WHITEHEAD PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church In Ireland STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the year ended 31 December 2024 Income and endowments from: Donations and legacies Charitable activities Other trading activities Investments Other 63,380 26,083 3,646 3,612 9,792 89,463 3,646 3,612 10,378 97,764 4,628 3,986 10,292 273 314 Total 63,653 43,133 314 107,099 116,670 Expenditure on: Raising Funds Charitable activities Other 369 48,267 369 73,971 436 87,313 25,704 Total 25,704 48,636 74,340 87,749 Net income / (expenditure) Transfers between funds Net movement of funds 37,949 7,708 30,241 5,504 8,021 2,518 314 314 32,758 28,921 32,758 28,921 Reconciliation of funds: Total funds brought forward Total funds carried forward 10 10 81,571 111,812 77,818 80,335 159,389 192,148 130,468 159,389 Page1 of5
STATEMENT OF ASSETS AND LIABILITIES As at 31 December 2024 1. Fixed Assets The Congregation owns Church premises situated at 8 King's Road, Whitehead, Carrickfergus, BT38 9PU and the associated fixtures and fittings and a Manse situated at 70 Riverforde, Whitehead, Carrickfergus, BT38 9TS These have an insurance value of £ 6,647,425 2. Investments The Congregation has the following investments. Amounts are shown at market valuation. 2024 13,259 2023 12,661 General Investment Fund Property Other Investments 13,259 12,661 3. Amounts owed At the end of the year the following amounts were owed to the congregation. 2024 4,197 2023 2,000 Gift Aid Other significant items 4,197 2,000 4. Cash and bank balances 2024 2023 Deposit Accounts Current Accounts Cash Floats 192,148 159,389 192,148 159,389 5. Amounts owed 2024 2023 Loans Others significant items Approved by the Kirk Session at a meeting on i £? and signed on its behalf by [Name] [Date] IJ, ui [Name] [Date] Iq, 7926 Page2of5
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 provision in The Charities Accounts and Reports Regulations (Northern Ireland) 2015, to prepare its 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 donation 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 Recorded giving Loose collections Donations and gifts Gift Aid Legacies and bequest 52,971 853 20,450 73,421 853 1,388 13,802 76,857 1,779 972 18,156 1,388 4,245 9,557 63,380 26,083 89,463 97,764 3. CHARITABLE ACTIVITIES Income from charitable activities Fees from weddings and funerals Grants 3,646 3,646 3,428 1,200 4,628 3,646 3,646 4. OTHER TRADING ACTIVITIES Fundraising events Letting of premises Trading income 292 3,320 292 3,320 411 3,575 3,612 3,612 3,986 5. INVESTMENTS Deposit interest General Investment Fund Property rents Other investment income 273 172 444 314 9,620 366 247 9,679 314 9,620 273 9,792 314 10,378 10,292 Page3of5
NOTES TO THE ACCOUNTS 31 December 2024 6. OTHER INCOME PrOedS on sale of fixed assets and investments Insuran claims Loans received Other income 7. RAISING FUNDS WFO envelopes Fundraising events 369 369 436 369 369 436 8. CHARITABLE ACTIVITIES General Assembly Assessments Presbytery Fees Ministry and support staff costs Congregational running expenses Donations to Missions and Charities Governance costs 6,346 819 10,526 8,013 6,346 819 15,019 37,534 12,218 2,034 73,971 6,366 743 34,489 26,983 16,828 1,903 87,312 4,493 29,521 12,218 2,034 48,267 25,704 9. OTHER EXPENDITURE Investment properties expenses Other 10. FUND BALANCES 2024 2023 (i) Unrestricted Funds General Fund Cash reserve 111,812 111,812 81,571 81,571 (li) Restricted Funds Property l Building fund Manse Fund United Appeal fund General Missions fund Benevolent Fund Restricted Congregational funds Organisations Funds 42,994 17,037 73 2,776 1,236 5,939 10,425 80,335 48,243 10,308 375 2,405 1,097 5,528 9,860 77,818 (iii) Endowment Funds General Investment Fund 13,259 13,259 12,661 12,661 Page4of5
NOTES TO THE ACCOUNTS 31 December 2024 10. FUND BALANCES (iv) Reconciliation of movement of funds Balance at start Net Inc. I Exp. Income Expend. Balance at end Transfer Unrestricted Funds General Fund Cash reserve 63,653 25,704 37,949 37,949 30,241 7,708 81,571 81,571 111,812 111,812 63,653 25,704 37,949 Restricted Funds Property l Building fund Manse Fund Benevolent Fund United Appeal fund General Missions fund Restricted Congregational funds Organisations Funds 48,243 10,308 1,097 375 2,405 5,528 9,860 77,818 16,974 9,620 19 5,752 5,609 1,827 3,332 43,133 22,723 2,891 5,749 6,729 19 448 409 6,588 943 5,504 500 42,994 17,037 1,236 73 2,776 5,939 10,425 80,335 120 6,200 6,018 8,415 2,389 48,636 780 7,000 378 8,021 Endowment Funds General Investment Fund 314 314 314 314 314 314 Total 159,389 107,099 74,340 32,758 192,148 Page5of5