MERSEY STREET PRESBYTERIAN CHURCH A congregation of the Presbyterian Church in Ireland TRUSTEES ANNUAL REPORT
Mersey Street Presbyterian Church - a congregation of the Presbyterian Church in Ireland
Statement of Financial Activity for the year ended 31 December 2024
Mersey Street Presbyterian Church 67-69 Mersey Street Belfast BT4 1EX
Registered with the Charity Commission for Northern Ireland NIC 104507
MERSEY STREET PRESBYTERIAN CHURCH A congregation of the Presbyterian Church in Ireland
TRUSTEES ANNUAL REPORT
STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the year ended 31 December 2024
| Receipts | Receipts | Notes | Unrestricted | Restricted | 2024 | 2023 | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| Regular Direct Giving | 1 | 55437 | 7315 | 62752 | 51732 | |||||
| HMRC Gift Aid | 1 | 8142 | 658 | 8800 | 7448 | |||||
| Donations and Legacies | 2 | 550 | 5500 | 6050 | 26574 | |||||
| Activities that generate income |
3 | 0 | 0 | 0 | 0 | |||||
| Investment Income | 4 | 0 | 805 | 805 | 634 | |||||
| Other income sources | 5 | 174 | 5174 | 5348 | 5273 | |||||
| Total Receipts | 64303 | 19452 | 83755 | 91661 | ||||||
| Payments | ||||||||||
| General Account payments | ||||||||||
| Central Church Assessments |
6 | 10575 | 503 | 11078 | 10875 | |||||
| Ministryand Support staff | 7 | 39007 | 0 | 39007 | 38867 | |||||
| Buildings Account payments | ||||||||||
| Capital Works | 8 | 0 | 0 | 0 | 0 | |||||
| Repairs and Maintenance | 9 | 0 | 26826 | 26826 | 3708 | |||||
| General RunningCosts | 10 | 0 | 13537 | 13537 | 10971 | |||||
| External Missionary Allocations |
||||||||||
| Individual Missionary Support |
11 | 0 | 2560 | 2560 | 2050 | |||||
| United Appeal | 12 | 0 | 3497 | 3497 | 4829 | |||||
| Mission Fund Allocations for young peoples work |
||||||||||
| variousgrants | 14 | 0 | 1432 | 1432 | 0 | |||||
| Total Payments | 49582 | 48355 | 97937 | 71301 | ||||||
| Excess of receipts over payments |
-14181 | 20360 |
MERSEY STREET PRESBYTERIAN CHURCH A congregation of the Presbyterian Church in Ireland TRUSTEES ANNUAL REPORT
Notes to the Accounts
31/12/2024
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.
MERSEY STREET PRESBYTERIAN CHURCH A congregation of the Presbyterian Church in Ireland TRUSTEES ANNUAL REPORT
2. DONATIONS AND LEGACIES
| 1. Regular Direct Giving | 2024 | 2023 | |||
|---|---|---|---|---|---|
| Unrestricted | |||||
| Recorded Giving: FWO | 53152 | 45049 | |||
| Loose Collections | 2285 | 2505 | |||
| Gift Aid received | 8142 | 6578 | |||
| Restricted | |||||
| Receipts from Buildings envelopes |
5305 | 2083 | |||
| Gift Aid for Buildings | 331 | 454 | |||
| Harvest giving for United Appeal |
2010 | 2095 | |||
| Gift Aid for Harvest | 327 | 416 | |||
| Total | 71552 | 59180 | |||
| 2. Donations and Legacies |
2024 | 2023 | |||
| Unrestricted | |||||
| Organisation Donations | 200 | 200 | |||
| Individual one-offgifts | 350 | 1600 | |||
| Bequests | 23459 | ||||
| Restricted | |||||
| Grant from East Belfast Presbytery |
0 | 0 | |||
| Other donations | 5500 | 1315 | |||
| Total | 6050 | 26574 | |||
| 3. Activities that generate income |
2024 | 2023 | |||
| Unrestricted | |||||
| Church Magazines | 0 | 0 | |||
| Total | 0 | 0 | |||
| 4. Investment Income | 2024 | 2023 | |||
| Restricted | |||||
| General Investment Fund | 805 | 634 | |||
| Total | 805 | 634 |
MERSEY STREET PRESBYTERIAN CHURCH A congregation of the Presbyterian Church in Ireland
TRUSTEES ANNUAL REPORT
| 5. Other income sources |
2024 | 2023 | |||
|---|---|---|---|---|---|
| Unrestricted | |||||
| Miscellaneous | 0 | 0 | |||
| Bank Interest | 174 | 114 | |||
| Restricted | |||||
| Midweek | 411 | 166 | |||
| SundaySchool | 221 | 520 | |||
| Church based organisations | 3163 | 2376 | |||
| Miscellaneous | 1379 | 2096 | |||
| Total | 5348 | 5273 | |||
| Total Income | 83755 | 91661 |
| 6. Central Church Assessments | 6. Central Church Assessments | 6. Central Church Assessments | 2024 | 2023 | ||
|---|---|---|---|---|---|---|
| Central MinistryFund | 1598 | 1529 | ||||
| Comms Dept | 447 | 0 | ||||
| Retired Ministers Fund | 0 | 0 | ||||
| Widows of Ministers Fund | 287 | 313 | ||||
| Prolonged DisabilityFund | 224 | 313 | ||||
| Incidental Fund | 1150 | 1251 | ||||
| Ministerial Development Fund | 32 | 139 | ||||
| Church House External Repairs | 575 | 695 | ||||
| Sick SupplyFund | 6 | 14 | ||||
| Student BursaryFund | 511 | 556 | ||||
| PCI Pension Scheme | 5745 | 5472 | ||||
| PresbyteryFees | 503 | 479 | ||||
| Total | 11078 | 10875 | ||||
| 7. Ministryand Support staff | 2024 | 2023 | ||||
| Minister's stipend | 23939 | 22799 | ||||
| Minister's expenses | 7036 | 7162 | ||||
| National Insurance | 3018 | 2860 | ||||
| AncillaryStaff | 4894 | 6046 | ||||
| AppenticeshipLevy | 120 | 114 | ||||
| Total | 39007 | 38867 | ||||
MERSEY STREET PRESBYTERIAN CHURCH A congregation of the Presbyterian Church in Ireland
TRUSTEES ANNUAL REPORT
| TRUSTEES ANNUAL REPORT | TRUSTEES ANNUAL REPORT | ||||
|---|---|---|---|---|---|
| 8. Capital works | 2024 | 2023 | |||
| new buildings/reconstruction | 0 | 0 | |||
| 9. Repairs and Maintenance | 2024 | 2023 | |||
| Manse repairs | 1948 | 1848 | |||
| Fire and security | 2158 | 1063 | |||
| Heatingrepairs | 2465 | 180 | |||
| Roof repairs | 830 | 0 | |||
| Electrical repairs | 1385 | 0 | |||
| Miscellaneous | 540 | 617 | |||
| New windows | 17500 | 0 | |||
| Total | 26826 | 3708 | |||
| 10. General RunningCosts | 2024 | 2023 | |||
| Utilities | 4417 | 3965 | |||
| Insurance/Ground Rent | 1810 | 1700 | |||
| Rates | 1572 | 1502 | |||
| Magazines | 0 | 36 | |||
| SundaySchool/Creche | 186 | 447 | |||
| Stationary | 696 | 15 | |||
| Bank Charges | 169 | 167 | |||
| Catering | 101 | 80 | |||
| Music copyright | 170 | 284 | |||
| Miscellaneous | 1122 | 324 | |||
| Church based organisations | 2693 | 2251 | |||
| Gift | 0 | 200 | |||
| Children’s day prizes | 126 | 0 | |||
| Communications | 475 | 0 | |||
| Total | 13537 | 10971 | |||
| 11. Individual MissionarySupport | 2024 | 2023 | |||
| Mission Africa | 0 | 200 | |||
| BCM | 250 | 0 | |||
| World Development Appeal | 200 | 200 | |||
| Presbyterian Childrens Society | 590 | 940 | |||
| Moderator’s Appeal | 0 | 250 | |||
| Miscellaneous/others | 1300 | 100 | |||
| Midweek | 220 | 360 | |||
| Total | 2560 | 2050 |
MERSEY STREET PRESBYTERIAN CHURCH A congregation of the Presbyterian Church in Ireland
TRUSTEES ANNUAL REPORT
| TRUSTEES ANNUAL REPORT | TRUSTEES ANNUAL REPORT | ||||
|---|---|---|---|---|---|
| 12. United Appeal | 2024 | 2023 | |||
| United Appeal | 3497 | 4829 | |||
| Total | 3497 | 4829 | |||
| 13. Mission Fund Allocations foryoung peoples work | 2024 | 2023 | |||
| Fun Factory | 150 | 0 | |||
| Rainbows | 250 | 0 | |||
| HolidayBible Club | 1032 | 0 | |||
| Other allocations | 0 | 0 | |||
| Total | 1432 | 0 | |||
| Total expenditure | 97937 | 71301 |
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| Cash and Bank Account Balances atyear | Cash and Bank Account Balances atyear | end - comparison withpreviousyear | end - comparison withpreviousyear | end - comparison withpreviousyear | |
|---|---|---|---|---|---|
| 2024 | 2023 | difference | |||
| General Account | 14,673 | 13,043 | 1,631 | ||
| Buildings Account | 33,282 | 48,167 | -14,885 | ||
| SundaySchool Account | 230 | 195 | 35 | ||
| Children's and YoungPeople's Mission Grant | 4,667 | 6,099 | -1,432 | ||
| Church based Organisations | 1,911 | 1,442 | 469 | ||
| Total | 54,763 | 68,945 | -14,182 | ||
| General Investment Fund | 34,027 | 32,491 | 1,536 |
MERSEY STREET PRESBYTERIAN CHURCH A congregation of the Presbyterian Church in Ireland TRUSTEES ANNUAL REPORT
STATEMENT OF ASSETS AND LIABILITIES
As at 31 December 2024
1. Fixed Assets
The congregation owns the Church premises situated at 67 Mersey Street, Belfast BT4 1EX, and the associated fixtures and fittings, plant and machinery. The congregation also owns the Manse at 54 Sydenham Avenue, Belfast BT4 2DS, and the associated fixtures and fittings. These have an insurance value of £856,774.62 & £315,150.62 respectively.
2. Investments
The congregation has the following investments. Amounts shown at market
value
| 2024 £ |
2023 £ |
|
|---|---|---|
| General Investment Fund | 34,027 | 32,491 |
| Other Investments (from bequests) | nil | nil |
3. Amounts owed
At the end of the year, the following amounts were owed to the congregation.
| 2024 £ |
2023 £ |
|
|---|---|---|
| Interest Free Loans | nil | nil |
MERSEY STREET PRESBYTERIAN CHURCH A congregation of the Presbyterian Church in Ireland
TRUSTEES ANNUAL REPORT
4. Cash and Bank balances
| 2024 £ |
2023 £ |
|
|---|---|---|
| Current Accounts | 54,662 | 67,494 |
| Outstanding lodgements | 101 | 49 |
5. Amounts owed
| 2024 £ |
2023 £ |
|
|---|---|---|
| Loans | nil | nil |