Charity Number.. NIC104768 Hill Street Presbyterian Church Annual Report and Unaudited Financial Statements for the financial year ended 31 December 2024
Hill Street Presbyterian Church CONTENTS Page Trustees, and Other Information Trustees, Report Statement of Trustees, Responsibilities Independent Examiner's ReFX)rt Stalement of Financial Activities Balance Sheet Notes to the Financial Statements 9-14 Supplementary Information relating to the Financial Statements 16
Hill Street Presbyterian Church TRUSTEES. AND OTHER INFORMATION Trusteès John Graham Kenny Belshaw Nigel Mccullough an Blair Dan Corr Nigel Girvan Billy Harra Clarke Kennedy Leslie Mccullough Graham Montgomery Malcolm Qua Colin Robb Glenn Barbour Lewis Porter David McReynolds Charity Numbar in Northern Ir¢land NIC104768 Principal Address 6 Applevale Portadown Co. Armagh BT63 5YG United Kingdom Indèpendent Examiner MG accountants IPortadown} 25-27 Carleton Street Portadown Co. Armagh BT62 3EP Northem Iland Principal Bankers Danske Bank PO Box 183 Donegall squa Wesl Belfast Co. Anlrim BT1 6JS United Kingdom
Hill Street Presbyterian Church TRUSTEES, REPORT for the financial year ended 31 December 2024 The trustees present their Trustees, Report and the unaudited financial statements for the financial year ended 31 December 2024. The fin8nci31 statements are prepared in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparirbg their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021. The Trustees, Report contains the information required to be provided in the Trustees. Annual Report under the Statement of Recommended Practice ISORP} guidelines. In this report the InJslees of Hill Street Presbyierian Church present a summary of its purpose, govemanTr. aclivilies, achievements and finances for the financial year 31 December 2024. Review of Activities. Achievements and Performance Hill Street Presbyterian Church exists lo lead people lo saving faith in Jesus. to bring them lo maturity within the fellowship and lo encoufage them to worship God in Spirit and Tnjlh. and with lives of service. Financial Review The results for the financial year are set out on page 7 and additional notes are provided showing income and expenditure in greater detail. Results and Dividends At the end of the financial year the charity has assets of £1.226,367 {2023 - £1.124.9331 and liabilities of £1,640 12023 - £1,5601- The net assets of the charity have increased by £101,354. Reserves Position and 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 lo hold at least 12 months normal expenditure. Al the year end the unrestricted reserves were £623.217. The Trustees consider it prudent to hold resetves al this level as the fvnding of ils present activities is dependenl of the ongoing financial support of members. Principal Risks and Uncertainties A review of major risks has been undertaken by the Tnjstees and 5y5tems and procedures implemented to manage identified risks. The principal risks are in relation lo 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 monitortng the various activities of the congregation at slated meetings and by encouraging members in their regular giving. Going Concern The activities of the congregation are dependent on ongoing contributions from its membèrs. The Trustees are of the opinion that the congregation has sufficient resources al the dale of approval of these financial slalements to meet commitments which will arise in the year from the d81e of signing this report and subject lo the continuing support from members lo fund on an ongoing basis the congregation's current activities and other financial commilmenls. Compliance with Sector-wide Legislation and StandaTds The Charities SORP IFRS 102) Approved by thg Trustees on 29 September 2025 and signed on its behalf by: Kenny Belshaw Tru$tee Nigel Mccul Trustee
Hill Street Presbyterian Church STATEMENT OF TRUSTEES, RESPONSIBILITIES for the financial year ended 31 December 2024 The trustees are responsible for preparing the ffinanryal statements in accordance with applicable law and regulations. The law applicable lo charities in Northem Ireland requires the trustees lo prepare financial statements for each financial year which give a true and fair view of the assets. liabilities and financial position of the charity as al the rinancial year end dale and of the surplus or deficit of the charity and otherwise comply with the Charities Act {Northem Ireland) 2008. In preparing these financial statements. the trustees a required to- sèlect suitable accounting policies and appty them consislenuy.. obseNe the methods and principles the Charities SORP make judgements and accounting eslimales that are reasonable and prudent.. slate whether Ihe financial statements have been prepared in accofdance with applicable accounting standards, identify those standards, and note the effect and the reasons for any material departure from those standards., and prepare the financial statements on the going concem basi5 unless it is inappropriate to presume that the charity 11 continue in operation. The trustees confim that they have complied with the above requirements in pParIng the financial statements. The trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the charity's transactions and disclose with reasonable accuracy al any lime the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act INorthem Ireland} 2008. They are also responsible for safeguarding the assels of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Trust&&s on 29 September 2025 and signed on its behalf by: lu/g, (1dC Kenny Belshaw Trusteo Nigel Mcc Trustee
Hill Street Presbyterian Church INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HILL STREET PRESBYTERIAN CHURCH We have examined the financial statements of the chartty for the financial year ended 31 December 2024, which comprise the Slalemenl of Financial Activities. the Balan¢e Sheet and the related notes. This report is made solely to the charity's members. as a body. in accordance with the Charities Act (Northern Ireland) 2008. Our work has been undertaken so that we might compile the financial statements Iliat we have been engaged lo compile, report lo the Trustees that we have done so, and slate those matters that we have agreed lo state lo them in this report and for no other purpose. To the fullest extent pemiilled by law. we do not accept or assume responsibility lo anyone other than the charity and the charity's members. as a body, for our work, or for this report. Respective responsibilities of trustees and examiner The charity's truslees are responsible for the preparation of the financial slatements in acwrdance with the requirements of the Charities Act (Northem Ireland} 2008. The charivs trustees consider that an audit is not required for this financial year under the Charities Acl (Northem Ireland) 2008 and that an independent examination is required. It is our responsibility to= examine the financial slalements under section 65 of the Charities Act- follow the procedures laid down by the general DI¢t10n3 given by the Charity Commission for Northem Ireland under section 65191{bl of the Charities Act- and state whether particular rnatters have come to our attention. Basis of independent examinerfs report We have examined your charity financial statements as required under section 65 of the Charities Act and our examination was carried out in accordance with the general Directions given by the Cltarity Commission for Northem Ireland under section 65i9iibl of the Charities Acl. An examination includes a review of the accounting record5 kept by the charity and a comparison of the financial statements presented with those records. 11 also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from the Iruslees concerning any such mallers. 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 accounts present a 'lrue and fair, view and the report is limited to those matters set out in the slalemenl below. In connection with our examination. no matter has come lo our attenlion which gives us cause lo believe that in. any material respect.. accounting records were nol kepl in accordance with section 63 of Ihe Charities Aet the financial statements do not accord with those accounting records the financial slalemenls have not been prepared in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS1021 there is further information needed for a proper understanding of the accounts to be reached. Independent examiner's statement We have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements lo be reached. ACCOUNTANTS Ip rtadown} 25 7 Carlelon Sireel Portadown Co. Amiagh BT62 3EP Northern Ireland Date: 29 September 2025
Hill Street Presbyterian Church STATEMENT OF FINANCIAL ACTIVITIES for the financial year ended 31 December 2024 Unrestricted Restricted Funds Funds 2024 2024 Total Unrestricted Restricted Funds Funds Funds 2024 2023 2023 Total Funds 2023 Notes Incoming Resour¢•s Acilvlties for generating funds 300.935 139.584 440.519 267,294 137,472 404,766 Resources Expended Charitable activities Other expendilufe 218.958 118,647 1.560 337,605 1,560 199.345 113.493 1,589 312,838 1,589 Total R•sourc•s Expended 218,958 120.207 339,165 199,345 115,082 314,427 Net incomingloutgoing resources before transfers 81.977 19.377 101.354 67.949 22.390 90,339 Gross transfers between funds Net movement in funds for the financial year 81.977 19.377 101.354 67,949 22,390 90,339 Reconclllatlon of funds= Total funds beginning of the year 14 623.217 500,156 1,123.373 555,268 477,766 1,033,034 Total funds at th• •nd of the year 705,194 519.533 1.224,727 623,217 500,156 1,123,373 The Statement of Financial Activities includes all gains and losses recognised in the financi21 year. All income and expenditure relate to continuing activities. The notes on pages 9 to 14 fom) part of the financial stalements
Hill Street Presbyterian Church BALANCE SHEET as at 31 December 2024 2024 2023 Notes Fixed Assets Tangible assets Investments 328,536 107,472 340,866 100,905 10 436,008 441,771 Current Assets Debtors Cash at bank and in hand 11 34,139 756,220 34,652 648,510 790,359 683,162 Creditor5'. Amounts falling due within one year 12 11,640) (1,5601 Net Current Assets 788,719 681,602 Total Assets less Current Liabilities 7,224,727 1,123,373 Funds Restricted trust funds Designated funds {Unrestricted} General fund (unrestricted) 519.533 709.794 (4,600) 500,156 627,817 14,600) Total funds 14 1,224.727 1,123,373 Approved by the Trustees and authorised for issue on 29 September 2025 and signed on its behalf by Kenny Belshaw Trustee Nigel Mcc Trust• The notes on p3ge5 9 10 14 form part ofthe financial statements
Hill Street Presbyterian Church NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2024 GENERAL INFORMATION Hill Street Presbyterian Church is a charily incorporated in Northem Ireland. The registered offfi of the company is 6 Applevale, Portadown. Co. Armagh, BT63 5YG, United Kingdom which is also the principal place of business of the charity. The financial statements have been presented in Pound {£} which is also the functional currency of the charity. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following a¢counting policies have been applied consistently in dealing with items which are considered material in relation to the charity's financial slalemenls. Basis of preparation The financial statements have been prepared on the going concèTn basis under the historical cost convention. mi)dified lo include certain items at fair value. The financial statements have been prepared in accordance with the Slalement of Recommended Practice {SORPI -Accounling and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102". As pem)itted by the Companies Act 2006. the charity has varied the standard fomiats in that act for the Slalemenl of Financial Activities and the Balance Sheet. Departures from the standard formals are lo comply with the requirements of the Charitie5 SORP and are in compliance with section 4.7. 10.6 and 15.2 of that SORP. Statement of complian The financial slalements of the charity for the financial year ended 31 December 2024 have been prepared on the going concern basis and in accordance with the Statement of Recommended Practice ISORPI "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102.. Incomlng Resources Voluntary income or capital is induded in the Statement of Financial Activities when the charity is legally entitled lo it, ils financial value can be quanbfied with reasonable certainly and there is reasonable certainty ol its ultimate receipt. Enlillemenl to legacies is considered established when the charity has been notified of a distribution to be made by the executors. Income received in advance of due performance under a contract is accounted for as deferred income until earned. Grants for activities are recognised as income when the related conditions for legal enlillement have been meL All other income is accounted for on an accruals basis. Incorne from charitable activities Incorne from challlable actsvilies include income eamed from the suppty of services under contractual arrangements and from performance related grants which have conditions that specify the provision of particular services lo be provided by the charity- Income from govemment and other co-funders is recognised when the charity is legally entitled to the income because il is fulfilling the conditions contained in the relaled funding agreements. Where a grant is received in advance. ils recognition is deferred and included in creditors. Where entitlement occurs before income is received, it is accrued in debtors. Grants from governments and other co-funders typically include one of the following types of conditions.. Performance based conditions.. whereby the charity is contractually entided to funding only to the extent that the ¢ore objectives of the grant agreement are achieved. Where the charity is meeting the core objective5 of a grant agreement, it recognises the related expenditure. lo the extent that il is reimbursable by the donor, as income. -Time based conditions.. whereby the charity is contractually entitled lo funding on the condition that il is ulilised in a particular period. In these cases the charity recognises the income to the exlenl il is ulilised within the period specified in the agreement. In the absence of such (x)nditions, assuming that receipt is probable and the amount can be reliably measured, grant income is recognised once the charity is notified of entitlement. Grants ceiVed towards capital expendilure are credited to the Statement of Financial Activities when received or receivable. whichever is earlier.
continued Hill Street Presbyterian Church NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2024 Resources Expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered. and is reported as part of the expenditure lo ?hich il relates. Other charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for Ils beneficiaries. 11 includes both costs that can be allocated direclty 10 such activities and those costs of an indirect nature necessary lo support them. Central Church Assessments are paid annually by quarterly inslalments. Ministry and Support staff are paid in accordance wth agreed temis and conditions and for the direct benefit of the charity's congregation. Tangible fixed assets and depreciation Tangible fixed assets are slated al wsl or at valuation, less accumulated depreciats'on. The charge lo depreciation is calculated to write off the jginal cost or valuation of langible fixed assets. less their eslimaled residual value. over Iheir expected useful lives as follows= LanL1 and buildings freehold Plant and machinery Motor vehicles 4Q/. Straight line 15VA Straight line 25 /0 Siraighl line Investments Investments held as fixed assets are stated at cost le55 provision for any perrnanent diminution in valije. Income from other financial fixed asset investments together with any related tax credit is recognised in the profit and loss account in the year in which it is receivable. Debtors Debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued al the amount prepaid nel of any trade discounts due. lllcorne recognised by the charity from governmelll agencies and other co-funders. but not yet received al year end. is induded in debtor5. Cash at bank and in hand Cash al bank and in hand comprises cash on deposit at banks requiring less than three months notice of withdrawal. Taxation and deferred taxation No current or deferred taxation arises as the charity has been granted charitable exemption. Irrecoverable valued added tax is expensed as incurred. INCOME OTHER TRADING ACTIVITIES Unrestricted Restricted Funds Funds 2024 2023 Regular Direct Giving Donations and Legacies Activities that generate income Inveslmenl In¢ome Other Income Sources 256,943 28,930 4,352 10,610 100 103.458 9.149 7,743 7.029 12.205 360,401 38,079 12,095 17,639 12,305 354,728 22,358 7,617 5,546 14,517 300.935 139.584 440,519 404,766 EXPENDITURE 10
continued Hill Street Presbyterian Church NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2024 CHARITABLE ACTIVITIES Direct Costs other Costs Support Costs 2024 2023 Central Church Assessments Ministry and Support Staff Life and Work Other Support costs Grants lo missions and charities Governance Costs {Nole 4.31 17.638 144.737 12,330 29,968 144,737 37,319 52,647 67,275 5.659 35,136 134,038 32,336 37,811 68.530 4.987 37.319 52,647 67.275 5.659 229,650 107,955 337.605 312,838 OTHER EXPENDITURE Direct Costs Other Costs Support C05ts 2024 2023 Other expenditure 1.560 1,560 1,589 GOVERNANCE COSTS Dlrect Costs Other Costs Support Costs 2024 2023 Bank fees Presbytery costs Accountancy 718 3.061 1.880 718 3,061 1.880 674 2,463 7,850 5.659 5.659 4,987 SUPPORT COSTS Charitable Other Governance Activities Expenditure Costs 2024 2023 Subsistence Bank fees Office costs Worship and Fellowship 12.866 1.560 14,426 718 7,937 17,896 22,131 40,911 2,185 3,311 11,773 674 7,937 15,715 13,678 39,216 1,847 2,813 718 7,937 16,266 22,131 40,911 2.185 1.630 Property and Equipment Insurance Governance costs 3.311 102,296 1,560 5,659 109,515 93,653 ANALYSIS OF SUPPORT COSTS 2024 2023 Subsistence Bank fees Office costs Worship and Fellowship 14,426 718 7.937 17,896 22,131 40,911 2,185 3,311 11,773 674 7,937 15,715 13,678 39,216 1,847 2,813 Property and Equipment Insurance Governance costs 109.515 93,653 11
continued Hill Street Presbyterian Church NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 310ecember 2024 NET INCOMING RESOURCES 2024 2023 Net Incoming Resources are stated after charglngllcrediting): Depreciation of tangible assets 12.330 16,930 INVESTMENT AND OTHER INCOME 2024 2023 Bank interest 7.029 4.194 EMPLOYEES AND REMUNERATION The staff costs (inclusive of trustees, salaries) comprise." 2024 2023 Wages and salaries 144,737 134,038 TANGIBLE FIXED ASSETS Land and buildings freehold Plant and machinery Motor vehicles Total Cost or Valuation Al 31 December 2024 350.872 26,563 23,000 400,435 Depreciation Al 1 January 2024 Charge for the financial year 28.068 7.017 8,501 5,313 23,000 59,569 12,330 At 31 December 2024 35.085 13.814 23,000 71,899 Net book value At 31 December 2024 315,787 12.749 328,536 Al 31 December 2023 322.804 18.062 340,866 10. INVESTMENTS Other investments Investments Cost At 1 January 2024 Revaluations 100,905 6,567 Al 31 December 2024 107,472 Net book value Al 31 December 2024 107.472 Al 31 December 2023 100,905 12
continued Hill Street Presbyterian Church NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2024 11. DEBTORS 2024 2023 Gift aid lax due 34,139 34,652 34,139 34,652 12. CREDITORS Amounts falling due within one year 2024 2023 Accruals and deferred income 1,640 1,560 13. RESERVES 2024 2023 At the beginning of the year Surplus for the financial year 1,123.373 101.354 1,033,034 90,339 Al the end of the year 1,224,727 1.123,373 14. FUNDS 14.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestricted Restricted Funds Funds Total Funds Al 1 January 2023 Movement during the financia5 year 555,268 67.949 477,766 22.390 1,033,034 90,339 At 31 Oecember 2023 Movement during the financial year 623.217 81.977 500,156 19,377 1,123,373 101,354 At 31 December 2024 705.194 519,533 1,224.727 14.2 ANALYSIS OF MOVEMENTS ON FUNDS 8alan¢e l January 2024 Income Expenditure Transfers Balance between 31 December funds 2024 Restrlcted funds Incoming Resources Resources Expended 1.075.129 1574.973) 140,122 {5381 11.776 108,431 1,203,475 1683,9421 500,156 139,584 120,207 519,533 Unrestricted funds Incoming Resources Resources Expended Unreslricled General 1.686.623 (1.058.806} {4,600) 300,935 (9,896} 228,854 1,997,454 11,287,660> 14,600) 623,217 300.935 1218.9581 705,194 Total funds 1,123,373 440.519 339.165 1,224,727 15. TRUSTEES. REMUNERATION 2024 2023 Remuneration 70,114 62,459 13
continued Hill Street Presbyterian Church NOTES TO THE FINANCIAL STATEMENTS for the finan¢Eal year ended 31 December 2024 16. POST-BALANCE SHEET EVENTS There have been no significant events affecbng Ihe Charity since the firsancial year-end. 14
HILL STREET PRESBYfERIAN CHURCH SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 15
Hill Street Presbyterian Church SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS Operating Statement for the financi81 year ended 31 December 2024 2024 2023 Income Recorded Giving Tax recorded on gift aid Loose collection Gifts and donations other income Activities to generate income Investment income 298,086 48,321 13.994 7.641 49,024 5.814 10,610 292,126 51,017 11,585 12,527 29,322 2,643 1,352 433.490 400,572 Expenses Wages and salaries (including trustees. remuneration) Central Ministry Fund Presbytery Fees Grants to misions and charities 144.737 17,638 3.061 67.275 21.448 21,095 1.108 27.223 4,167 3,770 2,868 1.880 718 9.847 12,330 134,038 18,206 2,463 68,530 13,678 15,539 810 21,476 4,159 3,778 1,847 1,850 674 10,449 16,930 Worship and fellowship Cleaning Repairs and maintenance Printing. postage and slalionery Computer costs Motor expenses Accountancy Bank charges Subsistence Depreciation 339.165 314,427 Miscellaneous income Bank interest 7.029 4,194 Net surplus 101.354 90,339 The supplementary infonnalion does not form part of the finanual statements 16