RATHCOOLE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND
Financial Statement for the year ended 31 December 2024
Registered Charity in Northern Ireland (NIC 104481)
Rathcoole 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 | Total | ||
|---|---|---|---|---|---|---|
| Notes | Funds | Funds | Funds | 2024 | 2023 | |
| £ | £ | £ | £ | £ | ||
| Receipts | ||||||
| Donations and legacies | 2 | £39,848 | £10,643 | £0 | £50,491 | £57,195 |
| Charitable activities | 3 | £287 | £0 | £0 | £287 | £0 |
| Other trading activities | 4 | £11,282 | £0 | £0 | £11,282 | £11,600 |
| Investment Income | 5 | £0 | £78 | £0 | £78 | £69 |
| Other | 6 | £715 | £0 | £0 | £715 | £0 |
| Organisations | £0 | £3,302 | £0 | £3,302 | £3,111 | |
| Sale of Investments | £0 | £0 | £0 | £0 | £0 | |
| Sale of fixed assets | £0 | £0 | £0 | £0 | £0 | |
| Loans Received | £0 | £0 | £0 | £0 | £0 | |
| Total Receipts | £52,132 | £14,023 | £0 | £66,155 | £71,975 | |
| Payments | ||||||
| Raising funds | 7 | £461 | £0 | £0 | £461 | £320 |
| Charitable activities | 8 | £43,124 | £7,492 | £0 | £50,616 | £42,750 |
| Other trading activities | 9 | £0 | £0 | £0 | £0 | £335 |
| Investment costs | 11 | £0 | £0 | £0 | £0 | £0 |
| Organisations | £0 | £2,124 | £0 | £2,124 | £2,264 | |
| Purchase of Investments | £0 | £0 | £0 | £0 | £0 | |
| Purchase of fixed assets | £0 | £0 | £0 | £0 | £0 | |
| Loan Repayments | £0 | £0 | £0 | £0 | £0 | |
| Total Payments | £43,585 | £9,616 | £0 | £53,201 | £45,669 | |
| Net receipts / (payments) | £8,547 | £4,407 | £0 | £12,954 | £26,306 | |
| Transfers between funds | £800 | -£800 | £0 | £0 | £0 | |
| Net movement in funds | £9,347 | £3,607 | £0 | £12,954 | £26,306 | |
| Funds brought forward | £64,474 | £29,147 | £0 | £93,621 | £67,315 | |
| Funds carried forward | 12 | £73,821 | £32,754 | £0 | £106,575 | £93,621 |
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Rathcoole 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 | Total | ||
|---|---|---|---|---|---|---|
| Funds | Funds | Funds | 2024 | 2023 | ||
| £ | £ | £ | £ | |||
| Funds Reconciliation | ||||||
| Bank and Cash at start of year | £64,474 | £29,147 | £0 | £93,621 | £67,315 | |
| Net movement in funds | £9,347 | £3,607 | £0 | £12,954 | £26,306 | |
| Bank and Cash at end of year | £73,821 | £32,754 | £0 | £106,575 | £93,621 | |
| Bank & Cash Balances | ||||||
| Bank Account: General | £74,041 | £64,474 | ||||
| Bank Account: Renovation | £17,263 | £14,783 | ||||
| Bank Account: Maintenance | £5,189 | £4,513 | ||||
| Bank Account: United Appeal | £0 | -£11 | ||||
| Bank Account: Outreach Mission | £5,077 | £5,135 | ||||
| Cash in hand - Organisations: Bowling Club | £320 | £0 | ||||
| Bank Current Accounts - Organisations: Bowling Club | £918 | £1,164 | ||||
| Bank Current Accounts - Organisations: Girls Brigade | £3,692 | £3,488 | ||||
| Cash in hand - Organisations: Womens Fellowship | £75 | £75 | ||||
| Total | £106,575 | £93,621 | ||||
| Other Assets | ||||||
| Fixed Assets - Note 10 | ||||||
| Church Premises | £0 | £0 | ||||
| Fixtures and Fittings | £0 | £0 | ||||
| Vehicles | £0 | £0 | ||||
| Investments - Note 11 | £0 | £0 | ||||
| Gift Aid receivable on donations | £7,542 | £9,785 | ||||
| Other assets | £0 | £0 | ||||
| Liabilities | ||||||
| Loans | £0 | £0 | ||||
| Other liabilities | £0 | £0 | ||||
| Approved by the Kirk Session at | a meeting on | |||||
| and signed on its behalf | by…. | |||||
| Name | David McCormick | Name | Norman Creaney | |||
| Date: 27th | September 2025 | Date: | 27th September 2025 | |||
| Page -2- |
Rathcoole 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
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 | £31,640 | £8,846 | £0 | £40,486 | £44,434 |
| Loose collections | £1,925 | £0 | £0 | £1,925 | £2,192 |
| Donations and gifts | £0 | £318 | £0 | £318 | £783 |
| Gift Aid | £6,283 | £1,259 | £0 | £7,542 | £9,786 |
| Belfast City Mission | £0 | £220 | £0 | £0 | £0 |
| £39,848 | £10,643 | £0 | £50,491 | £57,195 |
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Rathcoole 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
3 Charitable Activities
| **Unrestricted ** | **Restricted ** | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2024 | 2023 | |
| £ | £ | £ | £ | £ | |
| Salvation Army | £287 | £0 | £0 | £287 | £0 |
| Fees from weddings and funerals | £0 | £0 | £0 | £0 | £0 |
| Fundraising events | £0 | £0 | £0 | £0 | £0 |
| £287 | £0 | £0 | £287 | £0 |
| 4 | Other Trading Activities | |||||
|---|---|---|---|---|---|---|
| **Unrestricted ** | **Restricted ** | Endowment | Total | Total | ||
| Funds | Funds | Funds | 2024 | 2023 | ||
| £ | £ | £ | £ | £ | ||
| Income: | NIE Refund | £0 | £0 | £0 | £0 | £0 |
| Manse: Rent Income | £11,282 | £0 | £0 | £11,282 | £10,920 | |
| Written | 'off' cheque | £0 | £0 | £0 | £0 | £680 |
| £11,282 | £0 | £0 | £11,282 | £11,600 |
| 5 Investment Income |
|||||
|---|---|---|---|---|---|
| **Unrestricted ** | **Restricted ** | Endowment | Total | Total | |
| Funds | Funds | Funds | 2024 | 2023 | |
| £ | £ | £ | £ | £ | |
| Bank Interest: U.A./Maintenance | £0 | £78 | £0 | £78 | £69 |
| General Investment Fund | £0 | £0 | £0 | £0 | £0 |
| Rents investment properties | £0 | £0 | £0 | £0 | £0 |
| Other investment income | £0 | £0 | £0 | £0 | £0 |
| £0 | £78 | £0 | £78 | £69 |
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Rathcoole 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
6 Other Income
| Unrestricted | Restricted | Endowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2024 | 2023 | |
| £ | £ | £ | £ | £ | |
| Insurance claims | £0 | £0 | £0 | £0 | £0 |
| Donations for Heat & Light | £715 | £0 | £0 | £715 | £0 |
| £715 | £0 | £0 | £715 | £0 | |
| 7 Raising Funds |
|||||
| Unrestricted | Restricted | Endowment | Total | Total | |
| Funds | Funds | Funds | 2024 | 2023 | |
| £ | £ | £ | £ | £ | |
| FWO/Mission Envelopes | £461 | £0 | £0 | £461 | £320 |
| Fundraising events | £0 | £0 | £0 | £0 | £0 |
| £461 | £0 | £0 | £461 | £320 | |
| 8 Charitable Activities |
|||||
| Unrestricted | Restricted | Endowment | Total | Total | |
| Funds | Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| General Assembly Assessments | £4,746 | £0 | £0 | £4,746 | £4,604 |
| Presbytery fees | £708 | £0 | £0 | £708 | £561 |
| Ministry and support staff costs | £23,417 | £0 | £0 | £23,417 | £15,796 |
| Congregational running expenses | £13,004 | £0 | £0 | £13,004 | £10,313 |
| Renv/Maintenance Fund | £0 | £1,529 | £0 | £1,529 | £4,041 |
| United Appeal | £0 | £4,887 | £0 | £4,887 | £4,530 |
| Outreach Mission & Other Charities | £0 | £1,076 | £0 | £1,076 | £2,279 |
| Goverance/Solicitors Costs | £1,249 | £0 | £0 | £1,249 | £250 |
| Bank Charges:Renv/Main/U.A./O.M. | £0 | £0 | £0 | £0 | £376 |
| £43,124 | £7,492 | £0 | £50,616 | £42,750 |
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Rathcoole 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
9 Other Expenditure
| UnrestrictedRestrictedEndowment | UnrestrictedRestrictedEndowment | UnrestrictedRestrictedEndowment | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2024 | 2023 | |
| £ | £ | £ | £ | £ | |
| Other Expenditure: Gift | £0 | £0 | £0 | £0 | £335 |
| £0 | £0 | £0 | £0 | £335 |
10 Fixed Assets
The congregation owns The Church premises situated at Rathmore Drive, Rathcoole, Newtownabbey BT37 9DP, and the manse situated at 9 Ballycraigy Rd, Newtownabbey, Co Antrim ,BT36 5ZZ together with associated fixtures / fittings and equipment for the use of the minister.
These have a combined insurance value of £3,367,990 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 |
| Property | 0 | 0 |
| Other investments | 0 | 0 |
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Rathcoole 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
| 12 | Fund Balances | |||||||
|---|---|---|---|---|---|---|---|---|
| Balance | Receipts | Payment | Surplus / | Transfers | Balance | |||
| at start | (Deficit) | at end | ||||||
| £ | £ | £ | £ | £ | £ | |||
| Unrestricted Funds | ||||||||
| General Fund | £64,474 | £52,132 | £43,585 | £8,547 | £800 | £73,821 | ||
| TOTAL... | £64,474 | £52,132 | £43,585 | £8,547 | £800 | £73,821 | ||
| Restricted Funds | ||||||||
| Renovation Funds | £14,783 | £2,536 | £56 | £2,480 | £0 | £17,263 | ||
| Property/Maintenance Funds | £4,513 | £2,149 | £1,473 | £676 | £0 | £5,189 | ||
| Missions and Charities Fund | ||||||||
| United Appeal | -£11 | £4,798 | £4,887 | -£89 | £100 | £0 | ||
| Outreach Mission Fund | £5,135 | £1,018 | £53 | £965 | -£1,023 | £5,077 | ||
| Belfast City Mission | £0 | £220 | £400 | -£180 | £400 | £220 | ||
| : | Holiday Bible Club | £0 | £0 | £138 | -£138 | £138 | £0 | |
| Majed Tiawani | £0 | £0 | £485 | -£485 | £485 | £0 | ||
| Organisations | ||||||||
| Presbyterian Womens | £75 | £0 | £0 | £0 | £0 | £75 | ||
| Girls Brigade | £3,488 | £2,719 | £1,915 | £804 | -£600 | £3,692 | ||
| Bowling Club | £1,164 | £583 | £209 | £0 | -£300 | £1,238 | ||
| Craft Class | £0 | £0 | £0 | £0 | £0 | £0 | ||
| TOTAL... | £29,147 | £14,023 | £9,616 | £4,407 | -£800 | £32,754 | ||
| Endowment Funds | £0 | £0 | £0 | £0 | £0 | £0 | ||
| Total Funds | £93,621 | £66,155 | £53,201 | £12,954 | £0 | £106,575 | ||
| Valuation | Revaluation | Valuation | ||||||
| at start | Increase | at end | ||||||
| General Investment Fund | 0 | 0 | 0 |
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