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2024-12-31-accounts

Belmont Presbyterian Church a congregation of the Presbyterian Church in Ireland

Trustees Annual Report and Financial Statements For the year ended 31 December 2024

Registered with the Charity Commission for Northern Ireland NIC104541

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TRUSTEES ANNUAL REPORT

The Trustees present their Annual Report and Financial Statements for the year ended 31 December 2024 including a Balance Sheet as at that date.

REFERENCE AND ADMINISTRATIVE DETAILS

Belmont congregation of the Presbyterian Church in Ireland 94 Sydenham Avenue Belfast BT4 2DT

Registered Charity in Northern Ireland (NIC104541)

CHARITY TRUSTEES

The Charity Trustees who served during the year or who were trustees at the date of this report were:

Ronnie Calvert Caroline McCollum

Steven McCracken Fred McKee Pamela Elliott Ken Porter Ronnie Elliott Meredith Rountree Andrew Sherrard Aureol Rintoul-Campbell Debbie Thompson Christopher Steele Bruce McCormack Clifford Lowry Marion Thompson Karen Watson Dermot Mackie Mildred McIlwaine William Harkness

PRINCIPAL OFFICE BEARERS

Minister Rev William Harkness Clerk of Session Christopher Steele Treasurer (Acting) J S M Rountree

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TRUSTEES ANNUAL REPORT (cont’d)

INDEPENDENT EXAMINER

Allen Fleming & Co 161 – 163 Upper Lisburn Road Belfast BT10 0LJ

BANKERS

Ulster Bank Ltd Arches Retail Park Connswater Belfast BT5 4AF

SOLICITORS

Crawford Lockhart Black Solicitors 7-11 Linenhall Street Belfast BT2 8AA

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TRUSTEES ANNUAL REPORT (cont’d)

STRUCTURE AND MANAGEMENT

The Kirk Session

The charity trustees of the congregation are the members of its Kirk Session. Under the congregation’s governing document, The Code, the book of the constitution and government of the Presbyterian Church in Ireland, the Kirk Session seeks to watch over and promote the spiritual interest of the congregation and of persons not connected with any congregation who are within its bounds. It ensures pastoral care is in place in the congregation and seeks to further the contribution of the Church to Christian witness and service in the local community. The Kirk Session has delegated to its Congregational Committee the temporal affairs of the congregation including administering all funds and property belonging to the congregation. Members of the Kirk Session are ex-officio members of the Congregational Committee.

The Kirk Session consists of the ordained minister and the ruling elders of the congregations. All members are entitled to propose, speak and exercise equal votes at meetings, except that the Moderator, the minister in active duty in the congregation, has no deliberative but only a casting vote. Stated meetings of the Kirk session are held on the third Tuesday of every month except July and August.

To be chosen for the office of the eldership in the congregation a person must be a voting member and a regular attendant on its ordinances. The selection of those proposed to be called to the office can be either by the congregation or by the Kirk Session. Members are elected if they obtain two-thirds of votes cast.

Presbytery

Under the Presbyterian Church in Ireland form of governance the corporate oversight of a congregation is the responsibility of a Presbytery which superintends generally the spiritual and temporal affairs of the congregations assigned to it by the General Assembly of the Presbyterian Church in Ireland. Belmont Presbyterian Church has been assigned to the East Belfast Presbytery of the Presbyterian Church in Ireland. The membership of the Presbytery consists mainly of the active ministers of congregations assigned to it by the General Assembly, minsters who have retired from active duty and an elder appointed by the Kirk Session of each congregation.

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TRUSTEES ANNUAL REPORT (cont’d)

The General Assembly

The General Assembly is the supreme court of the Church, representing in one body the whole Church and acting as its supreme legislative, administrative and judicial authority, in dealing with all matters brought before it. The General Assembly is normally constituted during the first week in June for worship and to conduct its business. At the end of business it is dissolved. The membership of the General Assembly consists mainly of the active ministers of each congregation, retired minsters and a representative elder appointed by the Kirk Session of each congregation.

DESCRIPTION AND PURPOSE

Belmont Presbyterian Church is a congregation of the Presbyterian Church in Ireland. The Presbyterian Church in Ireland, as a Reformed Church within the wider body of Christ is grounded in the Scriptures, and exists to love and honour God through faith in His Son and by the power of His Spirit, and to enable her members to play their part in fulfilling God’s mission to our world.

The congregation’s mission is to connect with God, to connect with others, and to connect others with God, through the love of Jesus Christ.

The Congregation aims to live out its Mission and Vision as a family of God’s people by being:

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TRUSTEES ANNUAL REPORT (cont’d)

ACTIVITIES AND OBJECTIVES

The congregation meets for worship every Sunday at 10.30am and on certain Sunday evenings at 7.00pm throughout the year for short courses. All visitors are welcome to join. The Sacrament of the Lord’s Supper is observed approximately 4 times during the year and all those who have been baptised and who also have made a profession of faith in the Lord Jesus Christ are admitted to the Lord’s Supper. The congregation holds regul ar bible study meetings and has a wide range of organisations including:

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TRUSTEES ANNUAL REPORT (cont’d)

ACHIEVEMENTS AND PERFORMANCE

Worship and prayer

Our services were held on Sunday mornings in-person and also steamed online. We do not hold weekly Sunday evening services, but instead hold short courses on various occasions throughout the year.

The average attendance at in-person morning services is 100, and evening services 20.

Pastoral care

At Belmont we believe it is the role of every member to pastorally care for others. For members who are sick or no longer able to attend church, they are regularly visited by either the Minister, the Pastoral Visitor, Elders, Youth worker or someone from our team of “congregational visitors”

Communication

Our ‘Weekly Round Up’ email is sent to members each week so as to keep them up to date with recent activities and upcoming services and events. We also continue to maintain a website and Facebook page. Our weekly announcements are listed in our order of service and displayed on overhead screens at each service.

Mission and Outreach

At Belmont, we support the Dundonald food bank throughout the year and Christian Aid annually. The Presbyterian Women raise money and support the Mission programme of the PW centrally and the Youth and Children’s ministry regularly support the charity ‘Sta nd by Me.’

The Ferguson Memorial Fund considers and distributes funds annually to a range of charitable purposes who apply under the Trust Deed.

Our usual Christian Aid Lunch (after the morning service) and door-to-door collection in the local area continues to raise money for this cause.

In June we held our annual garden fete. This continues to be a great opportunity to open our grounds and buildings to our local community; hosting a silver band, activities for kids, selling everything from bric-a-brac to garden plants whilst at the same time raising funds for our property and showcasing all the church has to offer.

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Our annual summer Holiday Bible Club continues to be open to both children from the church and the surrounding area, under the guidance of the Children, Youth and Family Coordinator.

Our annual Community Carol Singing evening began with a time for families making Christmas crafts before moving outdoors to join with other church members and those from the surrounding community; shared in singing much loved carols whilst enjoying seasonal drinks and snacks.

The congregation continues to support the PCI’s United Appeal for Mission. The United Appeal for Mission is at the very heart of the Presbyterian Church in Ireland. Every aspect of the Church's mission depends to some extent on United Appeal. It supports projects, programmes and staff at home and overseas. It helps congregations and individuals to build God’s Kingdom through youth and children’s ministry, social action and the training of leaders.

Presbytery

The congregation was represented at the regular meetings of Presbytery by our minister and representative elder. This provides an important link between the congregations and the wider structures of the church.

General Assembly

The minister and one of our elders attended the meeting of the General Assembly of the Presbyterian Church in Ireland held in Assembly Buildings, Belfast, in June; taking part in discussions, debate and decision-making. Minutes of the General Assembly are available on the PCI website.

Property

Church Property consists of the church sanctuary and halls, the manse which is situated in the grounds beside the church, a house at 11 Norwood Drive and a Gate Lodge at 96, Sydenham Avenue.

No Substantial works were carried out during the year on any of these properties. However ongoing maintenance was carried out throughout the year.

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TRUSTEES ANNUAL REPORT (cont’d)

Organisations

Volunteers

The Trustees wish to acknowledge their deep appreciation of those who give freely of their time by serving on committees and helping with organizations and other church activities.

TRUSTEES ANNUAL REPORT (cont’d)

PUBLIC BENEFIT STATEMENT

The Presbyterian Church in Ireland meets the public benefit requirement by providing benefit to its members and the general public by making known the Christian Gospel of the Lord Jesus Christ through the advancement of religion.

The direct benefits which flow from the purposes of the Church include the gaining of an understanding in Christian beliefs as set out in the Bible and in the Church’s subordinate standards (the Westminster Confession of Faith and the Shorter and Larger Catechisms) leading to spiritual and moral development and opportunities for response to Bible teaching. In turn, this framework leads to practical expressions of Christian beliefs and standards in the local community such as through the care of those in need (including the sick, disabled and bereaved).

Generally, the above benefits are delivered locally by congregations and their members, or are facilitated through presbyteries or are organised and delivered centrally. Local delivery is facilitated by central resources in almost all cases. Public access is made known through the use of noticeboards, printed material, press advertisement, websites, and social media or in other ways.

The benefits are demonstrated through regular evaluation of the services and informal and ad-hoc feedback from members, their families, and members of the public.

The purpose does not lead to harm. The only private benefit flowing from our purpose is related to Ministers, Missionaries, Deaconesses, Irish Mission workers and Lay Agents who receive benefits as a result of their holding office or employment. However, this is incidental and necessary in order to further our charitable purpose. There are no other private benefits. The beneficiaries of this purpose are members, their families, other individuals that the Presbyterian Church in Ireland is in direct and indirect contact with, the community in which pastoral services are provided and other communities throughout Northern Ireland, the Republic of Ireland, and worldwide which benefit from our engagement with and support for both Christian and other secular organisations, charities and individual members of the public.

The Kirk Session has had regard to the Charity Commission’s public benefit requirement statutory guidance.

.

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TRUSTEES ANNUAL REPORT (cont’d)

FINANCIAL REVIEW

The congregation’s main source of income is members’ contributions through the Weekly – Freewill Offering. There were 215 contributors during the year (2023 216 contributors) donating a total of £174,471 (2023 - £171,226).

Total Income of the congregation during the year was £237,327 compared to £237,519 in the previous year.

Total expenditure of the congregation during the year was £240,630 compared to £232,552 in the previous year. (The main reason for the change was due to the nett movement of personnel impacting salaries).

RESPONSIBILITIES IN RESPECT OF THE FINANCIAL STATEMENTS

The Trustees are responsible for preparing the Charity Commission Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

The Trustees are required to prepare financial statements for each financial year which give a true and fair view of the financial statements of the congregations and the financial activities for that year. In preparing the financial statements the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the funds transactions and disclose with reasonable accuracy at any time the financial position of the congregations and enable them to ensure that the financial statements comply with the Statement of Recommended Practice “Accounting and Reporting by Charities (1 January 2015)”. They are also responsible for safeguarding the assets of the congregation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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BELMONT PRESBYTERIAN CHURCH IN IRELAND

TRUSTEES ANNUAL REPORT (cont’d)

ANNUAL REPORT

For the year ended 31 December 2024

GOING CONCERN

The activities of the congregation are dependent on ongoing contributions from its members. The Trustees are of the opinion that the congregation has sufficient resources at the date of approval of these financial statements to meet commitments which will arise in the year from the date of signing this report and subject to the continuing support from members to fund, on an ongoing basis, the congregation’s current activities and other financial commitments.

RESERVES POLICY

The Trustees have considered the level of unrestricted reserves that is appropriate to hold, taking account of current and ongoing commitments. It is the policy of the Trustees to hold at least one month’s normal expenditure in reserves on the assumption that the congregation will continue to maintain its financial support. At the year- end, unrestricted – reserves comprising Cash and Investments amounted to £68,758 (2023 £71,067).

RISK REVIEW

A review of major risks has been undertaken by the Trustees and systems and procedures implemented to manage identified risks. The principal risks are in relation to the likelihood of reputational damage and financial risks associated with the expectation of ongoing financial support from members. These risks are mitigated by the Trustees, and the Congregational Committee, regularly monitoring the various activities of the congregation at stated meetings and by encouraging members in their regular giving.

Approved by the Kirk Session at a meeting on 12[th] October 2025 and signed on its behalf by

Rev William Harkness Minister (Moderator of Kirk Session)

Mr Christopher Steele Clerk of Session

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QUALIFIED INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF BELMONT CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

STATEMENT OF FINANCIAL ACTIVITY For the year ended 31 December 2024

Notes Unrestricted
Funds		 Restricted
Funds		 Endowment
Funds		 Total Funds
2024		 Total Funds
2023
£ £ £ £ £
Income and Endowments from:
Donations and legacies 2 157,805 16,666 0 174,471 171,226
Charitable activities 3 902 19,732 0 20,634 14,008
Other trading activities 4 6,535 0 0 6,535 2,903
Investments 5 8,872 18,834 0 27,706 33,666
Other 6 1,466 6,515 0 7,981 15,716
---------- ---------- ---------- ---------- ----------
Total 175,580 61,747 0 237,327 237,519
---------- ---------- ---------- ---------- ----------
Expenditure on:
Raising funds 7 372 0 0 372 2,179
Charitable activities 8 177,517 62,741 0 240,258 228,058
Other 9 0 0 0 0 2,315
---------- ---------- ---------- ---------- ----------
Total 177,889 62,741 0 240,630 232,552
---------- ---------- ---------- ---------- ----------
Net gains/(losses) on investments 0 0 12,157 12,157 (3,129)
---------- ---------- ---------- ---------- ----------
Net Income / (expenditure) 0 0 0 0 0
Transfers between funds 0 0 0 0 0
Gains/(losses on revaluation of fixed 0 0 0 0 0
assets
----------- ---------- ---------- ------------ ----------
Net movement in funds (2,309) (994) 12,157 8,854 8,096
Reconciliation of funds:
Total funds brought forward 71,067 495,489 510,480 1,077,036 1,068,940
---------- --------- ---------- ------------- ----------
Total funds carried forward 68,758 494,495 522,637 1,085,890 1,077,036
====== ====== ====== ======= ======

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland BALANCE SHEET

As at 31 December 2024

ALANCE SHEET
s at 31 December 2024
Notes Unrestricted
Funds		 Restricted Funds Endowment
Funds		 Total Funds 2024 Total Funds 2023
£ £ £ £ £
Fixed assets:
Tangible assets 12 0 431,309 0 431,309 447,505
Heritage assets 0 0 0 0 0
Investments 13 0 0 522,637 522,637 510,480
-------- ---------- ---------- ---------- ----------
Total fixed assets 0 431,309 522,637 953,946 957,985
-------- ---------- ---------- ---------- ----------
Current assets
Debtors 14 0 0 0 0 0
Current Investments 0 0 0 0 0
Cash at bank and in hand 15 68,758 63,186 0 131,944 119,051
-------- ---------- ---------- ---------- ----------
Total current assets 68,758 63,186 0 131,944 119,051
-------- ---------- ---------- ---------- ----------
Liabilities:
Creditors: Amounts falling due 16 0 0 0 0 0
within one year
-------- ---------- ---------- ---------- ----------
Net current assets or liabilities 68,758 494,495 522,637 1,085,890 1,077,036
-------- ---------- ---------- ---------- ----------
Total assets less current
liabilities
Creditors: Amounts falling due 17 0 0 0 0 0
after more than one year
Provisions for liabilities
-------- ---------- ---------- ---------- ----------
Total net assets or liabilities 68,758 494,495 522,637 1,085,890 1,077,036
===== ======= ======== ========= ========

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

BALANCE SHEET As at 31 December 2024

£ £ £ £ £ Funds of the charity Restricted income funds 18 0 494,495 307,878 802,373 794,362 Unrestricted funds 18 68,758 0 214,759 283,517 282,674 --------------------- ------------------------------ Total charity funds 68,758 494,495 522,637 1,085,890 1,077,036

Approved by the Kirk Session at a meeting on 12[th] October 2025 and signed on its behalf by

Rev William Harkness Minister (Moderator of Kirk Session)

Mr Christopher Steele Clerk of Session

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS

31 December 2024

1. ACCOUNTING POLICIES

BASIS OF FINANCIAL STATEMENTS

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Ireland (FRS102) (effective 1 January 2015).

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 (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.

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.

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS

31 December 2024

1. ACCOUNTING POLICIES (cont’d) INCOMING RESOURCES

(i) Recognition of incoming resources

These are included in the Statement of Financial Activities (SoFA) when:

(ii) Incoming resources with related expenditure

Where incoming resources have related expenditure (as with fundraising income) the incoming resources and related expenditure are reported gross in the SoFA.

(iii) Grants and donations

Grants and donations are only included in the SoFA when the congregation has unconditional entitlement to the resources.

(iv) Tax reclaims on donations and gifts

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 once the 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. Gifts 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.

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS

31 December 2024

1. ACCOUNTING POLICIES (cont’d)

(vii) Donated services and facilities

These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.

(viii) 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 conditions

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.

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS

31 December 2024

1. 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 assets for use by charity are capitalised if they represent major capital improvements with a commensurately long life. They are valued at cost or, if gifted, at the value to the Church on receipt. Recurring maintenance or repair costs on buildings and other equipment is not capitalised and is written off in the SoFA

Depreciation is recorded on all tangible fixed assets other than freehold land, at rates calculated to write of the cost, less estimated residual value, of each asset over its expected useful life as follows

Buildings & major refurbishment: - over 50 years Major fixtures, fittings and equipment - over 25 years

(xvi) Investments

Investments which are quoted on a recognised stock exchange are valued at market value at the year end. It is our policy to place all endowments into quoted investments on the recommendation of Stockbrokers.

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS (cont’d)

31 December 2024

2. DONATIONS AND LEGACIES

Unrestricted Funds Restricted
Funds		 Endowment
Funds		 Total Funds
2024		 Total Funds
2023
£ £ £ £ £
Recorded giving: 129,730 11,912
0 141,642 136,887
Loose collections 2,167 0 0 2,167 1,423
Donations and gifts 0 0 0 0
2,840
Gift Aid 24,908 4,754
0 29,662 29,076
Legacies and bequest 1,000 0 0 1,000 1,000
---------- ---------- -------- ---------- ----------
157,805 16,666
0 174,471 171,226
---------- ---------- -------- ---------- ----------
.
CHARITABLE ACTIVITIES
Unrestricted Funds Restricted Funds Endowment Funds Total Funds
2024		 Total Funds
2023
£ £ £ £ £
Income from charitable activities 0 14,794 0 14,794 8,710
Fees from weddings and funerals 902 0 0 902 900
Membership fees 0 0 0 0 0
Fundraising events 0 4,938 0 4,938 4,398
Grants -Gov’t Job Retention Sch 0 0 0 0 0
---------- ---------- ---------- ---------- ----------
902 19,732 0 20,634 14,008
---------- ---------- ---------- ---------- ----------

3. CHARITABLE ACTIVITIES

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS (cont’d)

31 December 2024

4. OTHER TRADING ACTIVITIES

Unrestricted Funds Restricted
Funds		 Endowment Funds Total Funds
2024		 Total Funds
2023
£ £ £ £ £
Letting of premises 6,535 0 0 6,535 2,903
---------- ---------- ---------- ---------- ----------
6,535 0 0 6,535 2,903
---------- ---------- ---------- ---------- ----------
. INVESTMENTS
Unrestricted Funds Restricted
Funds		 Endowment Funds Total Funds
2024		 Total Funds
2023
£ £ £ £ £
Deposit interest 0 0 0 0 0
General Investment Fund 7,472 6,749 0 14,221 12,472
Property Rents 0 9,950 0 9,950 17,047
Other investment income 1,400 2,135 0 3,535 4,147
---------- ---------- ---------- ---------- ----------
8,872 18,834 0 27,706 33,666
---------- ---------- ---------- ---------- ----------

2

5. INVESTMENTS

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS ( cont’d)

31 December 2024

6. OTHER INCOME

Unrestricted Funds Restricted
Funds		 Endowment
Funds		 Total Funds
2024		 Total Funds
2023
£ £ £ £ £
Other income 1,466 6,515 0 7,891 15,716
---------- ---------- ---------- ----------
----------
1,466 6,515 0 7,891 15,716
---------- ---------- ---------- ----------
----------
. COST OF RAISING FUNDS
Unrestricted Funds Restricted
Funds		 Endowment
Funds		 Total Funds 2024 Total Funds
2023
£ £ £ £ £
FWO envelopes 372 0 0 372 398
Fundraising events 0 0 0 0 1,781
---------- --------- --------- ---------- ----------
372 0 0 372 2,179
---------- --------- --------- ---------- ----------
-

7. COST OF RAISING FUNDS

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS (cont’d)

31 December 2024

8. CHARITABLE ACTIVITIES

Unrestricted
Funds		 Restricted
Funds		 Endowment Funds Total Funds
2024		 Total Funds
2023
£ £ £ £ £
General Assembly Assessments 16,572 13,121 0 29,693 30,528
Presbytery fees 882 0 0 882 840
Ministry and support staff costs 114,633 0 0 114,633 102,798
Congregational running expenses 44,613 26,815 0 71,428 66,981
Donations to Missions and 0 7,967 0 7,967 8,008
charities
Governance costs 816 0 0 816 930
Repairs & Maintenance 0 14,839 0 14,839 17,973
---------- ---------- ------- ---------- --------
177,516 62,742 0 240,258 228,058
---------- ---------- -------- ---------- --------
.
OTHER EXPENDITURE
Unrestricted
Funds		 Restricted
Funds		 Endowment Funds Total Funds
2024		 Total Funds 2023
£ £ £ £ £
Investment of Legacies 0 0 0 0 0
Ulster Bank Loan charge 0 0 0 0 2,315
---------- ---------- ---------- ---------- ----------
0 0 0 0 2,315
---------- ---------- ---------- ---------- ----------

9. OTHER EXPENDITURE

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS (cont’d)

31 December 2024

10. EMPLOYEES

Employment Costs

Total Funds
2024		 Total Funds
2023
£ £
Wages and Salaries 96,403 88,366
Social Security Costs 5,801 6,325
Pension contributions 12,429 8,107
---------- -------
114,633 102,798
======= ======
umber of Employees
he average number of employees, including the minister of the congregation, during the
ear was
Total Funds
2024		 Total Funds 2023
Nos Nos
Average number of employees 4 5
==== ====

Number of Employees

The average number of employees, including the minister of the congregation, during the year was

There were no employees in receipt of employee benefits in excess of £60,000.

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS (cont’d)

31 December 2024

11. PENSION COSTS

The minister of the congregation is a member of the Presbyterian Church in Ireland Pension Scheme (2009). 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 Scheme (2009) is a funded Scheme of the defined benefit type, providing defined benefits based on career average revalued salary. The Scheme has assets 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% of pensionable salaries to cover the accrual of benefits for future service, expenses, the cost of insuring death in service benefits and funding the scheme deficit.

The contributions made by the congregation during the year were

Contributions

£ £ 10,584 5,488

The congregation operates a defined contribution pension scheme for its employees. The scheme and its assets are held by an independent scheme manager. The pension charge represents the contributions due from the congregation during the year

£ £ Contributions 1,845 2,618

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS (cont’d) 31 December 2024

12. TANGIBLE FIXED ASSETS

Land &
Buildings		 Fixtures and Fittings Vehicles Total
£ £ £ £
Cost or valuation
At start of year 684,779 0 0 684,779
Additions 0 0 0 0
Disposals 0 0 0 0
---------- -------- ---------- ----------
At end of year 684,779 0 0 684,779
---------- -------- ---------- ----------
Depreciation
At start of year 237,277 0 0 237,277
Provision for year 16,195 0 0 16,195
Disposals 0 0 0 0
---------- -------- ---------- ----------
At end of year 253,472 0 0 253,472
---------- -------- ---------- ----------
Net Book Value
At start of year 447,505 0 0 447,505
---------- -------- ---------- ----------
At end of year 431,309 0 0 431,309
====== ====== ====== =======

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS (cont’d)

31 December 2024

Accounts at the net book value and is being depreciated over 50 years. The latter has been owned by the Church for over 50 years and is being treated as being fully depreciated.

13. INVESTMENTS

2024 2023
£ £
General Investment Fund 522,637 510,480
Investment Properties 0 0
---------- ----------
522,637 510,480
====== ======
2024 2023
£ £
Value at start of year 510,480 507,351
Additions 0 0
Disposals 0 0
Impairment 0 0
Gains / (Losses on revaluation) 12,157 3,129
---------- ----------
Value at end of year 522,637 510,480
======= =======

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS (cont’d)

31 December 2024

14. DEBTORS

2024 2023
£ £
Gift Aid Recoverable 0 0
---------- ----------
0 0
====== ======
5.
CASH AT BANK AND IN HAND
2024 2023
£ £
U B No 1 a/c–Gen Unrestricted 68,758 71,067
U B No 1 a/c–Gen Restricted (4,493)
(4,412)
U B No 2 a/c–Clearing 0 0
U B No 3 a/c - Property 25,333 11,980
Ferguson Memorial Fund 225 191
In–House Organisations 30,293 27,372
Ext- House Organisations 11,828 12,853
----------- ---------
Total 131,944 119,051
======== =======

15. CASH AT BANK AND IN HAND

16. CREDITORS: amount falling due within one year

2024 2023
£ £
Ulster Bank Loan 0 0
---------- ----------
0 0
====== ======

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS (cont’d)

31 December 2024

17. CREDITORS: amount falling due after more than one year

2024 2023
£ £
Ulster Bank Loan 0 0
Interest Free Loan 0 0
---------- ----------
0 0
====== ======

18. FUND BALANCES AND RECONCILIATION OF FUNDS

Fund Balance at
Income/		 Expend Gains/ Transfer Balance at
start Gains Losses end
£ £ £ £ £ £
Unrestricted Funds
General Fund 71,067 175,580 (177,889) 0 0 68,758
---------- ---------- ---------- ---------- ---------- ----------
Sub - total 71,067 175,580 (177,889) 0 0 68,758
---------- ---------- ---------- ---------- ---------- ----------
Restricted Funds
General Fund (129,980) 14,584 (30,860) 0 0 (146,256)
Others 625,469 47,163 (31,881) 0 0 640,751
----------- ----------- ----------- ----------- ---------- ------------
Sub - total 495,489 61,747 (62,741) 0 0 494,495
------------ ----------- ----------- ----------- ---------- ------------
Endowment Funds
Unrestricted 211,607 0 0 3,152 0 214,759
Restricted 298,873 0 0 9,005 0 307,878
------------- ----------- ------------ ----------- ---------- ------------
Sub-total 510,480 0 0 12,157 0 522,637
------------- ------------- ------------- ----------- ----------- --------------
Grand Total 1,077,036 237,327 (240,630) 12,157 0 1,085,890
========= ======= ======= ======= ======= ========

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BELMONT PRESBYTERIAN CHURCH

A Congregation of The Presbyterian Church In Ireland

NOTES TO THE ACCOUNTS (cont’d) 31 December 2024

19. RELATED PARTY TRANSACTION

One of the Trustees, the minister of the congregation received remuneration of £44,320 and expenses of £7,036 for acting in that capacity. Pension contributions of £10,584 were paid by the congregation in respect of the minister to the Presbyterian Church in Ireland Pension Scheme (2009). One other trustee, the Pastoral Support Worker received remuneration of £4,483 during the year in connection with his duties.

During the year the congregation contributed the following amounts to Funds of the General Assembly of the Presbyterian Church in Ireland a separate charity

£16,572 for congregational assessments £13,121 towards the United Appeal £ 1,391 toward the World Development Appeal £0 towards Moderator’s Appeal

£0 towards Presbyterian Orphan & Children Society

The congregation contributed £882 towards Presbytery Assessments during the year

There were no other related party transactions.

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