Eglinton Presbyterian Church - a Congregation of the
Presbyterian Church in Ireland
Financial Statements
For the year ended 31 December 2024
Registered Charity in Northern Ireland ( NIC 104332 )
Eglinton Presbyterian Church - a Congregation of The Presbyterian Church in Ireland Statement of Financial Activity ( Receipts and Payments Account ) for the year ended 31 December 2024
| Unrestricted Restricted Endowment Total Notes Funds Funds Funds 2024 £ £ £ £ Receipts Donations and legacies 2 91664 33287 124951 Charitable activities 3 0 0 0 Other trading activities 4 0 2663 2663 Investment Income 5 142 0 142 Other 6 1990 25820 27810 Organisations 0 48251 48251 Sale of Investments 0 0 0 0 Sale of fixed assets 0 0 0 0 Loans Received 0 0 0 0 Total Receipts 93796 110021 0 203817 Payments Raising funds 7 640 0 0 640 Charitable activities 8 92342 119335 0 211677 Organisations 0 30555 0 30555 Purchase of Investments 0 0 0 0 Purchase of fixed assets 0 0 0 0 Loan Repayments 0 0 0 0 Total Payments 92982 149890 0 242872 Net receipts / (payments) 814 -39869 0 -39055 Transfers between funds -4905 4905 Net movement in funds -4091 -34964 0 -39055 Funds brought forward 38541 647246 0 685787 Funds carried forward 10 34450 612282 0 **646732 ** |
Total 2023 £ 127769 5 1634 777 28516 25821 29233 0 0 213755 738 129356 23218 0 0 0 153312 60443 60443 625344 625344 |
|---|---|
Page -1-
Eglinton Presbyterian Church - a Congregation of The Presbyterian Church in Ireland
Statement of Assets and Liabilities as at 31 December 2024
| **Unrestricted ** | **Restricted ** | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2024 | 2023 | |
| £ | £ | £ | £ | £ | |
| Funds Reconciliation | |||||
| Net assets at start of year | 38541 | 647246 | 0 | 685787 | 625344 |
| Net movement in funds | -4091 | -34964 | 0 | -39055 | 60443 |
| Net assets at end of year | 34450 | 612282 | 0 | 646732 | 685787 |
| Bank & Cash Balances | |||||
| Ulster Bank current account No.1 | 30921 | 38464 | |||
| Ulster Bank current account No.2 | 0 | 0 | |||
| Ulster Bank current account No.3 | 29251 | 73506 | |||
| Ulster Bank current account No.4 - Bequests | 9952 | 9810 | |||
| Cash in hand - Organisations | 768 | 712 | |||
| Bank Current Accounts - Organisations | 57155 | 44610 | |||
| Total | 128047 | 167102 | |||
| Other Assets | |||||
| Fixed Assets - Note 8 | |||||
| Church / Halls / Manse | 518685 | 518685 | |||
| Fixtures and Fittings | 0 | 0 | |||
| Vehicles | 0 | 0 | |||
| Liabilities | |||||
| Ulster Bank Loan account | 0 | 0 | |||
| P M S Loan account | 0 | 0 | |||
| Net assets | 646732 | 685787 | |||
| Investments - Note 9 | 0 | 0 | |||
| Total assets | 646732 | 685787 | |||
| Approved by the Kirk Session at a meeting on | and signed on its behalf by | ||||
| Name | Name | ||||
| Date | Date |
Page -2-
Eglinton Presbyterian Church - a Congregation of The Presbyterian Church in Ireland
Notes to the accounts - 31 December 2024
1 Accounting Policies
Basis of Financial Statements
As the total income of the congregation is less than £250,000 the congregation have elected in accordance with the provisions in The Charities (Accounts and Reports Regulations) (Northern Ireland) 2015 to prepare its accounts on a receipts and payments basis.
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 (b) revenue donations or grants for a specific congregational activity intended by the donor. Where these funds have unspent balances, interest on their pooled investment is apportioned to the individual funds on an average balance basis.
Unrestricted funds are income funds which are to be spent on the congregation's general purposes. Designated funds are general funds set aside by the congregation for use in the future.
2 Donations and Legacies
| **Unrestricted ** | **Restricted ** | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2024 | 2023 | |
| £ | £ | £ | £ | £ | |
| Recorded Givings | 73155 | 23491 | 0 | 96646 | 91911 |
| Loose Collections | 1976 | 0 | 0 | 1976 | 1365 |
| Donations and Gifts | 1293 | 4175 | 0 | 5468 | 14089 |
| Gift Aid | 15240 | 5621 | 0 | 20861 | 17404 |
| Legacies and bequests | 0 | 0 | 0 | 0 | 3000 |
| 91664 | 33287 | 0 | 124951 | 127769 |
Page -3-
Eglinton Presbyterian Church - a Congregation of The Presbyterian Church in Ireland
Notes to the accounts (cont'd) - 31 December 2024
| 3 | Charitable Activities | |||||||
|---|---|---|---|---|---|---|---|---|
| **Unrestricted ** | **Restricted ** | Endowment | Total | Total | ||||
| Funds | Funds | Funds | 2024 | 2023 | ||||
| £ | £ | £ | £ | £ | ||||
| Christmas | Tree Festival | 0 | 0 | 0 | 0 | 5 | ||
| 0 | 0 | 0 | 0 | 5 | ||||
| 4 | Other Trading Activities | |||||||
| **Unrestricted ** | **Restricted ** | Endowment | Total | Total | ||||
| Funds | Funds | Funds | 2024 | 2023 | ||||
| £ | £ | £ | £ | £ | ||||
| Christmas | Fair | 0 | 2663 | 0 | 2663 | 1634 | ||
| 0 | 2663 | 0 | 2663 | 1634 | ||||
| 5 | Investment Income |
| **Unrestricted ** | **Restricted ** | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2024 | 2023 | |
| £ | £ | £ | £ | £ | |
| Deposit interest | 142 | 0 | 0 | 142 | 165 |
| General Investment Fund | 0 | 0 | 0 | 0 | 612 |
| Rents investment properties | 0 | 0 | 0 | 0 | 0 |
| Other investment income | 0 | 0 | 0 | 0 | 0 |
| 142 | 0 | 0 | 142 | 777 |
Page -4-
Eglinton Presbyterian Church - a Congregation of The Presbyterian Church in Ireland
Notes to the accounts (cont'd) - 31 December 2024
6 Other Income
| **Unrestricted ** | **Restricted ** | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2024 | 2023 | |
| £ | £ | £ | £ | £ | |
| Urban Mission Trust | 0 | 20000 | 0 | 20000 | 27000 |
| Presbyterian Herald | 20 | 0 | 0 | 20 | 20 |
| Insurance Claim | 0 | 5820 | 0 | 5820 | |
| Electric refund / Sound Equipment Refund | 50 | 0 | 0 | 50 | 334 |
| Pulpit fee refund | 83 | ||||
| Church Weekend | 1837 | 0 | 0 | 1837 | 1162 |
| 1990 | 25820 | 0 | 27810 | 28516 |
| 7 Raising Funds |
|||||
|---|---|---|---|---|---|
| **Unrestricted ** | **Restricted ** | Endowment | Total | Total | |
| Funds | Funds | Funds | 2024 | 2023 | |
| £ | £ | £ | £ | £ | |
| FWO envelopes | 640 | 0 | 0 | 640 | 738 |
| 640 | 0 | 0 | 640 | 738 | |
| 8 Charitable Activities |
|||||
| **Unrestricted ** | **Restricted ** | Endowment | Total | Total | |
| Funds | Funds | Funds | 2024 | 2023 | |
| £ | £ | £ | £ | £ | |
| General Assembly Assessments | 15772 | 0 | 0 | 15772 | 12871 |
| Presbytery fees | 835 | 0 | 0 | 835 | 654 |
| Ministry and support staff costs | 48543 | 0 | 0 | 48543 | 39419 |
| Congregational running expenses | 26362 | 82704 | 0 | 109066 | 38240 |
| Donations to Missions and Charities | 0 | 36631 | 0 | 36631 | 37019 |
| Governance Costs | 830 | 0 | 0 | 830 | 1153 |
| 92342 | 119335 | 0 | 211677 | 129356 |
Page -5-
Eglinton Presbyterian Church - a Congregation of The Presbyterian Church in Ireland
Notes to the accounts (cont'd) - 31 December 2024
9 Other Expenditure
| **Unrestricted ** | Restricted | Endownment | Total | Total |
|---|---|---|---|---|
| Funds | Funds | Funds | 2024 | 2023 |
| £ | £ | £ | £ | £ |
| 0 | 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | 0 |
10 Fixed Assets
The congregation owns the Church / Halls premises situated at Ballysillan Road, Belfast BT14 6RB, the Manse occupied by the Minister and his family situated at 39 Old Cavehill Road, Belfast, BT15 5FH and the associated fixtures, fittings, plant and machinery. These have a combined insurance value of £2,941,244 at last renewal date.
11 Investments
The congregation has the following investments. Amounts are shown at market valuation
| 2024 | 2023 | |||
|---|---|---|---|---|
| £ | £ | |||
| General Investment Fund | 0 | 0 |
Page -6-
Eglinton Presbyterian Church - a Congregation of The Presbyterian Church in Ireland
Notes to the accounts (cont'd) - 31 December 2024
| 12 | Fund Balances | Balance | Receipts | Payment | Surplus / | Surplus / | Transfers | Balance |
|---|---|---|---|---|---|---|---|---|
| at start | (Deficit) | at end | ||||||
| £ | £ | £ | £ | £ | £ | |||
| Unrestricted Funds | ||||||||
| General account | 28731 | 93654 | 92982 | 672 | -4905 | 24498 | ||
| Bequests account | 9810 | 142 | 0 | 142 | 0 | 9952 | ||
| 38541 | 93796 | 92982 | 814 | -4905 | 34450 | |||
| Restricted Funds | ||||||||
| Church / Halls / Manse | 518685 | 0 | 0 | 0 | 518685 | |||
| Manse Renovation Fund | 59343 | 55 | 69398 | -69343 | 10000 | 0 | ||
| Property Fund | 14164 | 26782 | 11635 | 15147 | -60 | 29251 | ||
| Evangelical Outreach | 5384 | 0 | 716 | -716 | 0 | 4668 | ||
| United Appeal | 1837 | 8605 | 10422 | -1817 | 0 | 20 | ||
| World Dev Fund | 1122 | 1284 | 2155 | -871 | 251 | |||
| Moderators Appeal | 0 | 0 | 0 | 0 | 0 | |||
| Pres.Childrens Society | 100 | 786 | 886 | -100 | 0 | |||
| Blue Houses - Youth for Christ | 0 | 20000 | 20000 | 0 | 0 | |||
| Catering Fund | 0 | 1170 | 870 | 300 | 300 | |||
| Christian Aid | 0 | 632 | 632 | 0 | 0 | |||
| British Legion | 0 | 201 | 201 | 0 | 0 | |||
| Flower Fund | 794 | 120 | 285 | -165 | 60 | 689 | ||
| Mothers & Toddlers | 495 | 0 | 0 | 0 | 495 | |||
| Students Bursary | 0 | 2135 | 2135 | 0 | 0 | 0 | ||
| Organisations | 45322 | 48251 | 30555 | 17696 | -5095 | 57923 | ||
| 647246 | 110021 | 149890 | -39869 | 4905 | 612282 | |||
| Total Funds | 685787 | 203817 | 242872 | -39055 | 0 | 646732 | ||
| Valuation | Revaluation | Valuation | ||||||
| at start | Decrease | at end | ||||||
| General Investment Fund | 0 | 0 | ||||||
| Total assets | 685787 | 646732 |
Agreed and Signed : Naomi Morrison / KathrynWonnacott 25/02/2025 (Eglinton Trustee - Finance ) Agreed and Signed: Roy Eakin 18/02/25 (Examiner)
Date:
Page -7-