FINANCIAL REPORT
INDEPENDENT EXAMINERS REPORT
TO THE TRUSTEES OF
CAIRNCASTLE PRESBYTERIAN CHURCH
We report on the accounts of Cairncastle Presbyterian Church for the year ended 31[st] December 2024, which are set out on pages 12 to 16.
Respective responsibilities of charity trustees and examiner
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland) 2008.
It is our responsibility to:
Examine the accounts under section 65 of the Charities Act
Follow the procedures laid down in the general Directions given by the Commission under Section 65 (9) (b) of the Charities Act
State whether particular matters have come to our attention.
Basis of independent examiner's report
We have examined your charity accounts as required under section 65 of the Charities Act and our examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act.
Our examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts and seeking explanations from you as charity trustees concerning any such matters.
Our role is to state whether any material matters have come to our attention giving me cause to believe:
-
The accounting records were not kept in accordance with section 63 of the Charities Act.
-
The accounts do not accord with those accounting records.
-
That the accounts do not comply with the accounting requirements of the Charities Act.
-
That there is further information needed for a proper understanding of the accounts to be reached.
Independent examiner's statement
We have completed our examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, we have found no matters that require drawing to your attention.
Name: MBS Chartered Accountants
Relevant Professional body: Institute of Chartered Accountants Ireland
3 High Street Address: LARNE BT40 UN
Date: 24.10.2025
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ACCOUNTING POLICIES
The following 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
Charity law requires that monies given to a charity must be accounted for in funds so that donors may be confident that the money they have given for good causes is not misused or wasted but properly used. Accordingly funds are held in three types of fund, unrestricted or general, restricted and endowment.
Unrestricted or general funds are income funds which are to be spent on the congregation's general purposes without any restriction being placed on them by the donor. Some general funds may be set aside by the congregation as Designated funds for use in the future and may be returned to general use.
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 a restricted fund is no longer required but has unspent balances, these may be apportioned to other purposes, provided this is understood by the donors in advance.
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.
INCOMING RESOURCES
(i) Recognition of incoming resources
These are included in the Statement of Financial Activities (SoFA) when:
-
The congregation becomes entitled to the resources;
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The trustees are virtually certain they will receive the resources and
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(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
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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.
(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 give 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.
(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
(xvi) Tangible Fixed Assets
The Church Building and halls are deemed to be heritage assets as defined by the Charities SORP (FRS102). They are not included on the balance sheet as information on the cost or valuation is not available and such information cannot be obtained at a cost commensurate with the benefits to the users of the accounts and to the congregation.
The Manse is recognised at cost/deemed cost, being the estimated fair value of the property at 31/12/2016. No depreciation has been provided on the Manse as the current estimated residual value is not less than its carrying value and the remaining useful life currently exceeds 50 years.
(xvii) Investments
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets including agricultural land are included at trustees' best estimate of market value.
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STATEMENT OF FINANCIAL ACTIVITY
| STATEMENT OF FINANCIAL ACTIVITY | 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: | £ £ £ £ £ |
| Voluntary Donations 1 |
60,965 11,712 72,677 82,386 |
| Charitable activities 2 |
390 390 95 |
| Other trading activities 3 |
2,878 2,878 1,935 |
| Investments 4 |
1,031 1,031 978 |
| Other 5 |
5,884 5,884 6,263 |
| Total | 71,148 11,712 82,860 91,657 |
| Expenditure on: | |
| Raising funds 6 |
490 490 475 |
| Charitable activities 7 |
81,175 12,083 93,258 88,851 |
| Other 8 |
999 999 4,316 |
| Total | 82,664 12,083 94,747 93,642 |
| Net Income/ (expenditure) | -11,516 -371 -11,887 -1,985 |
| Transfers between funds | -4,646 4,646 0 0 |
| Net movement in funds | -16,162 4,275 -11,887 -1,985 |
| Reconciliation of funds: | |
| Total funds brought forward | 94,426 31,956 0 126,382 128,368 |
| Total cash funds carried forward | 78,264 36,231 0 114,495 126,382 |
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Statement of assets and liabilities Year Ended 31 December 2024 Unrestrided Restricted End0nt Funds Funds Funds Total 2024 Total 2023 Fund8 Reconciliation Cash Funds Current Account Designated Fund 78.264 36.231 114,495 30,229 144.724 126.382 30,529 156,911 .300 | Investment Assets General Investment fund NICIFC 10,827 14,650 25,477 10,827 14,650 25,477 10.381 14,181 24,562 Total Funds 170,201 181,473 othor Assets (Unre•trlctod Funds) Llabllltle8 Iunrostrlcted Fund8) Approved by the Kirk sesSn at its ntIng and signed on its behalf by Minister Clerk of Session Date.. 24th May 2025 15
NOTES TO THE ACCOUNTS
31 December 2024
| Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2024 Total funds 2023 |
|
| £ £ £ £ £ |
|
| 1. VOLUNTARY DONATIONS | |
| Recorded giving | 58,307 58,307 56,051 |
| Loose collections | 1,367 11,712 - 13,079 12,573 |
| Donations and gifts | 1,291 1,291 600 |
| Gift Aid | 13,161 |
| 60,965 11,712 0 72,677 82,385 |
|
| 2. CHARITABLE ACTIVITIES | |
| Income from charitable activities | 390 390 95 |
| 390 390 95 |
|
| 3. OTHER TRADING ACTIVITIES | |
| Funds raising | 2,762 2,762 |
| Letting of premises | 116 116 85 |
| Trading income | 0 1,850 |
| 2,878 - - 2,878 1,935 |
|
| 4. INVESTMENT INCOME | |
| Bank | 364 364 365 |
| Deposit interest | 0 410 |
| Dividends | 667 667 203 |
| 1,031 1,031 978 |
|
| 5. OTHER INCOME | |
| Special Appeals & Donations | 4,960 4,960 4,830 |
| Legacies and bequest | 0 |
| Donations from organisations | 924 924 545 |
| Other - encashment | 0 888 |
| 5,884 5,884 6,263 |
|
| Total | |
| 6. RAISING FUNDS | |
| FWO Envelopes | 490 - - 490 500 |
| - - |
|
| 7. CHARITABLE ACTIVITIES | |
| General Assembly assessments | 14,956 - 14,956 14,157 |
| Presbytery fees | 787 - 787 756 |
| Ministry and support staff costs | 53,336 - 53,336 48,572 |
| Running expenses | 11,496 4,185 15,681 19,928 |
| Donations to missions and charities | 7,898 - 7,898 8,396 |
| Governance costs | 600 - 600 600 |
| Other donations | - 0 0 |
| 81,175 12,083 - 93,258 92,409 |
|
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NOTES TO THE ACCOUNTS 31 December 2024
| 8. OTHER EXPENDITURE | |
| Other Expenditure | 999 - - |
| 9. EMPLOYEES | |
| Total Funds 2024 Total funds 2023 |
|
| £ £ |
|
| Wages and salaries inc NIC | 41,635 39,652 |
| Pension contributions | 8,841 8,417 |
| 50,476 48,069 |
|
| Number of Employees |
The average number of employees, including the minister, in the congregation, during the year was:
| 2024 | 2023 | |||||
|---|---|---|---|---|---|---|
| Average number of employees | 1 | 1 | ||||
| There were no employees in receipt of employee benefits in excess of £60,000. | ||||||
| 10. PENSION COSTS | ||||||
The minister of the congregation is a member of the Presbyterian Church in Ireland Pension Scheme (2009), a separate registered charity operated by the Presbyterian Church in Ireland. Pension contributions determined by the Scheme (Code (2023) par 318) and made by the congregation during the year were:
| 2024 | 2023 | ||||||||
| £ | £ | ||||||||
| Contributions | 8,841 | 8,418 | |||||||
| 11. TANGIBLE FIXED ASSETS | |||||||||
| The congregation owns a manse at 5 Cairnhill | Crescent, Ballygally, Larne, Co Antrim, BY40 2QT, with an | ||||||||
| insured value of £304,645 | |||||||||
| 12. INVESTMENTS | |||||||||
| 2024 | 2023 | ||||||||
| £ | £ | ||||||||
| General Investment Fund | 10,828 | 10,381 | |||||||
| NICIFC | 14,650 | 14,181 | |||||||
| Total Investment | 25,478 | 24,562 | |||||||
| 13. CASH AT BANK AND | IN HAND | ||||||||
| 2024 | 2023 | ||||||||
| £ | £ | ||||||||
| Cash in bank and in hand | 144,724 | 156,911 | |||||||
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