Magheramorne Congregation of the Presbyterian Church in Ireland
Financial Statements
Year Ended
31 December 2024
MAGHERAMORNE PRESBYTERIAN CHURCH
a Congregation of The Presbyterian Church in Ireland
STATEMENT OF FINANCIAL ACTIVITY (Receipts & Payments Account) for the year ended 31 December 2024
| Note Income and Endowments from: Donations and legacies 2 Charitable activities 3 Other trading activities 4 Investment income 5 Other 6 Total Receipts Expenditure On: Raising funds 7 Charitable activities 8 Other 9 Total Payments Net income/(expenditure) Transfers between funds Net movement in funds Reconciliation of Funds: Total funds brought forward Total funds carried forward 10 |
Unrestricted Funds Restricted Funds Total Funds 2024 Total Funds 2023 £ £ £ £ 34,871 8,099 42,970 49,914 226 1,728 1,954 2,680 5,500 1,705 7,205 8,020 496 15 - 15 14 |
|---|---|
| 40,612 11,532 52,145 61,124 |
|
| 516 - 516 504 30,982 13,902 44,884 43,154 110 - 110 200 |
|
| 31,608 13,902 45,510 43,858 |
|
| 9,004 (2,370) 6,635 17,266 (3,191) 3,191 - - |
|
| 5,813 821 6,635 17,266 50,334 20,505 70,839 54,070 |
|
| 56,147 21,327 77,474 71,335 |
MAGHERAMORNE PRESBYTERIAN CHURCH
a Congregation of The Presbyterian Church in Ireland
STATEMENT OF ASSETS AND LIABILITIES As at 31 December 2024
1. Fixed Assets
The Congregation owns the Church Premises situated at Ballylig Road, Magheramorne and the associated fixtures and fittings. These had an insurance value of £2,211,871 at the last renewal date. The Congregation also owns the Church Manse and the associated fixtures and fittings together with adjoining land. These had an insurance value of £603,237 at the last renewal date.
2. Investments
The Congregation has the following investments. Amounts shown at market valuation
| 2. Investments The Congregation has the following investments. Amounts shown at market valuation |
|
|---|---|
| Other investments 3. Amounts Owed to the Congregation At the end of the year the following amounts were owed to the Congregation Loan 4. Cash and bank balances Current Account No.1 Deposit Account No.2 Cash Savings Account (N1) |
2024 2023 £ £ - - |
| - - |
|
| 2024 2023 £ £ - - |
|
| - - |
|
| 2024 2023 £ £ 58,577 52,696 17,181 14,895 1,587 3,539 83,277 80,015 |
|
| 160,622 151,145 |
N1: Increase in savings account is payment of interest from Danske Bank
Approved by the Kirk Session at a meeting on 21 May 2025 and signed on their behalf by Name Mr J M Gardner (Clerk of Session)
Name Mr N Graham (Treasurer)
MAGHERAMORNE PRESBYTERIAN CHURCH
a Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS 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 Report Regulations (Northern Ireland) 2015, to prepare the 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
| 2. DONATIONS AND LEGACIES | |
|---|---|
| Recorded giving Loose collections Donations and gifts Gift Aid Legacies and bequests |
Unrestricted Funds Restricted Funds Total Funds 2024 Total Funds 2023 £ £ £ £ 28,229 - 28,229 32,049 - 586 586 821 1,285 7,513 8,798 7,134 5,357 - 5,357 9,911 - - - - |
| 34,871 8,099 42,970 49,914 |
MAGHERAMORNE PRESBYTERIAN CHURCH
a Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS (cont'd) 31 December 2024
3. CHARITABLE ACTIVITIES
| Income from charitable activities Other Organisational Income 4. OTHER TRADING ACTIVITIES Letting premises Fundraising events 5. INVESTMENT INCOME Deposit interest |
Unrestricted Funds Restricted Funds Total Funds 2024 Total Funds 2023 £ £ £ £ - - - 226 1,728 1,954 2,680 |
|---|---|
| 226 1,728 1,954 2,680 |
|
| Unrestricted Funds Restricted Funds Total Funds 2024 Total Funds 2023 £ £ £ £ 5,500 - 5,500 6,800 - 1,705 1,705 1,220 |
|
| 5,500 1,705 7,205 8,020 |
|
| Unrestricted Funds Restricted Funds Total Funds 2024 Total Funds 2023 £ £ £ £ - - - 496 |
|
| - - - 496 |
MAGHERAMORNE PRESBYTERIAN CHURCH
a Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS (cont'd) 31 December 2024
6. OTHER INCOME
| Wayleaves 7. RAISING FUNDS FWO envelopes Fundraising events 8. CHARITABLE ACTIVITIES General Assembly Assessments Presbytery fees Ministry and support staff costs Congregational running costs Donations to missions and charities Organisational expenditure 9. OTHER EXPENDITURE Other |
Unrestricted Funds Restricted Funds Total Funds 2024 Total Funds 2023 £ £ £ £ 15 - 15 14 |
|---|---|
| 15 - 15 14 |
|
| Unrestricted Funds Restricted Funds Total Funds 2024 Total Funds 2023 £ £ £ £ 516 - 516 504 - - - |
|
| 516 - 516 504 |
|
| Unrestricted Funds Restricted Funds Total Funds 2024 Total Funds 2023 £ £ £ £ 3,145 - 3,145 2,753 362 - 362 352 4,002 - 4,002 12,064 23,422 1,515 24,937 19,204 50 9,665 9,715 4,708 - 2,723 2,723 4,073 |
|
| 30,982 13,902 44,884 43,154 |
|
| Unrestricted Funds Restricted Funds Total Funds 2024 Total Funds 2023 £ £ £ £ 110 - 110 200 |
|
| 110 - 110 200 |
MAGHERAMORNE PRESBYTERIAN CHURCH
a Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS (cont'd) 31 December 2024
10. FUND BALANCES
| Fund (i) Unrestricted Funds General Fund (ii) Restricted Funds United Appeal Christian Aid World Development Presbyterian Childrens Society Larne Food Bank Moderators Appeal Larne High School Students' Bursary Open Doors Improvement Fund Organ Account Sunday School Account Presbyterian Women Flower Committee Account Dance Class Junior Christian Endeavour Account Mums & Tots Account Total Funds |
Balance at start Receipts Payments Surplus/ (Deficit) Transfer in/(out) Balance at end £ £ £ £ £ £ 50,334 40,354 31,608 5,555 (3,191) 55,889 |
|---|---|
| 50,334 40,354 31,608 5,555 (3,191) 55,889 |
|
| - 1,285 4,406 - 3,121 - - - - - - 115 395 395 - 510 - - - - - - - - - (203) 203 - - - - - - - - - - - - - - - - - - 15,280 3,110 1,209 1,901 70 17,251 175 175 (175) - 424 100 112 (12) 413 306 2,150 2,212 (62) 244 580 126 131 (5) 575 2,762 1,498 3,212 (1,714) 1,048 846 2,226 1,854 372 1,218 220 697 592 106 326 |
|
| 20,505 11,791 13,902 807 3,191 21,585 |
|
| 70,839 52,145 45,510 6,362 - 77,474 |