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 PRESB￿ERIAN 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 PREsB￿ERIAN CHURCH IN IRELAND
NOTES TO THE ACCOUNTS
31 December 2024
CHARITABLE A￿1VITIEs
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 pREsB￿ER1AN 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 PREsB￿ERlAN 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