an LOUGHAGHERY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF FINANCIAL ACTIVITY (Receipts and Payments Account) for the year ended 31 December 2024 Note Unrestricted Restricted Funds Funds Endowment Funds Total 2024 Total 2023 Receipts Donations and legacies Charitable activities Other trading activities Investment Income Other 81,404 350 600 868 83 27,373 11,374 108,777 11,724 600 1,751 83 98,476 10,369 500 371 1,768 883 Sale of Investments Sale of fixed assets Loan5 Received Total Receipts 83,305 39,630 122,935 111,484 Payments Raising funds Charitable activities 373 80,432 373 118,737 381 118,677 38,305 Investment costs Other Purchase of Investment5 Purchase of fixed assets Loan Repayments Total Payments 80,805 38,305 119,110 119,058 Net receipts / (payments) Transfers between funds 2,500 1,325 3,825 (7,574) Net movement in funds Funds brought forward 2,500 52,832 1,325 92,258 3,825 174,432 17,574) 182,006 29,342 Funds carried forward 12 55,332 93,583 29,342 178,257 174,432 12
an LOUGHAGHERY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND STATEMENT OF ASSETS AND LIABILITIES As at 31 December 2024 Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2024 Total Fund 2023 Funds Reconciliation Bank and Cash at start of year Net movement in funds 52,832 2,500 92,258 1,325 29,342 174,432 3,825 182,006 17,5741 Bank and Cash at end of year 55,332 93,583 29,342 178,257 174,432 Bank & Cash Balances Bank Deposit Accounts Bank Current Accounts Cash in Hand 11,311 124,392 13,390 118,488 135,703 131,878 Other Assets Fixed Assets- Note 10 Church & Hall Premises (Building5 & Contents}° Fixtures (Church Or8anl Stores & Contents ** 5.5 acres agricultural land Investments- Note 11 Gift Aid. receivable on donations (Restricted £3,999) '{Unrestricted £9,994) ** 55,000 42,554 13,993 55,000 42,554 12,454 (Apr to Dec} 111,547 110,008 Insurance Valuations removed from Fixed Assets. £3,197,870 at 31/10/2024 Liabilities Loan5 Other 247,250 241,886 Approved by the Committee & Kirk Session on and signed on its behalf by INamel knknTrtJ- IName] IDatel 26 13
an LOUGHAGHERY CONGREGATION OF THE PRESBERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2023 ACCOUNTING POLICIES BASIS OF FINANCIAL STATEMENTS 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 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 la) 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. 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 Unrestricted Funds Restricted Endowment Funds Funds Total 2024 Total 2023 Recorded giving: Loose collections Donations and gifts GiftAid Legacies and bequest 62,921 662 6,000 11,821 21,582 84,503 662 7,568 16,044 79,141 533 4,654 14,148 1,568 4,223 81,404 27,373 108,777 98,476 14
an LOUGHAGHERY CONGREGATION OF THE PREsBERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS 31 December 2024 CHARITABLE A1VITIEs Unrestrirted Funds Restricted Endowment Funds Funds Total 2024 Total 2023 Income from charitable activities Fees from weddings and funerals Fundraising events Membership fees Grants 2,271 2,271 350 3,344 2,770 2,989 3,007 650 2,179 2,133 2,400 350 3,344 2,770 2,989 350 11,374 11,724 10,369 4. OTHER TRADING ACTIVITIES Unrestricted Funds Restricted Endowment Funds Funds Total 2024 Total 2023 Letting of premises Field Rental Trading income 600 600 500 600 600 500 INVESTMENT INCOME Unrestricted Funds Restricted Endowment Funds Funds Total 2024 Total 2023 Deposit interest General Investment Fund Rents investment properties Other investment income 139 229 368 202 729 654 1,383 169 868 883 1,751 371 15
an LOUGHAGHERY CONGREGATION OFTHE pREsBER1AN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) 31 December 2024 OTHER INCOME Unrestricted Funds Restricted Endowment Funds Funds Total 2024 Total 2023 Insurance claims Other income- Wayleaves etc. 83 83 1,768 83 83 1,768 RAISING FUNDS Unrestricted Funds Restricted Endowment Funds Funds Total 2024 Total 2023 FWO envelopes Fundraising events 373 373 381 373 373 381 CHARITABLE ACTIVITIES Unrestricted Funds Restricted Funds Endowment Funds Total 2024 Total 2023 General Assembly Assessments Presbytery fees Ministry and support staff costs Congregational running expenses Donations to Missions and charities Governance costs 13,461 681 43,463 21,528 200 1,099 13,461 681 43,463 46,509 13,524 1,099 13,695 784 39,344 50,390 13,379 1,085 24,981 13,324 80,432 38,305 118,737 118,677 16
an LOUGHAGHERY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS {cont'd) 31 December 2024 OTHER EXPENDITURE Unrestricted Funds Restricted Funds Endowment Funds Total 2024 Total 2023 Investment properties expenses PMS balance written off 10. FIXED ASSETS The congregation owns 5.5 acres (two fields) of agricultural grazing land that is adjacent to the Church premises and this is currently let to a neighbouring farmer. This has been valued at £55,000 by Fred Dalzell & Partners. The congregation owns the Church premises situated at Cargygray Road, Hillsborough, BT266BL, along with the associated fixtures, fittings, plant and machinery. These have an insurance value of £3,197,870 (31/10/20241. INVESTMENTS The congregation has the following investments. Amounts are shown at market valuation. 2024 2023 General Investment Fund Property Other investments - Progressive BS Other investments - 42,554 42,554 42,554 42,554 17
an LOUGHAGHERY CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS {cont'd) 31 December 2023 11. FUND BALANCES Fund Balance at Receipts Payment start Surplus / Transfer Balance at (Deficit) end Unrestricted Funds General Account 52,832 83,220 80,605 2,500 (115) 55,332 52,832 83,220 80,605 2,500 {115) 55,332 Restricted Funds Repair Fund Manse Account Investment Income PCI Appeals/Missions 53,242 14,355 13,282 429 310 11,324 14,870 172 67 11,174 (1,521) 172 (4) 350 67 {85} 1247) 200 51,721 14,527 100 450 Magazines Sunday School Choir Account Badminton Club Bowling Club Boys Brigade Girls Brigade Ladies Fellowship Ladies Fellowship Webb Ivory Junior C E Youth Fellowship 520 2,191 28 350 954 5,060 3,626 1,517 117 520 1,167 5,504 1,441 1,399 4,410 2,766 1,434 267 6,831 408 100 1,168 28 206 (391) 470 585 135 117 144 6,672 1,469 1,605 4,019 3,236 2,019 402 6,948 415 100 144 1,345 4,590 3,041 1,418 36 92,261 39,715 38,508 1,322 115 93,583 Endowment Funds Progressive BS(exc. Manse) **lntere5t included above. 29,342 29,342 29,342 29,342 Total 174.435 122,935 119,113 3.822 178.257 18
an LOUGHAGHERY CONGREGATION OF THE PREsBERlAN CHURCH IN IRELAND NOTES TO THE ACCOUNTS (cont'd) 31 December 2024 ** Total Interestfrom Progressive Building Society Investments was £953.07. Distribution of the RESTRICTED income of £310.23 is shown in that section os Expenditure and Transfers and the UNRESTRICTED income of £642.84 is included directly in "Receipts". 19