## **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|