an FIRST PRESBYfERIAN CHURCH PORTADOWN a Congregation of The Presbyterian Church in Ireland First Presbyterian Church Portadown a Congregation of the Presbyterian Church in Ireland Trustees, Annual Report and Financial Statements for the year ended 31 December 2024 Reglstered with the Charity Commission for Northern Ireland NIC104957
an FIRST PRESBYfERIAN CHURCH PORTADOWN a Congregation of The Presbyterian Church in Ireland TRUSTEES, ANNUAL REPORT The trustees present their annual report and financial statements for the year ended 31 December 2024 including a balance sheet as at that date. REFERENCE AND ADMINISTRATIVE DETAILS First Presbyterian Church Portadown a Congregation of the Presbyterian Church in Ireland 3 Lynden Gate Park, Portadown, Co Armagh, BT63 5YJ Registered Charity in Northern Ireland INIC104957) CHARITY TRUSTEES The charity trustees who served during the year or who were trustees at the date of this report were: _ Rev Robin Brown Dr Gilbert Carson Mr Brian Dawson Mr John Finlay Mr Gareth Greer Mr David Hunter Mr Robert Irwin Mr Mark Kent (appointed 18 June 2024) Mr Nigel Mcclelland Mrjames McKittrick Mr Phillip Patterson Mr George Russell {retired 30 April 2024) Mr Noel Brownlee Mrjohn Crozier Mr Robert Dowey Mr Samuel Gamble Mr Eric Hammond Mr Stephen Hunter MrGary Kennedy Mr W J Mccavery Mr Brian McGuire Mr Mark Neale Mr Williarn Ruddell Mrjon Hunter {appointed 13 April 2025) PRINCIPAL OFFICE BEARERS Minister Clerk of Session Church Secretary Treasurer Rev Robin Brown Mr Robert Dowey Mrjonathan Graham Mr Nigel Jameson
an FIRST PRESBYfERIAN CHURCH PORTADOWN a Congregation of The Presbyterian Church in Ireland TRUSTEES, ANNUAL REPORT (cont'd) AUDITORS Ruddell & Company Chartered Accountants & Registered Auditors 16 Church Street Dungannon Co Tyrone BT716AB BANKERS Bankof Ireland 13 Market Street Lurgan Co ArrnaEh BT66 6AR
an FIRST PRESBYTERIAN CHURCH PORTADOWN Congregation of The Presbyterian Church in Ireland TRUSTEES, ANNUAL REPORT (cont'd) STRUCTURE AND MANAGEMENT The Kirk Session The charity trustees of the congregation are the member5 of its Kirk Session. Under the congregation's governing document, The Code, the book of the constitution and government of the PresberIan Church in Ireland, the Kirk Session seeks to watch over and promote the spiritual interest of the congregation and of persons not connected with any congregation who are within its bounds. It ensures pastoral care is in place in the congregation and seeks to further the contribution of the church to Christian witne55 and service in the local commu nity. The Kirk Se55ion has delegated to its Congregational Committee the temporal affairs of the congregation including administering all funds and property belonging to the congregation. Members of the Kirk Session are members of the Congregational Committee. The Kirk Session consists of the ordained minister and the ruling elders of the congregation. All members are entitled to propose, speak and exercise equal votes at meetings, except that the Moderator, the minister in active duty in the congregation, has no deliberative role but only a casting vote, Stated meetings of the Kirk Session are held at least twice In each year. To be chosen for the office of the eldership in the congregation a person must be a voting member and a regular attendant on Its ordinances. The selection of those proposed to be called to the office can be either by the congregation or by the Kirk Session. Presbytery of Armagh Under the Presbyterian Church in Ireland form of governance the corporate oversight of a congregation is the responsibility of a Presbytery which superintends generally the spiritual and temporal affairs of the congregations assigned to it by the General Assembly of the Presbyterlan Church in Ireland. First Presbyterian Church Portadown has been a55igned to the Armagh Presbytery of the Presbyterian Church in Ireland. The membership of the Presbytery consists mainly of the active ministers of congregations assigned to it by the General Assembly, minsters who have retired from active duty and an elder appointed by the Kirk Session of each congregation.
an FIRST PRESBYfERIAN CHURCH PORTADOWN a Congregation of The Presbyterian Church in Ireland TRUSTEES, ANNUAL REPORT (cont'd) The General Assembly The General Assembly is the supreme court of the church. representing in one bodythe whole church and actinE as its supreme legislative, administration and judicial authority, in dealing with all matters brought before it. The General Assembly in 2024 was constituted from 10 th th to 12 June for worship and to conduct its business. At the end of business, it is dissolved. The membership of the General Assembly consists mainly of the active ministers of each congregation, retired minsters and a representative elder appointed by the Kirk Session of each congregation. DESCRIPTION AND PURPOSE First Presbyterian Church Portadown is a congregation of the Presbyterian Church in Ireland. The Presbyterian Church in Ireland, as a reformed church within the wider body of Christ is grounded in the scrlptures and exists to love and honour God through faith in His Son and by the power of His Spirit, and to enable her members to play their part in fulfilling God's mission to our world. The congregation's mission purposes are by the grace of God, to help people of all ages become fully devoted followers of Jesus Christ. Our vlsion is, by the grace of God, to be an Inclusive, welcoming community of Chrlst's people of all ages, which: is increasingly characterised by love for God, and love and concern for others; Is committed to the historic Christian gospel as revealed In the Bible; is relevant to people of this time and place. The congregation aims to live out its mission and vision as a famlly of God's people by being,. a covenant cornmunity.. where our relationships are rooted in the promises of God by living faithfully toward him and toward one another; an intergenerational community: where adults intentionallytake the lead to engage with, encourage and nurture younger members to maturity in Christ; an outward looking community: where we want the blessings of God that belong to us in the gospel to become blessings for others beyond the bounds of our community. As a congregation of the Presbyterian Church in Ireland, we believe that the Bible is the supreme authority over all we do, and that the Westminster Confession of Faith, along with the Larger and Shorter Catechisms set out what we understand the Bible teaches on key rnatters of Christian faith and practice.
an FIRST PRESBYfERIAN CHURCH PORTADOWN a Congregation of The Presbyterian Church in Ireland TRUSTEES, ANNUAL REPORT (convd) ACTIVITIES AND OBJECTIVES The congregation meets for worship every Sunday morning and evening and visitors are welcome. The sacrament of the Lord's Supper is observed on several occasions during the year and all those who have made a profession of faith in the Lord Jesus Christ are admitted to the Lord's Supper. The congregation holds regular Bible study meetings and prayer meetings and has a wide range of organisations including Boys, Brigade Chatterbox for mothers and toddlers Choir CLICK {ministry to children each Sunday) Creation Carers Eden Girls Edenderry C,E. Edenderry Fellowship and Luncheon club FP Wheels Club LOFTgroups Presbyterian Women Senior C.E. Fellowship Shine Cafe Youth Bible Class Youth Fellowship ACHIEVEMENTS AND PERFORMANCE Worship and prayer The congregation meets for worship each Sunday at 11:00am and 6:30pm. During the week Bible Study provides an opportunity for members to meet for fellowship, to study the scriptures and for a time of prayer. As well as our regular services during the year we acknowledged God'5 gift of 3 new Ilves at the sacrament of Infant Baptism. We also gave thanks for faithful services and sought to comfort those who had been bereaved during the year. At 31 December 2024 there were 415 communicant members and 488 families connected with the congregation. The average weekly attendance at morning worship is 330 and at evening worship 130. Pastoral care Mernbers of the congregation who are unable to attend church due to sickness or age are visited on a regular basis by the minister, elders or by one of the congregation's pastoral visitors.
an FIRST PRESBYfERIAN CHURCH PORTADOWN a Congregation of The Presbyterian Church in Ireland TRUSTEES, ANNUAL REPORT (cont'd) Mission and outreach At a local level the congregation is pro-active in seeking to be obedient to the congregation's mission statement which is "Passion for Christ, Compassion for People" This mission is delivered through the faithful preaching of God's Word each Lord's Day, pastoral visitation and a varied programme of weekly events and teaching through church organisations and occasional "one off, outreach events. The congregation supports the United Appeal for Mission which is a central fund of the Presbyterian Church in Ireland. Thi5 fund enables congregations to support the wider mission of the denornination and to do mission and outreach on a denominational basis beyond what the congregation could do on its own. The United Appeal fund provides financial support for mission personnel at home and oversea5, assists congregations with the deployment of locally based staff, enables church plantingi provides grant support for the upkeep of church premises, assists with the running costs of Union Theological College, the church's training college for ministry students, and financially supports congregations in the areas of worship, discipleship, global mission, outreach, leadership and pastoral care. presbytery of Armagh The congregation is represented at the regular meetings of Presbytery by our minister and an elder. This provides an Important link between the congregatlon and the wider structures of the church. General Assembly The minister and one of our elders were nominated to attend the meeting of the General Assembly of the Presbyterian Church in Ireland held in Assembly Buildings, Belfast, in June. Organisatlons The church has a Bible Class teaching programme each Sunday morning• and a Youth Fellowship on alternate Sunday evenings after church. During the week there is a Boys, Brigade Company, a new group called Eden Girls, Edenderry C.E. on Saturday night, a Senior Christian Endeavour, a monthly senior citizens, meeting and several prayer meeting5. These organisations cover the full range of age5 and include Bible teaching and a time of prayer. Each Wednesday our main hall is used by our mothers, and toddlers, group. Many children and their carer5 are regular attenders.
Presbyter an FIRST PRESBYfERIAN CHURCH PORTADOWN a Congregation of The Presbyterian Church in Ireland TRUSTEES, ANNUAL REPORT (cont'd) Volunteers The trustees wish to acknowledge their deep appreciation of those who give freely of their time by serving on committees and helping with orEanisations and other church activities. PUBLIC BENEFIT STATEMENT The Presbyterian Church in Ireland meets the public benefit requirement by providing benefit to its members and the general public by maklng known the Christian gospel of the Lord Jesus Christ through the advancement of religion. The direct benefits which flow from the purposes of the church Include the gaining of an understanding in Christian beliefs as set out In the Bible and in the church's subordinate Standards (the Westminster Confession of Faith and the Shorter and Larger Catechisms) leading to spiritual and moral development and opportunities for response to Bible teaching. In turn, this framework leads to practical expressions of Christian beliefs and standards in the local cornmunity such as through the care of those in need {including the slck, disabled and bereaved). Generally, the above benefits are delivered locally by congregations and their members, or are facilitated through Presbyteries or are organised and delivered centrally. Local delivery is facilitated by central resources in almost all cases. Public access is made known through the use of noticeboards, printed material, press advertisement, websites, and social media or in other ways. The benefits are demonstrated through regular evaluation of the services and informal and ad-hoc feedback from members, their families, and member5 of the public. The purpose does not lead to harm. The only private benefit flowing from our purpose is related to ministers, missionarie5, deaconesses, Irish Mission workers and lay agents who receive benefits as a result of their holding office or employment. However, this 15 incidental and necessary in order to further our charitable purpose. There are no other private benefits. The beneficiaries of this purpose are members, their families, other individuals that the Presbyterian Church in Ireland is in direct and indirect contact with, the community in which pastoral Services are provided and other communities throughout Northern Ireland, the Republic of Ireland, and worldwide which benefit from our engagement with and support for both Christian and othersecularorganisations, charities and individual members of the public. The Kirk Session has had regard to the Charity Commission's public benefit requirement statutory guidance.
an FIRST PRESBYfERIAN CHURCH PORTADOWN a Congregation of The Presbyterian Church in Ireland TRUSTEES, ANNUAL REPORT (cont'd) FINANCIAL REVIEW The principal source of income of First Presbyterian Church Portadown continues to be from donations and plate collections. The principal expense of First Presbyterian Church Portadown is in respect of payments regarding congregational running expenses and donations to missions and cha rities. First Presbyterian Church Portadown had a net gain of £54,579.13 for the year ended 31 December 2024. First Presbyterian Church Portadown continues to be in a healthy flnancial state as at 31 December 2024 with total cash funds of £520,671.08. First Presbyterian Church Portadown aims to retain sufficient reserve5 to meet its expected future expenditure requirements as well as potential future capital project5. RESPONSIBILITIES IN RESPECT OF THE FINANCIAL STATEMENTS The trustees are responsible for preparing the annual report and the financial statements in accordance wlth applicable law and United Kingdom Generally Accepted Accounting Practice. The trustees are required to prepare financial statements for each financlal year which give a true and fair view of the state of affairs of the congregation and the financial activities for that year. In preparing the financial statements the trustees are required to: select suitable accountlng policies and then apply them consistently make judgements and estimates that are reasonable and prudent prepare the financial statements on the going concern basis unless it is inappropriate to presume that the funds will continue in operation. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the funds, transactions and disclose with reasonable accuracy at any time the financial position of the congregation and enable them to ensure that the financial statements comply with the Statement of Recommended Practice "Accounting and Reporting by Charities (l January 2015)" They are a150 responsible for safeguarding the assets of the congregation and hence fortaking reasonable steps forthe prevention and detection of fraud a nd other i rregu laritles.
an FIRST PRESBYfERIAN CHURCH PORTADOWN a Congregation of The Presbyterian Church in Ireland TRUSTEES, ANNUAL REPORT (cont'd) GOING CONCERN The activities of the congregation are dependent on ongoing contribution5 from its member5. The trustees are of the opinion that the congregation has sufficient resources at the date of approval of these financial statements to meet commitment5 which will arise in the year from the date of signing this report and subject to the continuing support from Members to fund on an ongoing basis the congregation's current activities and other financial commitments. RESERVES POLICY The trustees have considered the level of unrestricted reserves that it is appropriate to hold taking account of current and ongoing commitments. It Is the policy of the trustees to hold reserve5 equivalent to between 3 and 6 months normal expenditure. At the year-end unrestricted reserves were £136,409.98 which represents an adequate level of reserves. The trustees however, consider it prudent to hold reserves at this level as the funding of its present activities Is dependent of the ongoing financial support of members. RISK REVIEW A revlew of major risk5 has been undertaken by the trustees and systems and procedures i m plemented to ma nage identified risks. The principal risks a re in relation to the likelihood of reputational damage and financial risks associated with the expectation of ongoing financial support from members. These risks are mitigated by the trustees, and the Congregational Committee, regularly monitoring the various activities of the congregation at stated meetings and by encouraging members in their regular giving. Approved by the Kirk Session at a meeting on 27 May 2025 and signed on its behalf by MrR bert Dowey William J McKittrick 27 May 2025 27 May 2025 10
an FIRST PRESBYfERIAN CHURCH PORTADOWN a Congregation of The Presbyterian Church in Ireland UNQUALIFIED INDEPENDENT EXAMINERS OR AUDITORS REPORT TO THE TRUSTEES OF FIRST PRESBYTERIAN CHURCH PORTADOWN A CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND Oplnlon We have audited the accounts of the First Presbyterian Church Portadown for the year ended 31 December 2024 which comprise the statement of financial activities, the balance sheet and the notes to the accounts, including a summary of significant accounting policies. The flnancial reporting frameworkthat has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts & Reports) Regulatlons {Northern Ireland) 2015 and regulations made under section 66 of that Act. Our audit work has been undertaken so that we might state to the charity's trustees those rnatter5 we are required to state them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees as a body, for our audlt work, for this report, or for the opinions we have formed. In our opinlon the accounts: Give a true and fair vlew of the state of the charity's affairs as at 31 December 2024 and of its Incoming resources and application of resources, for the year then ended; Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and Have been prepared in accordance with the requirement5 of the Charities Act {Northern Ireland) 2008. Basls for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UKII and applicable law. Our responsibilities under those standards are further described in the auditors, responsibilities for the audit of the accounts section of our report. We are Independent of the church in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a ba515 for our opinion. 11
Presbyter an FIRST PRESBYfERIAN CHURCH PORTADOWN Congregation of The Presbyterian Church in Ireland UNQUALIFIED INDEPENDENT EXAMINERS OR AUDITORS REPORT TO THE TRUSTEES OF FIRST PRESBYTERIAN CHURCH PORTADOWN CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND (cont'd) Conclusions relating to going concern We have nothing to report in respect of the following matters in relations to which the ISAS IUKI require us to report to you were: The trustees use of the going concern basis of accounting in the preparation of the accounts is not appropriate,. or The trustees have not disclosed in the accounts any identified material uncertalntles that may cast significant doubt about the churches ability to continue to adopt the gong concern basis of accounting for a period of at least twelve months from the date when the accounts are authorlsed for issue. Other information The other information comprlses the Information included in the actual report, other than the accounts and our auditorfs report thereon. The trustees are responsible for the other information. Our opinion on the accounts does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the accounts, our responsibility is to read the other information and, in doing do, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the audit or otherwise appears to be materially misstated, If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the account5 or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information,. we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exceptlon In the light of the knowledge and understanding of the trustees and its environment obtained in the course of the audit, we have not identified material rnis5tatement5 in the trustees, report, 12
Presbyter an FIRST pREsBER1AN CHURCH PORTADOWN a Congregation of The Presbyterian Church in Ireland UNQUALIFIED INDEPENDENT EXAMINERS OR AUDITORS REPORT TO THE TRUSTEES OF FIRST PRESBYTERIAN CHURCH PORTADOWN CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND (cont'd) We have nothing to report in respect of the following matters in relation to which the Charitles (Accounts and Reports) Regulations (Northern Ireland) 2015 requires us to report to you if, in our opinion: The information given in the trustees, report is inconsistent in any material respect with the accounts. or Sufficient accounting records have not been kept, or; The accounts are not in agreement with the accounting records; or We have not received all the information and explanations we requlre for our audit. Responsibilities of trustees As explained more fully in the statement of trustees, responsibillties, the tru5tee5 are responsible for the preparation of the accounts and for being satisfied that they give a true and fair vlew, and for such internal control as the trustees determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error, In preparing the accounts, the trustees are responsible for assessing the church's ability to continue as a going concern, disclosinE, as applicable, matters related to going concern and using the Eoing concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so. Auditors, responsibilltles for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error and to issue an auditors report that includes our opinion. Reasonable assurance is a high level of assurance, but Is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatement5 can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these accounts. A further description of our responsibilities for the audit of the accounts is located on the Financial Reporting Council's web51te at; htt www.frc.or auditor5res onsibilities. This description forms part of our auditors report. Ruddell & Company Chartered Accountants & Registered Auditors 16 Church Street Dungannon BT716AB 13
Presbyter an FIRST PRESBYfERIAN CHURCH PORTADOWN a Congregation of The Presbyterian Church in Ireland STATEMENT OF FINANCIAL ACTIVITY for the year ended 31 December 2024 In¢ome and Endowments from Donatlons and legacles Charltable activitles other tradlng actlvltles Investments Other 232,788.66 52,079.21 1,991.75 5,S12.91 11,787.42 203,171.12 435,959.78 52,079.21 1,991.75 21.¢XI3.77 11,787.42 473,081.43 50,277.58 1,678.08 13.499,63 158,935.00 IS.4.66 Total 304.159.95 218.661.98 522,821.93 697,471.72 Expenditure on Ralsln8 funds Charltable actlvltles other 2,400.00 311,249.11 14.146.14 2,400.00 422,965.03 65,303.03 2,4CN).¢ 438,175,39 65,117.77 111,715.92 51,156.89 Total 327.795,25 162,872.81 490,668.06 505,693.16 Net galns/llossesl on Investments Net Income / (Expendlture) Transfers between funds Ga5ns/llosses} on revaluatlon of flxed asset5 -23,635.30 55,789.17 32,153.87 191,778.56 -2.000. 2,000.(X) 22,425.26 22,425.26 37,362.54 Net Movement In Funds -25,635.30 57,789.17 22,425.26 54.579.13 229,141.10 Reconciliation of Funds Total funds brought forward 162,045.28 2,514,751.57 474,304.37 3,151,101,22 2,921,960.12 Total Fund5 Carried Forward 136,409.98 2,572,540.74 496,729.63 3,205,680.35 3,151,101.22 14
an FIRST PRESBYTERIAN CHURCH PORTADOWN a Congregation of The Presbyterian Church in Ireland BALANCE SHEET As at 31 December 2024 Flxed Assets Tangible assets Investments 12 48,871.86 2,281.810,04 2,330,681.90 496,729.63 2,358,092.46 474,304.37 13 496,729.63 Total Fixed Assets 48,871.86 2,281,810.04 496,729.63 2,827,411.53 2,832,396.83 Current Assets Debtors Cash at bank and In hand 14 11,787.73 87,529.92 6,483.11 433,141.16 18,270.84 520,671.08 15,958.65 567,455.81 15 Total Current Assets 99,317.65 439,624,27 538,941,92 583,414.46 Liabilltles Credltors: Amounts falling due wlthin one year 16 11.779.53 70,697.81 82,477.34 87,942.45 Net current Assets or Llabilities 87,538.12 368,926.46 456,464.58 495,472.01 Total Assets less Current L5ablllties Credltors., Amounts falling due after more than one year 136,409.98 2.650,736.50 496,729.63 3,283,876.11 3,327,868,84 17 78,195.76 78,195.76 176,767.62 Provlslon5 for Ilabllltles Total Net Assets or Llablllties 136,409.98 2,572,540,74 49G,729.63 3,205,680.35 3,ISI,101.22 15
an FIRST PRESBYfERIAN CHURCH PORTADOWN a Congregation of The Presbyterian Church in Ireland BALANCE SHEET (cont'd) As at 31 December 2024 Funds of the Charlty Endowment funds 18 496,729.63 496,729.63 474,304.37 Restrlcted funds 18 2,572,540.74 2,572.540.74 2.514,751.57 Unrestrlcted funds 18 136,409.98 136,409.98 162,045.28 Revaluatlon reserve 18 Total Charity Funds 136,409.98 2,572,540.74 496,729.63 3.205,680.35 3,151,101.22 Approved by the Kirk Session at a meeting on 27 May 2025 and signed on its behalf by Mr Robert J Dowey Mr William J McKittrick 27 May 2025 27 May 2025 16
an FIRST PRESBYfERIAN CHURCH PORTADOWN a Congregation of The Presbyterian Church in Ireland NOTES TOTHE ACCOUNTS 31 December 2024 ACCOUNTING POLICIES Basis of financial statements 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 Financial Reporting Stsndard applicable in the UK and Ireland IFRS1021 (effective l January 20151. The flnancial statements have been prepared under the historical c05t conventlon 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 theiraffiliation to another body, northose that are informal gathering5 of church members. Fund accountin 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 restrlcted or unrestricted income funds dependlng 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 donations 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. Unrestrlcted 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, Incomin Recognition of incoming resources These are included in the Statement of Financial Activities {SoFA) when: the congregation becomes entitled to the resources. the trustees are virtually certain they will receive the re50u rces. and the monetary value can be measured with sufficient reliability. resources 17
Presbyter an FIRST PRESBYfERIAN CHURCH PORTADOWN Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS {cont'd) 31 December 2024 {ii) Incoming resources with related expenditure Where incoming resources have related expenditure (as with fundraising incornel the incoming resources and related expenditure are reported gross in the SOFA. {lil) Grants and donations Grants and donations are only Included in the SOFA when the congregation has unconditional entltlement 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. Iv) Contractual income and performance related grants This is only included in the SOFA once the related goods or servlces have been delivered. (vi) Gifts In klnd Gifts in kind are accounted for at a reasonable estlmate of their value to the charity or the arnount actually realised. Gifts in kind for sale or distributlon are included in the accounts as gift5 only when sold or dlstributed 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 faclllties 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 Thi5 is included in the accounts when recelvable. (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. 18
an FIRST PRESBYfERIAN CHURCH PORTADOWN a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont'd} 31 December 2024 Ex enditure and liabilities (xi) Liability recognition Liabi1Stie5 are recognised as soon as there is a legal orconstructive 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 cost of twstee meetings and cost of any legal advice to trustees on governance or constitutional matter5. (xlli) Grants wlth performance conditions Where the charity gives 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. {xlv) Grants payable without performance conditlons These are only recognised in the accounts when a commltment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity. Assets (xv) Tangible fixed assets Tangible fixed assets for use by charity are capitalised if they can be used for more than one year, and c05t at least £1,000. They are valued at cost or, if gifted, at the value to the charity on receipt. The church buildings are deemed to be Heritage assets as defined by the Charities SORP (FRS1021. These Heritage assets 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 benefit to the users of the accounts and to the church. The church halls are physically attached to the church and are not separable as an individual asset. As such they are deemed to be Heritage assets and no value is ascribed to them in the balance sheet as information on the cost orvaluation is not available and such inforrnation cannot be obtained at a cost commensurate with the benefit to the users of the accounts and to the church. 19
Presbyter an FIRST PRESBYfERIAN CHURCH PORTADOWN a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont'd) 31 December 2024 The Manse is recognised at cost less depreciation of 50 years. The Manse has, therefore, been fully depreciated at 31 December 2024. Depreciation is recorded on all tangible fixed assets other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life as follows: Buildings Fixture5, fittings and equipment Motor vehicles Computers, software and technical equipment over 50 years over 10 years over4years over 4 years (xvi) Investments Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees, best estimate of market value, 20
Presbyter an FIRST PRESBYfERIAN CHURCH PORTADOWN a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont'd) 31 December 2024 2. DONATIONS AND LEGACIES 11 151, Recorded giving Loose collections Donations and gifts Gift Aid tax refunds Legacies and bequests 187,022.51 162,449.70 6,861.00 3,734.00 4,293.00 4,073.37 33,612.15 31,914.05 1,000.00 1,000.00 349,472.21 368,482.83 10,595.00 9,040.00 8,366.37 21,799.92 65,526,20 72,258.68 2,000.00 1,500,00 232,788.66 203,171.12 435,959.78 473,081.43 CHARITA8LE ACTIVITIES Catering income Edenderry CE Tuck Shop Presbyterlan Women Chatterbox Fellowship and Luncheon Club Edenderry CE SeniorCE Eden Girls 3,875.00 3,875.00 600.00 318.23 3,026.65 1,188.08 3,015.20 40,763.12 386,30 980.00 3,028.80 905.11 3,189.35 39,927.75 108.20 1,045.(KJ 3,028.80 905.11 3,189.35 39,927.75 108.20 1,045.00 52,079.21 52,079.21 50,277.58 21
Presbyter an FIRST PRESBYfERIAN CHURCH PORTADOWN a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont'd) 31 December 2024 4. OTHER TRADING ACTIVITIES Ground rents receivable 1,991.75 1,991.75 1,678.08 1,991,75 1,991,75 1,678.08 INVESTMENTS Deposit interest Interest on Gift Aid tax refunds General Investment Fund dividends General Investment Fund 1,283.59 35.34 4,193.98 7,940.13 9,223,72 2,226.72 35,34 19.51 11,744.71 9,253.40 2,000.00 7,550.73 5,512.91 15,490.86 21,003.77 13,499.63 22
an FIRST PRESBYfERIAN CHURCH PORTADOWN a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS {cont'd) 31 December 2024 OTHER INCOME Church magazines and books Income from church events Grants Received Mlscellaneous Income Sale of Land at Watson Street 1,580.50 5,655.00 4,521,92 30. 1,580.50 5,655.00 4,521,92 30.00 1,360.00 2,875.00 6,000.00 200.00 148,500.00 11,787.42 11,787.42 158,935.00 RAISING FUNDS Freewill Offering, Property Fund and Missionary Fund envelopes 2,400.00 2,400.00 2,400.00 2,400.00 2,400.00 2,400.00 23
Presbyter an FIRST PRESBYfERIAN CHURCH PORTADOWN a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont'd) 31 December 2024 CHARITABLE ACTIVITIES General Assembly assessments Presbytery fees Mlnistry and support staff costs Office Admi nistrator salary and expenses Cleaners, salaries Congregatlonal running expenses Bank fees 30,065.50 1,370.00 107,573.23 12,532.52 30,065.50 30,072.50 1,370.00 1,018.35 107,573.23 104,289.68 12,532.52 11,506.00 21,307.74 68,489.85 1,113.08 21,307.74 19,748.12 68,843.85 62,783.20 1,562.22 1,392.57 17,277.58 20,463.88 108,026.24 129,315,39 3,235.92 4,083,53 4,999.93 8,663.68 46,170.30 44,838.49 354.00 449.14 Loan interest Donations to mission5 and charities Manse rates and maintenance Children and youth ministries Church events 17,277.58 14,391.04 93,635.20 3,235.92 4,999.93 46,170.30 311,249.11 111,715.92 422,965.03 438,175,39 24
an FIRST PRESBYfERIAN CHURCH PORTADOWN a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont'd) 31 December 2024 OTHER EXPENDITURE Caterlng at events Church magazines and literature Organisation runnlng costs Grants to individuals Depreciation 7,710.38 860.00 333.40 3,088.37 2,153.99 51,156.89 7,710.38 8,422.30 860.00 1,025.OD 333,40 765,19 3,088,37 2,927,00 53,310.88 51,978.28 14,146.14 $1,156.89 65,303.03 65,117,77 10. EMPLOYEES Employment Costs Wages and salarles (including expenses) Social security costs Pension contributions 133,146,86 5,697.57 15,065.56 128,334.58 6,385.27 12,725.45 153,909.99 147,445.30 25
an FIRST PRESBYfERIAN CHURCH PORTADOWN a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont'd) 31 December 2024 Number of Employees The average number of employees, including the minister of the congregation, during the year was: Average number of employees There was one employee in receipt of employee benefits beeen £60,000 and £70,000. 11. PENSION COSTS The minister of the congregation is a rnember of the Presbyterian Church in Ireland Penslon Scheme120091. This is a scheme operated by the Presbyterian Church in Ireland, a separate registered charity. The congregation pays an assessmentto the Presbyterian Church in Ireland equivalent to the employerfs pension contribution for the Scheme and based on the stipend paid to the minister. The Presbyterian Church in Ireland Pension Scheme120091 is a funded Scherne 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 a board of trustees. The Presbyterian Church and the Scheme Trustees have agreed a funding plan to ensure the Scheme is suff iciently 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 240A of pensionable salaries to cover the accrual of benefits for future service, expenses, the cost of insuring death in service benefits and funding the scheme deficlt. 26
an FIRST PRESBYfERIAN CHURCH PORTADOWN a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont'd) 31 December 2024 The contributions made by the congregation during the year were: Contributions 12,496.50 11,901.50 12. TANGIBLE FIXED ASSETS Cost or valuation At start of year Additions Disposals 2,427,374.23 17,224.20 34,308.09 7,872.78 2,461,682.32 25,900,32 803.34 At end of year 2,444,598.43 42,180.87 803.34 2,487,582.64 Depreciatlon At start of year Provision for year Disposals 97,094.96 48,891.96 6,494.90 4,218.08 103,589.86 53,310.88 200.84 At end of year 145,986.92 10,712.98 200.84 156,900.74 Net Book Value At end of year 2,298,611.51 31,467.89 602.50 2,330,681.90 At start of year 2,330,279.27 27,813,19 2,358,092.46 27
Presbyter an FIRST PRESBYfERIAN CHURCH PORTADOWN a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont'd) 31 December 2024 13. INVESTMENTS 2024 2023 General Investment Fund of The Presbyterian Church in Ireland 496,729.63 474,304,37 496,729.63 474,304.37 2024 Value at start of year Additions Disposa15 Impairment Gain51{lossesl on revaluation 474,304.37 22,425.26 Value at end of year 496,729.63 14. DEBTORS 2024 2023 Recorded giving Gift Aid tax refunds recoverable Bank Interest Receivable Gra nts receivable Prepayments 1,300,00 8,390.21 1,973.86 1,702.00 8,372,68 6,606.77 5,883.97 18,270.84 15,958.65 28
an FIRST PRESBYTERIAN CHURCH PORTADOWN Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont'd) 31 December 2024 15. CASH AT BANKAND IN HAND 2024 2023 Bank of Ireland No l Account Bank of Ireland No 2 Account Bank of Ireland No 3 Account Bank of Ireland No l Business Reserve Account Bank of Ireland No 2 Business Reserve Account Bank of Ireland No 4 Account Bank of Ireland Business Reserve Account AIB Current Account- Chatterbox AIB Select Account - Church Choir Ulster Bank Account- Fellowship and Luncheon Club Ulster Bank Current Account- Edenderry CE Ulster Bank Select Account- Senior CE AIB Current Account- Presbyterian Women Bank of Ireland Account - Eden Girls Cash in hand 24,844.46 5,044.63 80,783.52 13,518.17 365,000.00 -1,876.00 9,973.07 420.54 436.86 1,339.73 14,036.57 339.36 556.30 2,149.35 4,104.52 26,639.24 15,677.90 80,500.52 50,002.69 350,000.00 -5,410.00 19,108.30 420.54 436.86 1,325.34 12,592.87 347.16 657.94 15,156.45 520,671.08 567,455,81 16. CREDITORS: amount falling due within one year 2024 2023 Accruals Bank loan 15,673.10 66,804.24 21,138.21 66,804,24 82,477.34 87,942.45 17. CREDITORS: amount falllng due after more than one year 2024 2023 Bank loan 78,195.76 176,767.62 78,195.76 176,767.62 29
an FIRST PRESBYfERIAN CHURCH PORTADOWN a Congregation of The Presbyterian Church in Ireland NOTES TO THE Accouwfs {cont'd) 31 December 2024 18. FUND BALANCES AND RECONCILIATION OF FUNDS Balance at start Income Expenditure Fund Gains/Losses Transfer Balance at end Unrestricted Funds No l Account No 3 Account No l Buslness Reserve Bu51ness Reserve Account Chatterbox Church Cholr Fellowshlp and Luncheon Edenderry CE Edenderry CE Tuck Shop Senlor CE Presbyterlan Women Eden Glrls Fixed Assets Debtors Credltors -26,683.34 79,500.52 50,002.69 19,108.30 1.400,95 443.36 1.325.34 12,592.87 3,165.17 347.16 657.94 469.97 25,125.53 11,435.03 -16,846.21 244,890.40 I,10.00 580.44 2,440.06 5.11 262,149.68 723.(K) -17,259.28 277.00 580.44 -7,059.94 47.56 4,814.55 6.00 -37,064.96 -2,075.29 -39,128.07 79,783.S2 13,518,17 9,973,07 1,353.39 443.36 1,339,73 14,036.57 3,165.17 339.36 556.30 2,149.35 48,871.86 11,787,73 -11,779,53 9,500.C 952.67 3,189.35 44,682.59 3,174.% 43,238.89 14,39 1,443.70 108.20 3,288.80 3,075.00 116,(X) 3,390.44 2.395.62 2,153.99 -7.80 -101.64 679.38 -2,153.99 I,cw.c 25,9).32 352.70 5.066.68 162,045.28 304,159.95 327,795.25 -23,635.30 -2,000.00 136,409.98 Restricted Funds No l Account No 2 Account No 2 Buslness Reserve No 3 Account No 4 Account Bank Loan Flxed Assets Debtors Credltors 57,869.28 17,280.60 350,000,00 1,000.00 -1,025.00 -243,571.86 2,332,966.93 4,523.62 4,292.00 25,329.25 112.206.47 7,940.13 19,741.00 602.78 5,588.25 515.00 111,603.69 -123,839.66 7,940.13 7,059.87 63,972,53 5,044,63 365,000.00 I,000,00 -1,876.CQ -145,000.C 2.281,810,04 6,483.11 -3,893.57 72,186.13 I,000.c¥) 74,094.56 17,277.58 51,156.89 -1,908.43 -16.277.58 -Sl,156.89 1,057,43 114,849.44 1,959,49 398.43 2,$14,751.57 218,661.98 162,872.81 55,789.17 2,CKQ.00 2,572,$40.74 Endowment Funds General Investment Fund 474,304.37 22,425.26 496,729.63 474.304.37 22.425.26 496,729.63 Total 3,151,101.22 522,821.93 490.668.06 54,579.13 3,205,680.35 30
an FIRST PRESBYfERIAN CHURCH PORTADOWN a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont'd) 31 December 2024 19. SUBSEQUENT EVENTS There have been no significant events affecting the charity since the year end which requ i re disclosu re. 20. RELATED PARTY TRANSACTIONS One of the trustees, Rev Robin Brown, who is the minister of the congregation, received remuneration of £66,004.93. Pension contrlbutions of £12,495.50 were paid by the congregation in respect of the minister to the Presbyterian Church in Ireland Pension Scherne {20091. A pulpit supply fee of £83 was pald to Mark Neale, a trustee. None of the other trustees Teceived any remuneration or claimed expenses during the year in connection with their duties. During the year Emily Finlay and Rachel Finlay, whose father John Finlay is a trustee, each received an assignment grant of £50, and Luke Kent, whose father Mark Kent is a trustee, also received an assignment grant of £50. During the year the congregation contributed the followlng amounts to funds of the General Assembly of the Presbyterian Church in Ireland, a separate charity: £18,113,00 towards the United Appeal. £30,065.50 towards General Assembly assessment5. The congregation paid £1,370.00 towards Presbytery of Armagh assessments during the year. There were no other related party transactions. 31