## **DUNDROD CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the year ended 31st December 2025** Page 16 ## **DUNDROD CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND STATEMENT OF ASSETS AND LIABILITY As of 31st December 2025.** **Approved by the Kirk Session at a meeting on 14[th] April 2026 and signed on its behalf by:** Page 17 **DUNDROD CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS** ## **31st December 2025** ## **1. ACCOUNTING POLICIES** ## **BASIS OF FINANCIAL STATEMENTS** As the total income of the congregation is less than £250,000 the congregation has 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. ## **ACCOUNTING CONVENTION** The accounts comply with the Charities (Accounts and Reports) Regulations (Northern Ireland 2015, the Charities Act 2008 (substitution of sums) Order (Northern Ireland) 2015 and Accounting and reporting by Charities: Statement of Recommended Practice applicable in the UK and Republic of Ireland (FRS2012) (effective 1 January 2015). The accounts are prepared in £ sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared under the historical cost convention, modified where applicable to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principle accounting policies are set out below: ## **GOING CONCERN** At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue its operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the accounts. ## **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 donations or grants for a specific congregational activity intended by the donor. Where these funds have unspent balances, interest on the pooled investment is apportioned to the individual funds on an average balances’ basis **Unrestricted funds** are income funds that are to be spent on the congregation’s general purposes. **Designated funds** are general fund set aside by the congregation for use in the future ## **Donation and legacies** These are recorded as received as entitlement arises at the stage and are classified as restricted or unrestricted according to any conditions stipulated/intended by the donor. Recorded income represents the weekly freewill offering as collected each week. Gift Aid represents the income tax refunds received on the gift aid donations. Page 18 ## **DUNDROD CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS** ## **31st December 2025** ## **Charitable Activities** Income from charitable activities includes income earned from the supply of goods and services and from appeals recognised when received and classified according to restrictions of use. Receipts from the church activities are recognised once received. Receipts from fundraising and generating funds are recognised when received. Membership fees are recognised on receipt. Grants are recognised on receipt unless performance conditions require deferral of the amount. Appeals are recognised when the funds have been received. ## **Other voluntary receipts** Income from voluntary receipts includes income from mission boxes, weekly contributions, classes income and is recorded as received. ## **Investment Income** Investment income represents the bank interest received from banks, building societies, or other financial institutions and is recognised on receipt. ## **RESOURCES EXPENDED** Expenditure is accounted for on a cash basis and has been classified under the headings that aggregate all costs related to the category. Where costs cannot be directly attributable to particular headings, they have been allocated to activities on a basis consistent with the use of resources ## **2. DONATIONS AND LEGACIES** Page 19 ## **DUNDROD CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31st December 2025** ## **3. CHARITABLE ACTIVITIES** ## **4. INVESTMENT INCOME** ## **5. OTHER INCOME** Page 20 ## **DUNDROD CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31st December 2025** ## **6. RAISING FUNDS** ## **7. CHARITABLE ACTIVITIES - Costs** ## **8. OTHER EXPENDITURE** ## **9. FIXED ASSETS** The congregation owns the Church premises and Dundrod Old School situated at Dundrod Road, Dundrod: The Manse, Church Hall, Multi-Use Games area, and the Biomass Unit situated at Leathemstown Road, Dundrod: Ballyhill Old School situated at Ballyhill Road and the associated fixtures, fittings, plant, and machinery. These have a combined insurance value of £5,425,739 Page 21 ## **DUNDROD CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS** ## **31st December 2025** ## **10. INVESTMENTS** Page 22 ## **DUNDROD CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31st December 2025** ## **11. FUND BALANCES** ## **12. PENSION COSTS** The minister of the congregation is a member of the Presbyterian Church in Ireland Pension Scheme (2009). This is a scheme operated by the Presbyterian Church in Ireland, a separate registered charity. The congregation pays an assessment to the Presbyterian Church in Ireland equivalent to the employer’s pension scheme and based on the Stipend paid to the minister. Page 23 ## **DUNDROD CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS** ## **31st December 2025** The Presbyterian Church in Ireland Pension scheme (2009) is a funded scheme 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 the Board of Trustees. The Presbyterian Church and the Scheme Trustees have agreed on a funding plan to ensure the scheme is sufficiently funded to meet the 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 24% 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 deficit. The contributions made by the congregation during the year were £0.00 ## **13. RELATED PARTY TRANSACTIONS** There were no related party transactions. No renumeration, expenses or pension contributions were paid due to the vacant minister’s post. Page 24