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