DUNDONALD PRESBYTERIAN CHURCH A Congregation of the Presbyterian Church in Ireland STATEMENT OF FINANCIAL ACTIVITY FOR YEAR ENDED 31 DECEMBER 2024 Total Fund5 2024 Total Fund5 2023 Notes Unrestricted Funds Restricted Funds Income from . Donations Charitable activities Building Fund Other Income 69,898 69.898 250,648 48,629 3,802 82,873 335,448 63,141 250,648 48,629 3,802 Total 250,648 122,329 372,977 481,462 Expenditure on Charitable activities Interest on loans 223,178 149,051 372,229 323,065 Total 223,178 149,051 372,229 325,065 5urplus/Deficit 27,470 126,7221 748 158,397 Net gain on investments 291 291 46 Net Income / (expenditure) 27,761 126,7221 1,039 158,443 Transfers between fund5 Net movement in funds Reconcil iation of funds: Total funds brought forward 420,849 1,921,773 2,342,622 2,184,179 Total funds carried forward 448,610 1,895,051 2,343,661 2,342.622 io
DUNDONALD PRESBYTERIAN CHURCH A Congregation of the Presbyterlan Church in Ireland BALANCE SHEET As at 31st December 2024 Total Funds Total Funds 2024 2023 Notes Unrestricted Restricted Funds Funds Fixed assets Tangible assets Investments Total fixed assets 1,678,569 1,678,569 2,442 1,681,011 1,717,469 2,151 1,719,620 2,442 2,442 1,678,569 Current assets Debtors 26,031 12,612 38,643 102,770 Cash at Bank and in hand 422,297 205,870 628,167 524,272 Total current assets 448,328 218,482 666,810 627,042 Liabllitles Creditors.. Amounts falling due within one year 12,1601 12,0001 14, 1601 14,0401 Net current assets or Ilabilities 446,168 -216,482 662,650 623,002 Total assets less current Ilabilitles 448,610 1,895,051 2,343,661 2,342,622 Credltors.. amounts falling due after more than one year Total net assets or liablllties 448,610 1,895,051 2,343,661 2.342,622 Fund5 of the Charlty Restricted Funds Tangible Fixed a55ets Unrestricted Funds 216,482 1,678,569 216,482 1,678,569 448,610 204,304 1,717,469 420,849 448,610 448,610 1,895,051 Approved by Kirk Se55ion at a meeting on 17 June 2025 and signed on its behalf by.. 2,343,661 2.342,622 Chris Te Trustee William Mccu Trustee li
DUNDONALD PRESBYTERIAN CHURCH A congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS 31 December 2024 I. ACCOUNTING POLICIES BASIS OF FINANCIAL STATEMENTS The financial statements have been prepared In accordance wlth Accounting and Reporting bv Charities: Statement of Recommended Practice applicable to charitiés preparing their account5 in accordance with Fi nancial Reporting Standard applicable in the U K and Ireland {FRS1021 leffective I January 20151. The financial statements have been prepared under the historical cost convention except for investment assets, which are shown at market value. The financial statements include all transactions, assets and liabilities for which the congregation is responsible in law. They do not include the accounts of church groups that owe their affiliation to another body, nor those that are informal gatherings of church members. FUND ACCOUNTING Endowment funds are funds, the capital of which must be retained either permanently or at the congregation's discretion,. the income derived from the endowment IS to be used either as restricted or unrestricted income funds depending upon the purpose for which the endowment was established in the first place. Restricted funds comprise (al income from endowments which is to be expended only on the restricted purposes intended by the donor and Ibl 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. 12
DUNDONALD PRESBYTERIAN CHURCH A congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS 31 December 2024 I. ACCOUNTING POLICIES Icont'd) INCOMING RESOURCES (i) Recognition of incoming resources These are included in the Statement of Financial Activities {SoFAI when,. the congregation becomes entitled to the resources; the trustees are vi rtually certain they will receive the resources; and the monetary value ca n be measured with sufficient rel iably. (li) Incoming resources wlth related expenditure Where incoming resou rces have related expenditure las with fundraisi ng income} the incoming resources and related expenditure are reported gross in the SOFA. liiil Grants and donations Grants and donations are only included in the SOFA when the congregation has unconditional entitlement to the reso u rces. (iv) Tax reclaims on donations and glfts Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate. {v) Contractual income and performance related grants This is only included in the SOFA oncethe related goods or services have been delivered. (vi) Gifts in kind Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gift5 in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable. 13
DUNDONALD PRESBYfERIAN CHURCH A congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS 31 December 2024 I. ACCOUNTING POLICIES (cont'd) (viil Donated services and facilities These are only included in incoming resources (with an equlvalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources 15 the estimated value to the charity of the service or facility received. Iviii) Volunteer help The value of any voluntary help received is not included in the accounts but is described in the trustees, annual report. (ix) Investment income This is included in the accounts when receivable. {x) Investment gains and losses This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. EXPENDITURE AND LIABILITIES (xi) Liability recognition Liabilities are recognised as soon as there is a legal or constructive obligation committing the congregation to pay out resources. (xii) Governance costs These are shown within charitable activities and include the costs of preparation and examination of accounts. the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters. (xiii) Grants with performance conditlons Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output. 14
DUNDONALD PRESBYTERIAN CHURCH A congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS 31 December 2024 I. ACCOUNTING POLICIES (cont'd) {xiv) Grants payable without performance conditions These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity. ASSETS (xv) Tangible Fixed Assets Tangible fixed asset5 for use by charity are capitalised if they can be used for more than one year, and cost at least £2,500. They a re va lued at C05t or, if gifted, at the value to the cha rity on receipt. Depreciation is recorded on all ta ngible fixed assets other than freehold land, at rates calculated to write of the cast, less esti mated residual value, of each asset over its expected usef ul life as follows Buildings.. over 50 years {xvi) Investments Investments quoted on a recognised stock exchange are valued at m3rket value atthe year end. Other investment assets are i ncluded at trustees, best estimate of market value. 15
DUNDONALD PRESBYTERIAN CHURCH A Congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS 31st December 2024 2. INCOME Total Funds 2024 Total Funds 2023 Unrestricted Funds Restricted Fund5 Weekly freewill offering Loose collections Gift Aid Miscellaneous income Building fund 183,495 2,983 47,961 120 183,495 2,983 65,626 875 48,629 186,725 3,414 60,710 923 63,141 17,665 755 48,629 Mission support Remembrance Day donations Donations for PCI funds Donations for Heat & Light Bank interest Property Rents NIE Wayleave Insurance claim (storm) Legacies {unallocl nclusion of Mission account 35,188 326 15,964 35,188 326 27,038 loo 15,027 3,590 3,903 7,340 li 15,964 3,400 5,897 6,780 12 3,400 5,897 6,780 12 3,802 3,802 94,763 14,777 250,648 122,329 372,977 481,462 16
DUNDONALD PRESBYTERIAN CHURCH A Congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS 31st December 2024 3. EXPENDITURE ON CHARITABLE ACTIVITIES Total Funds 2024 Total Funds 2023 Unrestricted Funds Restricted Funds PCI Assessments Ministry and support staff costs Congregational running expenses Building Fund expenditure Donations to Missions & Charities Independent examination fee Depreciation 17.048 134,938 69,032 17.048 134,938 69,032 52,720 57,431 2,160 38,900 18,742 118,257 74,628 19,374 51,124 2,040 38,900 52.720 57,431 2,160 38,900 223,178 149,051 372,229 323,06S 4. TANGIBLE FIXED ASSETS Cost or valuation At start of year Additions 1,945,194 1,945,194 At end ofyear 1,945,194 1,945,194 Depreciation At start ofyear Provision for year 227,725 38,900 227,725 38.900 At end of year 266,625 266,625 Net Book Value At end of year 1,678,569 1,678,569 At start of year 1,717,469 1,717,469 17
DUNDONALD PRESBERIAN CHURCH A Congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS 31" December 2024 5. DEBTORS 2024 2023 Gift Aid recoverable Legacy 38,643 18,007 84,763 38,643 102,770 6. CASH AT BANK Ulster Bank Number l Account Ulster Bank standing order account Ulster Bank Number 2 Account 403,638 222,801 1,728 320,380 199,643 4,249 628,167 524,272 7. CREDITORS: FALLING DUE WITHIN ONE YEAR Accruals Other creditors Interest free loans f rom congregation 2,160 2,040 2,000 2,000 4,160 4,040 8. CREDITORS: FALLING DUE AFTER ONE YEAR 2024 2023 18
DUNDONALD PRESBYTERIAN CHURCH A Congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS 31. December 2024 9. RECONCILIATION OF FUNDS Balance at start Income Expend. Transfer Balance at end Unrestricted Funds General Fund 420,849 250,939 1223,1781 448,610 420,849 250,939 1223, 1781 448,610 Restrlcted Funds Fixed asset fund Other restricted f unds 1,717,469 204,304 {38,9001 1110,1511 1,678,569 216,482 122,329 1,921,773 122,329 1149,0511 1,895,05L Total Funds 2,342,622 373,268 (372,229) 2,343,661 10. STAFF COSTS The total staff costs and employee benefits for the reporting period are analysed as follows: 2024 2023 Wages and salaries Social security costs Employer contributions to pension plans Pension contribution by congregation Other employee benefits 101,365 7,962 687 12,496 12,574 92,049 6,581 776 11,902 6,701 135,084 118,009 The average head count of employees during the year was 4 {2023.. 41. No employee received employee benefits of more than £60,000 duringthe year12023'. Nill. 19
DUNDONALD PRESBYTERIAN CHURCH A Congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS 31" December 2024 11. PENSION COSTS The minister of the congregation is a member of the Presbyterian Church in Ireland Pension Scheme 120091. 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 Scheme120091 is a funded Scheme of the def ined benefit type, providing defined benef its based on career average revalued salary. The Scheme has asset5 held in a separately administered fund managed by a board of trustees. The Presbyterian Church and the Scheme Trustees have agreed a funding plan to ensure the Scheme is sufficiently funded to meet current and future obligations. A formal schedule of contributions was drawn up on 25 November 2015 whereby the Presbyterian Church agreed to pay from 31 December 2015 contributions of 24°A of pensionable salaries to cover the accru31 of benefits for future service, expenses, the cost of insuring death in service benefits and funding the scheme def icit. The contributions made by the congregation during the year were 2024 2023 12,496 11,902 The congregation operates a defined pension contribution policy for other employees. The scheme and its assets are held by an independent scheme manager, in thi5 case NEST. The pension charge represents the contributions paid by the congregation during the year. 2024 2023 Contrlbutions 687 1,198 20
DUNDONALD PRESBYTERIAN CHURCH A Congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS 31" December 2024 12. RELATED PARTY TRANSACTIONS The mlnister of the congregation, who is also a trustee, received remuneration of £52,068 and expenses amounting to £7,439 Including Car Allowance of £4,221 and Duties Allowance of £2,815 for acting in that capacity. Car and Duties Allowances are paid direct by PCI and reimbursed through Assembly Assessments. Mileage expenses of E153.18 and a contribution to Telephone expenses of £250.00 are paid directly. Pension contributions of £12,496 were paid by the congregation in respect of the minister to the Presbyterian Church in Ireland Pension Scheme120091. One other trustee is an employee of the church. He received remuneration of £29,269, pension contributions of £687 to a NEST scheme and training course costs of £3150. One other trustee received a management fee of £300 in respect of the rental of a property owned by the congregation. None of the other trustees received any remuneration or expenses in connection with their duties. Duringthe yearthe congregation contributed the following amounts to Funds of the General Assemblv of the Presbyterian Church i n Ireland, a separate charitv. £15,057 towards the Unlted Appeal. £1,728 towards the World Development Appeal. The congregation contributed £1,093 towards Presbytery Assessments during the year, There were no other related party transactions. 21