Joymount Presbyterian Church Statement of Financial Activities For the year ending 31 December 2024
| Notes Income from: Regular direct giving 2 Donations and legacies 3 Other trading activities 4 Investments 5 Organisations 6 Other 7 Total income Expenditure on: Central Church assessments 8 Ministry and support staff 9 , 18 Life and work 10 Grants to missions and charities 11 Property & equipment maintenance 12 Governance 13 Organisations 6 Total expenditure Net income Depreciation on buildings Transfers between funds 22 Net movement in funds Reconciliation of funds: Total funds brought forward 22 Total funds carried forward 22 |
Unrestricted Restricted Total Total funds funds 2024 2023 £ £ £ £ 158,698 38,449 197,147 189,218 4,148 1,550 5,698 8,924 735 - 735 424 1,709 137 1,846 1,205 - 12,716 12,716 15,075 3,995 - 3,995 3,272 |
|---|---|
| 169,285 52,852 222,137 218,118 |
|
| 14,013 - 14,013 15,261 104,254 - 104,254 92,355 28,960 - 28,960 22,746 9,427 18,750 28,177 24,352 23,429 6,603 30,032 51,084 8,009 48 8,057 8,974 - 16,706 16,706 16,530 |
|
| 188,092 42,107 230,199 231,302 |
|
| (18,807) 10,745 (8,062) (13,184) - (8,360) (8,360) (8,360) (1,255) 1,255 - - |
|
| (20,062) 3,640 (16,422) (21,544) 310,190 312,522 622,712 644,256 |
|
| 290,128 316,162 606,290 622,712 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Joymount Presbyterian Church Balance Sheet As at 31 December 2024
| Notes Fixed assets Tangible assets 14 Total fixed assets Current assets Debtors 15 Cash at bank and in hand 16 Total current assets Liabilities Creditors: Amounts falling due 17 within one year Net current assets Total net assets The funds of the charity: Unrestricted income funds 22 Restricted income funds 22 Restricted land & buildings fund 22 Total charity funds |
2024 £ 254,881 254,881 33,201 329,413 362,614 11,205 351,409 606,290 290,128 120,242 195,920 606,290 |
2023 £ 222,366 |
|---|---|---|
| 222,366 | ||
| 29,960 379,642 |
||
| 409,602 | ||
| 9,256 | ||
| 400,346 | ||
| 622,712 | ||
| 310,190 108,242 204,280 |
||
| 622,712 |
The trustees have prepared the financial statements in accordance with The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 for circulation to the members. The notes 1 to 23 form part of these financial statements.
Approved by the trustees on 17 March 2025
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...........................................
Signed: Rev. John Stanbridge
Name: Rev. John Stanbridge, Chair of trustees on behalf of the trustees
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Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2024
1 Accounting policies
The principal accounting policies that have been adopted consistently throughout the year and the prior year are summarised below.
1.1 Basis of preparation
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 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and The Charities (Accounts and Reports) Regulations (Northern Ireland) 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.
Joymount Presbyterian Church meets the definition of a public benefit entity under FRS 102.
1.2 Fund accounting
Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds are primarily from the receipt of Free Will Offerings and loose collections from the congregation.
Restricted funds comprise (a) restricted income funds and (b) restricted land and building fund. These are detailed below.
Restricted income funds are funds which are to be used in accordance with specific restrictions imposed by the donor. Restricted income funds are from the collection of congregational offerings to the Church's property account and for the Presbyterian Church in Ireland's (PCI) various appeals. The income received by the various church organisations is also restricted for use in the respective organisations.
Restricted land and building fund is the fund created on the initial recognition of the land and buildings owned by the church which have not previously been recorded. The only movement on this fund each year is the expensing of the depreciation on land and buildings. Further details can be found at note 14.
1.3 Income recognition
All income is recognised once the charity has entitlement to the income, it is virtually certain that the income will be received and the amount of income receivable can be measured reliably.
Where income received has related expenditure (as with fundraising income) the income and related expenditure are reported gross in the Statement of Financial Activities.
Regular direct giving
Regular direct giving receipts relate to offerings received from the congregation and are recognised on receipt when the church has unconditional entitlement to the income.
Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2024
1 Accounting policies (continued)
Donation and legacies
Donations and legacies are recognised on receipt unless otherwise notified of a settlement date. The nature of the charity as a church means that donations do not usually have conditions attached which may result in the deferral of recognising income.
Tax reclaims on donations and gifts
Income from Gift Aid (included under Regular direct giving) is included in the Statement of Financial Activities at the same time as the donation or gift to which they relate.
Investments
Interest on funds held on deposit is recognised when receivable and the amount can be measured reliably by the charity.
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 use by the charity are included in the Statement of Financial Activities as income when receivable.
Donated services and facilities
These are only included in income (with the equivalent amount in expenditure) where the benefit to the church is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the church of the service or facility received.
Volunteer help
The value of any voluntary help received is not included in the financial statements but is described in the trustees' annual report.
1.4 Expenditure and liabilities recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis.
1.5 Irrecoverable VAT
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
1.6 Tangible fixed assets
Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Assets for use by the church are capitalised if they can be used for more than one year and cost at least £2,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation is provided on all tangible fixed assets other than land at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:
Buildings: 50 years Fixtures and fittings: 10 years
Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2024
1 Accounting policies (continued)
1.7 Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount.
1.8 Employee benefits
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 church 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 the 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 accrual of benefits for future service, expenses, the cost of insuring death in service benefits and funding the scheme deficit.
The church 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 by the church during the year.
The charity recognises a cost equal to their contribution payable for the period in their statement of financial activities.
- 2 Regular direct giving
| Recorded giving Donations - property Gift Aid Loose collections United Appeal World Development Appeal Recorded giving Donations - property Gift Aid Loose collections United Appeal World Development Appeal |
Unrestricted Restricted 2024 £ £ £ 128,849 14,641 143,490 - 600 600 24,844 7,074 31,918 5,005 - 5,005 - 12,884 12,884 - 3,250 3,250 |
|---|---|
| 158,698 38,449 197,147 |
|
| Unrestricted Restricted 2023 £ £ £ 128,433 12,925 141,358 - 64 64 22,600 5,418 28,018 4,783 - 4,783 - 12,571 12,571 - 2,424 2,424 |
|
| 155,816 33,402 189,218 |
Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2024
3 Donations and legacies
| Donations and legacies | |
|---|---|
| Gift days, special collections and donations Legacies and bequests Electricity grants |
Unrestricted Restricted 2024 2023 £ £ £ £ 3,925 - 3,925 2,169 223 1,550 1,773 5,555 - - - 1,200 |
| 4,148 1,550 5,698 8,924 |
During the year the church was grateful to receive bequests amounting to £1,773. The donor imposed restrictions in respect of £1,550 of the bequest. The remainder is accrued interest earned prior to receiving the request on which there are no restrictions, therefore they are held as unrestricted reserves for use at the trustees' discretion.
Donations and legacies income for 2023 was fully unrestricted.
4 Other trading activities
| Other trading activities | |
|---|---|
| Income from Church events Sale of books, etc. |
Unrestricted Restricted 2024 2023 £ £ £ £ - - - - 735 - 735 424 |
| 735 - 735 424 |
Other trading activities income for 2023 was fully unrestricted.
5 Investment income
| Investment income | |
|---|---|
| Bank & Building Society interest Other investment income Bank & Building Society interest Other investment income |
Unrestricted Restricted 2024 £ £ £ 566 137 703 1,143 - 1,143 |
| 1,709 137 1,846 |
|
| Unrestricted Restricted 2023 £ £ £ 691 23 714 491 - 491 |
|
| 1,182 23 1,205 |
Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2024
6 Organisations' income and expenditure
| Organisations' income and expenditure | |
|---|---|
| Organisations 2024 Thursday Sale Indoor Bowling Club PW Boys' Brigade Girls' Brigade Tots & Co. Friendship Club Coffee at Bus Stop |
Fund Surplus / Income Expenditure transfers (Deficit) £ £ £ £ - 25 (8,557) (8,582) 395 529 - (134) 4,266 4,281 - (15) 1,200 2,723 1,255 (268) 3,921 4,021 - (100) 1,268 3,397 - (2,129) 1,508 1,535 - (27) 158 195 - (37) |
| 12,716 16,706 (7,302) (11,292) |
The transfers to and from the organisations listed above are detailed at note 22.
| Organisations 2023 Thursday Sale Indoor Bowling Club PW Boys' Brigade Girls' Brigade Tots & Co. Friendship Club Coffee at Bus Stop |
Surplus / Income Expenditure (Deficit) £ £ £ - 2,002 (2,002) 392 419 (27) 4,516 4,134 382 512 332 180 4,558 5,176 (618) 3,315 2,749 566 1,403 1,457 (54) 379 261 118 |
|---|---|
| 15,075 16,530 (1,455) |
7 Other income
| Moderator's Appeal Miscellaneous income |
Unrestricted Restricted 2024 2023 £ £ £ £ - - - - 3,995 - 3,995 3,272 |
|---|---|
| 3,995 - 3,995 3,272 |
Other income for 2023 was fully unrestricted.
Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2024
8 Central Church assessments
| Central Ministry Fund Retired Ministers' Fund Widows of Ministers' Fund Prolonged Disability Fund Incidental Fund Ministerial Development Fund Assembly Buildings' External Work Sick Supply Fund Students' Bursary Fund |
Unrestricted Restricted 2024 2023 £ £ £ £ 4,635 - 4,635 4,853 1,298 - 1,298 - 834 - 834 992 649 - 649 992 3,336 - 3,336 3,970 92 - 92 441 1,668 - 1,668 2,205 18 - 18 44 1,483 - 1,483 1,764 |
|---|---|
| 14,013 - 14,013 15,261 |
Central Church assessments expenditure is unrestricted each year therefore no additional breakdown of the prior year's figures is required.
9 Ministry and support staff
| Ministry and support staff | |
|---|---|
| Minister's stipend, pension and expenses Other Ministry and Support Staff |
Unrestricted Restricted 2024 2023 £ £ £ £ 69,040 - 69,040 59,821 35,214 - 35,214 32,534 |
| 104,254 - 104,254 92,355 |
Ministry and support staff costs are unrestricted each year therefore no additional breakdown of the prior year's figures is required.
10 Life and work
| Worship and Fellowship Discipleship and Ministry Mission and Outreach |
Unrestricted Restricted 2024 2023 £ £ £ £ 19,820 - 19,820 15,276 3,919 - 3,919 3,987 5,221 - 5,221 3,483 |
|---|---|
| 28,960 - 28,960 22,746 |
Life and work costs are unrestricted each year therefore no additional breakdown of the prior year's figures is required.
11 Grants to missions and charities
| United Appeal World Development Appeal PCI Student Bursary fund Other missions and charities |
Unrestricted Restricted 2024 £ £ £ - 15,397 15,397 - 3,353 3,353 - - - 9,427 - 9,427 |
|---|---|
| 9,427 18,750 28,177 |
Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2024
11 Grants to missions and charities cont'd
| Grants to missions and charities cont'd | |
|---|---|
| United Appeal World Development Appeal PCI Moderator's Appeal Other missions and charities |
Unrestricted Restricted 2023 £ £ £ - 14,920 14,920 - 3,148 3,148 1,100 - 1,100 5,184 - 5,184 |
| 6,284 18,068 24,352 |
12 Property and equipment maintenance
| Utilities Repairs and maintenance Insurances Leasing Depreciation Utilities Repairs and maintenance Insurances Leasing Depreciation Governance Other professional services Independent Examination Advertising, printing, etc. Sundry expenses Bank interest and charges Other professional services Independent Examination Advertising, printing, etc. Sundry expenses Bank interest and charges |
Unrestricted Restricted 2024 £ £ £ 16,187 - 16,187 1,847 4,503 6,350 3,264 - 3,264 947 - 947 1,184 2,100 3,284 |
|---|---|
| 23,429 6,603 30,032 |
|
| Unrestricted Restricted 2023 £ £ £ 13,280 - 13,280 2,515 27,743 30,258 4,168 - 4,168 976 - 976 1,184 1,218 2,402 |
|
| 22,123 28,961 51,084 |
|
| Unrestricted Restricted 2024 £ £ £ 800 - 800 250 - 250 2,015 - 2,015 4,614 - 4,614 330 48 378 |
|
| 8,009 48 8,057 |
|
| Unrestricted Restricted 2023 £ £ £ 800 - 800 250 - 250 3,300 - 3,300 4,178 - 4,178 446 - 446 |
|
| 8,974 - 8,974 |
13 Governance
Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2024
14 Fixed Assets
| Fixed Assets | |
|---|---|
| Cost or valuation At 1 January 2024 Additions At 31 December 2024 Depreciation At 1 January 2024 Charge for the year At 31 December 2024 Net book value At 1 January 2024 At 31 December 2024 |
Fixtures & Buildings Fittings Total £ £ £ 423,040 53,873 476,913 44,159 - 44,159 |
| 467,199 53,873 521,072 |
|
| 214,023 40,524 254,547 9,344 2,300 11,644 |
|
| 223,367 42,824 266,191 |
|
| 209,017 13,349 222,366 |
|
| 243,832 11,049 254,881 |
Buildings have been recognised at the date of transition to FRS 102 and the Charities SORP (FRS 102). The buildings comprise the Church building, church halls, church office and the manse and their contents. The buildings which were built or purchased within the past 50 years have been recorded on a historical cost basis with associated accumulated depreciation based on a useful economic life of 50 years. Buildings that are older than 50 years are considered to be fully depreciated.
15 Debtors
| Accrued interest income Accrued income Gift Aid to be claimed Other debtors Prepayments |
2024 2023 £ £ 92 49 250 - 29,252 26,758 395 531 3,212 2,622 |
|---|---|
| 33,201 29,960 |
16 Cash at bank and in hand
| Cash at bank and in hand | |
|---|---|
| No. 1 account Property account No. 5 account Investment account Organisations' accounts balances |
2024 2023 £ £ 133,973 155,921 26,560 48,590 80,464 76,522 82,130 81,031 6,286 17,578 |
| 329,413 379,642 |
Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2024
17 Creditors
| Creditors | |
|---|---|
| United Appeal accrual Other PCI accrued donations Taxation and social security costs Other accrued expenses |
2024 2023 £ £ 5,697 3,920 3,353 3,148 - 751 2,155 1,437 |
| 11,205 9,256 |
18 Staff costs and employee benefits
| Staff costs and employee benefits | |
|---|---|
| Gross salaries and wages Social security costs Minister pension costs Staff pension costs Ministry expenses |
2024 2023 £ £ 85,945 76,785 - - 10,849 9,410 424 57 7,036 6,103 |
| 104,254 92,355 |
There was one employee who received total employee benefits in excess of £60,000 as detailed below (2023:
The key management personnel of the charity, the Church, comprise the trustees (members of the Kirk Session) and the minister. The total employee benefits of the key management personnel of the Church were £69,040 (2023: £59,821).
19 Staff numbers
The average employee head count for the year was as follows:
| Minister and Assistant Minister Other staff |
2024 2023 £ £ 1 1 4 4 |
|---|---|
| 5 5 |
20 Trustees' expenses and remuneration
There were no trustees who received expenses during the year amounting.
There was one trustees who received remuneration during the year.
Hilary McGavock received gross remuneration amounting to £9,464 (2023: £8,920) for her administrative role in the Church which is separate from her duties as a trustee. This remuneration is as determined and permitted by Kirk Session.
Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2024
21 Related party transactions
Please refer to note 20 for transactions with trustees during the year.
During the year the congregation contributed the following amounts to Funds of the General Assembly of the Presbyterian Church in Ireland, a separate charity:
£14,013 for congregational assessments
£15,397 towards the United Appeal
£3,353 towards the World Development Appeal
£1,200 towards the Presbyterian Children's Society
The congregation contributed £931 towards Presbytery Assessments during the year.
During the year, fees were paid to Madigan Electronics, a business owned by Andrew McKeegan a trustee. These fees were in respect of IT support and equipment maintenance amounting to £12,614 (2023: £10,451).
There were no other related party transactions.
22 Analysis of movement in charitable funds
| Analysis of movement in charitable funds | |
|---|---|
| Unrestricted income funds Restricted income funds Restricted land & buildings fund |
Balance at Fund Balance at 01/01/2024 Income Expenditure transfers 31/12/2024 £ £ £ £ £ 310,190 169,285 (188,092) (1,255) 290,128 108,242 52,852 (42,107) 1,255 120,242 204,280 - (8,360) - 195,920 |
| 622,712 222,137 (238,559) - 606,290 |
During the year, a total of £8,557 was transferred from the Thursday Sale account to the Property account - both of these funds are restricted and therefore the transfer cannot be seen on the face of the accounts. The trustees have considered it appropriate to recognise this transfer therefore leaving the cash in the property bank account for future restricted property use.
During the year, Kirk Session transferred £1,255 to the Boys' Brigade to assist in covering costs for the year.
| Unrestricted income funds Restricted income funds Restricted land & buildings fund |
Balance at Fund Balance at 01/01/2023 Income Expenditure transfers 31/12/2023 £ £ £ £ £ 312,999 169,618 (167,743) (4,684) 310,190 118,617 48,500 (63,559) 4,684 108,242 212,640 - (8,360) - 204,280 |
|---|---|
| 644,256 218,118 (239,662) - 622,712 |
Details of each fund can be found at note 1.2.
Joymount Presbyterian Church Notes to the Financial Statements For the year ended 31 December 2024
23 Analysis of net assets between funds
| Analysis of net assets between funds | |
|---|---|
| Tangible fixed assets Cash at bank and in hand Other net current assets/(liabilities) Creditors of more than one year Tangible fixed assets Cash at bank and in hand Other net current assets/(liabilities) Creditors of more than one year |
Unrestricted Restricted Restricted 2024 funds funds L&B funds Total £ £ £ £ 5,873 53,088 195,920 254,881 260,533 68,880 - 329,413 23,722 (1,726) - 21,996 - - - - |
| 290,128 120,242 195,920 606,290 |
|
| Unrestricted Restricted Restricted 2023 funds funds L&B funds Total £ £ £ £ 7,057 11,029 204,280 222,366 280,778 98,863 - 379,641 22,355 (1,650) - 20,705 - - - - |
|
| 310,190 108,242 204,280 622,712 |