Raloo Presbyterian Church a congregation of the Presbyterian Church in Ireland Financial Statements For the year ended 31st December 2024 Registered with the Charity Commission for Northern Ireland - NIC 104916
RALOO PRESBYfERSAN CHURCH A Congregation of The Presbyterlan Church In Ireland RECEIPTS AND PAYMENTS STATEMENT For the year ended 31 December 2024 Recelpts: Donations and legacies Charitable activities other trading actlvlties Investments Other Income 65,615 17,701 14,267 250 680 3,247 83,316 14,267 17,108 1,120 3,247 72,968 21,122 12,587 727 3,814 16,858 440 Total 82,913 36,145 119,058 111,218 Payments.. Raising fund5 Charitable activities Other -638 -58,713 -226 -638 -85,677 -260 -623 -77,205 -271 -26,964 -34 Sub- Total -59,577 -26,998 -86,575 -78,099 Asset & Investment Purchases -26,058 Total -59,577 -26,998 -86,575 -104,157 Net Recelpts/ (payments) 23,336 9,147 32,483 7,061 Transfers between funds Net movement In funds Reconciliation of funds: Total funds brought forward 23,336 9,147 32,483 7,061 114,418 97,962 212,380 205,319 Total funds carried forward 14 137,754 107,109 244,863 212,380 12
RALOO PRESBYfERIAN CHURCH A Congregatlon of The Presbyterlan Church In Ireland STATEMENT OF ASSETS AND LIABILITIES As at 31 December 2024 Unrestrlcted Funds Restrlcted Endowment Funds Funds Total 2024 Total 2023 Funds Reconclllatlon Bank and Cash at start of year Net movement in funds 114,418 23,336 97,962 9,147 212,380 32,483 205,319 7,061 Bank and Cash at end of year 137,754 107,109 244,863 212,380 Bank & Cash Balances Bank Current Account5 Cash in Hand 244,878 216 244,878 Other Assets Fixed Assets- Note 12 869,817 869,817 Approved by the Kirk Sessi eeting on AJ4A( Ui.In and slgned on its behalf by Rev Andrew Watson Geo Brlde Chalr/Moderator & Vacancy Convenor Clerk of Session at Raloo Presbyterian Church Date: 1114 lio2 Date: IzILtr I 13
RALOO PRESBYfERIAN CHURCH A Congregatlon of The Presbyterlan Church In Ireland NOTES TO THE ACCOUNTS 31 December 2024 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 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 unrestrlcted Income funds depending upon the purpose for which the endowment was established In the flrst place, Restricted funds comprise lal income from endowments whlch Is to be expended only on the restrlcted purposes intended by the donor and Ibl revenue donatlons or grants for a specific congregational actlvlty 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 basls. Unrestrlcted funds are Income funds whlch are to be Spent on the congregatlon's general purposes. Designated funds are general funds set aside by the congregation for use in the future. 14
RALOO PRESBYTERIAN CHURCH A Congregation of The Presbyterlan Church In Ireland NOTES TO THE ACCOUNTS 31 December 2024 2. DONATIONS AND LEGACIES Recorded glving: Loose collections Donations and gifts Glft Ald Legacies and bequest 153 55,100 10,362 153 70,193 12,970 204 72,764 15,093 2,608 65,615 17,701 83,316 72,968 3. CHARITABLE ACTIVITIES Fundraislng Income from charitable activitie5 Grave fees 1,045 6,372 6,850 1,045 6,372 6,850 2,179 5,168 13,775 14,267 14,267 21,122 15
RALOO PRESBYTERIAN CHURCH A Congregatlon of The Presbyterlan Church In Ireland NOTES TO THE ACCOUNTS 31 December 2024 4. OTHER TRADING ACTIVITIES Letting of church hall Magheramorne Shared Expenses Manse rent 250 250 7,645 9,213 1,200 5,687 5,700 7,645 9,213 16,858 250 17,108 12,587 5. INVESTMENT INCOME Deposit Interest 440 680 1,120 727 440 680 1,120 727 16
RALOO PRESBYfERIAN CHURCH A Congregatlon of The Presbyterlan Church in Ireland NOTES TO THE ACCOUNTS 31 December 2024 OTHER INCOME Sundry Insurance Claim Grants 3,247 3,247 3,800 3,247 3,247 3,814 RAISING FUNDS FWO envelopes -638 -638 -623 -638 -638 -623 17
RALOO PRESBYfERIAN CHURCH A Congregatlon of The Presbyterlan Church In Ireland NOTES TO THE ACCOUNTS 31 December 2024 CHARITABLE ACTIVITIES General Assembly assessments Presbytery fees Ministry and support staff costs Con8regatlonal running expenses Donations to misslons and charltles Governance costs -8,352 -468 -27,710 -21,368 -95 -720 -8,352 -468 -27,710 -38,993 -9,434 -720 -6,567 -453 -22,318 -33,248 -13,947 -672 -17,625 -9,339 -58,713 -26,964 -85,677 77,205 OTHER EXPENDITURE Bank Fees & Loan Interest Other -226 -34 -260 -271 -226 -34 -260 -271 18
RALOO PRESBYTERIAN CHURCH A Congregatlon of The Presbyterlan Church In Ireland NOTES TO THE ACCOUNTS 31 December 2024 io. EMPLOYEES Wages and salaries Social security costs Penslon contributlons 6,645 6,625 6,645 6,625 Number of Employees The average number of employees, including the minister of the congregation, during the year was: 2024 2023 No Average number of employees There were no employees in receipt of employee benefits in excess of £60,000. 19
RALOO PRESBYfERIAN CHURCH A Congregatlon of The Presbyterlan Church In Ireland NOTES TO THE ACCOUNTS 31 December 2024 ii. PENSION COSTS The minlster of the congregation is a member of the Presbyterlan Church in Ireland Pension Scheme (20091. This Is a scheme operated by the Presbyterian Church in Ireland, a separate register charity. The congregatlon 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 sn Ireland Pension Scheme120091 is a funded Scheme of the defined benefit type, provldlng defined beneflts based on career average revalued salary. The Scheme has assets held in a separately administered fund managed by a board of trustees. The Presbyterlan Church and the Scheme Trustees have agreed a funding plan to ensure the Scheme Is sufficient5y funded to meet current and future obligatlons. A formal schedule of contributions was drawn up on 25 November 2015 whereby the Presbyterian Church agreed to pay from 31 December 2015 contrlbutions of 24% of pensionable salarles to cover the accrual of benefits for future service, expenses, the cost of Insurlng death in service benefits and fundlng the scheme deficit. The contributions made by the congregatlon durlng the year were 2024 2023 Contrlbutions As the congregation does not have any other employees, it does not have a pension scheme. 20
RALOO PRESBYTERIAN CHURCH A Congregatlon of The Presbyterlan Church in Ireland NOTES TO THE ACCOUNTS 31 December 2024 12. TANGIBLE FIXED ASSETS Cost or valuation At start of year Additions Disposals 859,942 42,926 899,868 At end of year 856,942 42,926 899,868 Depreclatlon At start of year Provision for year Disposals 25,758 4,293 25,758 4,293 At end of year 30,051 30,051 Net Book Value At start of year 856,942 17,168 874,110 At end of year 856,942 12,875 869,817 21
RALOO PRESBYfERIAN CHURCH A Congregatlon of The Presbyterlan Church In Ireland NOTES TO THE ACCOUNTS 31 December 2024 13. CASH AT BANK AND IN HAND 2024 2023 Danske Bank current accounts Ulster Bank current accounts First Trust Bank current accounts Cash in hand 243,998 649 211,445 659 216 276 244,863 212,380 14. FUND BALANCES AND RECONCILIATION OF FUNDS Balance at start Balance At end Income Ex enditure Transfer Unrestrlcted Funds General Fund 114,418 82,913 -59,577 137,754 Restrlcted Funds Building Fund Repalr Fund Misslons & Charlties United Appeal Graveyard BB GB Bowling Club pw Toddler Group Youth Group Youth Fellowship 55,971 10,495 -2,655 500 64,311 4,780 2,360 5,939 7,328 2,281 4,779 160 1,966 583 -3,236 5,939 -5,234 -2,786 4,605 3,904 24,911 2,035 7,752 677 518 918 297 103 27,005 1,530 7,426 837 614 828 297 357 -500 -1,870 -673 254 97,962 36,145 -26,9998 107,109 Endowments Legacles and Bequests TOTAL 212,380 119,058 -86,575 244,863 22
RALOO PRESBYfERIAN CHURCH A Congregation of The Presbyterlan Church In Ireland NOTES TO THE ACCOUNTS 31 December 2024 15. RELATED PARTY TRANSACTION During the year the congregatlon contrlbuted the following amounts to Funds of the General Assembly of the Presbyterian Church in Ireland, a separate charity. £8,352 £5,939 for congregational assessments towards the United appeal There were no other related party transactions. 23