.Waringstown an PRESBYTERIAN Waringstown Presbyterian Church a Congregation of the Presbyterian Church in Ireland Trustees Annual Report and Financial Statements for the year ended 31 December 2024 Registered with the Charity Commi55ion for Northern Ireland; NIC105076
WARINGSTOWN PRESB YfERIAN CHURCH a Congregation of The Pre5byteriun Church in Ireland TRUSTEESANNUAL REPORT an The Trustees present their Annual Report and Financial Statements for the year ended 31 December 2024 including a Balance Sheet as at that date. REFERENCE AND ADMINISTRATIVE DETAILS Waringstown congregation of the Presbyterian Church in Ireland 21 Mill Hill Waringstown BT66 7QL CHARITY TRUSTEES The Charity Trustees who served during the year or who were trustees at the date of this report were: Tyrell Arnold Steve Bond (resigned June 24) Bobby Boyd David Crawford Michael Cregan Brian Hanna Basil McDowell Ken McKeown James McNeill Sam Moffett David Munroe Andrew Patterson Brian Taylor Rev Mark Haugh PRINCIPAL OFFICE BEARERS Minister Rev. Mark Haugh Mr. David Crawford Mr. David Hewitt Clerk of Session Treasurer Congregational Secretary Mr. Paul Barbour
WARINGSTOWN PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEES ANNUAL REPOR T (Conydj Presbyter an INDEPENDENT AUDITORS Mccleary & Company Ltd Chartered Accountants & Registered Auditors Garvey Studios 14 Longstone Street Lisburn BT28 ITP BANKERS Danske Bank 45-48 High Street Portadown BT62 ILB SOLICITORS Watson & Neill 23 High Street Lurgan BT66 8AH
WARINGSTOWN PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEES ANNUAL REPOR T {ConYdJ an STRUCFURE AND MANAGEMENT The Kirk Session The charity trustees of the congregation are the members of its Kirk session. Under the congregation's governing document, The Code, the book of the constitution and government of the Presbyterian Church in Ireland, the Kirk Session seeks to watch over and promote the spiritual interest of the congregation and of persons not connected with any congregation who are within its bounds. It ensures pastoral care is in place in the congregation and seeks to further the contribution of the Church to Christian witness and service in the local community. The Kirk Session has delegated to its Congregational Committee the temporal affairs of the congregation including administering all funds and property belonging to the congregation. Members of the Kirk Session are ex~officio members of the Congregational Committee. The Kirk Session consists of the ordained minister and the ruling elders of the congregation. All members are entitled to propose, speak and exercise equal votes at meetings, except that the Moderator, the minister in active duty in the congregation, has no deliberative but only a casting vote. Stated meetings of the Kirk Session are held monthly from September through to June each year. To be chosen for the office of the eldership in the congregation a person must be a voting member and a regular attendant on its ordinances. The selection of those proposed to be called to the office can be either by the congregation or by the Kirk Session. Presbytery Under the Presbyterian Church in Ireland form of governance the corporate oversight of congregation is the responsibility of a Presbytery which superintends generally the Spiritual and temporal affairs of the congregations assigned to it by the General Assembly of the Presbyterian Church in Ireland. Waringstown Presbyterian Church has been assigned to the Armagh Presbytery of the Presbyterian Church in Ireland. The General Assembly The General Assembly is the supreme court of the Church, representing in one body the whole Church and acting as its supreme legislative, administrative and judicial authority, in dealing with all matters brought before it. The General Assembly is normally constituted during the first week in June for worship and to conduct its business. Atthe end of business, it is dissolved. DESCRIPTION AND PURPOSE Waringstown Presbyterian Church is a congregation of the Presbyterian Church in Ireland. The Presbyterian Church in Ireland, as a Reformed Church within the wider body of Christ is grounded in the Scriptures and exists to love and honour God through faith in His Son and by the power of His Spirit, and to enable her members to play their part in fulfilling God's mission to our world. The congregation's mission statement is "to know Jesus Christ and make Him known" by the power of the Holy Spirit and to the glory of God the Father. With God's help, we wantto:
WARINGSTOWN PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEESANNUAL REPORT{ConYdJ an GROW in the knowledge of God {Col I:1 O) through the teaching of God's Word, fellowship and prayer (Act s 2".421 LOVE and serve one another {Gal 5.13, John 13.341 OFFER HOPE to our community and world through the sharing of the good news of Jesus Christ (Acts 1.8) WORSHIP God together and glorify Him through the way in which we live each day (I Peter 4.111 The congregation aims to live out its Mission and Vision as a family of God's people by being: Acovenant Community: where our relationships are rooted inthe promises of God by living faithfully toward him and toward one another. An Intergenerational Community: where adults intentionally take the lead to engage with, encourage and nurture younger members to maturity in Christ. An Outward Lookingcommunity: where we wantthe blessings of God that belongto us in the gospel to become blessings for others beyond the bounds of our community. As a congregation of the Presbyterian Church in Ireland, we believe thatthe Bible is the supreme authority over all we do and that the Westminster Confe55ion of Faith, along with the Larger and Shorter Catechism5 set out what we understand the Bible teaches on key matter5 of Christian faith andpractice. AcfiviTIES AND OBJEcfivES The congregation meets for worship every Sunday morning and evening. The sacraments of The Lord's Supper and Baptlsm are observed throughout the year. Members of the congregation are involved in a range of ministries serving the wider community and are outlined in the table below. Adoption / Fostering Support AV (Audio Visuall Badminton Banner Group Blast Flourish (Ladies Ministry) Flower Ministry Friday Fun Club Friendship Circle Girls, Brigade Life Groups Little Lambs Music Ministry Newcomers Pastoral Care / Visitors Prayer Ministry Shine (Holiday Bible Club) Sunday School Weavers Cancer Support WPC Office / Communication Young Adults Youth Ministry Youth Club1Sat Night) Boys, Brigade Catering Team Child Protection Coffee Rota Luncheon Club Men's Bowls Men's Ministry Men's Football Connect WPC Creche Door Ministry Mission Support
WARINGSTOWN PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEESANNUAL REPOR T (Conyd) an ACHIEVEMENTS AND PERFORMANCE Worship and prayer. The congregation meets for worship each Sunday morning at 9:30am and 11:30am with over 350 people attending each week and each Sunday evening at 6:30pm with around 120 in attendance. In addition, we hold special services throughout the year, including for Christmas and Easter. Throughout the year the sacrament of baptism was administered and several marriage services conducted and we also gave thanks for the faithful service of individuals and sought to comfort those who had been bereaved. At 31 December 2024 there were 419 communicant members and 314 farnilies connected with the congregation. Pastoral care Members of the congregation who are unable to attend church for medical and/or health reasons are visited on a regular basis by the minister, elders or by one of the congregation's pastoral visitors. Each week one morning service and the evening service are live streamed via the internet and DVD/CD copies of services are also available each week for distribution to those unable to attend. Mission and outreach At a local level, the congregation seeks to know Jesus Christ and make Him known through pastoral and prartical support to the local community. Financial assistance is also provided to several social witness, mission and outreach organisations at local, national and global levels through the church Mission Support Fund. The congregation supports the United Appeal for Mission which is a central fund of the Presbyterian Church in Ireland. This fund enables congregations to 5UPPOrtthe wider mission of the denomination and to do mission and outreach on a denominational basis beyond what the congregation could do on its own. The United Appeal Fund provides financial support for mission personnel at home and overseas, assists congregations Wlth the deployment of locally based staff, enables church planting, provides grant support for the upkeep of church premises, assists with the running costs of Union Theological College, the Church's training college for ministry students, and financially supports congregations in the areas of worship, discipleship• global mission, outreach, leadership and pastoral care.
WARINGSTOWN PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEESANNUAL REPOR T {ConVd) Presbyter an Presbytery The congregation was represented at the regular meetings of Presbytery by one of the elders and latterly our minister (after he was installed) also attended meetings of presbytery. This provides an important link between the congregations and the wider structures of the church. General Assembly One of our elders was nominated to represent the congregation at the meeting of the General Assembly of the Presbyterian Church in Ireland held in Assembly Buildings, Belfast, in June. Property Our new church hall has been in operation since early 2022 and is a valuable asset for the ministry of the church. The total cost of the build was approx. £2.5 million and the generosity of the congregation means that at the end of 2024 the outstanding loan is approximately £650 thousand. The congregation also own the historical listed church building and the Craig Hall on the Mill Hill site and a manse at Cherryville on the Dunkirk Road. Six acres of land on the Banbridge Road are held as an investment. Volunteers Much of the work of the church is carried out by a large number of volunteers, and the Trustees wish to acknowledge their deep appreciation of those who give freely of their time by serving on committees, helping with organisations and other church activities. PUBLIC BENEFIT STATEMENT The Presbyterian Church in Ireland meets the public benefit requirement by providing benefit to its members and the wider public by making known the Christian Gospel of the Lord Jesus Christ through the advancement of religion. The direct benefits which flow from the purposes of the Church include the gaining of an understanding in Christian beliefs as set out in the Bible and in the Church's subordinate standards (the Westminster Confession of Faith and the Shorter and Larger Catechisms) leading to spiritual and moral development and opportunities for response to Bible teaching. In turn, this framework leads to practical expressions of Christian beliefs and standards in the local community such as through the care of those in need (including the sick, disabled and bereaved). Generally, the above benefits are delivered locally by congregations and their members or are facil itated through presbyteries or are organised and delivered centrally. Local delivery is facilitated by central resources in almost all cases. Public access is made known using noticeboards, printed material, press advertisement, websites, and social media or in other ways. The benefits are demonstrated through regular evaluation of the services and informal and ad- hoc feedback from members, their families, and members of the public. The purpose does not lead to harm. The only private benefit flowing from our purpose is related to Ministers, Missionaries, Deaconesses, Irish Mission workers and Lay Agents who receive benefits as a result of their holding
WARINGSTOWN PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEES ANNUAL REPORT {ConYd) an office or employment. However, this is incidental and necessary to further our charitable purpose. There are no other private benefits. The beneficiaries of this purpose are members, their families, other individuals that the Presbyterian Church in Ireland is in direct and indirect contact with, the community in which pastoral services are provided and other communities throughout Northern Ireland, the Republic of Ireland, and worldwide which benefit from our engagement with and support for both Christian and other secular organisations, charities and individual members of the public. The Kirk Session has had regard to the Charity Commissions public benefit requirement statutory guidance. FINANCIAL REVIEW The congregation's main source of income is members, contributions through the Weekly Freewill Offering, donating a total of £202,063 (£184.530- 2023) Total Income of the congregation during the year was £637,197, compared to £634,023 in 2023. Total expenditure decreased from £483.070 (2023) to £481,111. RESPONSIBILITIES IN RESPEcf OF THE FINANCIAL STATEMENTS The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. TheTrustees are required to prepare financial statements for each financial yearwhich give a true and fairview of the state of affairs of the congregation and the financial activitiesforthatyear. In preparing the financial statements the Trustees are required to: select suitable accounting policies and then apply them consistently. make judgements and estimates that are reasonable and prudent. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Funds will continue in operation. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the funds transactions and disclose with reasonable accuracy at any time the financial position of the congregation and enable them to ensure that the financial statements comply with the Statement of Recommended Practice "Accounting and Reporting by Charities {1 January 2015)" They are also responsible for safeguarding the assets of the congregation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
WARINGSTOWN PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEESANNUAL REPORT(ConYdJ an GOING CONCERN The activities of the congregation are dependent on ongoing contributions from its members. The Trustees are of the opinion that the congregation has sufficient resources at the date of approval of these financial statements to meet commitments which will arise in the yearfrom the date of signing this report and subject to the continuing supportfrom members to fund on an ongoing basis the congregation's current activities and other financial commitments. RESERVES POLICY The Trustees are to review the level of unrestricted reserves that it is appropriate to hold taking account of current and ongoing commitments. It is the policy of the Trustees to hold at least three to six months, normal expenditure in unrestrirted reserves. Atthe year-end unrestricted reserves held in current assets were £195,976, {2023- £188,174), which represents a level of reserves above the expected range. The Trustees consider it prudent to hold reserves at this level as the funding of their present activities is dependent on the ongoing financial support of members. RISK REVIEW A review of major risks, systems and procedures implementedto manage identified risks, is an ongoing artivity and any issues highlighted are addressed by the Trustees with the 5UPPOrt of the congregational committee. The principal risks are in relation to the likelihood of reputational damage and financial risks associated with the expectation of ongoing financial support from members. These risks are mitigated by the Trustees, and the Congregational Committee, regularly monitoring the various activities of the ongregation at stated meetings and by encouraging members in their regular giving. The major capital cost for a new church hall was previously fully discussed by the Congregation at a special general meeting in 2018. At that meeting the congregation voted to proceed with the build project and have committed to financially support the project through a mix of regular donations and large single donations. A bank loan of £1 million was drawn from Danske Bank (less than the £1.39 million loan facility granted), which was reduced to £650thousand byend of 2024. Ongoing donations are monitored to ensure the loan is affordable. Approved by the K'rk Session at a meeting on 18th March 2025 and s d on its behalf by David Crawfo Clerk of Session Rev ar Haugh Minister
WARINGSTOWN PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEES ANNUAL REPORT (Conydj INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF WARINGSTOWN CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND an Opinion We have audited the financial statements of Waringstown Presbyterian Church for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdorn Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the CharItS affairs as at 31 December 2024, and of its total incoming resources and expenditure of resources, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Charities Act (Northern Ireland) 2008. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UKI) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern. We have nothing to report in respect of the following matters in relation to which the ISAS (UK) require us to report to you where: the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
WARINGSTOWN PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEES ANNUAL REPOR T (Conydj an INDEPENDENT AUDITORS REPORT TO THE TRusfEES OF WARINGSTOWN CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND {conVd) the Trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charit¢s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. Other information The trustees are responsible for the other information. The other information comprises the information included in the trustees, annual report, other than the financial statements and our auditorfs report thereon. Our opinion on the financial statements does not cover the other information and except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our3udit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 require us to report to you if, in our opinion: the information given in the financial statements is inconsistent in any material respect with the trustees, report; or sufficient accounting records have not been kept; or the financial statements are not in agreement with the accounting records. or we have not received all the information and explanations we require for our audit.
WARINGSTOWN PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEES ANNUAL REPOR T (ConVdJ an INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF WARINGStOWN CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND (convd) Responsibilities of trustees As explained more fully in the trustees, responsibilities statement set out on page 10, the trustees are responsible for the preparation of financial statements which give a true and fair view and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from materia5 misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Our responsibilities for the audit of the financial statements We have been appointed as auditor under section 65(2) of the Charities Act (Northern Ireland) 2008 and report in accordance with regulations made under section 66 of that Act. Our objectives are to obtain reasonable assurance about whether the financial statements are free from material misstatement, whether due to fraud or error. and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Having considered the nature of the Charity and the sector in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to breaches of health and safety laws, employment law and environmental regulations. We considered the extent to which non-compliance might have a material effect on the financial statements.
WARINGSTOWN PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEESANNUAL REPOR T (Convdj an INDEPENDENT AUDITORS REPORTTO THETRUSTEES OF WARINGSTOWN CONGREGATION OF THE PRESBYfERIAN CHURCH IN IRELAND (cont'd) We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to misstatement of restricted and unrestricted fund balances. Audit procedures performed included: - Assessment of compliance with key laws and regulations. Enquiry of those charged with governance including any known or suspected instances of non-compliance with laws and regulations, potential litigation, and fraud. Identifying and testing transactions for appropriateness. evaluating the rationale for significant transactions outside what is normal for the charity and assessing whether the judgments made in making accounting estimates are indicative of potential bias, in order to assess the risk of fraud through management override of controls. - Analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud. Challenging assumptions and judgments made by management in significant accounting estimates. Reviewing the disclosures in the financial statements against the specific legal requirements. Substantive testing of Balance Sheet items, together with a high level of individual account analysis. Detailed analysis of all restricted funds, agreeing postings and cut off. We communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. There are inherent limitations in the audit procedures outlined above. We are less likely to become aware of instances with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment.
WARINGSTOWN PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEES ANNUAL REPOR T (Convdj an INDEPENDENT AUDITORS REPORTTO THETRUSTEES OF WARINGSTOWN CONGREGATION OF THE PRESBYTERIAN CHURCH IN IRELAND (conyd) A further description of our responsibilities forthe audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.or auditorsres onsibilities. This description forms part of our auditorfs report. Use of our report This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, forouraudit work, forthis report, or forthe opinions we have formed. John Mccleary (Senior Statutory Auditor) for and on behalf of Mccleary & Company Ltd Chartered Accountant5 and Registered Auditors Ganiey Studios 14 Longstone Street Lisburn Co. Antrim BT28 ITP March 2025
WARINGSTOWN PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEES ANNUAL REPOR T {ConYd) an STATEMENT OF FINANCIAL ACTIVITY for the year ended 31 December 2024 Income and Endowments from: Donations and legacies Charitable activities Investments Other 257,684 332,382 36,196 590,066 36,196 3,806 7,129 595,870 28,886 5,282 3,985 3,742 1,666 64 5,463 Total 263,092 374,041 64 637,197 634,023 Expenditure on: Raising funds Charitable activities Other 788 267,646 72,772 788 407,551 72,772 814 408,696 73,560 139,905 Total 341,206 139,905 481,111 483,070 Net Income / (Expenditure) 178,114) 234,136 64 156,086 150,953 Transfers between funds Gains/{lossesl on revaluation of fixed asset5 157,936 (157,811) {125} 279 279 318 Net movement in funds Reconciliation of funds: Total funds brought forward 79,822 76,325 218 156,365 151,271 2,375,869 136,405 6,886 2,519,160 2,367,889 Total funds carried forward 2,455,691 212,730 7,104 2,675,525 2,519,160
WARINGSTOWN PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEES ANNUAL REPORT (Cont'd) an BALANCE SHEET As at 31 December 2024 Fixed assets: Tangible assets Investments 13 2,857,615 60,000 2,857,615 2,910,587 14 7,104 67,104 63,825 Total fixed assets 2,917,615 7,104 2,924,719 2,974,412 Current assets Debtors 15 31,210 30,640 61,850 96,553 Cash at bank and in hand 16 164,766 182,090 346,856 239,751 Total current assets 195,976 212,730 408,706 336,304 Liabilities: Creditors." Amounts falling 17 due within one year 126,950 126,950 166,932 Net current assets /{liabilities) 69,026 212,730 281,756 169,372 Creditors: Amounts falling 18 due after one year 530,950 530,950 624,624 Total assets less current liabilities 2,455,691 212,730 7,104 2,675,525 2,519,160
WARINGSTOWN PRESBIERlAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUS7EES ANNUAL REPOR T {ConVdJ Presbyter an BALANCE SHEEr As at 31 December 2024 Funds of the charity Endowment funds 19 7104 6,886 Restricted funds 19 212,730 136,405 Unrestricted funds 19 2,455,691 2,375,869 Total charity funds 2,675,525 2,519,160 th Approved by the Kirk Session at a meeting on 18 March 2025 and signed on its behalf by David Cra Rev Mark Haugh Clerk of Session Minister
WARINGSTOWN PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEES ANNUAL REPOR T (Conyd) an STATEMENT OF CASH FLOWS For the Year Ended 31 December 2024 Cash flows from operating activities Cash generated from operations 127,154 116,3751 Cash flows from investing activities Purchase of tangible fixed assets Purchase of Investments Interest received (19,800) (3,000) 2,687 64 (44,961) 657 Investment income 75 Net cash provided by (used in) investing activities (20,049) (44,229) Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period 107,105 (60,6041 239,751 300,355 Cash and cash equivalents at the end of the reporting period 346,856 239,751
WARINGSTOWN PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEES ANNUAL REPOR T (Convdj Presbyter an NOTESTO THE STATEMENT OF CASH FLOWS For the Year Ended 31 December 2024 RECONCILIATION OF NET INCOME/(EXPENDITURE) Net movement in funds for the reporting period 156,365 151,271 Adjustments for: Depreciation charges Loss / Gains on revaluation Interest received 72,772 (279) (2,687) {64) 73,560 (318) (657) (75) Investment income 226,107 223,781 34,703 (36,830) (133,656) (203,326) Decrease/(increase} in debtors (Decrease)/increase in creditors Net cash provided by (used in) operating activities 127,154 (16,375)
WARINGSTOWN PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEESANNUAL REPOR T (Convdj an NOTES TO THE ACCOUNTS For the year ending 31 December 2024 ACCOUNTING POLICIES BASIS OF FINANCIAL STATEMENTS The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102) {effective l January 2019), and the Charities Act (Northern Ireland) 2008. The financial statements have been prepared under the historical cost convention except for investment assets, which are shown at market value. The financial statements include all transactions, assets and liabilities for which 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. 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 (a) income from endowments which is to be expended only on the restricted purposes intended by the donor and (bl 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. io
WARINGSTOWN PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEESANNUAL REPOR T (Conydj Presbyter an NOTESTO THE ACCOUNTS For the year ending 31 December 2024 ACCOUNTING POLICIES (convd) INCOMING RESOURCES Recognition of incoming resources. These are included in the Statement of Financial Activities (SOFA) when: the congregation becomes entitled to the resources. the trustees are virtually certain they will receive the resources; and the monetary value can be measured sufficiently reliably. (li) Incoming resources with related expenditure. Where incoming resources have related expenditure (as with fundraising income) the incoming resources and related expenditure are reported gross in the SOFA. {iii) Grants and donations. Grants and donations are only included in the SOFA when the congregation has unconditional entitlement to the resources. (iv) Tax reclaims on donations and gifts. Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate. {v) Contractual income and performance related grants. This is only included in the SOFA once the related goods or services have been delivered. (vi) Gifts in kind. Gifts in kind are accounted for at a reasonable estimate of theirvalue to the charity orthe amount realised. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable. (vii) Donated services and facilities. These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received. li
WARINGSTOWN PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEES ANNUAL REPOR T (Conyd) an NOTESTO THE ACCOUNTS For the year ending 31 December 2024 ACCOUNTING POLICIES (convd) {viii) Volunteer help. The value of any voluntary help received is not included in the accounts but is described in the trustees, annual report. (ix) Investment income. This is included in the accounts when receivable. (x) Investment gains and losses. This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. EXPENDITURE AND LIABILITIES (xi) Liability recognition. Liabilities are recognised as soon as there is a legal or constructive obligation committing the congregation to pay out resources. (xii) 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 of any legal advice to trustees on governance or constitutional matters. (xiii) Grants with performance conditions. 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. (xiv) Grants payable without performance conditions. These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity. 12
WARINGSTOWN pREsBER1AN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEESANNUAL REPORT(ConYd) an NOTESTO THE ACCOUNTS For the year ending 31 December 2024 ACCOUNTING POLICIES {cont'd) ASSErs {xv) Tangible Fixed Assets. Tangible fixed assets for use by the 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 is recorded on all tangible fixed assets other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life as follows. Buildings: Fixtures, fittings and equipment over50 years. 150/0 reducing balance. (xvi) Investments. I nvestments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees, best estimate of market value. (Xvii) Going Concern. The financial Statements have been prepared on a going concern basis. DONATIONS AND LEGACIES li 1:11 11 31 Recorded giving: Freewill offering Loose collections 202,063 202,853 8,663 404,916 432,741 8,663 5,882 77,663 42,183 98,824 115,064 Donations and gifts Gift Aid 77,663 51,866 46,958 257,684 332,382 590,066 595,870 13
WARINGSTOWN PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEES ANNUAL REPORT (Conyd) an NOTES TO THE ACCOUNTS (convd) For the year ending 31 December 2024 CHARITABLE ACTIVITIES Income from charitable activities Organisation income Grants Fundraising Events 16,373 10,617 9,206 16,373 24,398 10,617 3,481 9,206 1,007 36,196 36,196 28,886 INVESTMENTS li I: li Deposit interest Investment income Rental income 2,687 2,687 64 657 64 75 1,055 1,055 4,550 3,742 3,806 5,282 14
WARINGSTOWN PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEESANNUAL REPOR T (Convd) Presbyter an NOTES TO THE ACCOUNTS (cont'd) For the year ending 31 December 2024 OTHER INCOME Other income Graveyard 1,666 4,238 1,225 5,904 1,225 2,735 1,250 1,666 5,463 7,129 3,985 RAISING FUNDS FWO envelopes 788 788 814 788 788 814 15
WARINGSTOWN PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEES ANNUAL REPOR T (Conydj an NOTES TO THE ACCOUNTS {conVd) For the year ending 31 December 2024 CHARITABLE ACTIVITIES General Assembly Assessments Presbytery fees Ministry and support staff costs Congregational running expenses Donations to Missions and charities 19,725 1,479 127,422 106,725 19,725 1,479 127,422 79,766 177,325 181,914 18,396 889 70.600 6,775 69,305 76,080 123.381 Governance costs 5,520 5,520 4,350 267,646 139,905 407,551 408,696 OTHER EXPENDITURE Depreciation 72,772 72,772 73,560 72,772 72,772 73,560 16
WARINGSTOWN PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEES ANNUAL REPOR T {ConYdJ Presbyter an NOTES TO THE ACCOUNTS (cont'd) For the year ending 31 December 2024 EMPLOYEES Employment Costs Wages and Salaries Social Security Costs Pension contributions 105,755 72,137 5,928 1,842 13,479 5,787 125,162 79,766 Number of Employees The average number of employees, including the minister of the congregation. during the year was 2024 2023 Average number of employees There were no employees in receipt of employee benefits in excess of £60,000. 10. TRUSTEES. REMUNERATION Details of trustee remuneration as detailed at note 20. 11. NET INCOME /{EXPENDITURE) Net income/(Expenditurel is stated after charging/lCrediting).' 2024 2023 Auditors Remuneration Depreciation-owned assets 5,520 4,350 72,772 73,560 17
WARINGSTOWN PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEESANNUAL REPOR T (Conyd) an NOTES TO THE ACCOUNTS {cont'd} For the year ending 31 December 2024 12. PENSION COSTS The minister of the congregation is a member of the Presbyterian Church in Ireland Pension Scheme (2009). This is a scheme operated by the Presbyterian Church in Ireland, a separate registered charity. The congregation pays an assessment to the Presbyterian Church in Ireland equivalent to the employerfs 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 sufficiently funded to meet current and future obligations. A formal schedule of contributions was drawn up on 25 November 2015 whereby the Presbyterian Church agreed to pay from 31 December 2015 contributions of 24% of pensionable salaries to cover the accrual of benefits for future service, expenses, the cost of insuring death in service benefits and funding the scheme deficit. The contributions made by the congregation during the year were. Contributions 10,805 3,243 The congregation operates a defined pension contribution policy for its employees. The scheme and its assets are held by an independent scheme manager. The pension charge represents the contributions due from the congregation during the year. Contributions 2,674 2,544 18
WARINGSTOWN PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEES ANNUAL REPOR T {ConYd) Presbyter an NOTESTO THE ACCOUNTS (conyd) For the year ending 31 December 2024 13. TANGIBLE FIXED ASSErs Cost or valuation At start of year Additions 2,955,178 102,506 19,800 3,057,684 19,800 At end of year 2,955,178 122,305 3,077,483 Depreciation At start of year Provision for year 115,907 59,104 31,190 13,668 147,097 72,772 At end of year 175,011 44,857 219,869 Net Book Value At start of year 2,839,271 71,316 2,910,587 At end of year 2,780,167 77,448 2,857,615 14. INVESTMENTS 2024 2023 General Investment Fund Investment- Land 7, 104 3,825 60,000 60,000 67,104 63,825 19
WARINGSTOWN PRESBITERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEESANNUAL REPOR T (Conydj an NOTES TO THE ACCOUNTS {cont'd) For the year ending 31 December 2024 14. INVESTMENTS (Cont'd) 2024 2023 Value at start of year Additions Disposals Impairment Gains / {Losses) on revaluation 63,825 63,507 3,000 279 318 Value at end of year 67,104 63,825 15. DEBTORS 2024 2023 Gift aid recoverable Prepayments and other debtors 55,498 88,912 6,352 7,641 61,850 96,553 16. CASH AT BANK AND IN HAND 2024 2023 Bank accounts Cash in hand 345,879 236,071 976 3,680 346,855 239,751 20
WARINGSTOWN PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEESANNUAL REPORT(ConYdJ an NOTESTO THE ACCOUNTS (convd) For the year ending 31 December 2024 17. CREDITORS: Amounts falling due within one year 2024 2023 Other Creditors Accruals Bank Overdraft Bank loan due within one year 42,182 4,750 6,950 120,000 120,000 126,950 166,932 18. CREDITORS: Amounts falling due after one year 2024 2023 Bank loan due after one year 530,950 624,624 530,950 624,624 21
WARINGSTOWN PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEES ANNUAL REPOR T {ConYdJ an NOTES TO THE ACCOUNTS (cont'd) For the year ending 31 December 2024 19. FUND BALANCES AND RECONCILIATION OF FUNDS Balance at Income Expend. Gains Transfer Balance at end Fund start Losses Unrestricted Funds General Fund Fixed Assets (534,718) 2,910,587 263,092 268,434 72,772 {5,342) (72,772) 138,136 {401,924) 19,800 2,857,615 2,375,869 263,092 341,206 (78,114) 157,936 2,455,691 Restricted Funds Building Fund Missions Fund Bowling Fellowship Boys, Brigade Catering Ministry Community Ministries Friendship Circle Graveyard Fund Little Lambs Luncheon Club Flourish Youth & Children's Donations Fund Special Collections Girls Brigade 81,156 9,771 32 279,619 45,791 618 36,661 41,395 150 242,958 (165,484) 4,396 246 468 158,630 14,413 100 {4001 700 7,188 2,033 4,301 17 8,822 4,750 8,304 3,640 518 8,406 3,143 4,301 17 1,110 1,310 1,225 6,661 542 1,310 7,536 8,695 882 14,215 834 {6,311) {2,034) (340) (2,339) (1,749) 380 8,284 3,556 232 4,756 300 272 3,404 1,647 4,171 6,215 535 8,554 2,284 250 1,315 1,148 1,250 (4,171) 4,362 10,246 7,707 14,608 5,886 (4,362) 1,821 7,364 9,185 136,405 374,041 139,905 234,136 (157,811) 212,730 Endowment Funds General Invest. Fund Deposit Invest. Fund 3,825 3,061 279 279 3,000 (3,125) 7,104 64 6,886 343 343 (125) 7,104 Total 2,519,160 637,476 481,111 156,365 2,675,525 22
WARINGSTOWN PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland TRUSTEES ANNUAL REPOR T (Convdj Presbyter an NOTES TO THE ACCOUNTS (convd) For the year ending 31 December 2024 20. RELATED PARTY TRANSACTIONS One of the trustees, the Minister of the congregation received remuneration of £45,244 and expenses of £7,036 for acting in that capacity. Pension contributions of £10,805 were paid by the congregation in respect of the Minister to the Presbyterian Church in Ireland Pension Scheme (2009). The Facilities Manager is also a trustee and received remuneration of £15,731 as an employee of the church for his role as Facilities Manager. No trustee received any remuneration or expenses during the year in connection with their duties, other than those mentioned above. During the year the congregation contributed the following amounts to Funds of the General Assembly of the Presbyterian Church in Ireland a separate charity £19,725 to Presbyterian Congregational Assessments £16,500 to Presbyterian United Appeal £12,708 to Presbyterian Missions (for S & A Cowan in Kenya) £3,750 to Presbyterian Missions (for A & O Nel in Russia) £2,000 to Presbyterian Children's Society The congregation contributed £1,479 towards Armagh Presbytery Assessments during the year. There were no other related party transactions. 21. NEWBUILD- HALL Construction of the new hall, which commenced in February 2021, was completed by April 2022. The cost of this project was £2.46 million. The building was officially opened by the Moderator of the Presbyterian Church in Ireland in May 2022. 22. Capital Commitments At the year end the charity had no capital commitments and none in the priorfinancial year. 23