an MAGHERALLY CONGREGATION OFTHE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the year ended 31 December 2024 Note Unrestrirted Funds Restrlrted Endonent Funds Funds Total 2024 Total 2023 Recelpts Donations and legacies Charitable activities Other trading activities Investment Income Other 114,202 38,379 152,581 118,379 9,800 317 8,408 9,800 5,022 13,535 9,700 3,024 12,664 3,821 5,127 123,150 56,904 180,938 143,767 Sale of Investments Sa le of fixed assets Loans Received Total Receipts 123,150 56,904 180,938 143,767 Payment5 Raising funds Cha ritable activities Investment costs Other 650 81,482 650 124,288 743 100,397 42,806 1.673 10,621 12,214 83,805 51,754 135,559 113,354 Purchase of Investments Purchase of fixed asset5 Loan Repayments Total Payments 83,805 51,754 135,559 113,354 Net receipts / (payments) Tra nsfers between funds 39,345 5,150 45,379 30,413 Net movement in funds Funds brought forward 39,345 193,584 5,150 104,075 45,379 322,210 30,413 291,797 24,551 Funds carried forward 11 232,929 109,225 25,435 367,589 322,210 12
an MAGHERALLY CONNGREGATION OFTHE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF ASSEfs AND LIABILITIES As at 31 December 2024 Unrestricted Funds Restricted Endowment Funds Funds Total Funds 2024 Total Fund5 2023 Funds Reconcillation Bank and Cash at start of year Net movement in fund5 193,584 39,345 104,075 5,150 24,551 322,210 45,379 291,797 30,413 Bank and Cash at end of year 232,929 109,225 25,435 367,589 322,210 Bank & Cash Balances Bank Deposit Accounts Bank Current Accounts Cash in Hand 205,034 162,149 406 198,119 123,551 540 367,589 322,210 Other Assets Fixed Assets- Note 9 Church premises Sexton house Manse and farm Investments - Note 10 3,463,263 277,649 679,966 1,242 3,352,627 268,779 658,244 1,186 4,422,120 4,280,836 Liabilitles Loans Other Approved by the Kirk Session and signed on its behalf by. Rev Nigel Kane Minister Alexander Martin Clerk Of Session Date: 30 July 2025 Date: 30 July 2025 13
an MAGHERALLY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTESTO THE ACCOUNTS 31 December 2024 ACCOUNTING POLICIES BASIS OF FINANCIAL sfATEMENTS 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 diSctIOn. 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 (al income from endowments which is to be expended only on the restricted purposes intended by the donor and (b) venue 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, 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. DONATIONS AND LEGACIES Unrestritted Funds Restricted Endowrnent Funds Funds Total 2024 Total 2023 Recorded giving". Loose collections Donations and gifts Gift Aid Legacies and beauest. 2.423 98,425 12,424 930 2,423 131,090 18,1.38 930 2,227 102,020 14,132 32,665 5,714 114,202 38,379 152,581 118,379 14
Presbyter an MAGHERALLY CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2024 3. OTHER TRADING AcfiviTIES Unrestritted Funds Restricted Endowment Funds Funds Total 2024 Total 2023 Letting of premises (Sexton housel Manse farm 7,800 7,800 7,800 2,000 2,000 1,900 9,800 9,800 9,700 INVESTMENT INCOME Unrestricted Funds Restricted Endowment Funds Funds Total 2024 Total 2023 Deposit interest General Investment Fund 3,792 29 317 4,993 29 3,001 23 3,821 317 5,022 3,024 15
Presbyter an MAGHERALLY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (conyd) 31 December 2024 OTHER INCO Unrestrirted Funds Restrirted Endowment Funds Funds Total 2024 Total 2023 Book Sales Heat & light contributions Bowling Club Katesbridge ministerial conv Christmas Tree Festival NIE pole rental Sunday school Presbyterian women Youth club Rates Overpayment Big Breakfast Booklets at Mission Energy Support Payment PHO Complaint Holiday Bible Club 138 300 138 300 380 4,679 4,200 244 339 3,173 72 385 4,100 4.679 4,200 244 339 3.173 72 257 474 6,102 56 22 495 53 600 loo 10 io 20 5,127 8,408 13,535 12,664 RAISING FUNDS UnstrIrted Funds Restricted Endowment Funds Funds Total 2024 Total 2023 FWO envelopes Children5 Church envelopes 650 650 743 650 650 743 16
an MAGHERALLY CONGREGATION OFTHE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (convd) 31 December 2024 CHARITABLE ACTIVITIES Unrestrirted Funds Restrirted Endowrnent Funds Funds Total 2024 Total 2023 General Assembly Assessments Presbytery fees Ministry and support staff costs Congregational running expenses Donations to Missions and charities 8,349 582 8,349 582 56,763 23,685 34,909 7,37ri 877 53,640 27,883 10,621 56,763 15,788 7,897 34.909 81,482 42,806 124,288 100,397 OTHER EXPENDITURE Unrestrirted Funds Restricted Endowment Funds Funds Total 2024 Total 2023 Manse repair Manse farm Sunday school Presbyterian women Youth club Bowling club Manse cottage stipend Sunday School gift SSK Healthcare Cardiac Services Gift aid transfers RB Catering Big Breakfast Social Expenses Photocopier Maintenance Photocopier Purchase 1,144 2,000 46 3,950 1,144 2,000 346 3,950 2,906 1,900 503 314 314 300 loo 81 177 300 300 loo 81 950 882 310 1.194 350 310 1,194 1,673 8,948 10.621 12,214 17
Presbyter an MAGHERALLY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (convd) 31 December 2024 FIXED ASSErs The congregation owns the Church premises (Church and hall) situated at Kilmacrew Road, Banbridge and the associated fixtures. fittings, plant and machinery. These premises have an insurance value of £3,463,263. The congregation owns the sextons house property at Kilmacrew Road, Banbridge. This property has an insurance value of £277,649. I he congregation owns the manse farm at 37 Tullyheenan Road, Banbridge, comprising a dwelling house and approximately 14 acres of agricultural land. This property has an insurance value of £679,966. 10. INVESTMENTS The congregation has the following investments. Amounts are shown at market valuation. 2024 2023 General Investrrfent Fund 1,242 1,186 1.242 1,186 18
Presbyter an MAGHERALLY CONGREGATION OFTHE PRESBYTERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (conYd} 31 December 2024 11. FUND BALANCES Fund Balance at start Receipts Payment Surplus / Transfer (Deficit) Balance at end Unrestricted Funds General Fund Presbyterian Women 193,584 123.051 99 83,805 39,246 99 232,830 99 193.584 123,150 83,805 39,345 232,929 Re5trlcted Funds Manse Farm Property/Building Fund Sunday School Presbyterian Women Youth Club Bowling Club Missions, Charity and Midweek Fund 2,000 18,319 339 3,953 73 380 2,000 10,081 346 3,950 67,031 1,372 3,143 4,994 546 8,238 75,269 1,365 3,146 5,067 612 73 66 314 26,989 31,840 35,063 -3,223 23,766 104,075 56,904 51,754 5,150 109,225 Endowment Funds, Endowments, Bequests. Donations and Gifts 24,551 25,435 24.551 25,435 Total 322,210 180,938 135,559 45,379 367,489 19
Presbyter an MAGHERALLY CONGREGATION OFTHE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (conyd) 31 December 2024 12. TRANSAcfioNS WITH THE TRusfEES There we no transactions with the trustees in the year apart from salary and expenses payments made to Rev Nigel Kane. 13. GOVERANCE cosrs Governance costs of £1,650 were incurred during the year. This relates to fees paid to the Independent Examiner for the preceding year. This cost is included in congregational running expenses. 20