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 Endo￿nent
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 diSc￿tIOn. 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
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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
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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
Un￿strIrted
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
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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

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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

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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