted funds £3,209,634 (2023: £3,239,873), endowment funds £71,054 (2023: £67,314) and unrestricted funds £722,182 (2023: £699,299). The trustees are satisfied that the level of reserves is sufficient to continue the current activities of the charity in the event of a significant shortfall in income levels. The trustees will continue to review the reserves policy to ensure that the policy reflects the needs of the charity in a changing environment.

The amount of free reserves at 31 December 2024 is £272,242 (2023: £250,472), after excluding restricted funds of £3,209,634 (2023: £3,239,873), endowment funds of £71,054 (2023: £67,314) and unrestricted fixed assets of £447,940 (2023: £448,827).

Going Concern

The trustees have reviewed the financial position of Newtownbreda Congregation of the Presbyterian Church in Ireland and the budgets for the year ahead and are satisfied that there are adequate funds in place to ensure that the congregation can continue its activities for the foreseeable future and that the financial statements to 31 December 2024 can be signed as a going concern.

Future Developments

At present, the Trustees do not anticipate any significant future developments beyond the charity’s regular charitable activities.

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NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

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TRUSTEES’ ANNUAL REPORT (CONTINUED)

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Kirk Session

The charity trustees of the congregation are the members of its Kirk Session. Under the congregation’s governing document, The Code, the book of the constitution and government of the Presbyterian Church Bible in Ireland, the Kirk Session seeks to watch over and promote the spiritual interest of the congregation and of persons not connected with any congregation who are within its bounds. It ensures pastoral care is in place in the congregation and seeks to further the contribution of the Church to Christian witness and service in the local community.

The Kirk Session has delegated to its Congregational Committee the temporal affairs of the congregation including administering all funds and property belonging to the congregation. Members of the Kirk Session are ex-officio members of the Congregational Committee.

The Kirk Session consists of the ordained minister and the ruling elders of the congregation. All members are entitled to propose, speak and exercise equal votes at meetings, except that the Moderator, the minister in active duty in the congregation, has no deliberative vote but only a casting vote.

Stated meetings of the Kirk Session are held at least six times a year.

Recruitment and Appointment of the Kirk Session

To be chosen for the office of eldership in the congregation a person must be a voting member and a regular attendant on its ordinances. The selection of those proposed to be called to the office can be either by the congregation or the Kirk Session.

Under the Presbyterian Church in Ireland form of governance the corporate oversight of a congregation is the responsibility of a Presbytery which superintends generally the spiritual and temporal affairs of the congregations assigned to it by the General Assembly of the Presbyterian Church in Ireland. Newtownbreda congregation of the Presbyterian Church has been assigned to the South Belfast Presbytery of the Presbyterian Church in Ireland.

The membership of the Presbytery consists mainly of the active ministers of the congregations assigned to it by the General Assembly, ministers who have retired from active duty and an elder appointed by the Kirk Session of the congregation.

The General Assembly

The General Assembly is the supreme court of the Church, representing in one body the whole Church and acting as its supreme legislative, administrative and judicial authority, in dealing with all matters brought before it. The General Assembly is normally constituted in June for worship and to conduct its business. At the end of business it is dissolved.

The membership of the General Assembly consists mainly of the active ministers of each congregation, retired ministers and a representative elder appointed by the Kirk Session of each congregation.

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NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

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TRUSTEES’ ANNUAL REPORT (CONTINUED)

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in the Northern Ireland requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act (Northern Ireland) 2008, the Charity (Accounts and Reports) Regulations (Northern Ireland) 2015 and the provisions of the Constitution of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement as to disclosure to our auditors

In so far as the trustees are aware at the timing of approving our trustees’ annual report:

Independent Auditor

The auditors, GMcG Belfast, have indicated their willingness to continue in office.

Signed on behalf of the trustees:

Bruce Robinson Trustee

Date: 8 October 2025

Denis Guiler Trustee Date: 8 October 2025

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_______________ INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

Opinion

We have audited the financial statements of Newtownbreda Congregation of the Presbyterian Church in Ireland (the ‘charity’) for the year ended 31[st] December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK)(ISAs(UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

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INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF NEWTOWNBREDA CONGREGATION OF THE PRESBYRERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024 (CONTINUED)

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 requires us to report to you if, in our opinion:

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INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024 (CONTINUED)

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 11, the trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 65(2) of the Charities Act (Northern Ireland) 2008 and report in accordance with regulations made under section 66 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform the audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

In identifying and assessing potential risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

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INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024 (CONTINUED)

Extent to which the audit was considered capable of detecting irregularities, including fraud (continued)

As a result of these procedures, we considered the opportunities that may exist within the charity for fraud and identified the greatest potential for fraud in revenue recognition. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the Charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included Charity legislation applicable to Northern Ireland, charity’s governing document and local tax legislation.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the charity’s ability to operate or to avoid a material penalty.

Audit response to risks identified

Our procedures to respond to risks identified include the following:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement teams members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

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INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024 (CONTINUED)

Audit response to risks identified (continued)

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. In addition, as with any audit, there remains a higher risk of non-detection of irregularities, as they may involve collusion, forgery, intentional omissions, misrepresentations, or the override of controls. We are not responsible for preventing noncompliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Nigel Moore FCA (Senior Statutory Auditor) for and on behalf of GMcG Belfast

Chartered Accountants Statutory Auditor

Chartered Accountants & Statutory Auditor Alfred House 19 Alfred Street Belfast BT2 8EQ

Dated:

9 October 2025

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NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

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STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2024

Income from:
Donations and legacies
Other trading activities
Investments
Other
Total income
Expenditure
Charitable activities
Other
Total expenditure
Net (losses)/gains on
investments
Net
income/(expenditure)
Transfers between
funds
Net movement in
funds
Reconciliation of
funds:
Total funds brought
forward
Total funds carried
forward		 Notes
3
4
5
6
7/8
7
10
 Unrestricted
funds
£
198,570
22,030
22,990
-
243,590
(217,371)
-
(217,371)
(3,336)
22,883
-
22,883
699,299
722,182		 DRAFT
Restricted
funds
£
57,852
-
268
4,644
62,764
(90,350)
(2,653)
(93,003)
-
(30,239)
-
(30,239)
3,239,873
3,209,634		 Endowment
funds
£
-
-
1,354
-
1,354
(200)
-		 Total
2024
£
256,422
22,030
24,612
4,644
307,708
(307,921)
(2,653)
(310,574)
(750)
(3,616)
-
(3,616)
4,006,486
4,002,870		 Total
2023
£
516,072
13,601
12,074
2,573
544,320
(240,217)
(2,940)
(200)
2,586
3,740
-
3,740
67,314
71,054		 (243,157)
5,147
306,310
-
306,310
3,700,176
4,006,486

The Statement of Financial Activities includes all gains and losses recognised in the year.

All incoming resources and resources expended derive from continuing activities.

The notes on pages 20 to 40 form part of these financial statements.

17

NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

________________

BALANCE SHEET – 31 DECEMBER 2024

Fixed assets
Tangible assets
Heritage assets
Investments
Current assets
Debtors
Investments
Cash at bank and in hand
Creditors: amounts falling due within one
year
Net current assets
Total assets less current liabilities
Net assets
Charity Funds
Restricted funds
Restricted Income Funds
Revaluation reserve
Endowment Funds
Unrestricted funds
General fund
Total charity funds		 DRAFT
Notes
15
16
17
18
19
20
23
21
21
21
21		 2024
£
3,099,576
-
502,810
3,602,386
8,309
250,000
151,970
410,279
(9,795)
400,484
4,002,870
4,002,870
123,206
3,086,428
3,209,634
71,054
3,280,688
722,182
4,002,870		 2023
£
3,130,714
-
503,521
3,634,235
289,734
-
88,719
378,453
(6,202)
372,251
4,006,486
4,006,486
109,159
3,130,714
3,239,873
67,314
3,307,187
699,299
4,006,486

The notes on pages 20 to 40 form part of these financial statements.

The financial statements were approved and authorised for issue by the trustees on 8 October 2025 and signed on their behalf by:

Bruce Robinson (Trustee)

Denis Guiler (Trustee)

Date: 8 October 2025____

8 October 2025_

18

NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

________________

STATEMENT OF CASH FLOWS – 31 DECEMBER 2024

DRAFT
Notes
Cash flows from operating activities:
Net cash provided by operating activities
24
Cash flows from investing activities:
Dividends and interest from investments
Purchase of investments
Proceeds from sale of investments
Purchase of tangible fixed assets
Net cash flow from investing activities
Net increase / (decrease) in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning of the reporting
period
Cash and cash equivalents at the end of the reporting period
Analysis of cash and cash equivalents
Cash at bank and in hand
Total cash and cash equivalents		 2024
£
310,863
16,265
(250,039)
-
(13,838)
(247,612)
63,251
88,719
151,970
151,970
151,970		 2023
£
42,917
12,036
(150,683)
239
-
(138,408)
(95,491)
184,210
88,719
88,719
88,719

19

NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

________________

NOTES TO THE FINANCIAL STATEMENTS

1. ACCOUNTING POLICIES

1. Summary of significant accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

(a) General information and basis of preparation

Newtownbreda Congregation of the Presbyterian Church in Ireland is a charity registered with The Charity Commission for Northern Ireland under registration number NIC 104325. The address of the registered office is given in the charity information on page 2 of these financial statements. The nature of the charity’s operations and principal activities are the advancement of religion.

Newtownbreda Congregation of the Presbyterian Church in Ireland constitutes a public benefit entity as defined by FRS 102.

Statement of compliance

The financial statements have been prepared in accordance with applicable accounting standards, 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 Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act (Northern Ireland) 2008, Charities Act (Northern Ireland) 2013, The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 and UK Generally Accepted Accounting Practice.

In prior years, the financial statements were prepared on a receipts and payments basis. As part of the transition to the accruals basis, the comparative figures for the year ended 31 December 2023 have been restated to reflect income and expenditure when they are earned or incurred, rather than when cash is received or paid. This has resulted in the recognition of certain items in the comparative year that had previously been excluded under the receipts and payments basis. During the year ended 31 December 2023, the charity was notified it was entitled to a percentage share of a bequest receivable from the estate of a member of the congregation and probate was granted prior to the year end. Although the exact amount was not confirmed at that time, subsequent to the year end, the executors of the estate confirmed the amount and the charity received £282,956 in the year ended 31 December 2024. As entitlement existed at 31 December 2023, this amount has been recognised as income and included within debtors in the year ended 31 December 2023.

The financial statements have been prepared on the going concern basis under the historical cost convention, as modified to include certain items at fair value including leasehold land and buildings which are stated at a previous valuation (deemed cost) and fixed asset investments at market value. The valuation policy will still be applicable for investments. The financial statements are prepared on the accruals basis and are presented in sterling which is the functional currency of the charity and rounded to the nearest £1.

20

NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

________________

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

1. ACCOUNTING POLICIES (CONTINUED)

1. Summary of significant accounting policies (continued)

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of resources for the charity to be able to continue as a going concern.

(b) Funds

Funds are classified as either restricted funds or unrestricted funds.

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

Restricted income funds are funds which are to be used in accordance with specific restrictions by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Endowment funds represent assets which must be held permanently by the charity. Income arising from the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.

Investment income, gains and losses are allocated to its appropriate fund.

(c) Income

Plate Collections and weekly and monthly Envelopes are accounted for on a cash receipts basis as the amount is collected.

Income from gift aid is recognised in the year the gift aid is received.

Income arising from the rental of Church facilities to third parties is recognised when the church has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and the amount can be measured reliably.

Legacies and bequests are included within income under either unrestricted or restricted funds according to the terms under which the donation is made. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised.

21

NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

________________

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

1. ACCOUNTING POLICIES (CONTINUED)

1. Summary of significant accounting policies (continued) 

  - **(d) Income** _**(continued)**_

On occasion, legacies will be notified to the charity, however, it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.

Donations and gifts in kind are brought into the accounts at their fair value to the church.

Income from trading activities includes income from other organisations. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

Investment income is earned through holding assets for investment purposes such as investments held with Presbyterian Church Ireland and investments in non-managed portfolios invested in shares and unit trusts. It includes dividends and interest. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. Interest and dividends together with any reclaimable tax credits are included in the accounts as received.

(e) Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.

It is categorised under the following headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

(f) Support cost allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include running costs, governance costs, and administrative costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of resources.

The analysis of these costs is included in note 7.

22

NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

________________

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

1. ACCOUNTING POLICIES (CONTINUED)

1. Summary of significant accounting policies (continued)

(g) Tangible fixed assets

The assets of the church comprise land and buildings and fixtures, fittings and equipment.

In prior years, the financial statements were prepared on a receipts and payments basis. As part of the transition to the accruals basis the manse, church halls and land are stated at deemed cost based on a previous valuation. Tangible assets except for the manse and church are initially recorded at cost or deemed cost and subsequently stated at cost or deemed cost less any accumulated depreciation and impairment losses.

The manse is stated at deemed cost based on a previous market valuation, less any subsequent accumulated impairment losses and is not depreciated.

The main church building is deemed to be a Heritage asset as defined by the Charities SORP (FRS102) and is not included in the balance sheet.

The land and buildings comprise of the church halls and land at 374 Ormeau Road, Belfast and the Manse at 6 Hampton Park, Belfast, BT7 3JL.

The church halls and long leasehold land on which it is situated is stated at a valuation based on depreciated replacement cost rather than at market value as the trustees do not believe that a reliable market valuation is possible.

(h) Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold land - Nil Manse - Nil Church halls - 2% straight line Fixtures, fittings and equipment - 10% straight line

No depreciation has been provided on the manse as the current estimated residual value is not less than its carrying value and the remaining useful life currently exceeds 50 years.

23

NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

________________

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

1. ACCOUNTING POLICIES (CONTINUED)

1. Summary of significant accounting policies (continued)

(i) Heritage asset

The main church is deemed to be a Heritage asset as defined by the Charities SORP (FRS102). The Heritage asset is not included in the balance sheet as information on the cost or valuation is not available.

(j) Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

(k) Investments

Fixed asset investments comprising investments held by Presbyterian Church Ireland and investments in a non-managed portfolio with Evelyn & Partners are initially recorded at cost and are then subsequently stated at fair value at each balance sheet date.

Unrealised gains and losses represent the difference between the fair value at the beginning and end of the financial year or, if purchased in the year, the difference between cost and fair value at the end of the year.

Realised gains and losses represent the difference between the proceeds on disposal and the fair value at the start of the year or cost if purchased in the year. Both realised and unrealised gains and losses in investments are reported within “Net Gains / (Losses) on Investments” within the Statement of Financial Activities.

24

NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

________________

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

1. ACCOUNTING POLICIES (CONTINUED)

(k) Investments (continued)

(l) Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Cash and cash equivalents includes cash in hand, short-term deposits held with banks and other short-term highly liquid investments with original maturities of three months or less.

(n) Financial instruments

The church only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction price and subsequently measured at their settlement value.

(o) Tax

The charity is exempt from tax and capital gains tax to the extent that its income and gains are applied for charitable purposes. No tax charge has arisen. Recovery is made of tax deducted from receipts under gift aid. The charity is not registered for VAT purposes, therefore expenditure is shown gross of VAT.

(p) Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or noncurrent assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

(q) Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

(r) Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds and the expected level of income for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of resources for the charity to be able to continue as a going concern.

25

NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND YEAR ENDED 31 DECEMBER 2024

________________

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

2. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

Fixed assets

The annual depreciation charge on fixed assets depends primarily on the estimated useful lives of each type of asset and estimates of residual values. The trustees regularly review these assets' lives and change them as necessary to reflect current thinking on remaining lives in light of prospective economic utilisation and physical condition of the assets concerned. Changes in assets' lives can have a significant impact on depreciation charges for the period. Detail of the useful lives is included in the accounting policies.

At each balance sheet date, the church halls, the land on which the church halls are situated, and the manse are remeasured to fair value. The trustees reassess these valuations annually and obtain an external valuation of these properties every few years which the trustees consider when valuing the property at the balance sheet date. Assessing the fair value of these properties therefore involves judgement and estimation uncertainty.

Valuation of investments

At each balance sheet date, fixed asset investments are remeasured at market value based on the valuation obtained from the external professional valuer. Assessing the fair value of these fixed asset investments therefore involves judgement and estimation uncertainty.

Support costs

Judgements are made in relation to the allocation of support costs of the charity to its charitable activities.

Where support costs cannot be directly attributed to particular headings the trustees consider it appropriate to allocate these costs to expenditure on charitable activities on a basis consistent with use of resources.

Restricted funds

Judgements are made in relation to allocation of income and expenditure to restricted and unrestricted funds.

The trustees consider it appropriate to allocate these funds based on interpretation of donations received.

26

NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

________________

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

3. INCOME FROM DONATIONS AND LEGACIES

FWO, envelopes and
loose collections
Donations
Gift Aid
Mission Fund
Contributions
Fundraising and
catering
Legacies and
bequests
Autumn Fete
Art exhibition
United Appeal
World Development
Appeal
Special collections		 Unrestricted
funds
Restricted
funds
Endowment
funds
Total
Funds
2024
Unrestricted
funds
Restricted
funds
Endowment
funds
Total
Funds
2023
£
£
£
£
£
£
£
£
153,299
20,919
-
174,218
141,199
17,862
-
159,061
12,105
105
-
12,210
-
74
-
74
33,166
8,150
-
41,316
32,853
10,448
-
43,301
-
11,244
-
11,244
-
13,707
-
13,707
-
2,495
-
2,495
-
2,850
-
2,850
-
-
-
-
288,800
-
-
288,800
-
4,209
-
4,209
-
3,339
-
3,339
-
6,000
-
6,000
-
-
-
-
-
300
-
300
-
300
-
300
-
2,930
-
2,930
-
2,540
-
2,540
-
1,500
-
1,500
2,100
-
2,100
DRAFT
198,570
57,852
-
256,422
462,852
53,220
-
516,072

4. INCOME FROM TRADING ACTIVITIES

Contributions from
organisations
Ground rents		 Unrestricted
funds
Restricted
funds
Endowment
funds
Total
Funds
2024
Unrestricted
funds
Restricted
funds
Endowment
funds
Total
Funds
2023
£
£
£
£
£
£
£
£
22,014
-
-
22,014
13,585
-
-
13,585
16
-
-
16
16
-
-
16
22,030
-
-
22,030
13,601
-
-
13,601

The church allows some non-profit organisations with similar values and objectives to use their halls. In return, some of those organisations make contributions towards heat, light and upkeep of the halls.

27

NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

________________

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

5. INCOME FROM INVESTMENTS

Unrestricted
funds
Restricted
funds
£
£
General Fund
- Lowry
Memorial
Fund interest
-
-
- Interest and
dividends
from
investments
14,159
-
- Short term
deposit
8,309
-
- Bank interest
522
-
Benevolent Fund
– interest
-
90
Pinkerton
Memorial Fund –
interest
-
178
22,990
268
6.
OTHER INCOME
Unrestricted
funds
Restricted
funds
£
£
Other church
organisations
-
4,644
-
4,644		 Unrestricted
funds
Restricted
funds
£
£
-
-
14,159
-
8,309
-
522
-
-
90
-
178		 Endowment
funds
£
1,354
-
-
-
-
-		 Total
Funds
2024
£
1,354
14,159
8,309
522
90
178		 Unrestricted
funds
£
-
9,310
-
1,429
-
-		 Restricted
funds
£
-
-
-
-
90
178		 Endowment
funds
£
1,067
-
-
-
-
-

Total
Funds
2023
£
1,067
9,310
-
1,429
90
178
22,990
268		 1,354 24,612 10,739 268 1,067 12,074
Endowment
funds
£
-		 DRAFT
Total
Funds
2024
£
4,644		 Unrestricted
funds
£
-

Restricted
funds
£
2,573		 Endowment
funds
£
-

Total
Funds
2023
£
2,573
-
4,644		 - 4,644 - 2,573 - 2,573

28

NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

________________

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

7. ANALYSIS OF TOTAL EXPENDITURE

Charitable Activities
Direct costs:
Staff costs, stipends
and allowances
Assessments
Donations:
- United Appeal
- World Development
Appeal
- Belfast City Mission
- Other
Mission projects
Sundry
Support costs:
Establishment costs
Depreciation
Investment
management fees
Repairs and renewals:
Printing, stationery,
books and advertising
Choir and organ
expenses
Sundries
Sunday School, Bible
Class Focus & Youth
Work
Governance
Other Costs
Other church
organisations
Total Expenditure		 Unrestricted
funds
Restricted
funds
Endowment
funds
Total
Funds
2024
Unrestricted
funds
Restricted
funds
Endowment
funds
Total
Funds
2023
£
£
£
£
£
£
£
£
110,177
-
-
110,177
68,619
-
-
68,619
22,028
-
-
22,028
18,856
-
-
18,856
13,934
300
-
14,234
14,908
300
-
15,208
-
2,930
-
2,930
-
2,540
-
2,540
-
1,200
-
1,200
-
1,200
-
1,200
-
300
200
500
-
900
-
900
-
20,523
-
20,523
-
10,536
-
10,536
-
1,612
-
1,612
-
1,423
-
1,423
146,139
26,865
200
173,204
102,383
16,899
-
119,282
DRAFT
27,911
-
-
27,911
26,201
-
-
26,201
62
44,914
-
44,976
-
44,286
-
44,286
1,321
-
-
1,321
958
-
-
958
21,151
18,269
39,420
9,094
33,535
-
42,629
3,241
302
-
3,543
2,120
-
-
2,120
2,380
-
-
2,380
1,131
-
-
1,131
9,920
-
-
9,920
2,690
-
-
2,690
1,646
-
-
1,646
920
-
-
920
3,600
-
-
3,600
-
-
-
-
71,232
63,485
-
134,717
43,114
77,821
-
120,935
217,371
90,350
200
307,921
145,497
94,720
-
240,217
-
2,653
-
2,653
-
2,940
-
2,940
-
2,653
-
2,653
-
2,940
-
2,940
217,371
93,003
200
310,574
145,497
97,660
-
243,157

29

NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

________________

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

8. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES

Advancement of the
Christian Religion
Activities undertaken
directly
Support costs		 Unrestricted
funds
Restricted
funds
Endowment
funds
Total
Funds
2024
Unrestricted
funds
Restricted
funds
Endowment
funds
Total
Funds
2023
£
£
£
£
£
£
£
£
146,139
26,865
200
173,204
102,383
16,899
-
119,282
71,232
63,485
-
134,717
43,114
77,821
-
120,935
217,371
90,350
200
307,921
145,497
94,720
-
240,217

9. GOVERNANCE COSTS

Auditor’s
remuneration		 Unrestricted
funds
Restricted
funds
Endowment
funds
Total
Funds
2024
Unrestricted
funds
Restricted
funds
Endowment
funds
Total
Funds
2023
£
£
£
£
£
£
£
£
3,600
-
-
3,600
-
-
-
-
3,600
-
-
3,600
-
-
-
-

10. GAIN/(LOSS) ON INVESTMENTS

Fair value gains
/(losses) on
investments
-
unrealised
(loss)/gain
-
realised
gain/(loss)		 Unrestricted
funds
Restricted
funds
Endowment
funds
Total
Funds
2024
Unrestricted
funds
Restricted
funds
Endowment
funds
Total
Funds
2023
£
£
£
£
£
£
£
£
(3,336)
-
-
(3,336)
2,352
-
4,539
6,891
-
-
2,586
2,586
(1,744)
-
-
(1,744)
(3,336)
-
2,586
(750)
608
-
4,539
5,147

11. TAXATION

Newtownbreda Congregation of the Presbyterian Church in Ireland is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation on its charitable activities.

12. AUDITOR'S REMUNERATION

The auditor's remuneration amounts to an audit fee of £3,600 (2023: £Nil) and other services of £Nil (2023: £Nil).

30

NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

________________

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

13. STAFF COSTS AND EMPLOYEE BENEFITS

Wages and salaries
Social security
Defined contribution pension costs
Allocated to:
Charitable activities
he average number of persons employed by the charity during the year was as
Administration		 2024
£
37,498
-
-
37,498
2024
£
37,498
37,498
follows:
2024
Number
4
4		 2023
£
34,768
-
-
34,768
2023
£
34,768
34,768
2023
Number
4
4

The average number of persons employed by the charity during the year was as follows:

No employee received employee benefits of more than £60,000 during the year (2023: None).

14. TRUSTEES’ AND KEY MANAGEMENT PERSONNEL REMUNERATION AND EXPENSES

During the year, one trustee (Rev Paul Lutton) (2023: one trustee, Rev A Tolland) has been paid remuneration in his capacity as a minister. Further details are shown in note 26.

The charity considers its key management personnel comprise the trustees. The total amount of employee benefits received by key management personnel was £66,946 (2023: £20,426).

The charity paid expenses of £Nil (2023: £Nil) relating to the running costs of the manse which is occupied by the minister.

Expenses amounting to £581 were reimbursed to the Rev Paul Lutton and in the prior year £500 of expenses were reimbursed to Rev A Tolland.

In common with other religious charities, most work within the church and its organisations is carried out by volunteers, who may also be Trustees, who necessarily incur expenses while volunteering. £5,497 (2023: £8,115) was reimbursed to 6 trustees (2023: 3) in relation to refugee language classes, repairs and maintenance and other sundry expenditure. Other than the minister, no trustees were remunerated for any work undertaken.

31

NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

________________

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

15. TANGIBLE FIXED ASSETS

Cost or deemed cost
At 1 January 2024
Additions
At 31 December 2024
Depreciation
At 1 January 2024
Charge for the year
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023
Land and buildings:
Long leasehold:
Church halls
Church halls - land
Manse		 DRAFT
Leasehold land
and buildings
£
3,175,000
-
3,175,000
44,286
44,286
88,572
3,086,428
3,130,714		 Fixtures,
fittings and
equipment
£
-
13,838
13,838
-
690
690
13,148
-
2024
£
1,461,428
750,000
875,000
3,086,428		 Total
£
3,175,000
13,838
3,188,838
44,286
44,976
89,262
3,099,576
3,130,714
2023
£
1,505,714
750,000
875,000
3,130,714

An independent valuer, McQuoids Estate Agents & Chartered Surveyors, 432 – 434 Ormeau Road, Belfast, BT7 3HY, performed a valuation of the church property on 2 June 2025 and valued them with an effective date of 31 December 2022 as follows:

The church halls and land are recognised at depreciated replacement cost rather than at market value as the trustees do not believe that a reliable market valuation is possible.

The trustees believe that these valuations as at 31 December 2022 are not materially different to those as at 31 December 2023 and 31 December 2024.

On transition to the Charities SORP from 1 January 2023 the church has used these valuations as deemed cost on transition. Going forward the church has adopted a policy of non-revaluation.

16. HERITAGE ASSET

The church building is deemed to be a heritage asset as defined by the Charities SORP 2019 (FRS 102).

This heritage asset is not included in the balance sheet as information on the cost or valuation is not available.

32

NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

________________

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

17. FIXED ASSET INVESTMENTS

Valuation
At 1 January 2024
Additions
Revaluation
At 31 December 2024
Impairment
At 1 January 2024
Additions
Revaluation
At 31 December 2024
Carrying amount
At 31 December 2024
At 31 December 2023
Investments at fair value comprise:
Non-managed portfolio:
Bonds
Multi-asset
Property
Equities:
UK
Overseas
Global
Investments held by PCI		 DRAFT
Presbyterian
Church in
Ireland (PCI)
Investments
£
54,694
-
2,586
57,280
-
-
-
-
57,280
54,694		 Non
managed
portfolio of
Investments
£
448,827
39
(3,336)
445,530
-
-
-
-
445,530
448,827
2024
£
157,828
18,996
17,102
104,381
137,511
9,712
445,530
57,280
502,810		 Total
£
503,521
39
(750)
502,810
-
-
-
-
502,810
503,521
2023
£
165,798
18,560
19,916
103,245
131,492
9,816
448,827
54,694
503,521

Non- managed portfolio of investments is valued by Evelyn & Partners at fair value (market value where applicable) at the balance sheet date. Investments held by Presbyterian Church in Ireland (PCI) are stated at fair value at the balance sheet date.

33

NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

________________

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

18. DEBTORS

8. DEBTORS
Other debtors
Prepayments and accrued income		 2024
£
-
8,309
8,309		 2023
£
287,956
1,778
289,734

At 31 December 2023, the charity was notified and entitled to a bequest from the estate of a member of the congregation, although the amount was not confirmed at that time, subsequent to the year end, the executors of the estate confirmed and received the bequest amount in the year ended 31 December 2024. As the entitlement existed and probate had occurred by 31 December 2023, this amount has been recognised as income and included within debtors in the year ended 31 December 2023.

19. CURRENT ASSET INVESTMENTS

Short term deposits 2024
£
250,000
250,000		 2023
£
-
-

Short-term deposits are measured at cost less impairment on the basis they represent deposits with a maturity term greater than 3 months up to one year. £250,000 was invested in a fixed term deposit with a maturity period of 9 months and an interest rate of 4.3%.

20. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Accruals and deferred income
Taxation and social security
Other creditors		 2024
£
5,332
1,533
2,930
9,795		 2023
£
2,605
1,057
2,540
6,202

34

NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

________________

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

21. FUNDS RECONCILIATION

Restricted Funds
Income Funds
Benevolent Fund
Pinkerton Memorial Fund
Building and Repair Fund
Mission Fund
Presbyterian Women
Koinonia
United Appeal
World Development Appeal
Belfast City Mission
Earl Haig
Fixed assets revaluation reserve
Endowment Funds
Lowry Memorial Fund
Fulton
PW – Harkness & Deans
Total Restricted Funds
Unrestricted Funds
General Funds
Total Unrestricted Funds
Total Funds		 As at
1 January
2024
Incoming
£
£
2,241
90
6,325
178
(5,598)
35,612
104,329
17,510
1,053
3,813
809
831
-
300
-
2,930
-
1,200
-
300		 Expenditure
£
-
(300)
(18,899)
(22,135)
(1,793)
(860)
(300)
(2,930)
(1,200)
(300)		 Transfers
£
-
-
-
-
-
-
-
-
-
-		 Gain /
(loss)
£
-
-
-
-
-
-
-
-
-
-		 As at
31 December
2024
£
2,331
6,203
11,115
99,704
3,073
780
-
-
-
-
109,159
62,764
3,130,714
-		 (48,717)
(44,286)		 - - 123,206
3,086,428
DRAFT
3,239,873
62,764
61,285
1,354
5,000
-
1,029
-		 (93,003)
(200)
-
-		 -
-
-
-		 -
2,586
-
-		 3,209,634
65,025
5,000
1,029
67,314
1,354		 (200) - 2,586 71,054
3,307,187
64,118		 (93,203) - 2,586 3,286,285
As at
1 January
2024
Incoming
£
£
699,299
243,590		 Expenditure
£
(217,371)		 Transfers
£
-		 Gain /
(loss)
£
(3,336)		 As at
31 December
2024
£
722,182
699,299
243,590		 (217,371) - (3,336) 722,182
4,006,486
307,708		 (310,574) - (750) 4,002,870

35

NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

________________

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

21. FUNDS RECONCILIATION (CONTINUED)

Restricted Funds
Income Funds
Benevolent Fund
Pinkerton Memorial Fund
Building and Repair Fund
Mission Fund
Presbyterian Women
Koinonia
United Appeal
World Development Appeal
Belfast City Mission
Earl Haig
Fixed assets revaluation reserve
Endowment Funds
Lowry Memorial Fund
Fulton
PW – Harkness & Deans
Total Restricted Funds
Unrestricted Funds
General Fund
Total Unrestricted Funds
Total Funds		 As at
1 January
2023
Incoming
£
£
2,151
90
6,146
179
-
27,937
95,946
20,343
1,432
1,802
797
772
-
300
-
2,540
-
1,200
-
900		 Expenditure
£
-
-
(33,535)
(11,960)
(2,181)
(760)
(300)
(2,540)
(1,200)
(900)		 Transfers
£
-
-
-
-
-
-
-
-
-
-		 Gain /
(loss)
£
-
-
-
-
-
-
-
-
-
-		 As at
31 December
2023
£
2,241
6,325
(5,598)
104,329
1,053
809
-
-
-
-
106,472
56,063
3,175,000
-		 (53,376)
(44,286)		 -
-		 -
-		 109,159
3,130,714
DRAFT
3,281,472
56,063
55,679
1,067
5,000
-
1,029
-		 (97,662)
-
-
-		 -
-
-
-		 -
4,539
-
-		 3,239,873
61,285
5,000
1,029
61,708
1,067		 - - 4,539 67,314
3,343,180
57,130		 (97,662) - 4,539 3,307,187
As at
1 January
2023
Incoming
£
£
356,996
487,190		 Expenditure
£
(145,495)		 Transfers
£
-		 Gain /
(loss)

£
608		 As at
31 December
2023
£
699,299
356,996
487,190		 (145,495) - 608 699,299
3,700,176
544,320		 (243,157) - 5,147 4,006,486

36

NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

________________

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

21. FUNDS RECONCILIATION (CONTINUED)

Fund descriptions

The income in the General Fund comprises mainly of donations from collections and gift aid. Expenses within the General Fund relate to the raising funds and charitable activities of the charity.

The income in the General Fund comprises mainly of donations from collections and gift aid. Expenses within the General Fund relate to the raising funds and charitable activities of the charity.

The income and expenditure in the restricted funds relate to donations to the building fund and other specific donations during the year.

The income and expenditure in the restricted endowment funds relate to donations received from families in prior years which has restrictions on its use. Some of the funds have been invested.

Restricted income funds

Restricted endowment funds

Unrestricted general funds

22. TRANSFERS

No funds were transferred between unrestricted, restricted and/or endowment funds during the year (2023: £Nil).

37

NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

________________

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

23. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Restricted Endowment Unrestricted Total
£ £ £ £
Fixed assets
– tangible 3,097,166 - 2,410 3,099,576
502,810
400,484
– investments - 57,280 445,530
Net current assets 112,468 13,774 274,242
As at 31 December 2024
3,209,634 71,054 722,182 4,002,870
Fixed assets
– tangible
– investments
Net current assets		 Restricted
Endowment
Unrestricted
Total
£
£
£
£
3,130,714
-
-
3,130,714
-
54,694
448,827
503,521
109,159
12,620
250,472
372,251
As at 31 December 2023 3,239,873
67,314
699,299
4,006,486
DRAFT
24. RECONCILIATION OF NET (EXPENDITURE) / INCOME TO CASH FLOW FROM OPERATING
ACTIVITIES
2024
2023
£
£
Net (expenditure) / income for the year
(3,616)
306,310
Depreciation 44,976
44,286
Dividends and interest from investments
(16,265)
(12,036)
Losses/ (gains) on investments 750
(5,147)
(Increase) /decrease in debtors 281,425
(289,734)
Increase /(decrease) in creditors 3,593
(762)
310,863
42,917

38

NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

YEAR ENDED 31 DECEMBER 2024

________________

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

25. PENSIONS AND OTHER POST-RETIREMENT BENEFITS

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 earnings. 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 2 March 2022 whereby the Presbyterian Church agreed to pay from 31 December 2023 contributions of 24% of pensionable salaries to cover the accrual of benefits for future service, expenses and the cost of insuring death in service benefits. The contributions made by the congregation during the year were:

2024 2023
£ £
Minister pension contributions
10,578		 3,185

26. RELATED PARTY TRANSACTIONS

The Rev P Lutton and Rev A Tolland were trustees as their role as minister. They were paid remuneration in their capacity as a minister of the church.

The Presbyterian Church in Ireland, which is a separate charity, is a related party.

During the year, the congregation contributed the following amounts to Funds of the General Assembly of the Presbyterian Church in Ireland:

Congregational assessments
United Appeal
World Development Appeal
Rev P Lutton - Stipend
Rev P Lutton – Pension contributions
Rev P Lutton - Allowances
Rev P Lutton- National insurance contributions
Rev A Tolland - Stipend
Rev A Tolland - Pension contributions
Rev A Tolland - National insurance contributions
Rev A Tolland - Allowances
Sundries		 2024
£
20,174
14,234
2,930
44,075
10,578
6,563
5,730
-
-
-
-
770
105,054		 2023
£
17,175
15,208
2,540
-
-
-
-
13,769
3,185
1,815
1,657
468
55,817

In addition to the above, the minister’s expenses of £581 (2023: £500) were paid by the congregation.

39

NEWTOWNBREDA CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND YEAR ENDED 31 DECEMBER 2024

________________

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

26. RELATED PARTY TRANSACTIONS (CONTINUED)

The South Belfast Presbytery of the Presbyterian Church in Ireland, which is a separate charity, is a related party.

During the year, the congregation contributed the following amounts to South Belfast Presbytery of the Presbyterian Church in Ireland:

2024 2023
£ £
Presbytery assessment 1,854 1,681

In common with other religious charities, most work within the church and its organisations is carried out by volunteers who necessarily incur expenses while volunteering. Expenses amounting to £15,649 (2023: £Nil) were reimbursed to church members, who are close family members of Trustees for repairs and maintenance and other work.

27. FINANCIAL INSTRUMENTS

The carrying amounts of the charity’s financial instruments are as follows:

DRAFT
Financial assets
Measured at fair value through net income / expenditure:
Fixed asset investments
Debt instruments measured at cost less impairment:
Current asset investments – short term deposit		 2024
£
502,810
250,000
752,810		 2023
£
503,521
-
503,521

The income, expenses, net gains and net losses attributable the charity's financial instruments are summarised as follows:

Income and (expenses):
Financial assets measured at fair value through net income / expenditure:
Fixed asset investments
Debt instruments measured at cost less impairment:
Current asset investments – short term deposit
Net gains and (losses):
Financial assets measured at fair value through net income / expenditure:
Fixed asset investments		 2024
£
15,513
8,309
23,822
(750)
(750)		 2023
£
10,377
-
10,377
5,147
5,147

Details of interest income and interest expenses reflected in net income are shown within note 5 in the notes to the financial statements.

40