WOODVALE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND Financial Statements for the year ended 31 December 2024 Reglstered Charlty in Northern Ireland (NIC104498)
INDEPENDENT EXAMINER'S REPORT We report on the financial statements of Woodvale Presbyterian Church for the year ¢nd¢d 31 Sl December 2024 which are set out on pages l 10 7. Respective responsibilities of trusteo and independent ex8miner: The Charity's trustees are responsible for the preparation of the financial statements. Th¢ trustees consider that an audit is not required for this year under section 62(2) of the Charities Act (Northern Ir¢land) 2008 and that an independ¢nt examination is needed. It is our responsibility to examine the financial sLqtements under section 65 of the Charities Act (Northern Ireland) 2008. to follow the procedures laid down in the general direction given by the Charity Commission for Northern Ireland undcr section 65(9)(b) of the Ch8ritt¢s Act (Northern Ireland) 2008. to state whethw particulars matters hav¢ come lo my attention. Ba818 of the Independent examiner's Statement Our examination was carried in accordance with the general directions given by the Charities Commission for Northern Ireland, An examination includes a review of the accounting records kept by the charity and a coinparison of the Financial Statements presented with those records. It also includes consideration of any unusual items or disclosures in the account8 and seekin8 explanations from you as tnistees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequently no opinion is given as to whether the financial statemenls present a "trne and fair" and the report is limited to tliose matters set out in the next statement. Independent examiner's statement In connection with our examination, no matter has come to our attention, l ) which giv¢s us reasonable cause to believe that in any material respect the requirements.. to kept accounting records in accordance with section 63 of the Charities Act . to prepare financial statements which accord with the accounting records and Comply with the accounting requircments of the Charities A¢t 2008. have not been met or 2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached Ian Murray For and on behalf of lan Murray & Co. Ltd, Chartered Certified Accountants 27 Joymount, Carri¢kfergu& BT38 7DN Dated: ¢h 19 Mareh 2025
WOODVALE CONGREGATION OFTHE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL AcfiviTY (ReIptS and Payments Account) for the year ended 31 December 2024 Note Unrestrfcted Funds Restrlcted Endowment Funds Funds Total 2024 Totsl 2023 Recelpts Donations and legacies Charltable attivities Other trading attivitles Investment Income Other Organisations 47,346 2,855 50,201 70,835 1,962 338 338 1,756 1,230 9,000 6,638 6,638 Sale of Investments Sale of fixed assets Loans Received 86,017 Total Recelpts 47,684 9,493 57,177 170,800 Payments Raising funds Charitable activities Investment costs Other Organisations 247 124,548 62,743 7,433 70,176 5,318 5,318 5,508 62,743 12,751 75,494 130,303 Purchase of Investments Purchase of fixed assets Loan Repayments Total Payments 62,743 12,751 75,494 130,303 Net recelpts / (payments) Transfers between funds {15,059) (4,085) (3,258) 4,085 (18,317) 40,497 Net movernent in funds Funds brought forward (19,144) 117,997 827 30,398 (18,317) 148,395 40,497 107,898 Funds carried forward 12 98,853 31,225 130,078 148,395
WOODVALE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF ASSEfs AND LIA81LITIES As at 31 December 2024 Unrestrlcted Funds Restrlcted Funds Endowment Funds Total Funds 2024 Total Funds 2023 Funds Reconclllatlon Bank and Cash at start of year Net movement in funds 117,997 {19,144) 30,398 827 148,395 <18,317) 107,898 40,497 Bank and Cash at end of year 98,853 31,225 130,078 148,395 Bank & Cash Balances Bank Deposit Accounts Bank Current Accounts Cash in Hand Bank Current A/C5 - Organisations Cash in Hand - Organisations 114,187 142 15,749 133,889 77 14,429 130,078 148,395 Other Assets Fixed Assets - Note 10 Church Premises Fixtures, Fittings & Equipment Vehicles Investments- Note 11 Gift Aid receivable on donations 6,687,331 6,386,887 6,687,331 6,386,887 Llabllities Loans Other Approved by the Kirk Session at a rneeting on 20 March 202 and signed on its behalf by Paul Beggs Clerk of Session 20 March 2025 lan Camp Treasurer 20 March 2025
WOODVALE CONGREGATION OFTHE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2024 ACCOUNTING POLICIES BASIS OF FINANCIAL sfATEMENTS As the total Income of the congregation is less than £250,000 the congregation have eletted In accordance with the provislons in The Charities {Accounts and Reports Regulations (Northern Ireland) 2015 to prepare its accounts on a receipts and payments basls. FUNDACCOUNTING Endowment funds are funds, the capltal of which must be retained either permanently or at the congregation's dlscretion; the income derlved from the endowment is to be used either as restritted or unrestritted income funds dependlng upon the purpose for which the endowment was established in the first place. Restricted fvnds comprise (a) income from endowments which is to be expended only on the restritted purposes Intended by the donor and (bl revenue donations or grants for a speclflc congregational attivity intended by the donor. Where these funds have unspent balances, interest on their pooled investment is apportioned to the individual funds on an average balance basis. Unrestritted funds are income fund5 which are to be spent on the congregation's general purposes. Designated funds are general funds set aslde by the congregation for use in the future. DONATIONS AND LEGACIE5 Unrestrltted Funds Restrlrted Endowment Funds Funds Total 2024 Total 2023 Recorded giving Loose collettions Donations and gifts Gift Aid Legacies and bequest 38,246 1,783 1,616 5,701 2,131 40,377 1,783 1,616 6,425 53,292 821 3,496 13,226 724 47,346 2,855 50,201 70,835
WOODVALE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTESTO THE ACCOUNTS 31 December 2024 CHARITABLE ACTivrriES Unrestrlcted Funds Restrlcted Endowment Funds Funds Total 2024 Total 2023 Income from charitable activities Fees from weddings and funerals Fundraislng events 1,962 1,962 4. OTHER TRADING AcfiviTIES Unrestrlcted Funds Restrlcted Endowment Funds Funds Total 2024 Total 2023 Letting of premlses Tradin8 income 5. INVESTMENT INCOME Unrestricted Funds Restrlcted Endowment Funds Funds Total 2024 Total 2023 Deposlt Interest General Investment Fund Rents investment properties Other investment income 338 338 1,756 338 338 1,756
WOODVALE CONGREGATION OFTHE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (convd) 31 December 2024 OTHER INCOME Unrestricted Funds Restrlcted Endowment Funds Funds Totsl 2024 Total 2023 Insurance claims Other income 1,230 RAISING FUNDS Unrestricted Funds Restrlcted Endowment Funds Funds Total 2024 Total 2023 FWO envelopes Fundraising events 390 390 CHARITABLE AcfiviTIES Unrestrlcted Funds Restricted Endowment Funds Funds Total 2024 Totsl 2023 General Assembly Assessments Presbytery fees Ministry and support staff costs Congregational running expenses Donations to missions & charities Governance costs 8,578 835 28,098 24,552 8,578 835 28,098 26,735 5,250 680 15,630 654 65,772 33,692 8,150 650 2,183 5,250 680 62,743 7,433 70,176 124,548
WOODVALE CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTESTO THE ACCOUNTS (convd) 31 December 2024 OTHER EXPENDITURE Unrestrlrted Funds Restrltted Endowment Funds Funds Total 2024 Total 2023 Investment properties expenses 10. FIXED ASSErs The congregation owns the Church premises situated at 64A Woodvale Road, Belfast BT13 38T. The congregation owns the manse situated at 76 Woodvale Road BT13 3BU These have an insurance value (includin8 fixtures and fittings) of £6,687,331.14 at the last renewal date. 11. INVESTMENTS The congregation has the following investments. Amounts are shown at market valuation. 2024 2023 General Investment Fund Property Other investments
WOODVALE CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (convd) 31 December 2024 12. FUND BALANCES Fund Balance at Receipts Payments Surplus/ Transfer start (Deficit) Balance at end Unrestrlcted Funds General Fund 117,997 47,684 62,743 (15,059) (4,085) 98,853 117,997 47,684 62,743 (15,059) (4,085) 98,853 Restrlcted Funds Maintenance Fund United Appeal World Development Appeal Emergency Appeals Galway Familv Kerr T Or8anlsatlons 9,552 1,690 1,165 2,183 5,250 (493) (4,085) 9,059 4,085 190 1,000 2,913 2,314 14,429 190 1,000 2,913 2,314 15,749 6,638 5,318 1,320 TOTAL FUNDS 30,398 9,493 12,751 (3,258) 4,085 31,225 Endowment Funds TOTAL FUNDS 148,395 57,177 75,494 {18,317) 130,078 Valuatlon at start Revaluotlo n Increage Valuatlon at end General Investment Fund