an OFTH CHU CHIN ATEII FOR TH 3111 2023 REC 74.938 23.713 98,651 7#,7S7 Mlss#)ns & Chailtes 16,768 16,768 10.598 21.65T 21.657 17.810 8,573 8225 74,938 70.711 145.849 116.39) AYIAEi¥rs 16.827 16.827 12.931 25,331 25.331 10,461 10,461 13,669 78.104 64.449 141553 123.921 N•tlncoTh I 4.1 -7.531 161.450 158.354 INVE8TYEIITS 25.164 40.121 186.614 198,475 P•plo12 Page11 of16
an A CONGREGATIOII OF THE PRES CHURCH IM IRELAND 1112r2024 56.755 65.932 104,695 Cash wi HaThJ 161.450 158.354 2023 89.616 89,616 20,162 620.162 19.200 19.200 4.598.978 4,gJ8,978 NIL NIL NIL NIL 76W8 4797A53 nathwei tNThJ Se i4J i1 a3- 10-2s P4¢22 Page 12of 16
an DOWNSHIRE ROAD CONGREGATION OFTHE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31st December 2024 F FINAN IAL TATEMENTS 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 Standard applicable in the UK and Ireland (FRS102) (effective 1 January 2015). The financial statements have been prepared underthe historical cost convention except for investment assets. which are shown at market value. The financial statements include all transactions, assets and (iabilities forwhich the congregation is responsible in law. They do not include the accounts of church groups that owe their affiliation to another body, nor those that are informal gatherings of church members. NDA TIN 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 bythe donor and (b) revenue donations or grants for a specific congregational activity intended bythe 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. These are included in the Statement of FinancialActivities (SOFA) when= the congregation becomes entitled to the resources. • the trustees are virtually certain theywill receive the resources. and the monetaryvalue can be measured with sufficient reliably. Incoming resources wlth related expenditure Where incoming resources have related expenditure (as with fundraising income) the incoming resources and related expenditure are reported gross in the SOFA. Page 13of16
an DOWNSHIRE ROAD CONGREGATION OFTHE PRESBYfERIAN CHURCH IN IRELAND NOTESTOTHEACCOUNTS 31st December 2024 Grants and donations Grants and donations are only included in the SoFAwhen the congregation has unconditional entitlement to the resources. Tax reclaims on donations and gifts. Incoming resources from tax reclaims are included in the SOFA atthe same time as the gift to which they relate. Gifts in klnd Gifts in kind are accounted for at a reasonable estimate of theirvalue to the charity or the amount realised. Gifts in kind for use bythe charity are included in the SOFA as incoming resources when receivable. Volunteer help The value of any voluntary help received is not included in the accounts but is described in the trustees, annual report. Investment income This is included in the accounts when receivable. Investment gains and losses This includes any gain or loss on the sale of investments and anygain or loss resulting from revaluing investments to marketvalue at the end of the year. Liability recognition Liabilities are recognised as soon as there is a legal or constructive obligation committing the congregation to pay out resources. Governance costs These are shown within charitable activities and include the costs of preparation and examination of accounts. the costs of trustee meetings and cost ot any legal advice to trustees on governance or constitutional matters. Grants wlth performance conditlons 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. Page 14of16
an DOWNSHIRE ROAD CONGREGATION OFTHE PRESBYfERIAN CHURCH IN IRELAND NOTESTOTHEACCOUNTS 3181 December 2024 Tanglble Flxed Assets Tangible fixed assets for use by charity are capitalised if they can be used for more than one year, and cost at least £2.500. They are valued at cost or, if gifted, at the value to the charity on receipt. Depreciation As there is no intention to sell any of these assets in the foreseeable future. depreciation is not calculated. rather their insured value is quoted. Investments Investments quoted on a recognised stock exchange are valued at marketvalue at the year end. The minister of the congregation is a member of the Presbyterian Church in Ireland Pension Scheme (2009). This is a scheme operated bythe Presbyterian Church in Ireland. a separate registered charity. The congregation pays an assessment to the PresbY(erian Church in Ireland equivaLent to the employer's pension contribution forthe Scheme and based on the stipend paid to the minister. 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 a board of trustees. The Presbyterian Church and the Scheme Trustees have agreed a funding plan to ensure the Scheme is sufficientlyfunded to meet current and future obligations. A formal schedule of contributions was drawn up on 25 November 2015 wherebythe Presbyterian Church agreed to pay from 31 December 2015 contributions of 24% of pensionable salaries to coverthe accrual of benefits forfuture service. expenses. the cost of insuring death in serrfice benefits and funding the scheme deticit. The contributions made bythe congregation during the past two years were= £ 2024 £6,768 £2023 £6.570 Contributions e15of16
an DOWNSHIRE ROAD CONGREGATION OFTHE PRESBYTERIAN CHURCH IN IRELAND NOTESTOTHEACCOUNTS 31" December 2024 RELATED PARTY T One of the Trustees, the Minister of the congregation, received remuneration of £28,199 and expenses of £5.277 for acting in that capacity. Pension contributions of £6.768 were paid bythe congregation in respect of the ministerto the Presbyterian Church in Ireland Pension Scheme (2009). Another Trustee, our relief organist. received remuneration of £1,350 duringthe year. None of the othertrustees received any remuneration or expenses. During the yearthe congregation contributed the following amounts to Funds of the General Assembly of the Presbyterian Church in Ireland- a separate charity. £6.864 for Congregational Assessments £6.226 towards the United Appeal £3.360 toward the World Development Appeal The congregation contributed £798 towards Presbytery Assessments during the year. There were no other related partytransactions. Pa%e 16 of 16